-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Jk1dp49j5rJYFVv3lzu1UzrZco05nCN7BE+Hqf53Ldkme1jCqoRrQ8aq80+WkK3q
 R2iJsOz77W09uARYRUN+Bw==

<SEC-DOCUMENT>0000950152-06-005140.txt : 20060615
<SEC-HEADER>0000950152-06-005140.hdr.sgml : 20060615
<ACCEPTANCE-DATETIME>20060615172739
ACCESSION NUMBER:		0000950152-06-005140
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20060612
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20060615
DATE AS OF CHANGE:		20060615

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GRAHAM CORP
		CENTRAL INDEX KEY:			0000716314
		STANDARD INDUSTRIAL CLASSIFICATION:	GENERAL INDUSTRIAL MACHINERY & EQUIPMENT [3560]
		IRS NUMBER:				161194720
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08462
		FILM NUMBER:		06908162

	BUSINESS ADDRESS:	
		STREET 1:		20 FLORENCE AVE
		STREET 2:		POST OFFICE BOX 719
		CITY:			BATAVIA
		STATE:			NY
		ZIP:			14020
		BUSINESS PHONE:		5853432216

	MAIL ADDRESS:	
		STREET 1:		20 FLORENCE AVENUE
		STREET 2:		POST OFFICE BOX 719
		CITY:			BATAVIA
		STATE:			NY
		ZIP:			14021-0719
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>l20860ae8vk.htm
<DESCRIPTION>GRAHAM CORP.      8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>GRAHAM CORP.      8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Date of
Report (Date of earliest event reported): <U>June&nbsp;12, 2006</U></B>

</DIV>
<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B><FONT style="border-bottom: 1px solid #000000">Graham Corporation</FONT></B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of Registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>1-8462</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>16-1194720</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>20 Florence Avenue, Batavia, New York</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>14020</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Registrant&#146;s
telephone number, including area code: <B><U>(585)&nbsp;343-2216</U></B>

</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>N/A</B></DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 1pt; width: 100%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 10pt">(Former name or former address, if changed since last report)</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the Registrant under any of the following provisions:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;5.02.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Departure of Directors or Principal Officers; Election of
Directors; Appointment of Principal Officers.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On June&nbsp;12, 2006, William C. Johnson resigned from the position of President and Chief
Executive Officer of Graham Corporation (the &#147;Company&#148;). On such date, Mr.&nbsp;Johnson also informed
the Board of Directors that he would not seek an additional term as a Director following the
expiration of his current term at the 2006 Annual Meeting of Stockholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On June&nbsp;14, 2006, the Company&#146;s Board of Directors appointed James R. Lines as the Company&#146;s
President and Chief Operating Officer. Mr.&nbsp;Lines was also nominated for
election as a Director at the 2006 Annual Meeting of Stockholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.&nbsp;Lines, age 45, has been with the Company since 1984. Since December&nbsp;2004, Mr.&nbsp;Lines has
been the Company&#146;s Vice President and General Manager. Mr.&nbsp;Lines has also held the positions of
Vice President of Engineering and Vice President of Sales and Marketing. Prior to his senior
management positions, he was an application engineer, sales engineer and product supervisor. Mr.
Lines holds a Bachelor of Science degree in Aerospace Engineering from the University of Buffalo.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is a party to an employment agreement with Mr.&nbsp;Lines executed in December&nbsp;1993 and
amended in September&nbsp;1996. The employment agreement provides that Mr.&nbsp;Lines will receive a minimum
base salary and customary benefits. Mr.&nbsp;Lines is also eligible under such employment agreement to
receive discretionary bonuses. The employment agreement automatically renews such that it always
has a one-year term remaining, unless Mr.&nbsp;Lines or the Company elect not to extend the term
further, in which case the term will end on the first anniversary of the date on which notice of
such election not to extend is given. If not terminated sooner, the agreement will end on the last
day of the month in which Mr.&nbsp;Lines turns 65. The employment agreement also contains a 12-month
covenant not to compete or interfere in certain of the Company&#146;s business relationships if Mr.
Lines resigns for reasons other than a material breach of the agreement by the Company, if Mr.
Lines departs from the Company without the approval of the Board of Directors, or if Mr.&nbsp;Lines is
discharged for cause. Mr.&nbsp;Lines&#146; employment agreement also provides that, upon dismissal without
cause, the Company will (i)&nbsp;pay Mr.&nbsp;Lines compensation due him to the date of termination,
including any accrued bonus, (ii)&nbsp;pay Mr.&nbsp;Lines a payment equal to 12&nbsp;months&#146; base salary, (iii)
provide Mr.&nbsp;Lines continuing health care coverage for a period of 36&nbsp;months following the effective
date of termination, and (iv)&nbsp;pay for certain outplacement services. In the event of any sale,
merger or any form of business combination affecting the Company, Mr.&nbsp;Lines&#146; Employment Agreement
requires the Company to obtain its express written assumption by the acquiring or surviving entity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8.01. Other Events.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On June&nbsp;15, 2006, the Company issued a press release announcing the resignation of William C.
