For immediate release

New Flow Research Study Finds Dramatic Changes in

the Vortex Flowmeter Market

Wakefield, Massachusetts, March 22, 2006 — A new research study finds that dramatic changes are occurring in the vortex flowmeter market. The new study from Flow Research (www.flowresearch.com) is called The World Market for Vortex Flowmeters, 3^rd Edition. The worldwide vortex flowmeter market totaled $176 million in 2005, according to this study. Revenues from sales of vortex flowmeters are projected to increase at a compound annual growth rate (CAGR) of 6.4 percent through 2010, when they are expected to reach $240 million.

One of the most dramatic changes in the vortex flowmeter market is the current formulation by the American Petroleum Institute (API) of standards for vortex flowmeters in custody transfer applications. These standards respond to the expressed needs of both manufacturers and end-users of vortex flowmeters, and apply to both liquid and gas applications. If approved, these standards are likely to have a very positive impact on the market.

The past five years have seen major product enhancements to vortex flowmeters. Suppliers have responded to vibration issues by implementing software and electronics, including digital signal processing, which reduce the susceptibility of vortex meters to interference from vibration. Some manufacturers have introduced reducer vortex flowmeters, which have a reduced diameter in the center of the pipe. This not only simplifies vortex flowmeter installation, but also improves the ability of vortex flowmeters to accurately measure fluids at low flowrates. The growing availability of multivariable vortex flowmeters is also helping boost sales of vortex flowmeters, with more manufacturers entering the market.

According to Dr. Jesse Yoder, president of Flow Research, these changes are very positive for vortex flowmeters. “I have not seen a time in the past twelve years when conditions were so favorable for the vortex flowmeter market. The formulation of standards, together with product improvements, are giving companies more and better reasons to buy vortex flowmeters. In addition, end-users are becoming more familiar with the technology. This is a time of dramatic change in the vortex flowmeter market.”

Flow Research, Inc.

Flow Research (www.flowresearch.com) is a market research company that specializes in providing market data and strategies on flow, pressure, and temperature products. In addition to the 400-page study, The World Market for Vortex Flowmeters, 3^rd Edition (http://www.flowresearch.com/Vortex_Study/welcome.htm), current study topics include differential pressure flowmeters, primary elements, temperature sensors, and temperature transmitters. Flow Research has recently completed a worldwide survey of flowmeter users that is available as a separate study. The Worldflow Monitoring Service provides quarterly updates on the flowmeter and energy industries.

Total Worldwide Shipments of Vortex Flowmeters

(Millions of Dollars)

Compound Annual Growth Rate (CAGR) = 6.4%

-30-

Compound Annual Growth Rate (CAGR) = 6.4%

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