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Pentair Partners With ITT Industries to Create FARADYNE Motors LLC

December 15, 2005
Will Bring Reliable, Cost Competitive Motors to Market for Industry Leaders

GOLDEN VALLEY, Minn., Dec. 15 /PRNewswire-FirstCall/ -- Pentair, Inc. (NYSE: PNR) today announced that it has entered into a joint venture agreement with ITT Industries, Inc. (NYSE: ITT) to create FARADYNE Motors LLC, a separate and stand-alone company. FARADYNE will design, develop and manufacture submersible pump motors for these two water technology leaders. Manufacturing will begin in 2006.

Charles M. Brown, Pentair president and chief operating officer for the pump and pool markets, said that the joint venture is consistent with Pentair's strategic sourcing disciplines. "Establishing FARADYNE is a win-win proposition for Pentair and its customers," he said. "This will enhance the quality and dependability of our already best-in-class pump products while contributing to long-term cost and supply stability for our customers. FARADYNE is another example of Pentair's continued commitment to deliver customers safe, clean water."

FARADYNE Motors is managed by a six-member governance board. It will be headquartered in Newark, New York. The terms of the joint venture agreement extend for five years.

Brown added, "Fundamental changes by our previous motor supplier last fall motivated Pentair to consider sourcing options. We believe FARADYNE Motors will bring to market the most reliable and competitive submersible pump motor."

About Pentair, Inc.

Pentair ( ) is a diversified operating company headquartered in Minnesota. Its Water Group is a global leader in providing innovative products and systems used worldwide in the movement, treatment, storage and enjoyment of water. Pentair's Enclosures Group is a leader in the global enclosures market, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components. With 2004 revenues of $2.28 billion, or $2.76 billion on a pro forma basis, Pentair has approximately 13,000 employees worldwide.

SOURCE Pentair, Inc.

Pentair Contacts: Rachael Jarosh, Communications, +1-763-656-5280, or , or Mark Cain, Investor Relations, +1-763-656-5278, or , both of Pentair