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SHAREHOLDERS OF DRESSER INDUSTRIES ELECT BOARD OF DIRECTORS; APPROVE STOCK COMPENSATION PLAN

 SHAREHOLDERS OF DRESSER INDUSTRIES ELECT BOARD OF DIRECTORS;
 APPROVE STOCK COMPENSATION PLAN
 DALLAS, March 19 /PRNewswire/ -- Shareholders of Dresser Industries, Inc. elected a 10-member board of directors, approved the 1992 Stock Compensation Plan and defeated a proposal related to South African operations at the company's annual meeting held today in Dallas.
 Elected to the board of directors were:
 William E. Bradford, president and executive officer of Dresser-Rand Company and senior vice president-operations of Dresser;
 Samuel B. Casey Jr., retired chairman of the board, Dixon Ticonderoga Company, Vero Beach, Fla.
 Rawles Fulgham, senior advisor, Merrill Lynch Capital Markets/Merrill Lynch Consumer Markets, Dallas;
 John Gavin, chairman, The Century Council, and president, Gamma Service International, Los Angeles;
 Ray L. Hunt, chairman of the board, chief executive officer and president, Hunt Consolidated, Inc., Dallas;
 John J. Murphy, chairman of the board, chief executive officer and president, Dresser Industries, Inc., Dallas;
 W. George Nancarrow, retired chairman of the board and chief executive officer, D&M Holding Inc., and retired chairman of the board, DeGolyer and MacNaughton Inc., Dallas;
 Lionel H. Olmer, partner, Paul, Weiss, Riffkind, Wharton & Garrison, Washington;
 Bill D. St. John, executive vice president-administration, Dresser Industries, Inc., Dallas;
 Richard W. Vieser, retired chairman of the board, chief executive officer and president, FL Industries, Inc., Livingston, N.J.
 John J. Murphy, chairman, chief executive officer and president, reviewed 1991 and the first quarter of 1992 for shareholders and told them that the planned spin-off of the company's industrial product operations "will enable Dresser to complete its transition to a totally energy-focused supplier committed to serving the oil, gas, refining and petrochemical industries.
 Murphy said INDRESCO Inc., the separate company being formed to run the spun-off industrial product operations for shareholders "will be a major force with a promising future in construction and mining equipment and general industry products."
 Headquartered in Dallas, Dresser had total revenues of more than $6 billion in 1991 from consolidated operations and its share of major unconsolidated joint ventures.
 -0- 3/19/92
 /CONTACT: Kenneth C. Rueckert of Dress Industries, 214-740-6000/
 (DI) CO: Dresser Industries Inc. ST: Texas IN: OIL SU: PER


TS -- NY058 -- 9699 03/19/92 12:51 EST
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Publication:PR Newswire
Date:Mar 19, 1992
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