DALLAS, TEXAS (April 5, 2006) - Dresser, Inc. announced today that it is seeking an extension from the lenders under its senior secured credit facility and senior unsecured term loan of its  financial statement delivery requirement.  The request would extend the deadline to Sept. 30, 2006, for providing audited financial statements for the fiscal year ended Dec. 31, 2005, and unaudited financial statements for the fiscal quarters ended March 31 and June 30, 2006.   

Except for the delivery of its financial statements and related Securities and Exchange Commission filings, the company believes it is in compliance with all other requirements of its credit facility and loan agreements.

The company said the delay was necessary in order to address certain accounting issues, including the need for certain accounting and auditing procedures related to a foreign joint venture.  The financial results of the joint venture did not become significant to the company until Dresser sold two of its business units on Nov. 30, 2005. Dresser estimates its portion of the net income from the joint venture in 2005 to be less than $3 million.  In 2005, the company received approximately $1.9 million in cash dividends from the joint venture.   

The company noted that it does not expect any of the accounting issues to affect its cash position, but some could potentially affect the timing of recognition of certain revenues and expenses.  

As the company has previously noted, its backlog, bookings and cash flow remain strong. Since early December 2005, it has made approximately $276 million in voluntary prepayments on its debt, consisting of $236 million from the net cash proceeds of the divestitures and $40 million from its operating cash flow.  It will make its next regularly scheduled interest payment to the holders of its 9 3/8% Senior Subordinated Notes on April 14, 2006.

            About Dresser, Inc.

Dresser, Inc. is a worldwide leader in the design, manufacture and marketing of highly engineered equipment and services sold primarily to customers in the flow control, measurement systems, and compression and power systems segments of the energy industry. Headquartered in Dallas, Texas, Dresser has a comprehensive global presence, with approximately 6,500 employees and a sales presence in more than 100 countries worldwide. The company's website is www.dresser.com.

            Safe Harbor Statement: 

This document contains forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including without limitation, the company's expectations regarding the completion of the audit of its 2005 financial statements  and the filing of unaudited results for the three-month periods ending March 31 and June 30, 2006; cash flow and net income effects of the various accounting issues referred to above; compliance with the covenants under its financing agreements and the various amendments, consents and waivers that may be required thereunder; and market conditions, backlog, bookings and cash flow.  Actual results may differ from the expectations described in these forward-looking statements, which are subject to factors that are not in every case under the company's control.  Factors that could affect the company's forward-looking statements may include, among other things, unexpected effects from the 2005 audit, quarterly financial statement reviews, and the current accounting issues, including discontinued operations treatment of the divested businesses, on the company's financial position, results of operations or liquidity, and unanticipated changes to the company's previously issued financial statements.  In addition, see the "Risk Factors" disclosure in the company's Quarterly Report on Form 10-Q for the period ended Sept. 30, 2005.

Because the information herein is based solely on data currently available at this time, it is subject to change as a result of situations over which the company may have no control or influence, and should not therefore be viewed as an assurance regarding such information.  Additionally, the company is not obligated to make public disclosure of such changes unless required to do so under applicable rules and regulations.

COMPANY CONTACT:

Jenny Haynes

Vice President of Investor Relations and Communications

(972) 361-9933

Jenny.haynes@dresser.com