LUFKIN, Texas, April 1 --

Lufkin Industries, Inc. (Nasdaq: LUFK) today announced that it plans to release its first quarter 2003 financial results before opening of trading on Wednesday, April 16, 2003. The same morning at 9:00 a.m. (central time) the Company will hold a conference call to discuss its first quarter 2003 results. To listen to the call, participants should dial (719) 457-2617 approximately 10 minutes prior to the start of the call. A telephonic replay will be available from 11:00 a.m. (central time) April 16, 2003, through 6:00 p.m. (central time) April 17, 2003, by dialing (719) 457-0820 and entering reservation number 465433.

Lufkin Industries, Inc. sells oil field pumping units, power transmission products, foundry castings, and highway trailers throughout the world. The Company has vertically integrated all vital technologies required to design, manufacture, and market its products.

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Contact:

Lufkin Industries Inc., Lufkin
R.D. Leslie, 936/637-5325