FLOWSERVE CORP — Director's Dealing 2007

Dec 7, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2007-12-05

Reporting Person: Jojo Linda P (SVP, Chief Information Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-12-05	Common Stock ($1.25 par value per share)	M	5000	$27.97	Acquired	29935	Direct
2007-12-05	Common Stock ($1.25 par value per share)	S	5000	$92.22	Disposed	24935	Direct
2007-12-05	Common Stock ($1.25 par value per share)	M	5395	$30.95	Acquired	30330	Direct
2007-12-05	Common Stock ($1.25 par value per share)	S	5395	$92.22	Disposed	24935	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-12-05	Stock Option (right-to-buy)	$27.97	M	5000	Disposed	2015-04-20	Common Stock (5000)	Direct
2007-12-05	Stock Option (right-to-buy)	$30.95	M	5395	Disposed	2015-07-13	Common Stock (5395)	Direct

Footnotes

F1: 5,000 option shares are vested and exercisable and the remaining 2,500 option shares vest and become exercisable on April 20, 2008.

F2: 6,790 option shares are vested and exercisable and the remaining 2,143 option shares vest and become exercisable on July 14, 2008.