Exhibit 99.2

		News Release

Graham Corporation 20 Florence Avenue Batavia, NY 14020

IMMEDIATE RELEASE

Graham Corporation Declares Quarterly Cash Dividend

BATAVIA, NY, July 31, 2009 — Graham Corporation (NYSE Amex: GHM) announced that its Board of Directors, at its regular meeting on July 30, 2009, declared a quarterly cash dividend of $0.02 per common share.

The dividend will be payable October 2, 2009, to stockholders of record at the close of business on September 4, 2009. Graham has approximately 10 million shares of its common stock outstanding.

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. For over 70 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, www.graham-mfg.com, where additional comprehensive information on the Company can be found.

For more information contact:

Jeffrey Glajch, Vice President Finance and CFO		Deborah K. Pawlowski, Kei Advisors LLC
Phone: (585) 343-2216		Phone: (716) 843-3908
Email: jglajch@graham-mfg.com		Email: dpawlowski@keiadvisors.com

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