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<SEC-DOCUMENT>0000914122-08-000007.txt : 20080414
<SEC-HEADER>0000914122-08-000007.hdr.sgml : 20080414
<ACCEPTANCE-DATETIME>20080414080228
ACCESSION NUMBER:		0000914122-08-000007
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20080410
ITEM INFORMATION:		Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080414
DATE AS OF CHANGE:		20080414

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MFRI INC
		CENTRAL INDEX KEY:			0000914122
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL & COMMERCIAL FANS & BLOWERS & AIR PURIFYING EQUIP [3564]
		IRS NUMBER:				363922969
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32530
		FILM NUMBER:		08753572

	BUSINESS ADDRESS:	
		STREET 1:		7720 LEHIGH AVE
		CITY:			NILES
		STATE:			IL
		ZIP:			60714
		BUSINESS PHONE:		8479661000

	MAIL ADDRESS:	
		STREET 1:		7720 LEHIGH AVE
		CITY:			NILES
		STATE:			IL
		ZIP:			60714

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MIDWESCO FILTER RESOURCES INC
		DATE OF NAME CHANGE:	19970402
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>mfri8k041108.htm
<DESCRIPTION>FORM 8-K
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Washington, D.C. 20549</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>__________</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>FORM 8-K</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>CURRENT REPORT</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Pursuant to Section 13 OR 15(d) of</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>The Securities Exchange Act of 1934</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Date of Report (Date of earliest event reported) </font></p>

<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">
<font size="2">April 10, 2008</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>MFRI, INC.</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Exact name of registrant as specified in its charter)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse'>
    <tr >
        <td width="197" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Delaware</font></p> </td>
        <td width="197" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>0-18370</font></p> </td>
        <td width="197" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>36-3922969</font></p> </td> </tr>
    <tr >
        <td width="197" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(State or Other</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Jurisdiction of</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Incorporation)</font></p> </td>
        <td width="197" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(Commission</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>File Number)</font></p> </td>
        <td width="197" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(IRS Employer</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Identification No.)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="475" style='border-collapse:collapse'>
    <tr >
        <td width="384" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>7720 Lehigh Avenue, Niles, Illinois</font></p> </td>
        <td width="60" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>60714</font></p> </td>
        <td  width="31">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td width="384" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(Address of principal executive offices)</font></p> </td>
        <td  nowrap colspan="2" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(Zip Code)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Registrant&#146;s telephone number, including area code: 847-966-1000 </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Not Applicable</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Former name or former address, if changed since last report.)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>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 (see General Instruction A.2. below):</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2><font face=Wingdings>o</font> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2><font face=Wingdings>o</font> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2><font face=Wingdings>o</font> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2><font face=Wingdings>o</font> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<b>
<font size="2">Item 4.02&nbsp;&nbsp;&nbsp; Non-Reliance on Previously Issued
Financial Statements or a Related Audit Report or Completed Interim Review.</font></b><p class="MsoBodyText">

