1. JP MORGAN BASICS & INDUSTRIAL CONFERENCE
ROBERT KUHBACH / PAUL GOLDBERG
NEW YORK, NY – JUNE 3, 2008

2. 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.
2

3. ...
. . . 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 growth
initiatives, annually increased dividends and strategic share
repurchases.
3

4. Record Financial Results
Four Segment Structure Improves Clarity
Platforms For Sustained Growth
Strategic Capital Allocation
Outlook for 2008
4

5. Sustainable Growth Story
($000)
Revenue Earnings from Continuing Operations
8,000 800
7,000 700
6,000 600
5,000 500
Revenue
Earnings
4,000 400
3,000 300
2,000 200
1,000 100
0 0
2003 2004 2005 2006 2007
5-yr CAGR 17.9% 5-yr CAGR 25.3%
5

6. Balanced Growth
Sales ($000)
8,000
Currency
7,000 Acquisition
6,000 Organic
45%
Base
5,000
50%
4,000
3,000 2007 Growth
Currency 2.2%
2,000
Acquisition 9.7%
1,000 Organic 2.3%
Core Industrial 5.2%
0
2003 2006 2007
Organic Growth Rate: Target 5-7%... 5 yr. Average 8.9%
6

7. Geographic Revenue Mix (Q1 2008)
Dover Growth Rate: 8%
Rest Of World
10.5%
6.5%
25.5%
ASIA
12.6%
United States
55.4%
Europe
21.5%
5.5%
6.1%
First Quarter
Growth Rate
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8. Strong Free Cash Flow
Free Cash Flow as a % of Revenue
Source of Dover strength 12%
– Consistency
10%
– Outcome of metrics focus
– $728 million in 2007 8%
– 111% conversion rate in
6%
2007 (FCF / earnings from
continuing ops)
4%
Facilitates strategic
2%
capital allocation
0%
2004 2005 2006 2007
8

9. New Segment Structure
Earnings
Sales
ELECTRONIC ELECTRONIC
INDUSTRIAL INDUSTRIAL
Technologies Technologies
Products Products
19% 17%
30% 28%
FLUID
FLUID
Management
Management
21%
ENGINEERED
29%
ENGINEERED
Systems
Systems
26%
30%
2007
9

10. New Platform Structure
Mobile
Electronic
Equipment
Technologies
17%
19%
Material
Fluid
Handling
Solutions
13%
10%
Energy
Engineered
11%
Products
Product ID 17%
13%
2007
Revenue
10

