EXHIBIT 99

Pall Corporation Earnings Up Over 40%
Sales Increase 10%

May 31, 2007 (EAST HILLS, NY) — Pall Corporation (NYSE: PLL — News) today reported sales and earnings results for the third quarter ended April 30, 2007.

Sales for the quarter were $559.3 million, up 9.7% compared with the third quarter last year. Diluted earnings per share (“EPS”) were $0.54, up from $0.20 a year ago. Net earnings were $67.1 million compared to $25.2 million a year ago. EPS on a pro forma basis were $0.53 per share as compared to $0.37 per share in the same quarter last year.

For the nine months ended April 30, 2007, sales were $1.6 billion, an increase of 13% over the prior year. Net earnings were $147.3 million, or $1.18 per share compared to $0.66 last year. EPS on a pro forma basis, excluding items principally related to the Company’s cost reduction initiatives and favorable income tax related adjustments, were $1.24 per share as compared to $0.85 per share in the same period last year.

Eric Krasnoff, Chairman and CEO, stated, “Execution of our strategic plan is driving improvements to the top and bottom line. Pall’s Total Fluid Management(sm) value proposition is resonating with customers. The benefits from pricing, productivity improvement and cost reduction initiatives have driven operating profit growth of 35%.”

Income Statement Discussion

At constant exchange rates, sales increased $27.0 million, or 5.3%, in the quarter and $130.2 million, or 9.2%, during the nine months. The impact of foreign currency translation increased the reported sales growth to $49.4 million, or 9.7%, for the quarter, and $184.0 million, or 13.0%, for the nine months. The impact of foreign currency translation increased EPS by $0.01 in the quarter and $0.02 for the nine months.

Referring to the quarter, Mr. Krasnoff added, “Pall’s broad cost reduction initiatives were a major contributor to the gross margin expansion to 49.5%. Continued improvement in the profitability of systems played a key role. We are on track to achieve further gross margin expansion in fiscal 2008 as our cost reduction and facilities rationalization initiatives continue to gain traction. Selling, general and administrative (“S,G&A”) expenses again decreased as a percentage of sales falling to 30%.”

Life Sciences — Third Quarter Summary

					% CHANGE
					IN LOCAL
Sales:	APR. 30, 2007		% CHANGE		CURRENCY
Medical	$	121,934		8.2		4.4
BioPharmaceuticals		107,110		14.9		9.2
Total Life Sciences segment	$	229,044		11.2		6.6

			% OF SALES
Gross profit	$	122,050		53.3	%
Operating profit	$	50,121		21.9	%

BioPharmaceuticals sales growth was driven by strong consumables sales into the fast-growing biotechnology and vaccine industries. Medical sales increased driven by new blood center customers and new products and applications for the blood business; and growth in Hospital and Laboratory product sales, particularly in the Western Hemisphere.

The Life Sciences operating profit increase primarily reflects gross margin improvement attributable to manufacturing efficiencies and price increases.

Industrial — Third Quarter Summary

					% CHANGE
					IN LOCAL
Sales:	APR. 30, 2007		% CHANGE		CURRENCY
General Industrial	$	193,231		9.8		4.9
Aerospace and Transportation		62,417		6.7		1.7
Microelectronics		74,655		7.5		5.5
Total Industrial segment	$	330,303		8.6		4.4

			% OF SALES
Gross profit	$	155,447		47.1	%
Operating profit	$	54,246		16.4	%

General Industrial consumables and systems sales growth in the energy markets was particularly strong. Microelectronics sales continue to benefit from our strategic diversification into the consumer side of the electronics market. Sales in Europe were robust while the Asian market started to slow and the U.S. market was down.

Gross margins improved to 47.1% compared with 44.8% last year driven by sales and manufacturing initiatives, particularly in the systems area. In addition, product mix was favorable to gross margin in the quarter. S,G&A improved by 2% as a percentage of sales

to 28.5% reflecting top-line leverage and cost reduction initiatives. Operating profit increased 49% to $54.2 million and operating margin improved to 16.4% from 12.0% last year.

