Analyst Interview Excerpt GLOBAL INFRASTRUCTURE INDUSTRIALS – JOHN BALIOTTI – FTN MIDWEST SECURITIES CORP Full article published: 5/5/2008     For Subscribers Get this article online now! Order just this article TWST: Where do you focus your attention in the industrial equipment space? Mr. Baliotti: Historically, our attention has been focused on mid-cap multi- industry companies. We are expanding our coverage into more pure companies involved in global infrastructure for power and for water. TWST: Why the shift? Mr. Baliotti: I like the base of companies that we cover right now, but a couple of the companies, ITT Corporation (ITT) and Danaher (DHR), have exposure to water to different degrees and SPX Corporation (SPW) and AMETEK (AME) have exposure to power industries. Because of the work we do on those names, I like those end markets. I think they are going to be much steadier and have better growth over the next couple of years. I want to leverage the work that we are doing on those end markets to get a bit more scale out of that work. Tickers included in this excerpt: ITT, SPW, ROK, GWW, AME For more information call (212) 952 7433. The Wall Street Transcript does not endorse any of the comments made by interviewees, and does not make stock recommendations.

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