Johnson as its President and Chief Executive Officer and the appointment of James R. Lines as its
President and Chief Operating Officer. The Company&#146;s press release is attached to this Current
Report on Form 8-K as Exhibit&nbsp;99.1.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 3%; margin-top: 6pt">(d)&nbsp;Exhibits.
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Press Release dated June&nbsp;15, 2006 of Graham Corporation
announcing the resignation of William C. Johnson as the
Company&#146;s President and Chief Executive Officer and the
appointment of James R. Lines as the Company&#146;s President and
Chief Operating Officer.</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;<B>Graham Corporation</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: June&nbsp;15, 2006
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;/s/ J. Ronald Hansen</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;J. Ronald Hansen</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;Vice President &#150; Finance &#038; Administration and<BR></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;Chief Financial Officer</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>l20860aexv99w1.htm
<DESCRIPTION>EX-99.1 PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.1 PRESS RELEASE</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><img src="l20860al2086000.jpg">

</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><FONT style="font-size:24pt">News
Release</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 100%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Graham Corporation </B>20 Florence Avenue Batavia, NY 14020

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">IMMEDIATE RELEASE

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Graham Corporation Announces James R. Lines Appointed as President and Chief Operating Officer</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>William C. Johnson resigns as President and CEO for personal reasons</I></B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">BATAVIA, NY, June&nbsp;15, 2006 &#151; Graham Corporation (AMEX: GHM) today reported that its Board
of Directors has appointed James R. Lines as President and Chief Operating Officer effective June
14, 2006, following its receipt of William C. Johnson&#146;s resignation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Jerald D. Bidlack, Chairman of Graham Corporation, said, &#147;We are sorry to see Bill go, but
appreciate the difficulty of his decision. Over the last 18&nbsp;months, management and the Board have
worked together to measurably improve Graham&#146;s operations and to develop a solid strategy to
provide the guiding direction for Graham&#146;s growth. The management and employees of Graham have
fully embraced the changes we have made, and the direction we are headed, as evidenced by the
strength of our performance and outlook. We believe that Jim, given the depth of his experience
with our products and markets and his knowledge of the Company, can readily execute our plans and
provide the leadership to sustain our growth.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Lines has been with Graham since May&nbsp;1984. Since December&nbsp;2004, Mr.&nbsp;Lines was Graham&#146;s Vice
President and General Manager. Mr.&nbsp;Lines has also held the positions of Vice President of
Engineering and Vice President of Sales and Marketing. Prior to his senior management positions,
he was an application engineer, sales engineer and product supervisor. Mr.&nbsp;Lines holds a Bachelor
of Science degree in Aerospace Engineering from the University of Buffalo.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Lines noted, &#147;I am looking forward to the opportunity to continue to drive the growth and
change we are realizing as a Company. Our strategy is to continue to capitalize on the strong
growth we are realizing in our major markets and, in order to be well positioned beyond this
current cycle, to expand our geographic markets and the industries we serve through organic growth
and selective acquisitions designed to mitigate the downside effects of the cyclicality of our
markets. We have a strong team that is committed to the execution of this strategy and we expect
solid growth in fiscal 2007 and beyond.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Lines will also stand for election as a Director by Graham&#146;s stockholders at its upcoming
Annual Meeting on Thursday, July&nbsp;27, 2006. Mr.&nbsp;Johnson will remain an employee of the Company
through July&nbsp;2006 in order to facilitate the transition.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Johnson, who joined Graham in November&nbsp;2004 as President and CEO, commented, &#147;The decision to
leave Graham was a very difficult one for me, but important for my family, and I regret having to
leave during such exciting times for the Company. I am pleased that the Board has recognized Jim&#146;s
strong leadership capabilities and the integral role that he has played in defining our strategy
for growth, improving our operations, increasing our productivity and capitalizing on the
opportunities presented us by our strong markets. Having worked with Jim these past 18&nbsp;months, I
have the utmost confidence that Graham will continue its momentum and success.&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Webcast and Conference Call</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Jerald D. Bidlack, Chairman, Graham Corporation, and James R. Lines, President and COO, will host a
conference call and webcast on June&nbsp;16, 2006 at 10:00&nbsp;a.m. eastern time to discuss Mr.&nbsp;Lines
</DIV>

<P align="center" style="font-size: 10pt">&#150; MORE &#150;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Graham Corporation Announces James R. Lines Appointed as President and Chief Operating Officer</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>June&nbsp;15, 2006</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">appointment. The webcast can be accessed at www.graham-mfg.com. Participants should go to the
website approximately 10 to 15 minutes prior to the scheduled teleconference in order to register
and download any necessary audio software. The teleconference can be accessed by calling
719.457.2681 approximately 5 to 10 minutes prior to the call.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A replay of the call will be available through June&nbsp;23, 2006 at 11:59&nbsp;p.m. eastern time at
719.457.0820 with passcode 3605453. An archive of the webcast and a transcript of the
teleconference will also be available at <U>www.graham-mfg.com.</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ABOUT GRAHAM CORPORATION</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">With world-renowned engineering expertise in vacuum and heat transfer technology, Graham
Corporation is a designer, manufacturer and global supplier of ejectors, pumps, condensers, vacuum
systems and heat exchangers. Over the past 70&nbsp;years, Graham has built a reputation for top
quality, reliable products and high-standards of customer service. Sold either as components or
complete system solutions, the principle markets for Graham&#146;s equipment are the petrochemical, oil
refining and electric power generation industries, including cogeneration and geothermal plants.