The overall backlog in Industrial was up 26% compared to a year ago. The systems backlog increased 41%, with particularly strong growth in the Municipal Water and Food and Beverage markets.

Outlook

Mr. Krasnoff concluded, “For the full fiscal year, we expect Life Sciences to achieve mid single-digit sales growth with Medical on the low end and BioPharmaceuticals around 10%. Pall Industrial should come in near the top end of the 5-7% growth range provided at the beginning of the fiscal year reflecting a slowdown in the Microelectronics market offset by the vitality of systems sales and the Energy marketplace generally. This adds up to low revenue growth in the fourth quarter over a very strong fourth quarter in fiscal 2006.

Our expectations for the full year are for gross margins for the Company to stabilize as the impact of our cost reduction initiatives grow. S,G&A is expected to be about 30% of sales. Our underlying tax rate is expected to be between 24 and 25% excluding the effects of favorable income tax related adjustments.

At mid-year we shared an expectation that earnings would modestly exceed prior guidance. Now with three quarters in the books, we expect to finish the year with strong earnings.”

Conference Call

Tomorrow, June 1, 2007, at 8:30 am ET, Pall Corporation will host its quarterly earnings conference call. The call will be webcast and individuals can access it at www.pall.com/investor. Listening to the webcast requires speakers and Microsoft Windows Media Player software. The webcast will be archived for 30 days.

About Pall Corporation:

Pall Corporation is the global leader in the rapidly growing field of filtration, separation and purification. Pall is organized into two businesses: Life Sciences and Industrial. These businesses provide leading-edge products to meet the demanding needs of customers in biotechnology, pharmaceutical, transfusion medicine, energy, electronics, municipal and industrial water purification, aerospace, transportation and broad industrial markets. Total revenues for fiscal year 2006 were $2.0 billion. The Company headquarters is in East Hills, New York with extensive operations throughout the world. For more information visit Pall at http://www.pall.com/.

Forward Looking Statements:

Results for third quarter ended April 30, 2007 are preliminary until the Company’s Form 10-Q is filed with the Securities and Exchange Commission. Forward-looking statements contained in this and other written and oral reports are based on current Company expectations and are subject to risks and uncertainties, which could cause actual results to differ materially. All statements regarding future performance, earnings projections, earnings guidance, events or developments are forward-looking statements. Such risks and uncertainties include, but are not limited to: changes in product mix and product pricing particularly as we expand our systems business in which we experience significantly longer sales cycles and less predictable revenue with no certainty of future revenue streams from related consumable product offerings and services; increases in costs of manufacturing and operating costs including energy and raw materials; the Company’s ability to achieve the savings anticipated from cost reduction and margin improvement initiatives including the timing of completion of the facilities rationalization initiative; fluctuations in foreign currency exchange rates and interest rates; regulatory approval and market acceptance of new technologies; changes in business relationships with key customers and suppliers including delays or cancellations in shipments; success in enforcing patents and protecting proprietary products and manufacturing techniques; successful completion or integration of acquisitions; domestic and international competition in the Company’s global markets; and global and regional economic conditions and legislative, regulatory and political developments. The Company makes these statements as of the date of this disclosure and undertakes no obligation to update them.

Management uses certain non-GAAP measurements to assess Pall’s current and future financial performance. The non-GAAP measurements do not replace the presentation of Pall’s GAAP financial results. These measurements provide supplemental information to assist management in analyzing Pall’s financial position and results of operations. Pall has chosen to provide this information to facilitate meaningful comparisons of past, present and future operating results and as a means to emphasize the results of ongoing operations.