11. Dover’s Q1 2008 Performance Q/Q
Q1 ‘08 Q1 ‘07
Revenue $1.9B $1.7B +8%
Continuing Earnings Per Share EPS $0.76 $0.65 +16%
0.90
Segment Margins 14.1% 13.5% 60 bps
0.85
0.80 Organic Growth 2.8% 4.0%
0.75
Acquisition Growth 1.8% 12.8%
0.70
0.65 Free Cash Flow $104M $18M 5.8x
0.60
$3.22
0.55
• Business activity remains strong across the
0.50
$2.88 portfolio
0.45
0.40
•Book-to-bill was 1.06
$2.12
0.35
0.30 • Organic growth of industrial companies was 3.2%
0.25
• Energy, Fluid Solutions and Product ID platforms
0.20
performing at a high level
0.15
0.10
• Positive leverage at 3 of 4 segments
0.05
0.00 • Strong free cash flow at 5.6% of revenue
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2005 2006 2007 ‘08 • Share repurchase activities on target
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12. Revenue Growth (Q1 2008)
Industrial Engineered Fluid Electronic Total
Products Systems Management Technologies Dover
Organic 1.1% 2.4% 7.7% 1.0% 2.8%
Acquisition 3.6% 0.0% 1.5% 2.0% 1.9%
Currency 1.2% 3.8% 2.6% 6.5% 3.2%
Total 5.9% 6.2% 11.8% 9.5% 7.9%
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13. Industrial Products Revenue Operating Earnings
($ in millions) ($ in millions)
Mobile Equipment
$583
(14% of Dover)
$551
– Revenues increase due to strong oil
field, aerospace and military sales $76
– Earnings driven by volume and cost
reductions
– Backlogs up 15% vs. prior year, Book- $70
to-bill of 1.09
Material Handling ↑ 6% ↑ 8%
(18% of Dover)
– IMC acquisition by De-Sta-Co – sales
integration complete
– Lantec acquired by Tulsa Winch in
March 2008 – integration begun
– Business is mixed, strong international,
infrastructure and military sales; U.S.
automotive and construction remains
challenged
Q1 2007 Q1 2008
Q1 2007 Q1 2008
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14. Industrial Products
Winch companies will continue to grow
– Military contracts
– Oilfield demand
Continued challenges in heavy construction
– Performance enhancing initiatives underway
– No market improvement expected
Waste handling will be strong
– Solid backlog
– Class eight chassis delivery improves
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15. Engineered SystemsRevenue
Operating Earnings
($ in millions)
($ in millions)
Engineered Products
$522
(16% of Dover)
$492
– Strong performance in
refrigeration systems & cases,
$64
heat exchangers
– Tough comps in beverage can
equipment
↑ 6%
Product Identification
$51
(12% of Dover)
↑ 25%
– Revenue increase driven by
double-digit gains in direct
marking business
– Earnings reflect cost savings
realized from Markem•Imaje
integration activities, off-setting
$3M in related expense
– Strong order backlog entering
second quarter.
Q1 2007 Q1 2008
Q1 2007 Q1 2008
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16. Engineered Systems
Significant improvements in Product ID
– Markem margins up 700 bps
– > 50% of revenue tied to fast moving consumer goods
– Recurring revenue > 50%
Food display equipment fundamentals are sound
– Growth will be driven by “sustainability” factors
– Well-developed plan to diversify customer base
Heat exchanger business will continue to expand
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17. Fluid Management
Revenue Operating Earnings
Energy
($ in millions) ($ in millions)
(11% of Dover)
– Results driven by growth in
U.S. oil and gas drilling and $401
worldwide demand for power
$85
$359
generation
– Operational improvements $74
and product mix increased
earnings and margins
↑ 12% ↑ 15%
Fluid Solutions
(10% of Dover)
– General strength across most
industrial markets
– Backlog up 30%.
– Business mix and operational
focus improved earnings and
margins
Q1 2007 Q1 2008
Q1 2007 Q1 2008
`
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18. Fluid Management
Continued strength in energy
– Broad product engagement in downhole
drilling, production and logging equipment
– Positive power generation trends
– Focus on globalizing revenue base
Pump and dispensing businesses remain consistent
– Global footprint
– Expanded product offerings
– Chemical, pharmaceutical and wastewater
processing capex budgets drive business
– Regulatory environment provides opportunity
– Consistent sustainable performance
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19. Electronic Technologies
Operating Earnings
Revenue
($ in millions)
($ in millions)
Electronics Technology $352
$37 $36
19% of Dover $321
– Business activity is mixed across
the segment with book-to-bill of
1.02
– Continued investments in new
products
↑ 10%
– $3M restructuring charges in the
quarter (primarily severance)
↓ 2%
– 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
Q1 2007 Q1 2008
Q1 2007 Q1 2008
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20. Electronic Technologies
Cell 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 markets
Revenues 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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21. PERFORMANCECOUNTS
Target Q1 2008 Q1 2007
Inventory Turns * 8 6.6 6.4
Earnings Growth 10% 8.8% 5.0%
Operating Margins 15% 14.1% 13.5%
WC as a % of Revenue 20% 19.1% 19.2%
ROI (Operating) 25% 25.8% 25.9%
* Dover has improved inventory turns four
consecutive years
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22. Value Creation Continues
2005 - 2007 Going Forward
New Management Team Four Segment Structure
Portfolio Transformation Platform Development
PERFORMANCECOUNTS PERFORMANCECOUNTS
Refocus Acquisitions Capturing SYNERGY
Recurring Revenue Theme Minimize Volatility
Globalization Management Development
Capital Allocation Focus Strategic Capital Allocation
Best Financial Results in Continue Improvement in
Dover’s History Financial Performance
22

23. Strategic Capital Allocation
Acquisitions
– 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
23

24. Seeking Synergy
Overhead cost structure
Expanding role of Supply
Chain Council
Shared facilities
4% - 6%
Business system Earnings
consolidations
Improvement
Examples:
– Energy Platform
– Product ID
– Pump Group
– Others
Emphasis on Tangible Value Creation
24

25. First Quarter 2008 Overview
Net 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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26. Recent Fluid Management Road Trip
17 buy-side and sell-side analysts visited US Synthetics (Orem, UT)
& Wilden Pumps (Grand Terrace, CA) in early May.
Full Fluid Management overview
Emergent 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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27. 2008 Outlook – Full Year
Organic growth: mid single digits
Margin improvement: Full year up 50 – 75 bps
Capital expenditures: $150 – $175 million
Interest expense: $88 - $92 million
Full-year tax rate: 27% – 28% (quarterly variance)
Free cash flow for full year: 10% of revenue
Corporate expenses: $95 - $100 million
Share repurchases remaining: <$200 million
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28. … A Solid Growth Story with Record Financial Results
Metrics are Driving Improved Results
… New Organization Structure Driving Change
Growth Platforms Emerging, Operating Style Evolving,
Clarity is Improving, Focus on Synergy
… Strategic Capital Allocation Discipline
Balancing Growth and Shareholder Return
… Time Honored Value System Intact
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