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Pentair Announces Pricing on Its Cash Tender Offer for All of Its 7.85% Senior Notes Due 2009

July 21, 2008

MINNEAPOLIS--(BUSINESS WIRE)--July 21, 2008--Pentair, Inc. (NYSE:PNR) today announced the total consideration to be paid pursuant to its cash tender offer (the "Tender Offer") for all of its 7.85% Senior Notes due 2009:

  Company Name:                            Pentair, Inc.
  Coupon:                                  7.85 percent
  Maturity:                                October 15, 2009
  CUSIP:                                   709631AB1
  Commencement:                            July 8, 2008
  Expiration Date:                         August 4, 2008
  Reference Security Yield:                2.675 percent
  Fixed Spread (bps):                      +175
  Tender Offer Yield:                      4.425 percent
  Total Consideration Excluding Accrued    $1,040.48 per $1,000
   Interest:                                principal

  Early Settlement Date:                   July 22, 2008
  Accrued Interest Payable on Early        $21.15 per $1,000 principal
   Settlement Date:

  Final Settlement Date:                   Expected to be August 5,
  Accrued Interest Payable on Expected     $23.99 per $1,000 principal
   Final Settlement Date:

The Tender Offer is being made upon the terms and subject to the conditions set out in Pentair's Offer to Purchase dated July 8, 2008 and the related Letter of Transmittal, as amended by its press release dated July 17, 2008.

Questions concerning the terms of the tender offer may be directed to the dealer manager, Banc of America Securities LLC at (888) 292-0070 (U.S. Toll-Free) or (704) 683-3215 (Collect). Copies of the Offer to Purchase may be obtained by calling the information agent, Global Bondholder Services Corporation at (866) 952-2200 (Toll Free) or at (212) 430-3774 (banks and brokerage firms).


Any statements made about the company's anticipated financial results are forward-looking statements subject to risks and uncertainties such as continued economic growth, including: the strength of housing and related markets; the ability to integrate acquisitions successfully and the risk that expected synergies may not be fully realized or may take longer to realize than expected; foreign currency effects; retail and industrial demand; product introductions; and pricing and other competitive pressures, as well as other risk factors set forth in our SEC filings. Forward-looking statements included herein are made as of the date hereof, and the company undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances. Actual results could differ materially from anticipated results.


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 Technical Products Group is a leader in the global enclosures and thermal management markets, designing and manufacturing thermal management products and standard, modified, and custom enclosures that house and protect sensitive electronics and electrical components. With 2007 revenues of $3.30 billion, Pentair employs approximately 16,000 people worldwide.

CONTACT: Pentair, Inc.
Investor Relations:
Todd Gleason, 763-656-5570
Rachael Jarosh, 763-656-5280

SOURCE: Pentair, Inc.