East Hills, NY —Pall, a manufacturer of filtration, separation and purification products, announced that it has undertaken a cost reduction and facilities rationalization program that is expected to result in more than $40 million in annualized savings by the end of fiscal 2008. Pall will reduce its manufacturing footprint by 20%, or up to 12 facilities, and its manufacturing headcount by 10%. Costs savings of $20 million are expected in fiscal 2006. On its conference call, Pall stated it plans to reduce the cost of sales by closing manufacturing facilities in North America and Europe, expanding outsourcing, rationalizing product lines

and selling or discontinuing lower margin businesses. The company also said it will increase prices and manufacturing efficiencies.