1

Dover CorporationThird Quarter 2006 Conference CallOctober 25, 20069:00 a.m. Eastern

2

Forward Looking StatementsWe want to remind everyone that our comments may contain certain forward-looking statements that are inherently subject to uncertainties. We caution everyone to be guided in their analysis of Dover Corporation by referring to our Form 10-K for a list of factors that could cause our results to differ from those anticipated in any such forward looking statements.We would also direct your attention to our internet site, www.dovercorporation.com, where considerably more information can be found.

3

Dover’s Q3 2006 PerformanceContinuing Earnings Per Share

2004 2005

0.000.050.100.150.200.250.300.350.400.450.500.550.600.650.700.750.80

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

2006

2006 Q3 Highlights

• Revenue and orders up at all 6 Segments

• Free cash flow was 14.6% of revenue

• YTD 2006 EPS is equal to full year 2005

+92%$240.4 millionFree Cash Flow

+20 bps14.5% Segment Margin

15.5%Operating Leverage

10.4%Organic Growth

+26%$0.76EPS

+21%$1.7 billion RevenueQ3 2005

$1.77

$2.17

$2.17

4

Results From Continuing OperationsQ3 2006 Q3 2005 % Change

Revenue $1,651.9 $1,364.6 21% EBT $206.3 $165.8 24% Earnings $156.3 $123.0 27%EPS $0.76 $0.60 26% Bookings $1,672.6 $1,372.5 22% Backlog $1,373.5 $1,038.8 32%

FAS 123(R) expense was $4.1 million, net of tax or $0.02 EPS in Q3 2006

($ in millions except per share figures)

5

Year-to-Date 2006 ResultsYTD 2006 YTD 2005 % Change

Revenue $4,813.6 $3,922.8 23% EBT $619.6 $443.7 40% Earnings $446.3 $324.1 38%EPS $2.17 $1.59 37% Bookings $5,012.4 $4,094.3 22%

FAS 123(R) expense was $13.2 million, net of tax or $0.064 EPS YTD 2006

($ in millions except per share figures)

6

Performance CountsTargets Q3 2006 Q3 2005

Inventory turns* 8 6.3 5.4 Earnings growth 10% 27% 28% Operating margin 15% 14.5% 14.3%Working capital as

% of revenue* 20% 19.3% 21.5%ROI (Operating)* 25% 21.1% 20.5%

* Trailing Twelve Months

Dover exceeded 2 out of 5 target metrics in the third quarter

7

Q3 2006 Revenue Growth

4.2%

28.5%

6.8% 9.9% 10.1% 10.8% 10.4%

0%

5%

10%

15%

20%

25%

30%

DDI DEL DII DRI DSI DTI DOVER

Organic Revenue Growth

Acq. Growth - 70.1% - 7.9% - 6.5% 9.4%FX Effect 1.9% 1.3% 0.5% 1.1% 0.3% 2.7% 1.3%Total Growth 6.1% 99.9% 7.3% 18.9% 10.4% 20.0% 21.1%

8

Revenue & Earnings Distribution by SegmentNine months ended September 30, 2006

Revenue Earnings

9

Diversified

Revenue growth driven by strong energy and heat exchanger markets. Flat earnings impacted by Industrial Equipment challenges.Industrial Equipment: Revenue +2%; Earnings -17%

Strong revenue in the commercial aerospace market, partially offset by a soft powersports market.Earnings fell 17% as margin declined on a shift in product mix, rising material costs and plant productivity initiatives.

Process Equipment: Revenue +15%; Earnings +19%Strong HVAC, Boiler, and energy markets fueled revenue growth.Earnings increase on additional revenue despite higher material costs.

12.5%11.7% Operating Margin

-$23.1$23.1 Earnings

6%$185.1$196.4Revenue

% ChangeQ3 2005Q3 2006($ in millions)

10

Electronics

Knowles and Colder acquisitions plus 29% organic growth drove impressive revenue and earnings increases. Components: Revenue +126%; Earnings +356%

Growth from acquisitions and core businesses with improved margins in frequency control, ceramic and microwave product businesses.Q3 order levels remained strong in the cell phone (MEMS), military and telecom markets.

Commercial Equipment: Revenue +33%; Earnings +10XATM business up compared to depressed prior year period due to Hurricane Katrina.

