PENTAIR plc — Director's Dealing 2004

Feb 26, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENTAIR INC (PNR)
CIK: 0000077360
Period of Report: 2004-02-25

Reporting Person: MAITLAND STUART (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-02-25	Nonqualified Stock Option (right to buy)	$52.9	A	5000	Acquired	2014-02-25	Common Stock (5000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5000	Indirect

Footnotes

F1: Non-qualified stock option granted under the Pentair, Inc. Outside Directors Non-Qualified Stock Option Plan.

F2: One-third of the stock options become exercisable on the first, second, and third anniversary of the grant.