FLOWSERVE CORP — Director's Dealing 2008

Aug 1, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLOWSERVE CORP (FLS)
CIK: 0000030625
Period of Report: 2008-08-01

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-01	Common Stock ($1.25 par value per share)	M	4000	$30.95	Acquired	38026	Direct
2008-08-01	Common Stock ($1.25 par value per share)	S	3988	$131.3485	Disposed	34038	Direct
2008-08-01	Common Stock ($1.25 par value per share)	S	5000	$131.3896	Disposed	29038	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-08-01	Stock Option (right-to-buy)	$30.95	M	4000	Disposed	2015-07-13	Common Stock (4000)	Direct

Footnotes

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