Graham equipment can be found in diverse applications, such as metal refining, pulp and paper
processing, ship-building, water heating, refrigeration, desalination, food processing, drugs,
heating, ventilating and air conditioning.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Graham&#146;s reach spans the globe. Its equipment is installed in facilities from North and South
America to Europe, Asia, Africa and the Middle East. More information regarding Graham can be
found at its website: <U>www.graham-mfg.com</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Safe Harbor Statement</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This press release contains forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and
assumptions and are identified by words such as &#147;expects,&#148; &#147;estimates,&#148; &#147;projects,&#148; &#147;anticipates,&#148;
&#147;intends&#148;, &#147;believes,&#148; &#147;could,&#148; and other similar words. All statements addressing operating
performance, events, or developments that Graham expects or anticipates will occur in the future,
including statements relating to the Graham&#146;s anticipated revenues, foreign sales operations, its
strategy to build its global sales representative channel and operations, the effectiveness of
automation in expanding its engineering capacity, its ability to improve cost competitiveness,
customer preferences and changes in market conditions in the industries in which Graham operates,
the change in the competitive landscape, and other related factors are forward-looking statements.
Because they are forward-looking, they should be evaluated in light of important risk factors and
uncertainties. These and other risk factors and uncertainties are more fully described in Graham&#146;s
Annual and Quarterly Reports filed with the Securities and Exchange Commission. Should one or more
of such risks or uncertainties materialize, or should any of Graham&#146;s underlying assumptions prove
incorrect, actual results may vary materially from those currently anticipated. In addition, undue
reliance should not be placed on Graham&#146;s forward-looking statements. Except as required by law,
Graham disclaims any obligation to update or publicly announce any revisions to any of the
forward-looking statements contained in this press release.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>For more information contact:</B><BR>
J. Ronald Hansen, Vice President &#151; Finance and Administration, and CFO<BR>
Phone: (585)&nbsp;343-2216 Email: rhansen@graham-mfg.com<BR>
- -OR-<BR>
Deborah K. Pawlowski, Kei Advisors LLC<BR>
Phone: (716)&nbsp;843-3908 Email: <U>dpawlowski@keiadvisors.com</U>

</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>l20860al2086000.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 l20860al2086000.jpg
M_]C_X``02D9)1@`!`@$`E@"6``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``E@````$``0"6`````0`!_^X`#D%D;V)E`&3``````?_;`(0`"@<'
M!P@'"@@("@\*"`H/$@T*"@T2%!`0$A`0%!0/$1$1$0\4%!<8&A@7%!\?(2$?
M'RTL+"PM,C(R,C(R,C(R,@$+"@H+#`L.#`P.$@X.#A(4#@X.#A08$1$2$1$8
M(!<4%!04%R`<'AH:&AX<(B(@("(B*RLI*RLR,C(R,C(R,C(R_\``$0@`>0&\
M`P$B``(1`0,1`?_$`:(````'`0$!`0$```````````0%`P(&`0`'"`D*"P$`
M`@(#`0$!`0$``````````0`"`P0%!@<("0H+$``"`0,#`@0"!@<#!`(&`G,!