PALL CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(AMOUNTS IN THOUSANDS)

	APR. 30, 2007		JUL. 31, 2006
Assets:
Cash and cash equivalents	$	364,672	$	317,657
Accounts receivable		512,673		517,632
Inventories		473,418		408,273
Other current assets		143,639		133,419
Total current assets		1,494,402		1,376,981
Property, plant and equipment, net		584,440		620,979
Other assets		549,854		554,898
Total assets	$	2,628,696	$	2,552,858
Liabilities and Stockholders’ Equity:
Short-term debt	$	71,667	$	63,382
Accounts payable, income taxes and other current liabilities		493,659		467,434
Total current liabilities		565,326		530,816
Long-term debt		540,499		640,015
Deferred taxes and other non-current liabilities		214,472		203,331
Total liabilities		1,320,297		1,374,162
Stockholders’ Equity		1,308,399		1,178,696
Total liabilities and stockholders’ equity	$	2,628,696	$	2,552,858

PALL CORPORATION
CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)
(Amounts in thousands, except per share data)

	THIRD QUARTER ENDED						NINE MONTHS ENDED
	APR. 30,			APR. 30,			APR. 30,			APR. 30,
	2007			2006			2007			2006
Net sales	$	559,347		$	509,981		$	1,603,565		$	1,419,579
Cost of sales		282,227	(a)		271,388	(b)		846,303	(a)		753,491	(b)
Gross profit		277,120			238,593			757,262			666,088
% of sales		49.5	%		46.8	%		47.2	%		46.9	%
Selling, general and administrative expenses		167,677			157,407			493,255			466,250
Research and development		15,656			14,511			45,167			41,975
Earnings before restructuring and other charges/(gains), net (“ROTC”), interest expense, net, and income taxes		93,787			66,675			218,840			157,863
ROTC		8,620	(a)		7,313	(b)		22,060	(a)		10,999	(b)
Interest expense, net		4,260			5,091			14,894			16,472
Earnings before income taxes		80,907			54,271			181,886			130,392
Provision for income taxes		13,833	(a)		29,082	(b)		34,575	(a)		47,657	(b)
Net earnings	$	67,074		$	25,189		$	147,311		$	82,735
Earnings per share:
Basic	$	0.54		$	0.20		$	1.20		$	0.66
Diluted	$	0.54		$	0.20		$	1.18		$	0.66
Average shares outstanding:
Basic		123,399			125,614			123,110			125,243
Diluted		124,781			126,581			124,662			126,121

	THIRD QUARTER ENDED					NINE MONTHS ENDED
	APR. 30,			APR. 30,		APR. 30,			APR. 30,
	2007			2006		2007			2006
Net earnings as reported	$	67,074		$	25,189	$	147,311		$	82,735
ROTC and one-time purchase accounting adjustment, after pro forma tax effect		5,818			5,040		15,964			7,819
Tax adjustments		(6,583	)		17,000		(8,100	)		17,000
Pro forma earnings	$	66,309		$	47,229	$	155,175		$	107,554
Diluted earnings per share as reported	$	0.54		$	0.20	$	1.18		$	0.66
ROTC and one-time purchase accounting adjustment, after pro forma tax effect		0.04			0.04		0.13			0.06
Tax adjustments		(0.05	)		0.13		(0.07	)		0.13
Pro forma diluted earnings per share	$	0.53		$	0.37	$	1.24		$	0.85

(a)	Cost of sales includes incremental depreciation and other adjustments of $377 in the quarter and $2,893 (2 cents per share, after pro forma tax effect) in the nine months recorded in conjunction with the Company’s facilities rationalization initiative. The other adjustments include a charge of $566 for the nine months related to a one-time purchase accounting adjustment to record, at market value, inventory acquired from BioSepra. This resulted in a $2,431 increase in acquired inventories in accordance with SFAS No. 141 “Business Combinations” and charges to cost of sales in the periods when the sale of a portion of the underlying inventory occurred.
	ROTC in the quarter includes charges of $8,420 (4 cents per share, after pro forma tax effect) primarily comprised of severance and other costs related to the Company’s cost reduction programs, including its facilities rationalization initiative. ROTC in the nine months includes charges of $19,299 (10 cents per share, after pro forma tax effect) primarily comprised of severance costs and an impairment charge on certain long-lived assets partly offset by a gain on the sale of a facility. The charges in the nine months relate to the Company’s cost reduction programs. In addition, the quarter and nine months include $200 and $2,761 (1 cent per share, after pro forma tax effect), respectively, related to an increase in environmental reserves.
	Provision for income taxes includes $6,583 (5 cents per share) in the quarter and $8,100 (7 cents per share) in the nine months reflecting a change in estimate of fiscal year 2006 income tax liabilities, including amounts relating to the repatriation of foreign subsidiary earnings as well as the reversal of a deferred tax asset valuation reserve which was recorded in the second quarter.
(b)	Included in cost of sales is a charge of $333 and $839 in the quarter and nine months, respectively, related to a one-time purchase accounting adjustment to record, at market value, inventory acquired from BioSepra as discussed above.
	ROTC includes severance and other costs of $7,313 (4 cents per share, after pro forma tax effect) in the quarter and $13,199 (7 cents per share, after pro forma tax effect) in the nine months primarily related to the Company’s business realignment and ongoing cost reduction programs. In addition, the nine months includes gains on the sale of an investment and stock rights totaling $2,200 (1 cent per share, after pro forma tax effect).
	Provision for income taxes includes a charge of $17,000 (or 13 cents per share) in the quarter and nine months related to the tax effect of the repatriation of foreign subsidiary earnings.

