Crane Co. Acquires Dixie-Narco, Inc.

STAMFORD, Conn. -- Crane Co. (NYSE: CR), a diversified manufacturer of highly engineered industrial products, announced today that it had purchased all of the capital stock of Dixie-Narco, Inc., a manufacturer of can and bottle vending machines, for a purchase price of $46 million in cash. Dixie-Narco, Inc. is a subsidiary of Whirlpool Corporation.

Dixie-Narco's office and manufacturing operation is located in Williston, South Carolina, where it employs approximately 850 people. Dixie-Narco's 2006 sales are estimated to be approximately $165 million.

Mr. Eric Fast, President and Chief Executive Officer of Crane Co., said, "Dixie-Narco manufactures can and bottle vending machines primarily for well-known companies such as Coca-Cola, PepsiCo, and Dr. Pepper/Seven Up. This acquisition expands our vending capabilities from our snack, food and coffee focus and reinforces our position as the industry leader. Dixie-Narco is currently operating at a loss and significant changes to its current business practices will be required to return it to profitability. While these changes will take a number of months to implement, we are confident about the longer term attractiveness of this acquisition."

Additional information about the Dixie-Narco acquisition will be available in the Crane Co. quarterly earnings statement, which will be released on the evening of October 24, and on a conference call at 11 am, on October 25. The conference call can be accessed through the internet at www.craneco.com.

Crane Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane provides products and solutions to customers in the aerospace, electronics, hydrocarbon processing, petrochemical, chemical, power generation, automated merchandising, transportation and other markets. The Company has five business segments: Aerospace & Electronics, Fluid Handling, Engineered Materials, Merchandising Systems, and Controls. Crane has approximately 10,700 employees in North America, South America, Europe, Asia and Australia. Crane Co. is traded on the New York Stock Exchange (NYSE:CR). For more information, visit www.craneco.com.

This press release may contain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements present management's expectations, beliefs, plans and objectives regarding future financial performance, and assumptions or judgments concerning such performance. Any discussions contained in this press release, except to the extent that they contain historical facts, are forward-looking and accordingly involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2005 and subsequent reports filed with the Securities and Exchange Commission.

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