FLOWSERVE CORP — Director's Dealing 2006

Nov 16, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2006-11-15

Reporting Person: BEALL ANDREW J (VP & Pres. Flow Solutions Div.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-15	Common Stock ($1.25 par value per share)	M	3800	$17.81	Acquired	33090	Direct
2006-11-15	Common Stock ($1.25 par value per share)	M	6500	$19.15	Acquired	39590	Direct
2006-11-15	Common Stock ($1.25 par value per share)	S	19450	$52.8912	Disposed	20140	Direct
2006-11-15	Common Stock ($1.25 par value per share)	M	1667	$26.50	Acquired	21807	Direct
2006-11-15	Common Stock ($1.25 par value per share)	M	2300	$18.50	Acquired	24107	Direct
2006-11-15	Common Stock ($1.25 par value per share)	M	4533	$17.00	Acquired	28640	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-11-15	Stock Option (right-to-buy)	$18.50	M	2300	Disposed	2008-11-02	Common Stock (2300)	Direct
2006-11-15	Stock Option (right-to-buy)	$17.00	M	4533	Disposed	2009-08-02	Common Stock (4533)	Direct
2006-11-15	Stock Option (right-to-buy)	$17.81	M	3800	Disposed	2010-08-22	Common Stock (3800)	Direct
2006-11-15	Stock Option (right-to-buy)	$19.15	M	6500	Disposed	2013-07-17	Common Stock (6500)	Direct
2006-11-15	Stock Option (right-to-buy)	$26.50	M	1667	Disposed	2006-12-31	Common Stock (1667)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock ($1.25 par value per share)	10863.34	Indirect

Footnotes

F1: The option shares are fully vested and exercisable.