Donald N. Boyce to Retire as CEO 0f IDEX Corporation, to be Succeeded By Frank J. Hansen.

NORTHBROOK, Ill., Dec. 18 /PRNewswire/ -- IDEX Corporation (NYSE: IEX) today announced that Donald N. Boyce, Chairman and Chief Executive Officer, plans to retire as Chief Executive as of March 31, 1999, but will remain Chairman of the company's Board of Directors. Boyce, 60, has been the Chief Executive Officer of IDEX since its founding in 1988 and was previously Chief Executive of IDEX's predecessor, Houdaille Industries, Inc. He joined Houdaille in 1969 at the company's Strippit division in Akron, New York.

Frank J. Hansen, 57, currently President and Chief Operating Officer, will be named President and Chief Executive Officer as of April 1, 1999. The position of Chief Operating Officer will remain unfilled for the present time. Hansen joined IDEX's Viking Pump business unit in 1975 and held several management positions there prior to being named President of Viking Pump in 1989. He became an IDEX Vice President -- Group Executive in 1993, was named Senior Vice President -- Operations in 1994, and assumed the position of President and Chief Operating Officer in January, 1998.

IDEX Corporation is a manufacturer of proprietary pump products and engineered equipment with leading positions in niche markets. Its engineered products are sold to a wide range of industries throughout the world. IDEX shares are traded on the New York Stock Exchange and Chicago Stock Exchange under the symbol IEX.

Further information on IDEX Corporation can be found on the company's World Wide Website at www.idexcorp on the Internet.