Crane NXT, Co. — Director's Dealing 2007

Aug 1, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CRANE CO /DE/ (CR)
CIK: 0000025445
Period of Report: 2007-07-31

Reporting Person: FAST ERIC C (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-07-31	CRANE CO. COMMON, PAR VALUE $1.00	M	100000	$19.11	Acquired	513928	Direct
2007-07-31	CRANE CO. COMMON, PAR VALUE $1.00	F	65595	$46.34	Disposed	448333	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-07-31	Employee Stock Option (Right to Buy)	$19.11	M	100000	Disposed	2013-01-27	CRANE CO. COMMON, PAR VALUE $1.00 (100000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
CRANE CO. COMMON, PAR VALUE $1.00	1717	Indirect
CRANE CO. COMMON, PAR VALUE $1.00	29820	Indirect

Footnotes

F1: Mr. Fast exercised 100,000 stock options priced at $19.11, at a market price of $46.34. The resulting after-tax gain was taken in the form of 34,405 shares of Crane Co. stock, resulting in a net increase in Mr. Fast's position by that amount, to 448,333 shares. Mr. Fast tendered 41,239 shares of previously owned stock to pay the exercise price of the options, and 24,356 of the option shares were withheld to pay taxes on the resulting gain.

F2: The option vested 50% on the first, 75% on the second and 100% on the third anniversary of the grant date (01/27/2003).