FLOWSERVE CORP — Director's Dealing 2007

Nov 15, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2007-11-12

Reporting Person: BLINN MARK A (SVP & Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-11-12	Common Stock ($1.25 par value per share)	M	8730	$30.95	Acquired	106612	Direct
2007-11-12	Common Stock ($1.25 par value per share)	F	5089	$90.07	Disposed	101523	Direct
2007-11-13	Common Stock ($1.25 par value per share)	M	3000	$30.95	Acquired	104523	Direct
2007-11-13	Common Stock ($1.25 par value per share)	F	1736	$92.00	Disposed	102787	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-11-12	Stock Option (right-to-buy)	$30.95	M	8730	Disposed	2015-07-13	Common Stock (8730)	Direct
2007-11-13	Stock Option (right-to-buy)	$30.95	M	3000	Disposed	2015-07-13	Common Stock (3000)	Direct

Footnotes

F1: 13,350 option shares are vested and exercisable and 9,500 option shares will vest and become exercisable on July 14, 2008.