M`@,1!``%(1(Q05$&$V$B<8$4,I&A!Q6Q0B/!4M'A,Q9B\"1R@O$E0S13DJ*R
M8W/"-40GDZ.S-A=49'3#TN(()H,)"A@9A)1%1J2T5M-5*!KRX_/$U.3T976%
ME:6UQ=7E]69VAI:FML;6YO8W1U=G=X>7I[?'U^?W.$A8:'B(F*BXR-CH^"DY
M25EI>8F9J;G)V>GY*CI*6FIZBIJJNLK:ZOH1``("`0(#!04$!08$"`,#;0$`
M`A$#!"$2,4$%41-A(@9Q@9$RH;'P%,'1X2-"%5)B<O$S)#1#@A:24R6B8[+"
M!W/2->)$@Q=4DP@)"A@9)C9%&B=D=%4W\J.SPR@IT^/SA)2DM,34Y/1E=865
MI;7%U>7U1E9F=H:6IK;&UN;V1U=G=X>7I[?'U^?W.$A8:'B(F*BXR-CH^#E)
M66EYB9FIN<G9Z?DJ.DI::GJ*FJJZRMKJ^O_:``P#`0`"$0,1`#\`[-FS9L5=
MFS9L5=FS9L5=FS9L5=FS9L5=FS9L5=FS9L5=FS9L5=FS9L5=FS9L5=FS9L5=
MFS9L5=FS9L5=FS9L5=FS9L5=FS9L5=FS9L5=FS9L5=FS9L5=FS9L5=FS9L5=
MFS9L5=FS9L5=FS9L5=FS9L5=FS9L5=FS9L5=FS9L5=FS9L5=FS9L5=FS8"U7
M5K+2;1KJ\DXHOV4&[NW\J+W/^9VQ)`%EE&,IR$8@RD30`YDHF>:*WA>>9Q'%
M&I9W;8!0*DG(A?\`YDZ="W&QMI+JAIS<^BA'BM0S?>HR/7$^O><]0*6\96UC
MXD1%OW,(/P\G:@Y$[]J^&"IKCRYY93T+2--6U<$B2XE`,49'\HW%0>PW\6[9
M1++([Q],?YQZ^YW6'LW#C(CF!SYY"_`QFA`?TY=/QS3O2_/4]ZX]32)Q;]#/
M!68#YC@NWR/T9*X9HYXDFC)*.*K4%3]*L`0?8YS6VL_.NO#ZS+=206C+R,LK
MF"$J!6JQQTJ*=^-/?!%O-#H\Z'_%A=TH6@6*2YA.^ZU$A3]1QCDD/JLCO-18
MZGL_!(D891AD'/'B\3,/B0"0]&S82V/F[R_?3)!!=@3N:(DBLE2=@`7`!)["
MN'67`@\C?N=1DQ9,1X<D)0/=(5][LV;-A8.S9LV*NS9LV*NS9LV*NS9LV*NS
M9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS
M9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*J5S<PVMO
M)<SN$AB4O(Y[*!4],Y??3ZCYQUT1VP;ZJA*PU!X11=Y'\"U/X8;_`)A:X[.N
MA6XY5X27)7=B:\DBXT^3?=EF9/*'EE(T/'6M1',U%2AH*U_XQAMJ_M>V49)<
M1,;],=Y?J=YH<,M/BAF$>+4Z@\&GB>48]9G\<D/K^KVV@6XT'R^QCD%?KMR*
M&3DPIQY_S^)'V=J>UZ+Y;T_2+0ZQYG"JIH+>T<<MV'[<=/B;_)[;D^S/)VBV
M,%H_F/5B$MX#RM>1VJA_O:#=CR%%'CVZ87RS:OYTUA(P!'$E>"C=(8B=RQ_:
M8[?,^&0[I$63]$.@<L1'[S#CR&./'OK-4=ISEUC$_BOO5O\`6=>\TW;6&G(Z
MV=3PMHZ(/3'0SM6GT$TKTPTLORZ@BM7GU>Y<.@+F.V(H%`K]J134_1DOTC1[
M+2+1;6T6@ZR2'[;M_,QQ+S+<);:!J$K'C6!T4_Y4@]-/^&899X0HRGZC7P=?