<font size="2">On April&nbsp;10, 2008, MFRI, Inc. (the "Company"), </font>
<font size="2">determined that income tax benefit was overstated by $232,000 for
the quarter and income tax expense understated by the same amount for the nine
months, in the Condensed Consolidated Statements of Operations (Unaudited)
included in the Company's report on Form 10-Q for the quarterly period ended
October 31, 2007.&nbsp; The Company has concluded that such financial statements
should no longer be relied upon.</font></p>
<p class="MsoBodyText"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As a result, the Company will restate its interim condensed consolidated
financial statements for the quarter ended October&nbsp;31, 2007 included in its
Form&nbsp;10-Q for the quarter ended October&nbsp;31, 2007.&nbsp; The Company's management and
its audit committee have discussed these matters with the Company's independent
registered public accounting firm.&nbsp; The Company expects to file Form&nbsp;10-Q/A for
the quarter ended October&nbsp;31, 2007 to reflect this restatement as soon as
practicable.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>
</p>
<p><b><font size="2">Item 7.01&nbsp;&nbsp;&nbsp; Regulation FD Disclosure</font></b></p>
<!-- EEDocs PBStart-->
<p class="MsoNormal" style="margin-bottom:12.0pt;text-indent:.5in">
<font size="2">Additional information of the registrant is attached as
Exhibit&nbsp;99.1 (Press Release dated April&nbsp;11, 2008) to this report and is
incorporated herein by reference.&nbsp; The registrant undertakes no obligation to
update this information, including any forward-looking statements, to reflect
subsequently occurring events or circumstances.</font></p>
<p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
margin-left:.5in"><u><font size="2">NOTE</font></u><font size="2">:&nbsp; The
information in this Item (including the Exhibit) shall not be deemed to be
"filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or
otherwise subject to the liabilities of that section.&nbsp; This information will not
be deemed an admission as to the materiality of any information contained herein
that is required to be disclosed solely by Regulation FD.</font></p>
<p><b><font size="2">Item 9.01&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits</font></b></p>
<p class="MsoNormal" style="margin-bottom:12.0pt;text-indent:.5in;page-break-after:
avoid"><font size="2">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits</font></p>
<p class="MsoNormal" style="margin-bottom:12.0pt;text-indent:.5in;page-break-after:
avoid"><font size="2">The following Exhibit is included with this Report:</font></p>
<p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
margin-left:1.0in;text-indent:-.5in"><font size="2">99.1&nbsp;&nbsp;&nbsp;&nbsp; Press Release
issued by MFRI, Inc. on April&nbsp;11, 2008</font></p>
<!-- EEDocs PBEnd-->

<p style=' margin-bottom:0pt; margin-top:5pt; margin-left:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:5pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>For more information visit the Company's website </font><font color="#0000FF"><u><font size=2>www.mfri.com</font></u></font><font size=2> or contact the company directly. </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt; margin-left:0.5in;text-align:left;'><i><font size=2>Statements and other information contained in this announcement which can be identified by the use of forward-looking terminology such as "anticipate," "may," "will," "expect," "continue," "remain," "intend," "aim," "should," "prospects," "could," "future," "potential," believes," "plans," "likely," and "probable," or the negative thereof or other variations thereon or comparable terminology, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 as amended and are subject to the safe harbors created thereby. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, economic conditions, market demand and pricing,
competitive and cost factors, raw material availability and prices, global interest rates, currency exchange rates, labor relations and other risk factors. </font></i></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
<font size=2>&nbsp;</font>

</p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><b><font size=2>Signature</font></b></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><font size=2>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. </font></p>

<p style=' margin-bottom:0pt; margin-top:5pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:5pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p><font size=2>Date: April 14, 2008</font></p> </td>
        <td width="72" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=1>&nbsp;</font></p> </td>
        <td width="16" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=1>&nbsp;</font></p> </td>
        <td width="320" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=2>MFRI, Inc.</font></p> </td> </tr>
    <tr >
        <td width="175" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=1>&nbsp;</font></p> </td>
        <td width="72" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=1>&nbsp;</font></p> </td>
        <td width="16" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=1>&nbsp;</font></p> </td>
        <td width="320" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="175" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=1>&nbsp;</font></p> </td>
        <td width="72" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p align=right style='text-align:right'><font size=2>By:</font></p> </td>
        <td width="16" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=1>&nbsp;</font></p> </td>
        <td width="320" valign=top style='border-bottom:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=2>/s/ Michael D. Bennett</font></p> </td> </tr>
    <tr >
        <td width="175" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=1>&nbsp;</font></p> </td>
        <td width="72" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=1>&nbsp;</font></p> </td>
        <td width="16" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=1>&nbsp;</font></p> </td>
        <td width="320" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=2>Vice President, Secretary and Treasurer</font></p> </td> </tr>
    <tr >
        <td width="175" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=1>&nbsp;</font></p> </td>
        <td width="72" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=1>&nbsp;</font></p> </td>
        <td width="16" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=1>&nbsp;</font></p> </td>
        <td width="320" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p><font size=2>(Principal Financial and Accounting Officer)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>&nbsp;</p>