PALL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW
(Unaudited)
(AMOUNTS IN THOUSANDS)

	NINE MONTHS ENDED
	APR. 30, 2007			APR. 30, 2006
Net cash provided by operating activities	$	213,554		$	151,667
Investing activities:
Disposals of long-lived assets		44,609			6,564
Capital expenditures		(54,086	)		(72,784	)
Other		(3,648	)		(12,903	)
Net cash used by investing activities		(13,125	)		(79,123	)
Financing activities:
Dividends paid		(41,521	)		(38,611	)
Notes payable and long-term borrowings		(109,802	)		(18,945	)
Purchase of treasury stock		(51,016	)		(5,750	)
Other		41,406			27,518
Net cash used by financing activities		(160,933	)		(35,788	)
Cash flow for period		39,496			36,756
Cash and cash equivalents at beginning of year		317,657			164,928
Effect of exchange rate changes on cash		7,519			5,675
Cash and cash equivalents at end of period	$	364,672		$	207,359
Free cash flow:
Net cash provided by operating activities	$	213,554		$	151,667
Less capital expenditures		54,086			72,784
Free cash flow	$	159,468		$	78,883

PALL CORPORATION
SUMMARY STATEMENT OF OPERATING PROFIT BY SEGMENT
(Unaudited)
(DOLLAR AMOUNTS IN THOUSANDS)

	THIRD QUARTER ENDED						NINE MONTHS ENDED
	APR. 30,			APR. 30,			APR. 30,			APR. 30,
	2007			2006			2007			2006
Life Sciences
Sales	$	229,044		$	205,937		$	633,981		$	562,751
Cost of sales (a)		106,994			103,185			310,691			285,020
Gross profit		122,050			102,752			323,290			277,731
% of sales		53.3	%		49.9	%		51.0	%		49.4	%
Selling, general and administrative expenses		63,369			54,159			182,897			163,511
Research and development		8,560			7,625			24,048			23,136
Operating profit	$	50,121		$	40,968		$	116,345		$	91,084
% of sales		21.9	%		19.9	%		18.4	%		16.2	%
Industrial
Sales	$	330,303		$	304,044		$	969,584		$	856,828
Cost of sales (a)		174,856			167,870			532,719			467,632
Gross profit		155,447			136,174			436,865			389,196
% of sales		47.1	%		44.8	%		45.1	%		45.4	%
Selling, general and administrative expenses		94,105			92,880			279,838			273,022
Research and development		7,096			6,886			21,119			18,839
Operating profit	$	54,246		$	36,408		$	135,908		$	97,335
% of sales		16.4	%		12.0	%		14.0	%		11.4	%
CONSOLIDATED:
Operating profit	$	104,367		$	77,376		$	252,253		$	188,419
General corporate expenses		(10,203	)		(10,368	)		(30,520	)		(29,717	)
Earnings before ROTC, interest expense, net and income taxes(a)		94,164			67,008			221,733			158,702
ROTC (a)		(8,997	)		(7,646	)		(24,953	)		(11,838	)
Interest expense, net		(4,260	)		(5,091	)		(14,894	)		(16,472	)
Earnings before income taxes	$	80,907		$	54,271		$	181,886		$	130,392

