CAM Cameron International Corp.

Cooper Cameron Corporation Acquires Petreco International HOUSTON, March 1 /PRNewswire-FirstCall/ -- Cooper Cameron Corporation has closed on the previously announced acquisition of Petreco International, a Houston-based supplier of oil and gas separation products, for approximately $90 million, net of cash acquired and debt assumed. Petreco provides highly engineered, custom processing products to the oil and gas industry worldwide. Petreco's 2003 revenues were approximately $117 million and they generated approximately $12.0 million of income before taxes. Cooper Cameron Chairman, President and Chief Executive Officer Sheldon R. Erikson said, "Petreco's product offerings and services complement our existing businesses, and we expect them to be immediately additive to our financial results." Erikson said he expects Petreco will add approximately $0.11 to $0.13 to Cooper Cameron's earnings per share over the remainder of 2004. Erikson said the transaction was financed with cash on hand, and had little impact on Cooper Cameron's overall financial condition. Cooper Cameron Corporation is a leading international manufacturer of oil and gas pressure control equipment, including valves, wellheads, controls, chokes, blowout preventers and assembled systems for oil and gas drilling, production and transmission used in onshore, offshore and subsea applications. Cooper Cameron is also a leading manufacturer of centrifugal air compressors, integral and separable gas compressors and turbochargers. Website: http://www.coopercameron.com/ In addition to the historical data contained herein, this document includes forward-looking statements regarding the impact of an acquisition on the future profitability of the Company, made in reliance uponthe safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company's actual results may differ materially from those described in forward-looking statements. Such statements are based on current expectations of the Company's performance and are subject to a variety of factors, not under the control of the Company, which can affect the Company's results of operations, liquidity or financial condition. Such factors may include overall demand for the Company's products; changes in the price of (and demand for) oil and gas in both domestic and international markets; political and social issues affecting the countries in which the Company does business; fluctuations in currency markets worldwide; variations in global economic activity; and changes in the financial markets. In particular, current and projected oil and gas prices directly affect customers' spending levels and their related purchases of the Company's products and services. Changes in oil and gas price expectations may also lead to changes in the Company's cost structure, staffing or spending levels. Because the information herein is based solely on data currently available, it is subject to change as a result of changes in conditions over which the Company has no control or influence, and should not therefore be viewed as assurance regarding the Company's future performance. Additionally, the Company is not obligated to make public indication of such changes unless required under applicable securities laws and regulations. http://www.newscom.com/cgi-bin/prnh/20010706/CAMLOGO http://photoarchive.ap.org/ DATASOURCE: Cooper Cameron Corporation CONTACT: R. Scott Amann, Vice President, Investor Relations of Cooper Cameron Corporation, +1-713-513-3344 Web site: http://www.coopercameron.com/

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