Bluffton, Indiana – June 20, 2011 - Franklin Electric Co., Inc. (NASDAQ:FELE) has approved a plan to close its Tulsa Avenue, Oklahoma City, Oklahoma manufacturing facility. As part of this action, the Company will transfer approximately 260,000 annual man hours of manufacturing activity primarily to the Linares, Mexico facility with a small portion of the transfer going to another Oklahoma City based facility. The transfers should be completed by the end of the first quarter 2012.

The Company also expects to incur additional charges for the write-down of assets at its Siloam Springs, Arkansas facility; the closure of which has been previously announced. Additionally, the Company intends to complete other miscellaneous realignments and movements of manufacturing and distribution facilities in a variety of international locations, including the relocation to a new manufacturing facility in Joinville, Brazil.

The Company has estimated the pretax charge for these actions to be between $2.6 million and $5.2 million, of which $1.2 million to $3.5 million is for the Tulsa Avenue facility. The charges will begin in the second quarter of 2011 and end in the fourth quarter of 2012 and include severance expenses, pension curtailments, asset write-offs, and equipment relocation costs. Approximately fifty to sixty percent of these charges will be non-cash.

Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and automotive fuels. Recognized as a technical leader in its specialties, Franklin Electric serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications. 


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"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Any forward looking statements contained herein involve risks and uncertainties, including but not limited to, general economic and currency conditions, various conditions specific to the Company's business and industry, market demand, competitive factors, supply constraints, technology factors, government and regulatory actions, the Company's accounting policies, future trends, and other risks which are detailed in the Company's Securities and Exchange Commission filings. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. We do not assume any obligation to update any forward-looking information. While we may elect to update the forward-looking statements at some point in the future, we specifically disclaim any obligation to do so.

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