4.6%14.0% Operating Margin

507%$5.2$31.6 Earnings

100%$112.8$225.5Revenue

% ChangeQ3 2005Q3 2006($ in millions)

11

Industries

Revenue increases reflect continued strength in Mobile Equipmentand market share gains across a number of businesses. Productivity gains and reduced warranty expenditures drove operating leverage in Mobile Equipment.Mobile Equipment Group: Revenue +14%; Earnings +29%

Revenue growth from transport markets and market share gains in the Refuse business. Earnings improved for the seventh consecutive quarter as revenue gains and increased productivity offset a meaningful increase in material costs.

Service Equipment Group: Revenue - 4%; Earnings -14%. Continued weakness in the automotive repair and car wash markets accounted for the volume shortfall. Earnings were impacted by the volume shortfalls, offset in part by actions taken to lower SG & A costs.

13.7%14.2%Operating Margin

+11%$28.2$31.4Earnings+7%$206.3$221.4Revenue

% ChangeQ3 2005Q3 2006($ in millions)

12

Resources

All markets were strong with the exception of automotive and light construction. Oil & Gas along with Paladin accounted for most of the revenue growth.Oil & Gas Equipment Group: Revenue +37%; Earnings +58%

Activity remains robust although global energy prices have softened.Selective capacity additions continue at 3 companies in this market sector.

Fluid Solutions: Revenue +10%; Earnings +4%Revenue rise driven by strength in new markets and new products.Material price increases have impacted earnings and margins.

Material Handling: Revenue +13%; Earnings flatRevenue growth reflects softness in automotive and light construction offset by the addition of Paladin and strength in utility, mobile crane, and petroleum markets. Margins impacted by automotive market weakness.

16.7%16.5%Operating Margin

18%$65.1$76.6Earnings19%$390.2$463.9Revenue

% ChangeQ3 2005Q3 2006($ in millions)

13

Systems

Revenue was strong at both the Food Equipment and Packaging Equipment Groups. Margin decline at Food Equipment due to risingcommodity costs, customer delays and capacity challenges. Food Equipment: Revenue + 8%; Earnings -24%

Revenue increase driven by both supermarket and food service equipment. Material cost increases were significant factor in reduced margins along with customer delays and capacity challenges.

Packaging Equipment: Revenue +20%; Earnings +34% Strong leverage on increased sales in can necking and trimming equipment.

14.8%11.5% Operating Margin

-15%$29.2$24.9 Earnings10%$197.1$217.5 Revenue

% ChangeQ3 2005Q3 2006($ in millions)

14

Technologies

Revenue and earnings growth driven by acquisitions, semiconductor market and overall product ID growth.Automation & Measurement: Revenue +18%; Earnings +19%

Consumables grew as a percentage of revenue with improved margins.Sales, earnings and bookings have decreased sequentially, reflecting softer overall semiconductor and circuit board markets.

Product Identification: Revenue + 22%; Earnings +30%Acquisitions from the last two years are performing well and provided over half the revenue growth.Core businesses continue to grow, particularly in North American, Latin American and Asian markets.

16.2%15.8%Operating Margin

17%$44.6$52.3Earnings

20%$275.6$330.8 Revenue

% ChangeQ3 2005Q3 2006($ in millions)

15

Third Quarter 2006 OverviewRevenue Growth

Organic Growth 10.4% Acquisitions 9.4%Currency Translation 1.3%Total 21.1%

Free Cash Flow (defined as Cash from operations less Capex)Strong quarter and year-to-date at 14.6% and 9.5% of revenue, respectively.Full year expectations: greater than 10% of revenue.YTD Capital Expenditures: $137.6 million - up 56% over prior year.

Acquisitions Acquired Paladin Brands (DRI) in August.Markem acquisition (DTI) to close during the fourth quarter.

Net Debt to Capital RatioCurrently 24.1%, down from YE 2005 of 28.9%.

Effective Tax Rate (ETR)Third quarter : 24.2%, down from 25.8% in the prior year.Full year rate expected to remain in the range of 28 - 30%.Discrete $7.8 million benefit in Q3 2006 and $12.2 million net benefit in Q3 2005.

16

Improving Free Cash Flow

$0

$50

$100

$150

$200

$250

Fee

Cas

h Fl

ow (i

n m

illio

ns)

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

Free Cash Flow as a % of Revenue

2005 2006

0.9%

5.1%

7.6%

8.4%9.2%

14.6%

13.5%