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Dresser Wayne and Healy Systems Announce Exclusive Agreement

Healy Vapor Recovery Products Now Available On Factory-Built Wayne Dispensers.

AUSTIN, TX (July 16, 2004)— Dresser Wayne, a business unit of Dresser, Inc., and Healy Systems announced today an exclusive agreement to supply Healy vapor recovery products in factory-built dispensers manufactured by Dresser Wayne. This agreement is significant given the new vapor recovery regulations in various regions and Dresser Wayne’s commitment to provide the most cost- effective, regulatory compliant equipment solutions in the marketplace.

Dresser Wayne and Healy have been supplying innovative vapor recovery technology for decades and will jointly offer solutions to meet all current and pending California Air Regulations Board (CARB) regulations. As a result of the agreement between Dresser Wayne and Healy, the only CARB- approved, vacuum-assist dispenser for Onboard Refueling Vapor Recovery (ORVR) compliance and a solution that satisfies Enhanced Vapor Recovery (EVR) requirements will both be available in fourth quarter 2004. ORVR compatibility is currently required for new retail petroleum sites in California and Washington and will be required in Texas in 2005. EVR is required for new sites in California, Oregon and Washington beginning this October.

“We are pleased to bring two innovative companies together to provide vapor recovery solutions for our customers in time to meet the new regulatory deadlines,” said John Ryan, President of Dresser Wayne.

With expected product availability in the fourth quarter for Harmony, Ovation and Vista dispensers, Dresser Wayne is the first dispenser manufacturer to offer a factory-supplied, ORVR-compatible vapor assist solution. Healy has supplied ORVR-compatible assist vapor recovery solutions since October 1998 and, with Dresser Wayne dispensers, will offer the first EVR-approved product to the market this fall.

About Wayne Fueling Systems

Wayne Fueling Systems is one of the world’s largest suppliers of fuel dispensers, payment terminals, forecourt control devices, point-of-sale and other measurement and control solutions to the retail and commercial fueling industry. Wayne has been at the forefront of innovation since it was founded in 1891 and is responsible for many of the breakthrough technologies that have transformed fuel retailing. Through a global network of distributors and service partners, Wayne products are sold and supported in over 140 countries around the world. Headquartered in Austin, Texas, Wayne also has major design and assembly operations in Sweden, Brazil and China.