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<SEC-DOCUMENT>0000950152-08-005927.txt : 20080801
<SEC-HEADER>0000950152-08-005927.hdr.sgml : 20080801
<ACCEPTANCE-DATETIME>20080801161653
ACCESSION NUMBER:		0000950152-08-005927
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20080731
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080801
DATE AS OF CHANGE:		20080801

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:		08985389

	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>l32583ae8vk.htm
<DESCRIPTION>GRAHAM CORPORATION    8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Graham Corporation    8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></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<BR>
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="center" style="font-size: 10pt; margin-top: 12pt"><b>Date
of Report (Date of earliest event reported):</b> <U><B>July&nbsp;31, 2008</B></U></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Graham Corporation</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></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%">
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    <TD width="30%">&nbsp;</TD>
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    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
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<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="20%">&nbsp;</TD>
    <TD width="35%">&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="center" style="font-size: 10pt; margin-top: 12pt">Registrant&#146;s
telephone number, including area code:&nbsp;<U><B>(585)&nbsp;343-2216</B></U></DIV>

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

<DIV align="center" style="font-size: 10pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&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 style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</TD>
</TR>

</TABLE>
</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"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
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	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">Item&nbsp;5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">Item&nbsp;9.01. Financial Statements and Exhibits</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="l32583aexv99w1.htm">EX-99.1</A></TD></TR>
</TABLE>
</CENTER>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "Item&nbsp;5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers" -->
<DIV align="left"><A NAME="000"></A></DIV>

<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 Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></TD>
</TR>
</TABLE></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Appointment of Alan Fortier as a Director</I>. On July&nbsp;31, 2008, Graham Corporation (the
&#147;Company&#148;) announced the appointment of Alan Fortier to its Board of Directors. Mr.&nbsp;Fortier was
appointed to fill a existing vacancy in the Company&#146;s class of Directors with a term expiring at
the 2009 Annual Meeting of Stockholders and his appointment increases the number of Directors from
six to seven. Mr.&nbsp;Fortier will serve on both the Board&#146;s Audit and Compensation Committees.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.&nbsp;Fortier, age 51, has served since 1988 as President of Fortier &#038; Associates, Inc., a
strategy and profit improvement consulting firm focused on petrochemicals and capital goods
companies. Mr.&nbsp;Fortier received his B.S. in Chemical Engineering from Cooper Union and his MBA
from The Harvard Business School.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There are no arrangements or understandings between Mr.&nbsp;Fortier and any other persons with
respect to his appointment as a Director. Since April&nbsp;1, 2007 there have been no transactions, nor
are there any currently proposed transactions, to which the Company or any of its subsidiaries was
or is to be a party in which Mr.&nbsp;Fortier, or any member of his immediate family, had, or will have,
a direct or indirect material interest.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon Mr.&nbsp;Fortier&#146;s appointment to the Board of Directors, he became eligible to receive equity
and cash compensation in accordance with the Company&#146;s previously adopted compensation arrangements
for independent directors, as described in the section of the Company&#146;s 2008 proxy statement dated
June&nbsp;17, 2008 entitled &#147;Director Compensation Programs&#148;, which description is incorporated herein
by reference. In connection with such eligibility, on July&nbsp;31, 2008, the Compensation Committee
awarded Mr.&nbsp;Fortier a stock option for 462 shares under the 2000 Graham Corporation Incentive
Plan to Increase Shareholder Value. Such stock options have an
exercise price of $89.00 per
share (that being that closing price of the Company&#146;s Common Stock on the American Stock Exchange
on such date), vest 25% per year over four years and expire ten years from the date of grant.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s press release announcing the appointment of Mr.&nbsp;Fortier to the Board of
Directors 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: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Appointment of Jennifer Condame as Chief Accounting Officer and Controller</I>. On July&nbsp;31, 2008,
the Company&#146;s Board of Directors also formally appointed Jennifer Condame as its Chief Accounting
Officer and Controller. In such capacity, Ms.&nbsp;Condame will be responsible for the control and
oversight of the Company&#146;s accounting and financial reporting functions.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.&nbsp;Condame, age 43, has been the Company&#146;s Controller since 1994. Previously, and from 1992
to 1994, she was the Company&#146;s Manager of Accounting and Financial Reporting. Prior to joining the
Company in 1992, Ms.&nbsp;Condame was employed by PricewaterhouseCoopers LLP as an Audit Manager.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There are no arrangements or understandings between Ms.&nbsp;Condame and any other persons with
respect to her expected appointment as the Company&#146;s Chief Accounting Officer and Controller.
Since April&nbsp;1, 2007, there have been no transactions, nor are there any currently</DIV>

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

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

<DIV style="font-size: 10pt; margin-top: 6pt">proposed transactions, to which the Company or any of its subsidiaries was or is to be a party
in which Ms.&nbsp;Condame or any member of her immediate family, had, or will have, a direct or indirect
material interest.</DIV>

<DIV style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On July&nbsp;31, 2008, the Compensation Committee approved an annual base salary of $125,000 for
Ms.&nbsp;Condame. On the same day, the Compensation Committee also approved the grant of 500 stock
options to Ms.&nbsp;Condame. Such stock options were made under the 2000 Graham Corporation Incentive
Plan to Increase Shareholder Value and have an exercise price of
$89.00 per share (that being
that closing price of the Company&#146;s Common Stock on the American Stock Exchange on such date), vest
25% per year over four years and expire ten years from the date of grant.</DIV>

