LUFKIN, Texas, Jan. 29 --

Lufkin Industries, Inc. (Nasdaq: LUFK) today announced that it plans to release its 2003 fourth quarter and year-end financial results before opening of trading on Thursday, February 12, 2004. The same morning at 9:00 a.m. (central time), the Company will hold a conference call to discuss its 2003 fourth quarter and year-end results. To listen to the call, participants should dial (913) 981-5542 approximately 10 minutes prior to the start of the call. A telephonic replay will be available from 11:00 a.m. (central time) February 12, 2004, through 7:00 p.m. (central time) February 19, 2004, by dialing (719) 457-0820 and entering reservation number 533365. Lufkin Industries, Inc. sells and services power transmission products, oil field pumping units, 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