M+M&1G#3Z.(PXC(1!`]<K-6?>\WU#2+#]&KK.AS3/:PN$NDN"JS1.2.##@`"#
M4=/ZTZ%Y3U=M6T:*>0DW$1]&=CW=`/B_V0(.0?1+.YF\H:T88GF::2WCCC12
MS%D=6:@6IV#5P^\JW-OY;TB:+6Y4LYI)S*D#,'E*,D:AO3B+-U4]LAC-2!Y`
MQL]SE=H1\7!/'9R9<.;@Q=<AB8@D4.=7]C-,V)V\\5Q!'<0MRAF19(VH156'
M)30[]#BF9+SQ!!H[$.S9&OS"UV]T#RAJ&IV!5;V,1I`[#D%:61(N?$[$J&)%
M=J]<X/I!_,CS9-<R:7>7EY+!Q-QQNA"%]3EQV>2,;\3TQ5].YL\[?X*_.3^6
M^_Z3T_[*,W^"OSD_EOO^D]/^RC%7T3FSS/H_G3SGY7\P+:7M[/(+>X$5_93R
M"=2`P$B!F+T/@RG/3&*NS9L\M^9]?\P)YIU>"'4[M$6_N4CC6>15`$SA5`#4
M`&*OJ3-GGK_`GYR^-W_W$(_^RC-_@7\Y?&[_`.XA'_V48J^A<V>7[3SEYZ\J
M:O+;S7T_UBWDX7=G=/ZZ-P:K(>9?8_S(>G0YZ?!J*XJWFS8R22.*-Y96"1Q@
ML[L0%50*DDGH!BJ_-GG#S9YQ\Q>;/,=Y/H$MU'IUE`[1QV[O'2V@!:2XE"E>
MI-=_9<F?Y*>=KF_%SY>U6Y::Z3]_82S,6D=/]VQ<FZ\?M#O0GL,5>N9LV;%7
M9LB'YJ7-Q:^0M5GM97@G3T.$L3%'%;B%31EH1L<@?Y&ZKJE]K>I)>WL]RB6R
ME5FE>0`^H!4!R<5>UYLV;%79L\X?F?KFM6OGK5H+;4;F&!&BX11S2(@K!$31
M58`;YZ,BWB0GKQ'ZL57YLV;%79LX-^9GG37-8\UCR]Y>N)EAM)!;HEJS*\UU
MTD^)>)HI/"E:;5QWY1?F#>V^L#0M7N'N+?4I`+>>>0LT4_$@+5ZDB6BK2NQ^
M9Q5[OFS9L5=FPF\X2R0^4];EB=HY8["Y9)$)5E80N0RD;@C///E3\QO,.@:M
M%=37DU[9,0MW:SR-('C[\#(3Q85J"/IVQ5]/YL"Z;J5AJMC#J&GSK<6<XY13
M)T(!H>NX((H0>AP5BKLV<O\`S=_,/]$6K:!I$X&JW`*WLB$\[>)E!H#T#R!M
MCU`WV)4Y&_R0U?5;WS7=Q7M]<7,2V$C*DTKR*&$UN.0#L16AQ5[IFS9L5=FS
M9L5=FS9L5=FS9L5=E$@`DF@&Y.7B-W_O+/\`\8V_4<4@60.\O-/+"?ISS<]_
M-LD;/>,K;THP$2U_R2RT^6-NZ^:?./HAC]6+F)74UI!#4LRM3;E0D>YP1Y?:
M.S\EZU?!?WTC&VY#K1E1%^XRUP5Y&":?H>JZTP#-&"B*=O[I/4H#_E%P/HS$
M`L1B>MSD]/EGP2U&:`WQ".CTX[I&K/VH;SYJ+76HP:)9H?2M.*B)!LTT@`55
M4;?"I`'N2,F?ES0(-#L/00\[B2CW$NWQ/2E`:`\1VR'_`)>:<+O4;G4KD>J;
M<`(7'(F60EB]3W`7\<Z/EN(<1.0]>7D'6]I9?!A#0XSZ<0!RG^?,[_M0=_JN
MG:<A>]N8X=B0K,.34_E7JWT9#-<\^:7=Q_5X;%KJ(-R_?GA&Q6O$M&O(NM=Z
M&F!?,WE5H=2N-2O+Z*VTZYFJLC"227DX+<1&BFM*&GQ=,?Y=T[RVZRSM;27E
MM9!Y+K4;BL<0"CEQCMT9^>V]&_H,C*<R>':/OW;M/I=%BPQU!.3.:!]`,(B1
MZ7MO?2[\DEEUO7M4(M;)6AB52!9:>C1I0]:I'4FOO@+4])O-*>*.]41RRQB4
M15JRJ20.5-AT.']CJ6J:_K$>GZ>S6&E%N1MK>D2QPK3G5H54DM^LX&F(\S>;
M$@0@6C/Z4-!11;0@ML!2G)03].5$6.9))H.UQY#BF8F$,6.&,Y<HCZI#^;Q'
