Tokyo, Japan - November 28, 2006

Yokogawa Begins Implementation of Vigilant Integration Partners (VIP) Initiative

Under the Vigilant Integration Partners (VIP) Initiative announced in February, Yokogawa Electric Corporation has entered into a formal mutual cooperation agreement with four control valve suppliers and is accelerating its efforts to play an active role in the global IA market.

The VIP Initiative is an open and non-exclusive mutual technological cooperation program that Yokogawa has proposed in order to realize standard-based interoperability in control systems, sensors, and control valves in the process automation field.

In the first stage, Yokogawa will cooperate with the leading control valve suppliers Dresser-Masoneilan, Flowserve, Metso Automation, and Samson AG to ensure that its PRM asset management system and CENTUM series production control system are interoperable with their control valves. Through this initiative, Yokogawa will provide customers an environment that ensures safe and reliable operation.

In the future, Yokogawa will promote further technological cooperation with these four companies and develop solutions that integrate their partial stroke tests and self-diagnostics functions each of which is different from those of other suppliers. This enables PRM to realize truly integrated management of valves from multiple vendors.

Customer Benefits
This VIP Initiative assures smooth integration and interoperability between the field devices supplied by VIP member companies and Yokogawa's CENTUM series production control and PRM asset management systems. Interoperability is guaranteed by full support of both Field Device Tool (FDT - a new standard field device interface) and Electronic Device Description Language (EDDL - a long-existing standard description language for defining field device parameters).

This guarantee of open standard-based interoperability enables Yokogawa customers to implement state-of-the-art plant asset management solutions flexibly and efficiently, avoiding compatibility concerns and supplier-enforced limitation of choice.

Yokogawa and the VIP member companies are further joining forces for the ongoing development of innovative plant asset management solutions such as predictive diagnostics and process performance diagnostics that can be deployed by customers using open standard-based production control systems and plant asset management systems.

Member Company Benefits
Yokogawa and the VIP member companies can jointly promote the field devices supplied by the VIP member companies to customers of Yokogawa's CENTUM and PRM systems. Furthermore, the technical collaboration framework is fully open and standard-based, enabling VIP member companies to avoid proprietary R&D costs associated with supplier-specific frameworks. The plant asset management solutions developed under the VIP Initiative are fully compatible with any plant asset management systems that support the open FDT and EDDL standards. A VIP member company must be a supplier of best-in-class field devices and must support both FDT and EDDL. Suppliers supporting both of these standards are true proponents of customer-centric openness and interoperability.

Future Plans
Yokogawa plans to expand the VIP Initiative by enhancing its field instrument line-up, and enriching complementary product support portfolios as well as enterprise asset management solutions. The same principle of open, non-exclusive, standard-based, interoperability-driven partnership will be applied in expanding the scope of the VIP Initiative.

Member Companies

Dresser Masoneilan is a global leader in providing innovative best fit control valve solutions for the process industries. With over 120 years of experience, Masoneilan supplies the industry's widest range of general and severe service control valves, actuators, instrumentation, accessories, software and field service support. Masoneilan has a significant presence in virtually all corners of electrical power generation, hydrocarbon exploration & production, oil & gas processing and refining, as well as the petrochemical, chemical, food & beverage, pulp & paper, and mining industries.

Flowserve Corp.(NYSE:FLS) is one of the world's leading providers of fluid motion and control products and services. Operating in 56 countries, the company is a recognized leader in the Chemical, Power and Oil & Gas industries. Flowserve's valve business offers highly respected brands of control valves and digital products including Valtek, Kammer, NAF, Schmidt, and PMV. For more than a century, Flowserve engineers have been applying their knowledge and creativity to provide solutions for some of the world's toughest applications.

Metso Automation's Neles product line's smart positioners, partial stroke testing solutions, control, on-off and ESD valves, accessories and software products offer innovative, yet fundamentally simple construction, operation, and maintenance features to optimize process performance at the lowest cost in oil and gas, petrochemical, refining, pulp and paper and other process industries. Metso Automation operates worldwide and has sales and customer support units in 34 countries in Europe, North and South America, Asia and Australia, and Africa.

SAMSON AG is recognized worldwide as a synonym for high-quality work, entrepreneurial spirit and innovative strength. Founded in 1907, SAMSON has become a worldwide leading manufacturer of expertly engineered control valves, positioners and accessories for all industrial processes. Modular design of its products offers quick local supply. A worldwide network of 47 subsidiaries and 145 associated engineering and service centers guarantee global expertise and service support.