WACHOVIA – BOSTON INVESTOR ROADSHOWB O B L I V I N G S T O N • PAUL GOLDBERG

BOSTON –OCTOBER 6, 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%

Currency 2.2%

Acquisition 9.7%

Organic 2.3%

Core Industrial 5.2%

2007 Growth

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Geographic Revenue Mix (YTD June 2008)

Dover Growth Rate: 9%

YTDYTD

Growth RateGrowth Rate

9.2%9.2%27.8%27.8%

7.6%7.6%

5.2%5.2%

Growth in Asia was driven by increases in Electronic Technologies and Engineered Systems

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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 allocation2008 free cash flow is on track for another strong year

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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YTD 6/2008

INDUSTRIALProducts

FLUID Management

ENGINEEREDSystems

ELECTRONICTechnologies INDUSTRIAL

Products

ELECTRONICTechnologies

FLUID Management

ENGINEEREDSystems

Sales Earnings

32%

22%

27%

19%

31%

15%29%

25%

New Segment Structure

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YTD 6/2008Revenue

New Platform Structure

Energy12%

12%

Mobile Equipment

Electronic Technologies

Material Handling

Fluid Solutions

Product ID

Engineered Products

15%

15%

17%19%

10%

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Dover’s Q2 2008 PerformanceContinuing Earnings Per Share

2005 2006 2007

$2.12

$2.90

$3.30

Revenue $2.0B $1.8B +10%

EPS $0.98 $0.85 +16%Segment Margins 15.8% 15.6% +20bps

Organic Growth 5.4% -1.2%

Acquisition Growth 1.3% 11.8%

Free Cash Flow $192M $211M -9%

•Strong performance at Electronics Technology segment and Energy, Fluid Solutions, Product ID platforms

• Positive leverage at Fluid Management and Electronic Technology segments

• Strong 2nd quarter free cash flow at 9.6% of revenue; YTD $301M (up 29%)

• Q2 share repurchases = $198M

•Continued momentum in synergy and integration programs

Q2 ‘08 Q2 ‘07 Q/Q

2008

YTD$1.74

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Revenue Growth (Q2 2008)

Industrial Products

Engineered Systems

Fluid Management

Electronic Technologies

Total Dover

Organic 3.0% 0.3% 16.5% 5.2% 5.4%

Acquisition 1.4% -- 4.0% -- 1.3%

Currency 1.2% 5.5% 2.5% 6.3% 3.5%

Total 5.6% 5.8% 23.0% 11.5% 10.2%

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Industrial ProductsRevenue($ in millions)

Operating Earnings($ in millions)• Material Handling

– International and military sales were strong

– Earnings gain despite raw material cost increase

– Successful pricing initiatives alleviate cost increases

– Bookings up sequentially & YOY• Mobile Equipment

– Revenue growth from continued strength in domestic oilfield, military and solid waste markets and Rotary Lift acquisition

– Earnings decline due to one-time gain from property sale recorded in prior year ($5.3M); earnings growth of 8% without prior year gain

– Backlog up over PY; down sequentially

↑ 4%

↑ 6% ↓ 1%

↑ 2%

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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

• Product Identification– Revenue increase driven by

double-digit gains in direct coding business

– Earnings reflect cost efficiency benefits from MARKEM•Imaje integration, net of $2 million related expense

– Bookings & backlog remains strong

• Engineered Products– Revenue increases in all

businesses except beverage can equipment

– Earnings impacted by business mix

– Refrigeration business continues to diversify customer base

– Bookings moderated from strong PY levels

Revenue($ in millions)

Earnings($ in millions)

$539

↑ 6% ↑ 3%

↑ 6% ↑ 10%

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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 ManagementRevenue($ in millions)

Operating Earnings($ in millions)• Energy

– Results driven by continued growth in global oil and gas drilling and worldwide demand for power generation

– Operational improvements and product mix increased earnings

– Bookings & backlog remain strong

• Fluid Solutions– General strength across most

industrial markets – Business mix and operational

focus improved earnings and margins

– Backlog up 28%.↑23% ↑34%

↑17% ↑24%

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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 TechnologiesRevenue($ in millions)

Operating Earnings($ in millions)• Electronic Technologies

– Good business activity in the quarter across the segment with a positive book-to-bill and organic growth of 5.2%

– MEMS microphones now being sold to all Tier-1 handset manufacturers

– Military programs continue to be growth drivers of ceramic and microwave product lines

– Impact of first quarter restructuring (ECT) is showing improvements in the results

– Inflationary pressures in Asia (principally China) from currency and other costs impacted margins by 1%

– Bookings & backlog are up sequentially and YOY

↑12%↑13%

↑11% ↑6%

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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

* Dover has improved inventory turns four consecutive years

Target Q2 2008 Q2 2007

Inventory Turns * 8 6.9 6.5

Earnings Growth 10% 7% 11.5%

Operating Margins 15% 15.8% 15.6%

WC as a % of Revenue 20% 18.5% 19.2%

ROI (Operating) 25% 26.1% 25.8%

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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– 2009 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 completed 8/2008 (10.8 million shares)• Reduced share count by 10% in a twelve month period

Long history of increasing dividend each year– Increased 25% in 2008 ($1.00 per share on annualized basis)– Long-term payout target of 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– Components Group

Emphasis on Tangible Value Creation

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Second Quarter and YTD OverviewNet Debt to Capital Ratio

– 28.8%: up 15 bps over 2007 year-end, reflective of higher total debt level to fund share repurchase program

Free Cash Flow– QTR: $192.5 million; 9.6% of revenue– YTD: $300.9 million; 7.8% of revenue

Effective Tax Rate– QTR: 29.3%, up 220 bps– YTD: 29.4%, up 170 bps

Prior year periods benefited from tax positions that were effectively settled.

Acquisitions– Two add-ons in the quarter: Brady Mining & Construction Supply Co. (US Synthetic) for $12

million, net of cash acquired and Neptune Chemical Pump Company (Pump Solutions Group) for $65 million, net of cash acquired.

Share Repurchase Program – QTR: Repurchased 4 million shares for $198 million.– Completed (August): Repurchased 10 million shares for $461 million

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2008 Outlook – Full Year

Organic growth: mid single digitsMargin improvement: Full year up 25 – 50 bpsCapital expenditures: $150 – $175 millionInterest expense: $98 - $103 millionFull-year tax rate: 27% – 28% (quarterly variance)Free cash flow for full year: 10% of revenueCorporate expenses: $100 - $105 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