Dresser-Rand to Acquire Turbo Machines Field Services (Pty) Ltd.

HOUSTON, April 27 /PRNewswire-FirstCall/ -- Dresser-Rand Group Inc. ("Dresser-Rand" or the "Company") (NYSE: DRC), a global supplier of high-speed rotating equipment and service solutions, announced today that Dresser-Rand has signed an agreement to acquire the assets of Turbo Machines Field Services (Pty) Ltd. ("TMFS"). Closing is expected to occur in early May 2010.

TMFS, an independent company founded in 1997, is headquartered in Centurion, near Johannesburg, South Africa, where it operates a state-of-the-art service and repair facility. TMFS is the leading South African non-OEM replacement parts supplier for steam turbine and centrifugal compressor products manufacturing key components such as turbine blades, compressor impellers, bearings and seals.  Additionally, TMFS provides engineered solutions for equipment upgrades and field services for critical rotating equipment applications.  The company's clients are in the oil, gas, petrochemical, and industrial sectors located primarily in South Africa and the rest of the sub-Saharan market.

"The acquisition is consistent with Dresser-Rand's strategy of core business expansion in key and underserved markets, and provides the Company with a local presence close to major end users and access to an extensive installed base of rotating equipment in sub-Saharan Africa. The Company believes that being local is crucial to developing aftermarket and new unit opportunities," said Luciano Mozzato, Dresser-Rand's executive vice president, Services Worldwide.

Additionally, the acquisition provides Dresser-Rand additional capabilities to expand engineered solutions for the power generation sector and enhance its Applied Technology and Field Services businesses in this key geography. The acquisition is expected to be neutral to earnings in the first year and accretive thereafter.

"TMFS has an excellent reputation in the markets it serves as evidenced by its long-term relationships with major end users. The company has strong manufacturing engineering, applied engineering and metallurgical capabilities focused on providing upgraded turbo-machinery parts that solve operating problems. It strengthens Dresser-Rand's capabilities to service and repair the installed base of rotating equipment in the region," said Nicoletta Giadrossi, Dresser-Rand's vice president and general manager for Europe, Middle East, and Africa. "TMFS is expected to provide us with an excellent platform for modernizing non Dresser-Rand equipment with our latest technology throughout this region. The company has an experienced management team, a reputation for high quality and excellent service, and an impressive record of profitable growth."

Danie Grobler, TMFS' co-founder and Managing Director, added, "We are truly excited about becoming part of a global OEM with the reputation and resources to create opportunities we could not create on our own. We look forward to the added capabilities and offerings we can now bring to clients, and I am confident that the combination of Dresser-Rand and TMFS provides unparalleled value for our clients and opportunities for growth in the region."

About Dresser-Rand

Dresser-Rand is among the largest suppliers of rotating equipment solutions to the worldwide oil, gas, petrochemical, and process industries.  The Company operates manufacturing facilities in the United States, France, United Kingdom, Germany, Norway, India, and China, and maintains a network of 37 service and support centers covering more than 140 countries.

This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include, without limitation, the Company's plans, objectives, goals, strategies, future events, future bookings, revenues, or performance, capital expenditures, financing needs, plans, or intentions relating to acquisitions, business trends, executive compensation, and other information that is not historical information.  The words "anticipates", "believes", "expects", "intends", "appears", "outlook", and similar expressions identify such forward-looking statements. Although the Company believes that such statements are based on reasonable assumptions, these forward-looking statements are subject to numerous factors, risks, and uncertainties that could cause actual outcomes and results to be materially different from those projected.  These factors, risks and uncertainties include, among others, the following: potential for material weaknesses in its internal controls; economic or industry downturns; the variability of bookings due to volatile market conditions, subjectivity clients exercise in placing orders, and timing of large orders; volatility and disruption of the credit markets; its inability to generate cash and access capital on reasonable terms and conditions; its inability to implement its business strategy to increase aftermarket parts and services revenue; competition in its markets; failure to complete or achieve the expected benefits from any future acquisitions; economic, political, currency and other risks associated with international sales and operations; fluctuations in currencies and volatility in exchange rates; loss of senior management; environmental compliance costs and liabilities; failure to maintain safety performance acceptable to its clients; failure to negotiate new collective bargaining agreements; unexpected product claims and regulations; infringement on its intellectual property or infringement on others' intellectual property; difficulty in implementing an information management system; and the Company's brand name may be confused with others.  These and other risks are discussed in detail in the Company's filings with the Securities and Exchange Commission at www.sec.gov.  Actual results, performance, or achievements could differ materially from those expressed in, or implied by, the forward-looking statements.  The Company can give no assurances that any of the events anticipated by the forward-looking statements will occur or, if any of them does, what impact they will have on results of operations and financial condition.  The Company undertakes no obligation to update or revise forward-looking statements, which may be made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.  For information about Dresser-Rand, go to its website at www.dresser-rand.com.

DRC-FIN

SOURCE Dresser-Rand Group Inc.