Andrew E. Graves Appointed President of Dresser Flow Solutions; Former President and COO of Federal Signal Corporation to Lead Dresser, Inc.'s Largest Business Unit.

To download high-resolution, print-ready JPEG images, click on the thumbnail image above.

WARNING: these images are

very large (800K+)

Click here for caption

Photo Editors/Business Editors

NOTE TO MEDIA: Multimedia assets available

A photo is available at URL:

http://www.businesswire.com/cgi-bin/photo.cgi?pw.042803/bb10

DALLAS--(BUSINESS WIRE)--April 28, 2003

Dresser, Inc. President Steve Lamb today announced that Andrew E. Graves has been appointed president of Dresser Flow Solutions effective today.

Mr. Graves was previously the president and COO of Federal Signal Corporation, a $1.1 billion diversified industrial manufacturer.

Mr. Lamb stated, "Andy has demonstrated success in leading organizations through the same transformation process that is currently underway at Dresser. He has a strong track record of driving profitable growth while at the same time improving the cost side of the equation. His experience should help us accelerate our change efforts."

Prior to his tenure at Federal Signal Corporation, which he joined in 2001, Mr. Graves was president of CNH Capital Corporation, a financial services subsidiary with $13 billion in assets, of CNH Global. He also led the $400 million Latin America business for Case Corporation (a predecessor company to CNH Global) from 1994 to 1998.

From 1983 through 1994, Mr. Graves held a variety of operations management positions in FMC Corporation's Wellhead Equipment division culminating in his tenure as general manager of the division. He began his career as a process engineer with U.S. Steel Corporation from 1981 to 1983.

Mr. Graves received a Bachelor of Science degree in Metallurgical Engineering from Purdue University (1981) and holds a Master of Business Administration degree from the University of Chicago (1983).

His professional affiliations include tenures as chairman and vice chairman of the industrial advisory board for the Kellogg Graduate School of Management, Northwestern University, and a term on the board of directors of the National Association of Manufacturers. He is also a member of the Economic Club of Chicago.

Dresser Flow Solutions, a business unit of Dresser, Inc., is a worldwide leader in the design, manufacturing and supply of valves, pumps, actuators, meters, regulators, piping specialties, and control solutions for the exploration & production, transmission, and distribution sectors of the oil & natural gas industries. Dresser Flow Solutions' website can be accessed at flowsolutions.dresser.com.

Headquartered in Dallas, Dresser, Inc. is a worldwide leader in the design, manufacture and marketing of highly engineered equipment and services sold primarily to customers in the flow control, measurement systems, and power systems segments of the energy industry. Dresser has a widely distributed global presence, with over 7,500 employees and a sales presence in over 100 countries worldwide. The Company's website can be accessed at www.dresser.com.

Note: A photo is available at URL: http://www.businesswire.com/cgi-bin/photo.cgi?pw.042803/bb10