FLOWSERVE CORP — Director's Dealing 2007

Apr 30, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2007-04-30

Reporting Person: RUSNACK WILLIAM C (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-04-30	Common Stock ($1.25 par value per share)	M	1393	$26.54	Acquired	1393	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-04-30	Stock Option (right-to-buy)	$26.54	M	1393	Disposed	2007-05-06	Common Stock (1393)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock ($1.25 par value per share)	13153	Indirect
Common Stock ($1.25 par value per share)	3100	Indirect
Common Stock ($1.25 par value per share)	3800	Indirect

Footnotes

F1: All of the option shares are fully vested and exercisable.