M;?G\N;TS2X&M],L[=OM0P1QGYJ@7^&"\V;,T;/'RD92,CS))^;!_SC_\E_J'
M^O;_`/)^/(;_`,X^?WVO?ZMK^N?)E^<?_DO]0_U[?_D_'D'_`"%O;.UEUPW4
M\<`=;;CZCJE:&>M.1&*'K'FOS`GEO0+O6G@-RMKZ=80W`MZDB1?:(;ISKTSF
M_P#T,#9?]623_I(7_JEG2[V]\M:A:O:7UQ9W-K+3U()7C=&XD,*JQH:$`X4_
MH'\M/^6'2/\`@+?%6#6OYY:/'<%H/+OI2SO621)8U9F<[LQ6*I)[YV3/*/FF
M*SA\Y:C%8K&EFEXRP)#01A`_PA..U/EGJ[%79Y,\TL$\WZPYZ+J-R3]$[YZS
MSR9YH4-YPUA6W!U&Y!'L9WQ5[3_RO?R=_P`LU_\`\BHO^J^5_P`KW\G?\LU_
M_P`BHO\`JOAAJ'Y.>1KBRG@M+$V=U(A6&Z66>0QO^R_"2;BU#V.<.U[RSJ'D
M_7(;36[:.ZC'&8*CL(;B*OQ!77@Z]"IZ$?=BJ'\V:Q%KOF34-5MXVCANYB\4
M;TY\:!5Y<:BIIT&>LP*`#PSFWY<V7Y8ZP#J&AZ2D&I6O!IH+DR3/"Y/)7C,S
MNOVE^%UW^6=*Q5V<L_.OSDVG:<OENT_WIU*/G=2AB&C@Y`!1Q_W[Q937]FOC
MG0M>UJTT+1[O5[PGZO:1ERHZLQ/%$'N[$*,\T26OF3S[YAU"_L;1[JZF8SR1
MAE`CCKPC3FY0450%'RQ5ZU^2/E8:?H,NMW*?Z3JII$&&ZVT9*CJH(]1JL>Q'
M'.:^==`O_(7FY)M.F:.)R;O39TY+Q0LRF$GN4'PMXJ1XTPX71/SR50JOJ`4"
M@`NXP`!_SVP#JGDK\VM76,:K:W5ZL-3%Z]Q%)QY4Y<>4II6@Q5[QY7U^W\Q:
M%9ZO;C@+E*R15KPD4\9$K_DL#\QOAMGG7\F_-9T7S(-,N786&K%8./4+<UI`
M_0GXJ\#3Q!/3/16*L,_-W_R7FK_]&_\`U$PYPOR3YUN_)]Y<W=K;1W+7,8B9
M92P``8-4<?EG=/S=_P#)>:O_`-&__43#G,OR0TO3-2UK4H]1LX+R-+961+B-
M)0K>H!4"0&AQ5%_\K^UO_JU6O_!R?US?\K^UO_JU6O\`P<G]<ZY_@_RE_P!6
M/3_^D6'_`)HS?X/\I?\`5CT__I%A_P":,5?,'F779O,.N76L3Q+#+=%2T2$E
M1P18]N6_[.>M8?[I/]4?JSR_^9MI:V?GG5;:S@CM[:-HA'#"JQHM88R>*H`!
MN<]00_W2?ZH_5BJ_(3^:WFL^7?*\J6[<=1U+E:VM&HRAE_>S+0AO@4[$=&*Y
M,Y98X8GEE8)'&I9W;8!0*DG/,?F/4]7_`#`\X2#38Y)_59DTVS9@.,,2EMN9
M"J65"[;]<59K^1WE%I)I/-EU]F,R6UC&RFI8A1).&/:A9-O\KPPE_.;RM^AO
M,,>L6:B.SU3XZ1CB([B,*'^R`!SV<=R>6-L_+'YT6%M':62WMM:Q"D<,5U&B
M*":FBK+3J:XW4/*GYR:E;-::A'>75LY!:&:YB=25-0:-+V.*O7/RZ\Y1^;-!
M6X<!-0M"L%]'4&KA0?54#<+)O2O<$=LEF>7O)7F:^\D>:"URCK`'-IJMKWXJ
M_%S3<<XV%1]U=\]/QR)(BR1L&C<!D8;@@[@C%4F\Z?\`*'Z]_P!L^Z_Y,OGG
M[R/Y('FW3]<$+LFI6,<,EB*C@[,9.4;U_F"T!KL<]`^=/^4/U[_MGW7_`"9?
M.7_\X^_[TZ[_`*EM^N;%6/?ECY[E\HZG+I6J(PTR[E59U>JM;3`\#+Q;:E-I
M!2NP\*'K?YB>?(?*>D1S6PCN-3O#2RA8U3B-VE<*02@'AU)&1O\`.'\OGU2$
M^8])B7Z];1L=1B'PM-#&M1(#6A>,+2G5A\@#SW\O_*5_YWUA%OYY)-*TR.-+
MB21V9EB'+T;:&IJH-#TV45[T!5:TGR=>ZEY9UOSEJK2&..-WM&?=KB=WX23,
