Lufkin's Chairman and CEO to Retire

Lufkin Industries reports that Douglas V. Smith, CEO and chairman of the Board of Directors, plans to retire effective March 1, 2008.

Smith, age 65, who began his service with Lufkin in January 1993, will continue to serve as Chairman of the Board following his retirement.

The Board of Directors has identified John F. "Jay" Glick, President of Lufkin, to succeed Smith as the company's CEO following Smith's retirement.

Glick, age 55, has been a senior officer of the company since 1994, during which time he has also served as vice president, general manager of both the Oil Field and Power Transmission divisions.

Lufkin Industries, Inc. sells and services oil field pumping units, foundry castings, power transmission products and highway trailers throughout the world. The company has vertically integrated all vital technologies required to design, manufacture and market its products.