Exhibit 99.2

CRANE CO.

Income Statement Data

(in thousands, except per share data)

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2003			2002			2003			2002
Net Sales:
Aerospace & Electronics	$	104,073		$	86,185		$	191,447		$	171,641
Engineered Materials		58,278			60,093			121,164			114,338
Merchandising Systems		39,869			41,222			77,475			84,198
Fluid Handling		187,812			187,350			361,280			360,377
Controls		16,015			16,784			31,225			32,641
Intersegment Elimination		(74	)		(21	)		(148	)		(37	)
Total Net Sales	$	405,973		$	391,613		$	782,443		$	763,158
Operating Profit:
Aerospace & Electronics	$	23,278		$	20,418		$	40,149		$	36,024
Engineered Materials		11,674			12,322			24,638			22,958
Merchandising Systems		1,322			2,030			(796	)		6,407
Fluid Handling		13,697			13,737			21,122			26,098
Controls		986			1,248			1,383			2,043
Corporate		(8,046	)		(6,456	)		(15,406	)		(13,417	)
Total Operating Profit		42,911			43,299			71,090			80,113
Interest Income		309			158			498			608
Interest Expense		(4,141	)		(4,153	)		(8,084	)		(8,644	)
Miscellaneous—Net		(833	)		360			(998	)		(1,372	)
Income Before Income Taxes		38,246			39,664			62,506			70,705
Provision for Income Taxes		12,239			13,101			20,002			23,344
Income Before Cumulative Effect of a Change in Accounting Principle		26,007			26,563			42,504			47,361
Cumulative Effect of a Change in Accounting Principle		—			—			—			(28,076	)
Net Income	$	26,007		$	26,563		$	42,504		$	19,285
Depreciation and Amortization	$	12,848		$	12,372		$	25,212		$	24,374
Per Diluted Share Data:
Income Before Cumulative Effect of a Change in Accounting Principle	$	0.44		$	0.44		$	0.72		$	0.79
Cumulative Effect of a Change in Accounting Principle		—						—			(0.47	)
Net Income	$	0.44		$	0.44		$	0.72		$	0.32
Average Diluted Shares Outstanding		59,394			60,371			59,437			60,270
Average Basic Shares Outstanding		59,287			59,808			59,349			59,791

CRANE CO.

Condensed Balance Sheets

(in thousands)

	June 30,		December 31,
	2003		2002
ASSETS
Current Assets
Cash and Cash Equivalents	$	32,058	$	36,589
Accounts Receivable		261,475		213,850
Inventories		246,323		214,689
Other Current Assets		52,591		44,349
Total Current Assets		592,447		509,477
Property, Plant and Equipment		308,733		273,248
Other Assets		236,731		220,615
Goodwill		511,565		410,356
Total Assets	$	1,649,476	$	1,413,696
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Current Maturities of Long-Term Debt	$	101,332	$	400
Loans Payable		24,119		48,153
Accounts Payable		113,720		91,072
Accrued Liabilities		146,144		125,859
Income Taxes		28,233		22,941
Total Current Liabilities		413,548		288,425
Long-Term Debt		266,374		205,318
Deferred Income Taxes		9,153		8,972
Postretirement, Pension and Other Liabilities		259,971		261,919
Common Shareholders’ Equity		700,430		649,062
Total Liabilities and Shareholders’ Equity	$	1,649,476	$	1,413,696

CRANE CO.

Condensed Statements of Cash Flows

(in thousands)

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2003			2002			2003			2002
Operating Activities:
Net income	$	26,007		$	26,563		$	42,504		$	19,285
Cumulative effect of a change in accounting principle		—						—			28,076
Income before accounting change		26,007			26,563			42,504			47,361
(Income) loss from joint venture		(1,164	)		(592	)		(1,535	)		51
Depreciation and amortization		12,848			12,372			25,212			24,374
Cash (used for) provided by operating working capital		(5,332	)		23,117			(9,730	)		16,950
Other		(1,585	)		(3,437	)		(2,873	)		(3,636	)
Total Provided from Operating Activities		30,774			58,023			53,578			85,100
Investing Activities:
Capital expenditures		(6,606	)		(5,898	)		(13,090	)		(12,377	)
Proceeds from disposition of capital assets		567			3,542			911			4,004
Payments for acquisitions, net		(168,818	)		(40,807	)		(168,818	)		(42,457	)
Proceeds from divestitures		400			—			1,600			—
Total Used for Investing Activities		(174,457	)		(43,163	)		(179,397	)		(50,830	)
Financing Activities:
Dividends paid		(5,929	)		(5,982	)		(11,874	)		(11,965	)
Settlement of treasury shares acquired on the open market		(343	)		—			(6,641	)		—
Stock options exercised—net of shares reacquired		187			249			547			987
Issuance (repayment) of debt, net		136,680			(1,833	)		137,712			(24,054	)
Total Provided from (Used for) Financing Activities		130,595			(7,566	)		119,744			(35,032	)
Effect of exchange rate on cash and cash equivalents		889			1,623			1,544			1,485
(Decrease) increase in cash and cash equivalents		(12,199	)		8,917			(4,531	)		723
Cash and cash equivalents at beginning of period		44,257			12,969			36,589			21,163
Cash and cash equivalents at end of period	$	32,058		$	21,886		$	32,058		$	21,886

CRANE CO.

Order Backlog

(in thousands)

	June 30,		March 31,		December 31,		June 30,
	2003		2003		2002		2002
Aerospace & Electronics	$	304,975	$	224,513	$	217,598	$	223,626
Engineered Materials		11,071		9,828		11,153		14,246
Merchandising Systems		11,827		10,543		12,932		16,864
Fluid Handling		140,657		138,134		130,195		140,556
Controls		13,481		14,736		13,784		17,659
Total Backlog	$	482,011	$	397,754	$	385,662	$	412,951

CRANE CO.

Non-GAAP Financial Measures

(in thousands)

	Three Months Ended						Six Months Ended
	June 30,						June 30,						Estimated
	2003			2002			2003			2002			2003
Free Cash Flow
Cash from Operating Activities	$	30,774		$	58,023		$	53,578		$	85,100		$	170,000
Less: Capital Expenditures		(6,606	)		(5,898	)		(13,090	)		(12,377	)		(26,000	)
Dividends		(5,929	)		(5,982	)		(11,874	)		(11,965	)		(24,000	)
Free Cash Flow	$	18,239		$	46,143		$	28,614		$	60,758		$	120,000

Free cash flow is considered a measure of cash generation and should be considered in addition to, but not as a substitute for, other measures of financial performance reported in accordance with generally accepted accounting principles and may be inconsistent with similar measures presented by other companies.

This measurement provides supplemental information to assist management and certain investors in analyzing Company performance.