MS;E5)/S;OL:G'Y"_\IA>?]LZ7_D_;YU/\Q+>"V_+W5;:WC6*"&V6.*)!1516
M1550.@`&<L_(7_E,+S_MG2_\G[?%7T!FS9L5=FS9L5=FS9L5=FS9L5=C)$$D
M;1GHX*FG@13'YL5>96T;P>4-=TB44OK6X226+_(#PJ6'B/W9.":I'^6A"[--
M+1B.Y$]?^(IDIU+R_#->27\`/JW,1MKZ$$`30..#;D?"ZBA4^U.]1%I[&>U\
MO:UH4@+36,BW=J6H"]L6%9`/8*Q:G0[9CF)C?]4Q'WN_Q:G'GX2#1_,8M1./
M<=H2^`-%./RYC"Z%*W=[AR?H1%_AAOK7F32]&CK=2<IC3A;1T:4@]Z5%![DC
M(7Y2>]N]$O+"PU#ZA=02&=BP4J\3H$(Y,.2<63[2]*X$DTWR]:,;K5M7_25P
MPY_5[0\R[?Y<Y+#[Z'$3(A'A`Y<R=F.718\FMS2S3D?7_=8HR,S>XLU0"U?T
MMYOU+U[I_1T^WJTTA/&&"+8O0MMR(']=NCM9U)+@0^6_+ZE]/0JOPCX[B:M2
MS-M5:T/0#OTIC#J&L:]&NCZ/9BVT]/\`CU@KQI2M9YFI7H3O2I\3AG31_)\'
M(,E[YEXT`-2D/,;]-A0?[(^P.0Y@F]C]4SU\@YTCP2A'@!G'_%])#<0[LF0]
M/?\`>Z]:'REH+Z8C!M;U!:W$L>X1*\1N>+#X20OO4X*_+G1Y(UGU6="OJ`16
MW*H)6O*1J'L2``?GA!HNCZGYHU,W-VSM;\Q]<NS0=!4(G05(`&P^'.JPPQ00
MQP0J$BB4)&@Z!5%`,GCCQ2$JJ,=HAP>T,PP89:?B$\^8\>HF.G]$?H'=[U3-
MFS9D.B2WS#H=EY@T>ZTB^Y"VNE`9D-&4JP=&4^*LH.<;G_(+7A(PM]3M'BK\
M+2"1&I[A5<?CG:]5O6L--NKU(Q,]M$\JQ%N`8H.7$MQ:E?&AS:?+J4L3-J-M
M%:S!J(D,QG4K0;EFBAH:]J8J\0_Y4'YE_P"KC9??+_U2S?\`*@_,O_5QLOOE
M_P"J6=A\R>8!H-O:W#6S7,<]P(9@A(:.(1RSRS<0K%N"1$\1@ZTOA<W-Y`$H
M+1T0.#7GSB2:O3;[=,5>4^6/R,DLM4M[W6[Z.>&V=95MK<&CLA#*KM(H^';<
M4SL.`M6U`Z=8O<K'ZTO..&"'EP#S3R)!"I>C<07<`M0T&^5I]W?S27$-]:"V
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M+F2X:-U$F[%(A`X;BO\`EBOMAKBK!/S(\G^:/-B06.GWMM;:3'266*7F)'G!
M85)1&^!5(H/'KVP?^7?DI/*&BM:RLDNHW,ADO+B/=6H2L2*656XJOCW)PSTG
M5=5U&>5FL88=.2>YMTN!<,\K&VFDMZF'T%`Y&,G[>V#]2O/J&G7=]P]3ZK#)
M-Z=>/+TT+\>5#2M/#%45FPJTS4M3GO)K/4K**TDCBCFB:&X-PKJ[.C`\H82I
M7AX;U]CC_,.K?H71+W5?2]?ZG$TOH\N'+CVY<6I]V*O,/-GY*7^I^8+O4M&N
MK:UM+I_6]&4R!EE;>3CP5MBU6'A7.F^6K35[+1+2SUF=+K4+=/3EN(RQ#A31
M&)D`8MQIR/<X:80?XH(U?5=->T91I\7JP7'+X)RD44\L?V?@9!,G<U!KV.*N
M\\:!<^8_*]]HUK(D4]UZ7"26O`>G-'*:\03T3PR+_EI^6^K>4-2O+N^NK>>.
MYA$2K`7J"'#5/-%\,Z'!)ZL,<M./J*&IUI45IA9J&JZA'>RV.F627EQ!;"YF
M668P#]XSI!&A]*2I<Q/OMQI[XJF^;$[>43P1S!602(K\)%*NO(5HRMN".X.*
M8J\A\Z?D_KOF#S-?:Q;7MK%!=,A2.0R<QPC2/?BA'5<ZXBE453U``/T9?3?"
