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National Oilwell Varco and Robbins & Myers Receive Clearance

  National Oilwell Varco and Robbins & Myers Receive Clearance

Business Wire

HOUSTON -- February 19, 2013

National Oilwell Varco, Inc. (NYSE: NOV) and Robbins & Myers, Inc. (NYSE: RBN)
jointly announced today that the Antitrust Division of the United States
Department of Justice has closed its investigation of the parties’ previously
announced merger. NOV and RBN also received today a no action letter from the
Canadian Competition Bureau. Having received clearance from the United States
and Canada, NOV and RBN expect to complete the merger tomorrow, February 20,
2013. The transaction has been cleared without modification.

About National Oilwell Varco, Inc.

National Oilwell Varco, Inc. is a worldwide leader in the design, manufacture
and sale of equipment and components used in oil and gas drilling and
production operations, the provision of oilfield services, and supply chain
integration services to the upstream oil and gas industry.

About Robbins & Myers, Inc.

Robbins & Myers, Inc. is a leading supplier of engineered,
application-critical equipment and systems in global energy, chemical and
other industrial markets.

Forward-Looking Statements

Statements set forth in this press release that are not historical facts are
forward-looking statements within the meaning of the federal securities laws.
These forward-looking statements are subject to numerous risks and
uncertainties, many of which are beyond the control of National Oilwell Varco,
Inc. and Robbins & Myers, Inc., which could cause actual benefits, results,
effects and timing to differ materially from the results predicted or implied
by the statements. Readers are referred to documents filed with the Securities
and Exchange Commission, including National Oilwell Varco’s and Robbins &
Myers' Annual Reports on Form 10-K for the year ended December 31, 2012 and
August 31, 2012, respectively, Robbins & Myers’ recent Quarterly Report on
Form 10-Q, the Current Reports on Form 8-K filed by both companies, and
Robbins & Myers’ final proxy statement filed with the SEC on November 30, 2012
in connection with the transaction, which identify significant risk factors
and uncertainties which could cause actual results to differ from those
contained in forward-looking statements. Neither National Oilwell Varco nor
Robbins & Myers undertakes any obligation to revise or update publicly any
forward-looking statements for any reason.

Contact:

National Oilwell Varco, Inc.
Jeremy Thigpen, 713-346-7301
jeremy.thigpen@nov.com