FLOWSERVE CORP — Director's Dealing 2006

Apr 24, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2006-04-20

Reporting Person: BLINN MARK A (VP and Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-04-20	Common Stock ($1.25 par value per share)	F	1323	$56.31	Disposed	54369	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right-to-buy)	$24.90	2015-02-16	Common Stock (14000)	14000	Direct
Stock Option (right-to-buy)	$27.97	2015-04-20	Common Stock (15000)	15000	Direct
Stock Option (right-to-buy)	$30.95	2015-07-13	Common Stock (28500)	28500	Direct

Footnotes

F1: The option shares vest and become exercisable as follows: 4,667 shares on February 16, 2006; 4,666 shares on February 16, 2007 and 4,667 shares on February 16, 2008.

F2: The option shares vest and become exercisable in three equal annual installments on April 20, 2006; April 20, 2007 and April 20, 2008.

F3: The option shares vest and become exercisable in three equal annual installments on July 14, 2006; July 14, 2007 and July 14, 2008.