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David Harrison Named Executive Vice President, CFO Of Pentair, Inc.
02.14.2000

ST. PAUL, MN - David D. Harrison, a financial executive who was a strong participant in the mid-1990s reengineering strategy of Pentair, Inc. (NYSE: PNR), has rejoined the company as executive vice president and chief financial officer (CFO) Pentair announced today.

Harrison, 52, most recently has been executive vice president and CFO of The Scotts Company (NYSE: SMG), the world's leading supplier of consumer products for lawn and garden care. He moved from Pentair in 1996 to become executive vice president and CFO of Coltec Industries, a diversified manufacturing company that was acquired by BF Goodrich in early 1999.

Harrison was with General Electric for 22 years in a variety of domestic and international management positions. Prior to first joining Pentair, Harrison served as vice president of finance and information technology for Camco, Inc., a Toronto, Canada-based public company of which GE is majority owner. Prior experience includes senior finance positions at GE and Borg-Warner operations in Hungary and The Netherlands, as well as in the United States. A Certified Management Accountant, Harrison holds an MBA degree in financial management from Ohio University, Athens, Ohio, and a BA degree from Marietta College, Marietta, Ohio.

"Dave made significant contributions to Pentair after he joined us in 1994," said Winslow H. Buxton, chairman and CEO of Pentair. "Now, due largely to the growth strategies that Dave took part in developing, Pentair is a $3 billion company that is poised for significant future growth on both the bottom and top lines. We welcome Dave back to our senior management team.

"We have reached new heights in our corporate evolution, and the new business model we have introduced dictates some fine tuning of our senior management team," Buxton said. "Late last year, we strengthened our management team with the appointment of Randall J. Hogan as president and COO. Dave Harrison's appointment gives us considerable depth in financial management and investor relations, befitting a company of our size and potential."

In 1999, Pentair reported record sales and pre-charge earnings from continuing businesses for the eighth consecutive year, and improved operating margins by 70 basis points. The company's operating income rose 58 percent in the fourth quarter of 1999, while revenues kept pace with a 50 percent gain.

Harrison succeeds Richard W. Ingman in the CFO position. Ingman, formerly the president of Pentair's Hoffman Enclosures unit, had been appointed CFO in 1996. He has retired from Pentair.

"Richard made many important contributions to Pentair's recent performance," Buxton said. "We appreciate his talent and dedicated efforts to help Pentair grow and develop."

Pentair (http://www.pentair.com) is a diversified manufacturer operating in three principal markets: professional tools and equipment, water and fluid technologies, and electrical and electronic enclosures. The company employs 14,000 people in more than 50 locations around the world.

Any statements made about the company's anticipated financial results are forward-looking statements subject to risks and uncertainties such as those described in the company's Annual Report on Form 10K for the year ended December 31, 1999. Actual results may differ materially from anticipated results.

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