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<div align=left>

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    <tr >

        <td width="469" nowrap valign=top >
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=3>Exhibit 99.1</font></b></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:-0.5in;text-align:justify;'><img src="img1.gif"><br> </p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:-0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:-0.5in;text-align:justify;'><b><font size=2>Press Release</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:-0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>


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        <td width="48" nowrap valign=top >
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Company:</font></b></p> </td>

        <td width="93" nowrap valign=top >
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>MFRI, Inc.</font></b></p> </td> </tr></table>
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<table border="0" cellspacing=0 cellpadding=0 width="499" style='margin-left:0pt;border-collapse:collapse; '>
    <tr >

        <td width="48" nowrap valign=top >
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Contact:</font></b></p> </td>

        <td width="451" nowrap valign=top >
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Michael D. Bennett, Vice President Chief Financial Officer</font></b></p> </td> </tr></table>
</div>



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    <tr >

        <td width="48" nowrap valign=top >
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>

        <td width="129" nowrap valign=top >
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>(847) 966-1000</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:-0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:-0.5in;text-align:left;'><b><font size=2>MFRI TO RESTATE THIRD QUARTER EARNINGS TO CORRECT A $232,000 ADJUSTMENT TO THE PROVISION FOR INCOME TAXES, WITH NO EFFECT ON THE COMPANY&#146;S SALES, OPERATING EXPENSES, OR CASH FLOW.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:-0.5in;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:-0.5in;text-align:left;'><b><font size=2>NILES, IL, April 11, 2008 &#150; MFRI, Inc., (NASDAQ NM:  MFRI), </font></b><font size=2>a leading manufacturer of custom-designed specialty piping systems, industrial filtration products and industrial process cooling equipment, announced today the discovery of an adjustment to the provision for income taxes for the third quarter of 2007, which will require restatement of its previously reported quarterly earnings and the filing of an amendment to its report on Form 10-Q for the quarter ended October 31, 2007,</font><font color="#0D0D0D"><font size=2> which will promptly be filed on Form 10-Q/A.  The restatement will decrease the previously reported income tax benefit for the quarter and increase income tax expense for the nine months by $232,000, or 3 cents per share.</font></font><font size=2> </font><b><font size=2>The restatement does not affect the company&#146;s sales, operating
expenses, or cash flow.  </font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:-0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:-0.5in;text-align:left;'><font size=2>&#147;We are evaluating our income tax provision calculation procedures and controls to prevent recurrence of such errors.&#148; said Michael D. Bennett, CFO.  </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:-0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:-0.5in;text-align:left;'><font size=2>A current report on Form 8-K will be filed.  That report and Form 10-Q/A for the third quarter of 2007, once filed, will be accessible at </font><b><font size=2>http://www.sec.gov/</font></b><font size=2>.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:-0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:-0.5in;text-align:left;'><i><font size=2>Statements and other information contained in this announcement which can be identified by the use of forward-looking terminology such as &#147;anticipate,&#148; &#147;may,&#148; &#147;will,&#148;  &#147;expect,&#148; &#147;continue,&#148; &#147;remain,&#148; &#147;intend,&#148; &#147;aim,&#148; &#147;should,&#148; &#147;prospects,&#148; &#147;could,&#148; &#147;future,&#148; &#147;potential,&#148; &#147;believes,&#148; &#147;plans,&#148; &#147;likely,&#148; and &#147;probable,&#148; or the negative thereof or other variations thereon or comparable terminology, constitute &#147;forward-looking statements&#148; within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 as amended, and are subject to the safe harbors created thereby.  These statements should be considered as subject to the many risks and uncertainties
that exist in the Company&#146;s operations and business environment.  Such risks and uncertainties include, but are not limited to, economic conditions, market demand and pricing, competitive and cost factors, raw material availability and prices, global interest rates, currency exchange rates, labor relations and other risk factors.</font></i></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:-0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>



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