FLOWSERVE CORP — Director's Dealing 2007

Dec 4, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2007-11-29

Reporting Person: FERGUSON THOMAS E (SVP & Pres Flowserve Pump Div.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-11-29	Common Stock ($1.25 par value per share)	M	3000	$22.90	Acquired	50992	Direct
2007-11-29	Common Stock ($1.25 par value per share)	M	1257	$24.90	Acquired	52249	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-11-29	Stock Option (right-to-buy)	$22.90	M	3000	Disposed	2014-07-15	Common Stock (3000)	Direct
2007-11-29	Stock Option (right-to-buy)	$24.90	M	1257	Disposed	2015-02-16	Common Stock (1257)	Direct

Footnotes

F1: Shares were exercised and held pursuant to a 10b5-1 plan previously entered into by the reporting person.

F2: Option shares are fully vested and exercisable.

F3: 1,257 option shares are fully vested and exercisable and the remaining 4,000 option shares vest and become exercisable on February 16, 2008.