Houston, Texas, July 24, 2008 -

Highlights:

• Energy Production Systems’ revenue up 31 percent with subsea sales up 35 percent
• Energy Production Systems’ operating profit up 50 percent
• Company anticipates spin-off of JBT Corporation will occur on July 31, 2008 after market close
• Company increases guidance for full-year 2008 diluted earnings per share from continuing operations, excluding JBT Corporation, by $0.20 to a range of $2.60 to $2.70

HOUSTON, July 24, 2008 – FMC Technologies, Inc. (NYSE:FTI) today reported second quarter 2008 revenue of $1.5 billion, up 27 percent over the second quarter of 2007.  Diluted earnings per share from continuing operations were $0.81, up 47 percent from $0.55 per diluted share in the prior-year quarter.

The diluted earnings per share of $0.81 for the second quarter included a $0.04 per share charge associated with the planned spin-off of JBT Corporation (JBT) and a $0.05 per share gain associated with the non-cash mark-to-market of foreign currency contracts.  JBT, which is comprised of the FoodTech and Airport Systems businesses, is planned to be spun-off to FTI shareholders on July 31, 2008 after market close.

In the quarter, inbound orders for the company totaled $1.4 billion, of which $1.2 billion was in Energy Systems.  Backlog was $5.0 billion, including $4.6 billion in Energy Systems.

Operating profit in Energy Systems was strong, up 50 percent in Energy Production Systems and up 23 percent in Energy Processing Systems from the second quarter of 2007.

“We are very pleased with our second quarter results and with the progression of the JBT spin-off,” said Peter D. Kinnear, President and Chief Executive Officer.  “We are increasing our full-year estimate of 2008 FTI diluted earnings per share, excluding JBT, by $0.20 to a range of $2.60 to $2.70.  Our new guidance projects year-over-year growth of approximately 36% over the 2007 pro forma diluted earnings of $1.95 per share excluding JBT.”

Energy Production Systems

Energy Production Systems’ second quarter revenue of $947.7 million increased 31 percent over the prior-year quarter due mainly to increased subsea systems sales.  Revenue for subsea systems was a record $779 million for the quarter, up 35 percent from the prior-year quarter.  Surface wellhead revenue was up over 20 percent from the prior-year quarter.

Energy Production Systems’ operating profit of $104.9 million increased 50 percent over the prior-year quarter.  The increase was mainly due to higher volume and operating margin in subsea systems.  Operating margin in the segment was 11.1 percent for the quarter.

Energy Production Systems’ inbound orders were $987.3 million for the second quarter including $794 million in subsea systems.  Backlog of $4.3 billion was up 60 percent from the prior-year quarter and included $3.9 billion in subsea backlog.

Energy Processing Systems

Energy Processing Systems’ second quarter revenue of $220.8 million was 20 percent higher than the prior-year quarter.  Each business in the segment recorded revenue improvements over the prior-year quarter mostly on higher volume of oil and gas infrastructure products.

Energy Processing Systems’ second quarter operating profit of $42.9 million was 23 percent higher than the prior-year quarter.  The improvement was due to the higher volume.

Energy Processing Systems’ inbound orders were $203.5 million for the second quarter.  Backlog was $367.2 million, up nine percent from the prior-year quarter.

FoodTech

FoodTech’s revenue of $159.9 million in the second quarter was up four percent from the prior-year quarter.  Operating profit of $15.9 million was up 27 percent from the prior-year quarter due to higher operating margins.  Inbound orders totaled $147.1 million in the quarter.  Backlog was $153.2 million, down 12 percent from the prior-year quarter.

Airport Systems

Airport Systems’ second quarter revenue of $117.1 million was up 37 percent compared to the second quarter of 2007 due to higher volume of ground support equipment.  Second quarter operating profit of $10.5 million was up 84 percent from the prior-year quarter due to the higher volume.  Inbound orders totaled $98.8 million in the quarter.  Backlog was $187.6 million, down 15 percent from the prior-year quarter.

