Crane Co. Announces Second Quarter Dividend

STAMFORD, Conn., May 24, 2004 -- Crane Co. today announced its regular ten cent ($.10) dividend on common stock of the Company for the second quarter of 2004. The dividend is payable on June 11, 2004 to shareholders of record as of the close of business on June 3, 2004.

Crane is a diversified manufacturer of engineered industrial products.