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BWIP HOLDING INC. ANNOUNCES NEW DIRECTORS

 LONG BEACH, Calif., March 8 /PRNewswire/ -- BWIP Holding Inc. (NASDAQ-NMS: BWIP), the parent company for BW/IP International Inc., today announced the resignation of three members and the addition of five new members to its board of directors.
 The company announced that three directors who are principals in the investment firm of Clayton, Dubilier & Rice Inc. (CD&R), B. Charles Ames, Peter F. Dolle and Joseph L. Rice III, are leaving the board. BWIP Holding Inc. was formed in 1987 to acquire businesses formerly operated by Borg-Warner Corp. in a leveraged purchase by CD&R and the company's management. CD&R, which had at one time owned 68 percent of BWIP Holding's common stock, completed the sale of all of its shares to the public in two secondary stock offerings during 1992.
 Joining the board are George D. Leal, James S. Pignatelli, William C. Rusnack, A.L. Dubrow and Eugene P. Cross.
 Leal, 59, is chairman of the board, president and chief executive officer of Dames & Moore, an international engineering design and consulting firm with 100 offices, 3,000 employees and an annual business volume in excess of $300 million.
 Pignatelli, 49, is president and chief executive officer of Mission Energy Co., a leading developer of independent electricity generation facilities in the United States and overseas. Mission Energy is a subsidiary of SCEcorp, holding company for Southern California Edison, one of the largest electricity utilities in the United States.
 Rusnack, 48, is president of ARCO Transportation Co., a division of Atlantic Richfield Co. ARCO Transportation, with an asset base of $2 billion, is responsible for ARCO's Alaskan pipeline interests, marine transportation and storage facilities and pipeline networks in the West Coast and mid-continent areas of the United States.
 They join James J. Gavin Jr., retired vice chairman of Borg- Warner Corp., and H. Jack Meany, retired chairman and chief executive officer of N.I. Industries Inc., bringing the total number of outside directors to five.
 Also joining the board are two corporate officers, A.L. Dubrow, 60, president and chief operating officer, and Eugene P. Cross, 57, executive vice president and chief financial officer.
 They join Peter C. Valli, chairman and chief executive officer, increasing the number of inside directors to three.
 Simultaneously, the company announced that Cross, formerly vice president, finance and chief financial officer, has been promoted to executive vice president, finance and chief financial officer.
 BW/IP International Inc. is a worldwide supplier of advanced- technology pump, seal and fluid control equipment and services. The company's Pump and Seal segment produces highly engineered pumps and pumping equipment, precision mechanical seals, seal systems and accessories. The Fluid Controls segment manufactures aerospace control systems for tactical missiles and aircraft.
 -0- 3/8/93
 /CONTACT: Dan Peoples of BWIP Holding, 310-435-3700, or 619-552-1456/
 (BWIP)


CO: BWIP Holding Inc.; BW/IP International Inc. ST: California IN: SU: PER

MS-LS -- SD003 -- 3806 03/08/93 08:16 EST
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Publication:PR Newswire
Date:Mar 8, 1993
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