FLOWSERVE CORP — Director's Dealing 2008

Aug 8, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2008-08-08

Reporting Person: Pajonas Thomas L (SVP & Pres. Flow Control Div.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-08	Common Stock ($1.25 par value per share)	M	8333	$30.95	Acquired	40506	Direct
2008-08-08	Common Stock ($1.25 par value per share)	M	5000	$27.97	Acquired	45506	Direct
2008-08-08	Common Stock ($1.25 par value per share)	S	19333	$119.4078	Disposed	26173	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-08-08	Stock Option (right-to-buy)	$30.95	M	8333	Disposed	2015-07-13	Common Stock (8333)	Direct
2008-08-08	Stock Option (right-to-buy)	$27.97	M	5000	Disposed	2015-04-20	Common Stock (5000)	Direct

Footnotes

F1: The exercise of the stock options and sale of the shares of common stock were effected pursuant to a Rule 10b5-1 trading plan previously adopted by the reporting person.