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May 5, 7:30 am Eastern Time Company Press Release Lufkin Industries Shareholder Rights Plan Will Expire and Not Be RenewedLUFKIN, Texas, May 5, 2006-- Lufkin Industries, Inc. (Nasdaq: LUFK) today announced that on May 3, 2006, the Board of Directors discussed and decided not to renew its shareholder rights plan, commonly referred to as a "poison pill." The shareholder rights plan and the related common stock purchase rights issued pursuant to the plan will expire by the terms of the plan at the close of business on May 31, 2006. Contact: Lufkin Industries Inc.,
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