Flowserve Holds 2012 Annual Meeting of Shareholders

DALLAS, May 17, 2012 -- Flowserve Corp. (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, held its 2012 Annual Meeting of Shareholders today in Irving, Texas.

Concerning the official business of the meeting, the company announced that its shareholders re-elected Mark A. Blinn, Roger L. Fix, David E. Roberts and James O. Rollans to the company's board of directors, each to serve a term expiring at the 2015 Annual Meeting of Shareholders. Biographies for all members of the board of directors can be found in the company's 2011 Proxy Statement or on www.flowserve.com.

Voting results indicate that shareholders approved an advisory vote on executive compensation, voting approximately 94% in favor of the proposal. Voting results also indicate that shareholders approved a proposed amendment to the company's Certificate of Incorporation to eliminate the classified structure of the board.  As a result, directors with expiring terms will be elected annually starting in 2013.  Shareholders also voted in favor of a proposed amendment to the company's Certificate of Incorporation granting shareholders holding 25% or more of the company's common stock for at least one year the right to call a special meeting of shareholders.

Additionally, shareholders ratified the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for 2012.

Final voting results on all agenda items will be available in a Current Report on Form 8-K to be filed by the company following certification by the company's inspector of elections.

Technical Contact: Mike Mullin, Director Investor Relations (972) 443-6636

Media Contact: Steve Boone, director, global communications and public affairs, (972) 443-6644

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