Exhibit 18





Graham Corporation
20 Florence Avenue
Post Office Box 719
Batavia, NY  14020

Dear Sirs/Madams:

At  your  request, we have read the description included in  your
Quarterly  Report  on  Form 10-Q to the Securities  and  Exchange
Commission for the quarter ended September 30, 2004, of the facts
relating  to  the change in accounting for certain  construction-
type  contracts  with a duration in excess of four  weeks,  which
were  not  previously  accounted  for  under  the  percentage  of
completion  method,  from the completed contract  method  to  the
percentage of completion method. We believe, on the basis of  the
facts  so  set  forth and other information furnished  to  us  by
appropriate officials of the Company, that the accounting  change
described  in  your  Form  10-Q is to an  alternative  accounting
principle that is preferable under the circumstances.

We  have  not  audited any consolidated financial  statements  of
Graham   Corporation   (the  "Company")  and   its   consolidated
subsidiaries as of any date or for any period subsequent to March
31,  2004.  Therefore, we are unable to express, and  we  do  not
express, an opinion on the facts set forth in the above-mentioned
Form  10-Q,  on  the  related  information  furnished  to  us  by
officials  of the Company, or on the financial position,  results
of  operations,  or  cash  flows of Graham  Corporation  and  its
consolidated  subsidiaries  as of any  date  or  for  any  period
subsequent to March 31, 2004.




/s/ Deloitte & Touche LLP
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Deloitte & Touche LLP
Rochester, New York
November 9, 2004