FLOWSERVE CORP — Director's Dealing 2007

Dec 13, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2007-12-12

Reporting Person: Guiltinan Richard J JR (VP,Controller,Chief Acct Ofcr)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-12-12	Common Stock ($1.25 par value per share)	M	1433	$22.90	Acquired	27017	Direct
2007-12-12	Common Stock ($1.25 par value per share)	F	352	$93.29	Disposed	26665	Direct
2007-12-12	Common Stock ($1.25 par value per share)	M	1500	$24.90	Acquired	28165	Direct
2007-12-12	Common Stock ($1.25 par value per share)	F	401	$93.29	Disposed	27764	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-12-12	Stock Option (right-to-buy)	$24.90	M	1500	Disposed	2015-02-16	Common Stock (1500)	Direct
2007-12-12	Stock Option (right-to-buy)	$22.90	M	1433	Disposed	2014-07-15	Common Stock (1433)	Direct

Footnotes

F1: 1,500 option shares are vested and exercisable and the remaining 1,500 option shares will vest and become exercisable on February 16, 2008.

F2: Option shares are fully vested and exercisable.