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SECONDARY OFFERING OF BWIP HOLDING INC. CLASS A COMMON STOCK PRICED AT $24 PER SHARE

 SECONDARY OFFERING OF BWIP HOLDING INC.
 CLASS A COMMON STOCK PRICED AT $24 PER SHARE
 LONG BEACH, Calif., Oct. 30 /PRNewswire/ -- Goldman, Sachs & Co. and Donaldson, Lufkin & Jenrette Securities Corp. announced today that the secondary public offering of 4,268,880 shares of class A common stock of BWIP Holding Inc. (NASDAQ: BWIP) was priced at $24 per share, $.25 above the last bid of the class A common stock on the NASDAQ National Market System on Oct. 29, 1992. Of the shares being offered, 3,408,880 are being offered in the United States, and 860,000 shares are being offered in a concurrent international offering outside the United States.
 Goldman, Sachs & Co. and Donaldson, Lufkin & Jenrette Securities Corp. are acting as representatives of the United States underwriters with respect to the U.S. offering. Goldman, Sachs International Ltd. and Donaldson, Lufkin & Jenrette Securities Corp. are acting as representatives of the international underwriters with respect to the international offering.
 All of the shares being offered are being sold by selling stockholders. The Clayton & Dubilier Private Equity Fund II Limited Partnership will sell approximately 4,170,000 shares, and certain other investors will sell approximately 99,000 shares. The underwriters have been granted over-allotment options by the selling stockholders to purchase up to an additional 426,887 shares. To the extent such option is not exercised by the underwriters, the selling stockholders have agreed to sell such shares to the company if the company so requests at the offering price, less underwriters' discount.
 BW/IP International is a worldwide supplier of advanced technology fluid transfer and control equipment, systems and services. Major product lines include highly engineered and standard centrifugal pumps, mechanical seals and seal support systems, and pneumatic and hydraulic control systems for tactical missiles and aircraft.
 Copies of the prospectus may be obtained from Goldman, Sachs & Co., 85 Broad St., New York, NY 10004, or from Donaldson, Lufkin & Jenrette Securities Corp., 140 Broadway, New York, NY 10005.
 -0- 10/30/92
 /CONTACT: Dan Peoples of Peoples & Co., 619-552-1456, for BWIP Holding/
 (BWIP) CO: BWIP Holding Inc. ST: California IN: ARO SU: OFR


JB-LS -- SD003 -- 6966 10/30/92 08:53 EST
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Publication:PR Newswire
Date:Oct 30, 1992
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