FLOWSERVE CORP — Director's Dealing 2004

Jul 12, 2004

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2004-07-06

Reporting Person: KLING LEWIS M (VP and COO)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Common Stock ($1.25 par value per share)	$		Restricted Common Stock (46000)		Direct
Stock option (right-to-buy)	$23.27	2014-07-09	Common Stock (75000)		Direct

Footnotes

F1: 40,000 shares of Restricted Common Stock vest on July 9, 2007; the remaining 6,000 shares vest in three (3) equal annual installments on July 9, 2005, July 9, 2006 and July 9, 2007, respectively.

F2: Vesting of the shares of Restricted Common Stock is contingent upon continued employment with the Issuer. An expiration date is not applicable.

F3: The shares of Restricted Common Stock shall be valued at the fair market value upon each vesting date. A conversion or exercise price is not applicable.

F4: The option shares vest in three (3) equal annual installments beginning on July 9, 2005 and then on July 9, 2006 and July 9, 2007, respectively.