(a) Included in ROTC for the purpose of evaluation of segment profitability are other adjustments recorded in cost of sales. For the quarter and nine months ended April 30, 2007, such adjustments include incremental depreciation and other adjustments of $377 and $2,327 recorded in conjunction with the Company’s facilities rationalization initiative. Furthermore, such adjustments include a charge of $566 for the nine months ended April 30, 2007 and $333 and $839 for the quarter and nine months ended April 30, 2006, respectively, related to a one-time purchase accounting adjustment to record, at market value, inventory acquired from BioSepra. This resulted in a $2,431 increase in acquired inventories in accordance with SFAS No. 141 “Business Combinations” and charges to cost of sales in the periods when the sale of a portion of the underlying inventory occurred.

PALL CORPORATION
SUPPLEMENTAL SEGMENT SALES INFORMATION BY MARKET AND GEOGRAPHY
(Unaudited)
(DOLLAR AMOUNTS IN THOUSANDS)

								% CHANGE
								IN LOCAL
THIRD QUARTER ENDED	APR. 30, 2007		APR. 30, 2006		% CHANGE			CURRENCY
Life Sciences
By Market:
Medical	$	121,934	$	112,737		8.2			4.4
BioPharmaceuticals		107,110		93,200		14.9			9.2
Total Life Sciences	$	229,044	$	205,937		11.2			6.6
By Geography:
Western Hemisphere	$	97,419	$	91,691		6.3			6.3
Europe		102,934		86,096		19.6			9.2
Asia		28,691		28,150		1.9			(0.4	)
Total Life Sciences	$	229,044	$	205,937		11.2			6.6
Industrial
By Market:
General Industrial (a)	$	193,231	$	176,043		9.8			4.9
Aerospace and Transportation (a)		62,417		58,524		6.7			1.7
Microelectronics		74,655		69,477		7.5			5.5
Total Industrial	$	330,303	$	304,044		8.6			4.4
By Geography:
Western Hemisphere	$	93,811	$	94,147		(0.4	)		(0.4	)
Europe		128,279		114,683		11.9			2.1
Asia		108,213		95,214		13.7			12.0
Total Industrial	$	330,303	$	304,044		8.6			4.4

(a) Certain prior year amounts have been reclassified to conform to the current year presentation.

PALL CORPORATION
SUPPLEMENTAL SEGMENT SALES INFORMATION BY MARKET AND GEOGRAPHY
(Unaudited)
(DOLLAR AMOUNTS IN THOUSANDS)

							% CHANGE
							IN LOCAL
NINE MONTHS ENDED	APR. 30, 2007		APR. 30, 2006		% CHANGE		CURRENCY
Life Sciences
By Market:
Medical	$	345,051	$	315,194		9.5		6.4
BioPharmaceuticals		288,930		247,557		16.7		11.8
Total Life Sciences	$	633,981	$	562,751		12.7		8.8
By Geography:
Western Hemisphere	$	271,056	$	254,107		6.7		6.6
Europe		282,855		231,724		22.1		13.2
Asia		80,070		76,920		4.1		2.8
Total Life Sciences	$	633,981	$	562,751		12.7		8.8
Industrial
By Market:
General Industrial (a)	$	565,279	$	501,590		12.7		8.4
Aerospace and Transportation (a)		183,484		170,223		7.8		3.9
Microelectronics		220,821		185,015		19.4		17.2
Total Industrial	$	969,584	$	856,828		13.2		9.4
By Geography:
Western Hemisphere	$	279,726	$	264,199		5.9		5.8
Europe		379,399		328,940		15.3		7.0
Asia		310,459		263,689		17.7		16.0
Total Industrial	$	969,584	$	856,828		13.2		9.4

(a) Certain prior year amounts have been reclassified to conform to the current year presentation.