<DIV style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ms.&nbsp;Condame is also eligible to participate in the Company&#146;s bonus plans and arrangements as
may be in effect from time to time and is eligible to participate in certain of the Company&#146;s
Annual Stock-Based Incentive Award Plan for Senior Executives (the &#147;Incentive Plan&#148;). The Company&#146;s
bonus plans and arrangements in which Ms.&nbsp;Condame is expected to participate are more fully
described under the sections of the Company&#146;s 2008 proxy statement dated June&nbsp;17, 2008 entitled
&#147;Compensation of Named Executive Officers and Directors &#151; Annual Incentive Cash Compensation,&#148; and
&#147;&#151; Long Term Equity Incentive Compensation &#151; Options&#148;, which descriptions are incorporated herein
by reference. Ms.&nbsp;Condame will also be eligible to receive the benefits described in the sections
of the 2008 proxy statement entitled &#147;Compensation of Named Executive Officers and Directors &#151;
Perquisites and Other Personal Benefits&#148; and &#147; &#151; Retirement Benefits,&#148; which descriptions are
incorporated herein by reference.</DIV>
<!-- link1 "Item&nbsp;9.01. Financial Statements and Exhibits" -->
<DIV align="left"><A NAME="001"></A></DIV>

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


<DIV style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Exhibits.</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="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" 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"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1</DIV></TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Press Release dated July&nbsp;31, 2008 of Graham Corporation.</TD>
</TR>
<!-- End Table Body -->
</TABLE></DIV>

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

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

<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="002"></A></DIV>

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

<DIV 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>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
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    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2"><B>Graham Corporation</B><BR>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>Date: August 1, 2008&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">/s/ James R. Lines&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">James R. Lines&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

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




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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>l32583aexv99w1.htm
<DESCRIPTION>EX-99.1
<TEXT>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B>
</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%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size:12pt">
    <TD align="left" valign="top"><IMG src="l32583al3258300.gif" alt="(GRAHAM LOGO)">
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">News Release</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Graham Corporation </B>20 Florence Avenue Batavia, NY&nbsp;14020
</DIV>


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

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Graham Corporation Appoints Alan Fortier to Board of Directors</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">BATAVIA, NY, July&nbsp;31, 2008 &#150; Graham Corporation (AMEX: GHM) announced today that the Board of
Directors has appointed Alan Fortier, President of Fortier &#038; Associates, Inc., as a Director for a
term expiring at the 2009 Annual Meeting of Stockholders. Mr.&nbsp;Fortier founded Fortier &#038;
Associates, a strategy and profit improvement consulting firm, in 1988. His firm serves Fortune
100 multi-national companies and other global clients. Prior to founding his consulting firm, Mr.
Fortier was a consulting manager and head of the pricing strategy practice for Ayers, Whitmore &#038;
Co., now a part of A.T. Kearney, and held various management and project engineer positions for
DuPont (NYSE: DD).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Jerald Bidlack, Chairman of the Board of Directors for Graham, commented, &#147;Alan and his team
have successfully worked with some very notable, high-profile global companies within our key
industry markets. He is a highly sought after resource, and we are very fortunate to have him join
our Board. We believe his industry and strategic knowledge will be invaluable as Graham strives to
be a world-class leader in the design and manufacture of engineered-to-order products for the
process industries.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Fortier received his B.S. in Chemical Engineering from Cooper Union in New York, and an M.B.A.
from The Harvard Business School. Mr.&nbsp;Fortier is a lecturer at Columbia Graduate School of
Business&#146;s M.B.A. and Executive Educations programs and a charter member of the Society for the
Advancement of Consulting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>First Quarter Fiscal 2009 Earnings Results</B></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Separately, Graham will report its financial and operating results for the first quarter of fiscal
2009 tomorrow, August&nbsp;1, 2008. Graham&#146;s senior management will host a conference call and live
webcast at 11:00&nbsp;a.m. EST to review the first quarter fiscal 2009 financial and operating results
as well as its strategy and outlook. A question-and-answer session will follow.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Graham&#146;s conference call can be accessed as follows:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>

<TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings"><B>&#167;</b></font></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The live webcast can be found at <U>http://www.graham-mfg.com</U>. Participants should
go to the website 10 -15 minutes prior to the scheduled conference in order to
register and download any necessary audio software.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings"><B>&#167;</b></font></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The teleconference can be accessed by dialing 1-201-689-8560 and requesting
conference ID number 291806 approximately 5 &#151; 10 minutes prior to the call.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To listen to the archived conference call:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings"><B>&#167;</b></font></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The webcast will be archived at <U>http://www.graham-mfg.com</U>. A transcript will
also be posted once available.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
<TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings"><B>&#167;</b></font></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A replay can be heard by calling 1-201-612-7415 and entering the conference ID
number 291806 and account number 3055. The telephonic replay will be available
through August&nbsp;8, 2008, at 11:59&nbsp;p.m. Eastern Time.</TD>
</TR>

</TABLE>
</DIV>

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


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</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="font-size: 10pt; margin-top: 6pt"><B>Graham Appoints Alan Fortier to Board of Directors<BR>
July&nbsp;31, 2008</B>

</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 global designer, manufacturer and supplier of ejectors, pumps, condensers, vacuum
systems and heat exchangers. Over the past 72&nbsp;years, Graham Corporation has built a reputation for
top quality, reliable products and high-standards of customer service. Sold either as components
or complete system solutions, the principal 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: 6pt"><B>For more information contact:</B><BR>
Deborah K. Pawlowski, Kei Advisors LLC<BR>
Phone: (716)&nbsp;843-3908<BR>
Email: <u>dpawlowski@keiadvisors.com</u>

</DIV>

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



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




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