Graham Corporation (GHM)

[Soapy Bubbles]

*** Graham Corporation Awarded $2.5 Million in Surface Condenser Orders

$20.8 million in Orders Received in the Fourth Quarter of Fiscal 2009

BATAVIA, N.Y., Apr 07, 2009 (BUSINESS WIRE) -- Graham Corporation (NYSE Amex:
GHM) announced today that it has been awarded $2.5 million in orders for surface
condensers to be installed in conjunction with the renovation of an oil refinery
in the Middle East and the renovation of an oil refinery in South America. Both
orders were booked during Graham's recently completed fiscal 2009 fourth quarter,
which ended March 31, 2009. The order for the Middle East refinery is expected to
ship during Graham's fiscal 2010 third quarter, which ends December 31, 2009.
Shipment to the South American facility is scheduled for Graham's fiscal 2010
fourth quarter, which ends March 31, 2010.

James R. Lines, Graham's President and Chief Executive Officer, commented, "The
fourth quarter was a much stronger quarter for bookings than the trailing third
quarter. We believe that the pipeline for projects remains active, with the
refinery sector demonstrating greater robustness in the quarter than we had seen
in the previous six months. We also received a few fertilizer project orders.
However, we are still seeing a good deal of caution on the part of refiners and
chemical processers to initiate new projects as they continue to evaluate the
potential for further reduction in costs and the availability of capital."

Graham had $20.8 million in orders during the fourth quarter, compared with $8.1
million in orders during the trailing fiscal 2009 third quarter and $35.1 million
in orders during the fourth quarter of fiscal 2008.

Mr. Lines added, "Although short-term visibility for us continues to be
uncertain, we remain confident that long-term growth in the world's energy needs
will translate into additional demand for Graham's products."

ABOUT GRAHAM CORPORATION

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 73 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 principal markets for Graham's equipment are the petrochemical,
oil refining and electric power generation industries, including cogeneration and
geothermal plants. Graham's equipment can be found in diverse applications, such
as metal refining, pulp and paper processing, ship-building, water heating,
refrigeration, desalination, food processing, pharmaceutical, heating,
ventilating and air conditioning.

Graham Corporation's reach spans the globe. Its equipment is installed in
facilities from North and South America to Europe, Asia, Africa and the Middle
East. Graham routinely posts news and other important information on its website,
http://www.graham-mfg.com, where additional comprehensive information can be
found.

Safe Harbor Regarding Forward Looking Statements

This press release contains 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. Forward-looking statements are
subject to risks, uncertainties and assumptions and are identified by words such
as "expects," "estimates," "projects," "anticipates," "believes," "could," and
other similar words. All statements addressing operating performance, events, or
developments that Graham Corporation expects or anticipates will occur in the
future, including but not limited to, statements relating to anticipated
revenues, profit margins, foreign sales operations, its strategy to build its
global sales representative channel, the effectiveness of automation in expanding
its engineering capacity, its ability to improve cost competitiveness, customer
preferences, changes in market conditions in the industries in which Graham
Corporation operates, changes in general economic conditions and customer
behavior and Graham Corporation's acquisition strategy are forward-looking
statements. Because they are forward-looking, they should be evaluated in light
of important risk factors and uncertainties. These risk factors and uncertainties
are more fully described in Graham Corporation's most recent Annual and Quarterly
Reports filed with the Securities and Exchange Commission, including under the
heading entitled "Risk Factors." Should one or more of these risks or
uncertainties materialize, or should any of Graham Corporation's underlying
assumptions prove incorrect, actual results may vary materially from those
currently anticipated. In addition, undue reliance should not be placed on Graham
Corporation's forward-looking statements. Except as required by law, Graham
Corporation disclaims any obligation to update or publicly announce any revisions
to any of the forward-looking statements contained in this press release.

SOURCE: Graham Corporation

For More Information:
Graham Corporation
Jeffrey F. Glajch, 585-343-2216
Vice President Finance and CFO
[e-mail]
or
Kei Advisors LLC
Deborah K. Pawlowski, 716-843-3908
[e-mail]


Copyright Business Wire 2009