Crane Co. Announces Pricing of $350 Million of Senior Notes

STAMFORD, Conn.–(BUSINESS WIRE)–Crane Co. (NYSE:CR), a diversified manufacturer of highly engineered
industrial products (the "Company"), announced today the pricing of an
underwritten public offering of $350 million of 4.20% Senior Notes due
2048.

The Company intends to use the net proceeds from the offering, together
with cash on hand, to repay all of the $100 million outstanding under
its 364-Day Credit Agreement and to redeem all $250 million of its
outstanding 2.75% notes due 2018 and pay related premiums.

Wells Fargo Securities, LLC and J.P. Morgan Securities LLC are acting as
joint book-running managers for the offering.

The offering may be made only by means of a prospectus supplement and
accompanying base prospectus. A copy of the prospectus supplement and
the accompanying base prospectus relating to the offering will be filed
with the Securities and Exchange Commission and, when available, can be
obtained by contacting: Wells Fargo Securities, LLC at 1-(800) 645-3751; [email protected]
or J.P. Morgan Securities LLC collect at 1-(212) 834-4533.

This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities, nor shall there be any
sale of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.

About Crane Co.

Crane Co. is a diversified manufacturer of highly engineered industrial
products. Founded in 1855, Crane provides products and solutions to
customers in the hydrocarbon processing, petrochemical, chemical, power
generation, unattended payment, banknote design and production,
automated merchandising, aerospace, electronics, transportation and
other markets. The Company has four business segments: Fluid Handling,
Payment & Merchandising Technologies, Aerospace & Electronics and
Engineered Materials. Crane has approximately 12,000 employees in the
Americas, Europe, the Middle East, Asia and Australia. Crane Co. is
traded on the New York Stock Exchange (NYSE:CR).

Forward-Looking Statements

This press release may contain forward-looking statements as defined by
the Private Securities Litigation Reform Act of 1995, including with
regard to the expected consummation of the offering and the anticipated
use of proceeds from the offering. These statements present management's
expectations, beliefs, plans and objectives regarding future financial
performance, and assumptions or judgments concerning such performance.
Any discussions contained in this press release, except to the extent
that they contain historical facts, are forward-looking and accordingly
involve estimates, assumptions, judgments and uncertainties. There are a
number of factors that could cause actual results or outcomes to differ
materially from those addressed in the forward-looking statements. Such
factors are detailed in the Company's Annual Report on Form 10-K for the
fiscal year ended December 31, 2016 and subsequent reports filed with
the Securities and Exchange Commission.

Contacts

Crane Co.
Jason D. Feldman, 203-363-7329
Director, Investor
Relations