Press Release

SOURCE: Crane Co.

NTSB Clears Crane Fuel Pumps in TWA 800 Accident

STAMFORD, Conn., Aug. 30 /PRNewswire/ -- Crane Co. (NYSE: CR - news) took note of the report of the National Transportation Safety Board released last week regarding the July 1996 crash of TWA Flight 800.

The NTSB found the probable cause of the TWA flight 800 accident was an explosion of the center wing tank, most likely resulting from a short circuit outside the fuel tank that allowed voltage to enter the tank through wiring associated with the fuel quantity indication system. The NTSB effectively cleared Crane aerospace fuel manufactured by Hydro-Aire, Inc. and Lear Seigler, a predecessor of Crane's Lear Romec division.

The NTSB stated that it was ``very unlikely'' that the Crane pumps were the ignition source, lumping them together with other unlikely ignition sources such as a meteor strike, lightning, a missile fragment, a small explosive charge, auto ignition, hot surface ignition, a fire migrating from another fuel tank, and static electricity. The NTSB analysis follows the most extensive accident investigation even undertaken by the NTSB.

Crane Co. Chairman and Chief Executive Officer R. S. Evans commented: ``We have steadfastly believed that our fuel pumps did not cause this tragic incident, and we are pleased that the NTSB report cleared our products. We look forward to the prompt resolution of outstanding lawsuits against our products.''

Crane Co. is a diversified manufacturer of engineered industrial products.