JP MORGAN BASICS & INDUSTRIAL CONFERENCER O B E R T K U H B A C H / P A U L G O L D B E R G

NEW YORK, NY – JUNE 3, 2008

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Forward Looking Statements

We want to remind everyone that our comments may contain forward-looking statements that are inherently subject to uncertainties. We caution everyone to be guided in their analysis of Dover Corporation by referring to our Form 10K for a list of factors that could cause our results to differ from those anticipated in any such forward looking statements.

We would also direct your attention to our internet site, www.dovercorporation.com, where considerably more information can be found.

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. . . a $7 billion global provider of innovative equipment, specialty systems and value added services for the industrial products, fluid management, engineered systems and electronic technologies markets.

. . . focuses on growing organically 5-7% over a business cycle and strategically invests in value creating acquisitions.

. . . returns value to shareholders through earnings growthinitiatives, annually increased dividends and strategic share repurchases.

. . .

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Record Financial Results

Four Segment Structure Improves Clarity

Platforms For Sustained Growth

Strategic Capital Allocation

Outlook for 2008

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Sustainable Growth Story

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

2003 2004 2005 2006 2007

Rev

enue

0

100

200

300

400

500

600

700

800

Earn

ings

Revenue Earnings from Continuing Operations

5-yr CAGR 17.9% 5-yr CAGR 25.3%

($000)

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Balanced Growth

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

2003 2006 2007

CurrencyAcquisitionOrganicBase

Sales ($000)

Organic Growth Rate: Target 5-7%... 5 yr. Average 8.9%

50%

45%

5.2%Core Industrial

2.3%Organic

9.7%Acquisition

2.2%Currency

2007 Growth

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Geographic Revenue Mix (Q1 2008)

Rest Of World 10.5%

ASIA 12.6%

Europe 21.5%

United States 55.4%

Dover Growth Rate: 8%

First QuarterFirst Quarter

Growth RateGrowth Rate

6.5%6.5%25.5%25.5%

6.1%6.1%

5.5%5.5%

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Strong Free Cash Flow

Source of Dover strength– Consistency– Outcome of metrics focus– $728 million in 2007– 111% conversion rate in

2007 (FCF / earnings from continuing ops)

Facilitates strategic capital allocation

0%

2%

4%

6%

8%

10%

12%

2004 2005 2006 2007

Free Cash Flow as a % of RevenueFree Cash Flow as a % of Revenue

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2007

INDUSTRIALProducts

FLUID Management

ENGINEEREDSystems

ELECTRONICTechnologies INDUSTRIAL

Products

ELECTRONICTechnologies

FLUID Management

ENGINEEREDSystems

Sales Earnings

30%

21%

30%

19%

29%

17%28%

26%

New Segment Structure

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2007Revenue

New Platform Structure

Energy11%

13%

Mobile Equipment

Electronic Technologies

Material Handling

Fluid Solutions

Product ID

Engineered Products

17%

13%

17%19%

10%

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Dover’s Q1 2008 Performance

0.000.050.100.150.200.250.300.350.400.450.500.550.600.650.700.750.800.850.90

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

Continuing Earnings Per Share

2005 2006 2007

$2.12

$2.88

$3.22$104M

1.8%

2.8%

14.1%

$0.76

$1.9B

5.8x

60 bps

+16%

+8%

$18MFree Cash Flow

4.0%Organic Growth

12.8%Acquisition Growth

13.5%Segment Margins

$0.65EPS

$1.7BRevenue

• Business activity remains strong across the portfolio

•Book-to-bill was 1.06

• Organic growth of industrial companies was 3.2%

• Energy, Fluid Solutions and Product ID platforms performing at a high level

• Positive leverage at 3 of 4 segments

• Strong free cash flow at 5.6% of revenue

• Share repurchase activities on target

Q1 ‘08 Q1 ‘07 Q/Q

‘08

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Revenue Growth (Q1 2008)

7.9%9.5%11.8%6.2%5.9%Total

3.2%6.5%2.6%3.8%1.2%Currency

1.9%2.0%1.5%0.0%3.6%Acquisition

2.8%1.0%7.7%2.4%1.1%Organic

Total Dover

Electronic Technologies

Fluid Management

Engineered Systems

Industrial Products

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Industrial Products

$551$583

Q1 2007 Q1 2008

$70

$76

Q1 2007 Q1 2008

Revenue($ in millions)

Operating Earnings($ in millions)

↑ 6%

Mobile Equipment(14% of Dover)

– Revenues increase due to strong oil field, aerospace and military sales

– Earnings driven by volume and cost reductions

– Backlogs up 15% vs. prior year, Book-to-bill of 1.09

Material Handling(18% of Dover)– IMC acquisition by De-Sta-Co – sales

integration complete – Lantec acquired by Tulsa Winch in

March 2008 – integration begun– Business is mixed, strong international,

infrastructure and military sales; U.S. automotive and construction remains challenged

↑ 8%

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Industrial Products

Winch companies will continue to grow– Military contracts– Oilfield demand

Continued challenges in heavy construction– Performance enhancing initiatives underway– No market improvement expected

Waste handling will be strong– Solid backlog– Class eight chassis delivery improves

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Engineered Systems

$492$522

Q1 2007 Q1 2008

$51

$64

Q1 2007 Q1 2008

Revenue($ in millions)

Operating Earnings($ in millions)

↑ 6%

Engineered Products(16% of Dover)– Strong performance in

refrigeration systems & cases, heat exchangers

– Tough comps in beverage can equipment

Product Identification(12% of Dover)

– Revenue increase driven by double-digit gains in direct marking business

– Earnings reflect cost savings realized from Markem•Imajeintegration activities, off-setting $3M in related expense

– Strong order backlog entering second quarter.

