EXHIBIT 99.1



        IDEX CORPORATION ANNOUNCES SALE OF LUBRIQUIP DISPENSING BUSINESS

NORTHBROOK, IL, JULY 11 -- IDEX CORPORATION (NYSE: IEX) today announced the sale
of Lubriquip, Inc., its lubricant dispensing business, to Graco Inc. (NYSE:
GGG), as IDEX aligns its dispensing segment to focus on core strengths. Terms of
the transaction were not disclosed.

IDEX expects to report an after-tax gain on the sale of the business in the
third quarter of 2006 of approximately $16 to $17 million, or $0.29 to $0.31 per
diluted share, which will be partially offset by the discontinuation of the
ongoing earnings from the business in 2006. For informational purposes, full
year 2005 revenues and earnings per share for Lubriquip were approximately $30
million and $0.05 per share, respectively. IDEX will report the Lubriquip
business as a discontinued operation beginning with its second quarter earnings
release on July 20, 2006.

Lubriquip manufactures and markets centralized and automated oil and grease
lubrication systems, force-feed lubricators, metering devices, and related
electronic controls and accessories. Lubriquip has approximately 130 employees
with facilities in Warrensville Heights, Ohio, and Madison, Wisconsin.

ABOUT IDEX
IDEX Corporation is an applied solutions company specializing in fluid and
metering technologies, health and science technologies, dispensing equipment,
and fire, safety and other diversified products built to its customers' exacting
specifications. Its products are sold in niche markets 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".