Bear Stearns Investor Conference December 7, 2005

1. Bear Stearns Investor Conference December 7, 2005

2. CAUTIONARY STATEMENT CONCERNINGFORWARD-LOOKING INFORMATION AND OTHER INFORMATION In addition to historical information, this presentation contains forward-looking statements, identified by use of words such as “expects,” “anticipates,” “estimates,” and similar expressions. These statements reflect the Company’s expectations at the time this release was issued. Actual events and results may differ materially from those described in the forward-looking statements. Among the factors that could cause material differences are a significant decline in capital expenditures in specialty chemical and pharmaceutical industries, a major decline in oil and natural gas prices, foreign exchange rate fluctuations, the impacts of Sarbanes-Oxley section 404 procedures, work stoppages related to union negotiations, customer order cancellations, the ability of the Company to comply with the financial covenants and other provisions of its financing arrangements, the ability of the Company to realize the benefits of its restructuring program in its Pharmaceutical Segment, including the receipt of cash proceeds from the sale of excess facilities and general economic conditions that can affect demand in the process industries. The Company undertakes no obligation to update or revise any forward-looking statement. This presentation refers to various non-GAAP measures. Earnings and earnings per share excluding special items are non-GAAP financial measures. The Company believes these measures are helpful to investors in assessing the Company’s ongoing performance of its underlying businesses before the impact of special items on its financial performance. In addition, these non-GAAP measures provide a comparison to our previously announced earnings guidance, which excluded these special items. Earnings and earnings per share before special items are reconciled to earnings presented according to GAAP in our applicable 10-Q and 10-K.

3. A Leading Global Supplier of Fluid Management and Process Solutions Equipment and Systems for the Energy,Chemical, Industrial and Pharmaceutical Markets

4. Oilfield Equipment & Services Power Sections Wellhead Products Down-hole Pump Systems Wastewater Treatment & Industrial Equipment Progressing Cavity Pumps Grinding Systems Chemical Processing Equipment Industrial Agitators & Mixing Equipment Specialty Chemical Processing Fluoropolymer Based Products Chemical & Pharmaceutical Equipment Primary Processing Glass-lined Reactor Systems Agitation Systems Thermal Fluid Systems NEW ALIGNMENT OF PRODUCT LINES ROMACO FLUID MANAGEMENT PROCESS SOLUTIONS Secondary Processing Equipment for Pharmaceutical Market • Customized Packaging Equipment • Security & Inspection Systems

6. STRATEGIC FIT AND SYNERGIES • Common end markets served – CPI, oil & gas • Increase penetration into key accounts • Leverage – engineering expertise, purchasing, infrastructure cost • Expansion into international markets • Consolidation opportunities/align manufacturing • Improve profitability/ROA

7. BRAND PROFILE – FMG • Moyno Progressing Cavity Pumps (energy, wastewater, industrial) • Yale, Hercules & Sentry Brands (pipeline closure products & valves) • Moyno ERT (hydraulic drilling power sections for directional & horizontal drilling) • New ERA Rod Guides and Rodec Tubing Rotators (tube wear prevention equipment for rod guides & tubing rotators) • Guardian Variable Speed Drive (rod pump controller) • Moyno Ultra-Drive (drive heads)

8. FLUID MANAGEMENT

9. MARKET DRIVERS – FMG • Global demand for energy • Rig count year over year • Work over rig count • Price oil and gas • Funding of water & wastewater projects • CPI capital/maintenance spending • General U.S. industrial growth

10. BRAND PROFILE – PSG • Pfaudler/Tycon (glass-lined reactor & storage vessels), Chemineer (industrial mixers & agitators) & Edlon (fluoropolymer coated & lined vessels) product lines • Products used in specialty chemical, wastewater treatment, food & beverage, pulp & paper and global industrial markets • Equipment used to mix, blend, process, and store various materials • #1 or #2 market leader in respective niche markets

11. PROCESS SOLUTIONS

12. MARKET DRIVERS – PSG • Capacity utilization - CPI • Fine chemical demand • China • New API manufacturing capacity • India • General U.S. economic environment, food, pulp and paper, wastewater treatment.

13. BRAND PROFILE – ROMACO • Laetus, FrymaKoruma, Hapa and Siebler • Customized packaging equipment used in secondary processing of pharmaceuticals & cosmetics • Equipment provides dosing, filling & sealing of vials, capsules, tubes, bottles & blister packs • Security systems & inspection systems • Significant supplier in niche markets, compete with IMA & Bosch on full-line systems

14. Romaco

15. MARKET DRIVERS – ROMACO • New drug discovery • Emerging markets • Aging population • Growth of generic drugs • Direct consumer advertising • Demand for nutritional products

16. SERVED MARKETS 2005 Sales

17. STRONG AFTERMARKET SALES 2005 Sales

18. GLOBAL SALES 2005 Sales Canada & Mexico 12% United States Asia & Australia 37% Europe 15% 32% South America 4%

19. GLOBAL MANUFACTURING PRESENCE 5 PSG 2 FMG 11 Romaco 3 PSG 2 FMG 1 Romaco 5 PSG 6 FMG 1 Romaco 2 PSG 2 FMG

20. CHANNEL TO MARKET • PSG • Pfaudler/Tycon – direct sales & manufacturer representatives • Chemineer – manufacturers representatives • Edlon – direct sales & distributors • FMG • R&M Energy – direct sales & distributors • Moyno & Tarby – distributors & manufacturer representatives • Romaco • Romaco – direct sales, distribution network & manufacturer representatives

21. 2005 OPERATIONAL INITIATIVES

22. ROMACO UPDATE – 2005 • Potential buyers identified and offers being reviewed • Restructuring program continues • Final outcome to be negotiated by end of calendar year

23. RESTRUCTURING UPDATE – 2005 • Reduce complexity / leverage our assets • Plant closures • RSG facility in Italy • Romaco facility in Italy • Edlon LPF business • RSG Facility in Mexico • Edlon Bldg • Restructuring program first phase complete • Capacity expansion well underway in China • Product rationalization efforts continue • New China RSG Plant opened in October • Sale Status • Sold for $4.5 mil • Sold for $1.6 mil • Sold for $8.5 mil • Offer received • Listed for sale

24. LOOKING FORWARD • Fluid Management Group • Process Solutions Group • Romaco • FY 2006 initiatives • Plant consolidations • Low cost sourcing • Sharing resources across group • Leverage manufacturing capability/capacity • Pension program

25. FINANCIAL SUMMARY

26. SALES ($ in millions) ($ in millions) $605 $586 $561 $526 $175 $172 $170 $167 2002 2003 2004 2005

27. NET INCOME ($ in millions) 2003 2004 2005

28. FREE CASH FLOW* ($ in millions) Free cash flow = cash flow from operations, less capex *Non-GAAP measures

30. INVESTMENT RATIONALE • Strategic Focus - Fluid Management & Fluid Processing to drive future growth • Positioned to grow in Global Markets • Strong Cash Flow Generator • Releasing Excess Assets to Fund Restructuring, Improve the Balance Sheet, and Provide for Future Growth

31. QUESTIONS?