↑ 25%

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Engineered SystemsSignificant improvements in Product ID– Markem margins up 700 bps– > 50% of revenue tied to fast moving consumer goods– Recurring revenue > 50%

Food display equipment fundamentals are sound– Growth will be driven by “sustainability” factors– Well-developed plan to diversify customer base

Heat exchanger business will continue to expand

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Fluid Management

$359$401

Q1 2007 Q1 2008

$74$85

Q1 2007 Q1 2008

Revenue($ in millions)

Operating Earnings($ in millions)

↑ 12%

`

Energy(11% of Dover)

– Results driven by growth in U.S. oil and gas drilling and worldwide demand for power generation

– Operational improvements and product mix increased earnings and margins

Fluid Solutions(10% of Dover)– General strength across most

industrial markets – Backlog up 30%.– Business mix and operational

focus improved earnings and margins

↑ 15%

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Fluid ManagementContinued strength in energy– Broad product engagement in downhole

drilling, production and logging equipment– Positive power generation trends– Focus on globalizing revenue base

Pump and dispensing businesses remain consistent– Global footprint– Expanded product offerings– Chemical, pharmaceutical and wastewater

processing capex budgets drive business– Regulatory environment provides opportunity– Consistent sustainable performance

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Electronic Technologies

$321$352

Q1 2007 Q1 2008

$37 $36

Q1 2007 Q1 2008

Revenue($ in millions)

Operating Earnings($ in millions)

↑ 10%

Electronics Technology19% of Dover

– Business activity is mixed across the segment with book-to-bill of 1.02

– Continued investments in new products

– $3M restructuring charges in the quarter (primarily severance)

– Impact of restructuring should result in $7 million of savings for remainder of year

– Inflationary pressures in Asia (mainly China) from currency and other costs impacted margins by 100 bps

↓ 2%

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Electronic TechnologiesCell phone market continues to grow 10% annually– Customer mix was improved– Dominance in MEMS technology continues

New product applications in military, telecom and audio result in broader marketsRevenues related to fabrication and testing of semiconductors and boards are flat– Adjustments being made to reflect current business

environment– Margin improvement is a focus

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PERFORMANCECOUNTS

25.9%

19.2%

13.5%

5.0%

6.4

Q1 2007

25.8%25%ROI (Operating)

19.1%20%WC as a % of Revenue

14.1%15%Operating Margins

8.8%10%Earnings Growth

6.68Inventory Turns *

Q1 2008Target

* Dover has improved inventory turns four consecutive years

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Going Forward2005 - 2007

Value Creation Continues

New Management TeamPortfolio TransformationPERFORMANCECOUNTSRefocus AcquisitionsRecurring Revenue ThemeGlobalizationCapital Allocation FocusBest Financial Results in Dover’s History

Four Segment StructurePlatform DevelopmentPERFORMANCECOUNTSCapturing SYNERGYMinimize VolatilityManagement DevelopmentStrategic Capital AllocationContinue Improvement in Financial Performance

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Strategic Capital AllocationAcquisitions– Strategic add-ons to bolster existing platforms – High pricing expected to gradually moderate– 2008 should favor strategic buyers

Share Repurchase– Two programs announced in 2007 totaling approximately $1 billion

• First program completed in 2007 (10 million shares)• Second program underway, $200 million remaining

Long history of increasing dividend each year– Increased 8% in 2007; 28% - 32% of net earnings

We have the capacity to do all three

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Seeking Synergy

4% 4% -- 6%6%EarningsEarnings

ImprovementImprovement

Overhead cost structureExpanding role of Supply Chain CouncilShared facilitiesBusiness system consolidationsExamples:– Energy Platform– Product ID– Pump Group– Others

Emphasis on Tangible Value Creation

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First Quarter 2008 OverviewNet Debt to Capital Ratio

– 28.0%: up 60 bps over 2007 year-end, reflective of higher total debt level to fund share repurchase program

Free Cash Flow– $103.7 million; 5.6% of revenue

• Historically high for the 1st quarter

Effective Tax Rate– 29.5%, up 120 bps

• Prior year benefited from discrete event and extension of R&D credit.

Acquisitions– One add-on by Tulsa Winch (Lantec Winch and Gear Inc.) for $22 million, net

of cash acquired.– Two acquisitions done subsequent to quarter close (Brady Bit & Neptune).– Total year-to-date acquisition spend: ≈ $100M.

Share Repurchase Program– Repurchased 3.6 million shares for $150 million.

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Recent Fluid Management Road Trip17 buy-side and sell-side analysts visited US Synthetics (Orem, UT) & Wilden Pumps (Grand Terrace, CA) in early May.Full Fluid Management overviewEmergent Themes:– Healthy & sustainable end-markets

• Emerging global infrastructure• Strong global demand for energy• Innovative products

– Keen focus on manufacturing excellence• Lean techniques widely employed• Vigorous pursuit of synergy

– Highly motivated and dedicated management teams• Entrepreneurial spirit intact• Deep pools of management talent

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2008 Outlook – Full Year

Organic growth: mid single digitsMargin improvement: Full year up 50 – 75 bpsCapital expenditures: $150 – $175 millionInterest expense: $88 - $92 millionFull-year tax rate: 27% – 28% (quarterly variance)Free cash flow for full year: 10% of revenueCorporate expenses: $95 - $100 millionShare repurchases remaining: <$200 million

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… A Solid Growth Story with Record Financial ResultsMetrics are Driving Improved Results

… New Organization Structure Driving ChangeGrowth Platforms Emerging, Operating Style Evolving, Clarity is Improving, Focus on Synergy

… Strategic Capital Allocation DisciplineBalancing Growth and Shareholder Return

… Time Honored Value System Intact