MGRWKWZ<L7NFMFM)$D*-`YY,%9$GA>O%?MQ2(U.U:=L52O\PO+VO>9-%&D:3<
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MWI;_``2>HH^QT6G;;MAUJE\=/L9;TH)(X*/-5N`6(,/5DK0_82K4[TP!;^8X
MI?,%]HTD/I+9Q"5;IF^&0JL4DZA:"GI+/%4U_:]L516OZ?+J>A:EIL+*DU[:
MS6\;O7B&EC:,%J5-*G(?^6/Y?:IY.EU%[ZY@N!>+$L?H%]O3,A/+FJ_SY-M,
MNY+W3;2\EA-O)<PQS/;D\C&TB!RA-!7C6G3`DNHZJ=6:RM+*&6UA](W%Q)<-
M&ZB0FO"(0.&X@?SBOMBJ:X%L-,TW3(GATZTAM(9',CQP(L:EV`!8A`!6@&"L
MCECYFO[C4(89M/CBL+F]N]/@N5N"\ADM/K!Y/"84"AQ;-T<TVQ5%>;M&N-<\
MN7^DVSI'/=Q\$>2O`'D&WX@GMD+_`"V_+'5_*.NSZE>W5O/#+:O;A(2_(,TD
M4@)YHHI2,YTW";3M8U&\N4+V"II\SSQQ74<QD<-"[(OK1>DH3FJ$_;/$_"=\
M53G-FS8J[-FS8J[-FS8J[-FS8J[-FS8J[`MWIUG>/%)/&&D@Y>D_<"1>$B_)
MEV."LV-6F,I1-Q)![QYO+=8T'5?*^H+>Z:\C6PJT=PHY%`/M)-0<?OV.,?S9
M8W3>MJ&B6MQ<]Y5)CK\P0]?OSJN!9-+TV5R\MG`[GJS1H3]Y&4G"1?#*@>A%
MNVAVK"48_F,)G.(X?%A,PD1YU7WO-I/-^OZA%^CM,MUMXZ%5ALXV:3A2G']J
MGS4#!VB?E[<S^G<ZM)Z,;?$ULN\IKV=CLOO2OT9T-(XXU"1J$0=%4``?0,=A
M&'>YGB^YA/M4QB8:7%'3B7U2'JF?BHVEI;65O':VL8B@B%$1>@WKBV;-EKK"
M22239.Y)YV[-FS8H2WS%:R7>@ZC:Q1F:2>WEC6)2`S%D(X@DK0GYX'\L6EI:
M64L5IIMSI<1E+F&[D$CLQ5075EGN-J`#[7T8=9L52W5;6>>\T>2-.4=M>-+.
M=OA0VEU#7?\`RY%&`O*VEW>EB_M9T`@CG2.Q<&O.UCACCAKWY*BA&KU()[X?
MYL52SS!:W%SIM+=/4EAGM;H1"@9Q:W$5RR)R(')EC(6I`KU(P%Y965I;VX%I
M>V5I*8_2@U"1GD]0<S*ZAIIBJFJT%1TZ9(,V*I?K=O-<V'I0+SD]:W?CL/A2
M>.1COX*I.&&;-BK$/,FB:E<Z7J<EC!SU!WN(X8JJIEM[J%;>1>3=`#23W*`=
M\E^;-BK%+_2K9_-(O;G2+N[?E;FVOH)56&(H>LB&YB)XMN?@;;QZ9*\V;%6(
M>6M*BL=8NY9=(NX;Z:YO7;4FD5K9HYKF6:/C&+AB*H5_W4-\D&N6\USHFHVT
M"\YYK6:.)-A5WC95&^VY.#\V*I'HOEZST6_N/T=`8;.XACYCFSCU8VD_WXS,
M/A8>V7YRL;K4?*VJ6-G'ZMU<0,D,8(')CT%6(&'>;%79%=6T6_GM]9GMXJWB
MW@O-/4D?O!]1@LY4&]`73U8QRZ&AR59L54;5&2UA1Q1E158>X`!R.Z_!)#J4
M]S)87M_:WUO;6ZKISF.6.2VDN9*R,LT#!6^L"E&IL:]JRC-BJ%TN.XCTVSCN
MB3=)!&LY)Y'U`@#U/??!6;-BJ7Z]!<W.D7-I:@^M=*+;FI`,:SL(9)A4C^Z1
MB].],#V%GJ5KK$TMQ(D\%U;H.44?I)');LPW5I9&+2++\J)AQFQ5(_.EA=ZE
MY5U.QLH_5NIX2D48(')JC:K$#`]II&I6GFTSJ$;1#!=R04V>*>ZEMI9HVJ?B
M#NC2*?<CPR29L54KKZS]6F^J<#=<&]`2U]/U*'ASX[\:]:80^6(FCN;PVVFW
M&DZ<U#]3N?3`^L$L9)(%BDD"JPIRWXD[@5Y$R/-BJ'OK.&^LKBRG%8+J)X90
M.O"12C?@<AU[HGF2_P!`LP\:PZS?330ZJZL/W-G>,3+Q\65(XE%/#)SFQ5K(
MKJ&E6\GFI;ZYTB[O&'U;ZM>P2JL41C9C65#<Q$\2:GX&V^[)7FQ5V0W2/*\E
MAJD&JQVQBOIM4U!K^7F3RLIS=R1?`6*CD_HGX1R_')EFQ5K(SI<=Y^GI773[
MBQ=F9M5F)7ZE<L$]..2!?4=N9HIKQ7X:AMZ9)\V*NS9LV*NS9LV*NS9LV*NS
M9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS
M9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS
M9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS
M9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS
M9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS
<9LV*NS9LV*NS9LV*NS9LV*NS9LV*NS9LV*O_V3\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