JBT Corporation

JBT, which is comprised of FoodTech and Airport Systems, is planned to be spun-off to FTI shareholders on July 31, 2008 after market close.  JBT is expecting to hold its second quarter 2008 earnings conference call on August 12, 2008.  Current information and further details can be found at www.jbtcorporation.com.

Corporate Items

Corporate expense in the second quarter of 2008 was $9.9 million, $0.9 million above the prior-year quarter.

During the quarter, the company incurred $5.5 million in expenses, or $0.04 per share, associated with the efforts to spin-off its FoodTech and Airport Systems businesses.  Of the $5.5 million, $0.3 million was in corporate staff expense and $5.2 million was in other expense, net.

Other expense, net, of $6.0 million increased $2.1 million from the second quarter of 2007.  The company also incurred a non-cash, mark-to-market gain on foreign currency forward contracts of $11.2 million, or $0.05 per share, compared to a gain in the prior-year quarter of $5.2 million.  It is expected that the foreign currency forward contracts will be held to maturity and that the mark-to-market gains and losses will reverse over the life of the contracts netting to zero upon maturity.

The company ended the quarter with net debt of $48.2 million.  Net interest income was $0.1 million in the second quarter as compared to a $3.7 million net interest expense in the second quarter of 2007.

In the quarter, the company repurchased 1.2 million shares of common stock for $81 million.

Depreciation and amortization for the second quarter of 2008 was $24.0 million, up from $20.9 million in the prior-year quarter.

Capital expenditures during the second quarter of 2008 totaled $43.4 million, up from $41.4 million in the prior-year quarter due mainly to investment in subsea intervention assets.

The company recorded an income tax rate of 33.2 percent for continuing operations in the second quarter.  The higher than expected tax rate was due to country mix and the limited deductibility of spin-off expenses.

Summary and Outlook

FMC Technologies reported diluted earnings per share from continuing operations of $0.81, up 47 percent from the prior-year quarter.  This result included a $0.04 per share charge associated with JBT spin-off costs and a $0.05 per share gain associated with the non-cash mark-to-market of foreign currency contracts.  The spin-off of JBT is planned for July 31, 2008 after market close.

Energy Production Systems’ and Energy Processing Systems’ operating profits were up 50 percent and 23 percent, respectively, over the second quarter of 2007.  Total company backlog was $5.0 billion, including $4.6 billion in Energy Systems.

The company increased its estimate for its full year 2008 diluted earnings per share from continuing operations, excluding JBT, by $0.20 to a range of $2.60 to $2.70.  This guidance represents year-over-year growth of approximately 36% on a comparable basis. 

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FMC Technologies, Inc. (NYSE:FTI) is a leading global provider of technology solutions for the energy industry and other industrial markets. The Company designs, manufactures and services technologically sophisticated systems and products such as subsea production and processing systems, surface wellhead systems, high pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry. Named by FORTUNE Magazine as America's Most Admired Oil and Gas Equipment, Service Company in 2005, 2006 and 2008, FMC Technologies employs approximately 13,000 people and operates 33 manufacturing facilities in 19 countries. For more information visit www.fmctechnologies.com.

John Bean Technologies Corporation ("JBT") is a leading global technology solutions provider to high-value segments of the food processing and air transportation industries. The Company designs, manufactures, tests and services technologically sophisticated systems and products for customers through its JBT FoodTech and JBT AeroTech segments. For more information visit www.jbtcorporation.com.

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond the Company's ability to control. Forward-looking statements are qualified in their entirety by the cautionary language set forth in the Cautionary Note Regarding Forward-Looking Statements in Management's Discussion and Analysis of Financial Condition and Results of Operations in the Company's Annual Report on Form 10-K for the year ended December 31, 2006. The Company cautions shareholders and prospective investors that actual results may differ materially from those indicated by the forward-looking statements.

FMC Technologies, Inc. will conduct its second quarter 2008 conference call at 9:00 a.m. (Eastern Daylight Time) on Friday, July 25, 2008.  The event will be available at www.fmctechnologies.com.  It also will be available for replay after the event at the same website address.  In the event of a disruption of service or technical difficulty during the call, information will be posted at www.fmctechnologies.com/earnings.