LUFKIN, Texas, July 3 --

Lufkin Industries, Inc. (Nasdaq: LUFK) today announced that it plans to release its second quarter 2003 financial results before opening of trading on Wednesday, July 16, 2003. The same morning at 9:00 a.m. (central time) the Company will hold a conference call to discuss its second quarter 2003 results. To listen to the call, participants should dial (913) 981-5507 approximately 10 minutes prior to the start of the call. A telephonic replay will be available from 11:00 a.m. (central time) July 16, 2003, through 7:00 p.m. (central time) July 23, 2003, by dialing (719) 457-0820 and entering reservation number 624761.

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