Pentair Announces Dividend Recommendation

                  Pentair Announces Dividend Recommendation

PR Newswire

SCHAFFHAUSEN, Switzerland, Feb. 26, 2013

SCHAFFHAUSEN, Switzerland, Feb. 26, 2013 /PRNewswire/ -- Pentair Ltd. (NYSE:
PNR) today announced that its Board of Directors recommended that Pentair
shareholders approve at the 2013 annual general meeting of shareholders a
proposal to pay quarterly cash dividends through the second quarter of 2014.
The proposal provides that dividends of $1.00 per share will be made out of
Pentair's capital contribution reserve to shareholders in quarterly
installments of $0.25 per share for each of the third and fourth quarters of
2013 and the first and second quarters of 2014.

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Pentair paid dividends of $0.88 per share in 2012 and had previously announced
on September 28, 2012 that it would pay dividends of $0.23 per share out of
its capital contribution reserve for each of the first and second quarters of
2013 that had been authorized by Pentair's former sole shareholder on
September 14, 2012. If the dividend proposal is approved by the shareholders
at the 2013 annual general meeting of shareholders, which is scheduled to be
held on April 29, 2013, the 2013 dividend increase will mark the 37^th
consecutive year in which Pentair has increased its dividend.

Caution Concerning Forward-Looking Statements
This press release contains statements that Pentair believes to be
"forward-looking statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. All statements other than statements of
historical fact, including, without limitation, statements regarding the
anticipated benefits of the merger or Pentair's anticipated financial results,
are forward-looking statements. Without limitation, any statements preceded or
followed by or that include the words "targets", "plans", "believes",
"expects", "intends", "will", "likely", "may", "anticipates", "estimates",
"projects", "should", "would", "expect", "positioned", "strategy", "future",
"outlook", guidance" or words, phrases or terms of similar substance or the
negative thereof, are forward-looking statements. These forward-looking
statements are not guarantees of future performance and are subject to risks,
uncertainties, assumptions and other factors, some of which are beyond
Pentair's control, which could cause actual results to differ materially from
those expressed or implied by such forward-looking statements. These factors
include the ability to successfully integrate Pentair and the flow control
business and achieve expected benefits from the merger; overall global
economic and business conditions; competition and pricing pressures in the
markets Pentair serves; the strength of housing and related markets;
volatility in currency exchange rates and commodity prices; inability to
generate savings from excellence in operations initiatives consisting of lean
enterprise, supply management and cash flow practices; increased risks
associated with operating foreign businesses; the ability to deliver backlog
and win future project work; failure of market to accept new product
introductions and enhancements; the impact of changes in laws and regulations,
including those that limit U.S. tax benefits; the outcome of litigation and
governmental proceedings; and the ability to achieve Pentair's long-term
strategic operating goals. Additional information concerning these and other
factors is contained in Pentair's filings with the U.S. Securities and
Exchange Commission ("SEC"), including in Pentair's Annual Report on Form 10-K
for the year ended December 31, 2012. All forward-looking statements speak
only as of the date of this press release. Pentair assumes no obligation, and
disclaims any obligation, to update the information contained in this press
release.

Additional Information and Where to Find It
Pentair, its directors and certain of its executive officers and employees may
be deemed to be participants in the solicitation of proxies from shareholders
in connection with Pentair's 2013 Annual General Meeting of Shareholders (the
"2013 Annual Meeting"). On February 26, 2013, Pentair filed a preliminary
proxy statement with the SEC in connection with the solicitation of proxies
for the 2013 Annual Meeting. Prior to the 2013 Annual Meeting, Pentair will
furnish a definitive proxy statement to its shareholders (the "2013 Proxy
Statement"). SHAREHOLDERS ARE URGED TO READ THE 2013 PROXY STATEMENT
(INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT
DOCUMENTS THAT PENTAIR WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Additional information
regarding the identity of these potential participants and their direct or
indirect interests, by security holdings or otherwise, is set forth in the
preliminary proxy statement for the 2013 Annual Meeting and will be set forth
in the 2013 Proxy Statement and other materials to be filed with the SEC in
connection with the 2013 Annual Meeting. Shareholders will be able to obtain,
free of charge, copies of the 2013 Proxy Statement and any other documents
filed by Pentair with the SEC in connection with the 2013 Annual Meeting at
the SEC's website (http://www.sec.gov), at Pentair's website
(http://www.pentair.com) or by writing to Pentair Ltd., Freier Platz 10,
CH-8200, Schaffhausen, Switzerland, Attention: Corporate Secretary.

About Pentair Ltd.
Pentair (www.pentair.com) delivers industry-leading products, services and
solutions for its customers' diverse needs in water and other fluids, thermal
management and equipment protection. With pro forma revenues of approximately
$8 billion, Pentair employs more than 30,000 people worldwide.

Pentair Contacts:
Jim Lucas
Vice President, Investor Relations
Tel.: 763-656-5575
E-mail: jim.lucas@pentair.com

Betsy Day
Manager, Corporate Communications
Tel.: 763-656-5537
Email: betsy.day@pentair.com

SOURCE Pentair Ltd.

Website: http://www.pentair.com