Exhibit 99

Pall Corporation Fourth Quarter Sales Up 11.9%
Full Year Sales Increase 14.3%

East Hills, NY (September 15, 2008) — Pall Corporation (NYSE: PLL) today reported sales and earnings for the fourth quarter and year ended July 31, 2008.

Sales and Earnings Overview

Fourth quarter sales grew to $723.2 million, an 11.9% increase over the fourth quarter of fiscal 2007. Diluted earnings per share (“EPS”) were $0.57, up from $0.13 a year earlier. Net earnings were $69.9 million, compared to $16.8 million. Pro forma EPS, excluding restructuring and other charges, were $0.61 versus last year’s $0.46, an increase of 32.6%.

For the full fiscal year ended July 31, 2008, sales were $2.6 billion, a 14.3% increase over fiscal year 2007. Net earnings were $217.3 million compared to $127.5 million. Diluted EPS were $1.76, up from $1.02 and pro forma EPS, excluding restructuring and other charges, were $1.97 versus $1.48, an increase of 33.1%.

Sales in local currency (“LC”) increased $30.4 million, or 4.7%, in the quarter, and $162.6 million, or 7.2%, for the year. Foreign currency translation increased reported sales by $46.5 million or 7.2%, for the quarter, and $159.1 million, or 7.1%, for the year. The impact of foreign currency translation added approximately $0.05 to EPS in the quarter and $0.14 for the year.

Eric Krasnoff, Chairman and CEO, stated, “Pall has again successfully executed on its strategic plan. We also exceeded sales and earnings expectations for the year. Sales growth in the quarter was again broad-based and across many markets. Geographically, the highest growth came from Asia. Strong sales throughout the year combined with cost reduction and process improvement initiatives resulted in an operating margin of 15.2%, an 80 basis point improvement.”

Industrial — Fourth Quarter Highlights

(Dollar Amounts in Thousands)

Sales:	JULY 31, 2008		% CHANGE		% CHANGE IN LC
Energy, Water & Process Technologies (a)	$	288,344		12.3		4.0
Aerospace & Transportation		90,156		26.6		20.9
Microelectronics		81,570		12.9		5.6
Total Industrial segment	$	460,070		15.0		7.3

			% OF SALES
Gross profit	$	202,662		44.1
Operating profit	$	79,154		17.2

(a) Formerly General Industrial.

Starting with this quarter, the General Industrial market has been renamed Energy, Water & Process Technologies (“EWPT”). This new moniker better reflects its market focus. For the quarter, EWPT grew 4% overall, with systems sales down 2.5%. EWPT systems sales grew 16.4% for the full year.

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In Aerospace & Transportation, Commercial Aerospace sales grew 20.1% in the quarter. This was fueled by strong after-market demand and increased sales to regional and business airframe manufacturers. Military sales increased 17.2% led by the U.S.

Microelectronics sales were up 5.6%. Increasing production of solar cells and strength in the display and thin-film rigid disc markets contributed. Western Hemisphere results reflect the semiconductor market cyclical downturn.

Operating profit increased in the quarter 16.1% to $79.2 million while operating profit margin improved to 17.2%.

Life Sciences — Fourth Quarter Highlights

(Dollar Amounts in Thousands)

Sales:	JULY 31, 2008		% CHANGE		% CHANGE IN LC
Medical	$	131,794		1.1		(3.2	)
BioPharmaceuticals		131,347		13.3		4.6
Total Life Sciences segment	$	263,141		6.9		0.5

			% OF SALES
Gross profit	$	135,615		51.5
Operating profit	$	53,910		20.5

Within Life Sciences, BioPharmaceuticals sales increased 4.6% in the quarter, and 10.8% for the full year. Pall continues to win business for new drugs and factories as evidenced by the 41.1% increase in systems sales in the year. The Company is also benefitting from increased production of biotechnology drugs and vaccines. The recent acquisition of GeneSystems further expands Pall’s capabilities in the biopharmaceuticals, medical, food and water safety markets.

Medical sales decreased 3.2% in the quarter, reflecting lower Blood Filtration sales in the Western Hemisphere. Improved pricing provided some offset.

Operating profit for Life Sciences increased in the quarter 10.2% to $53.9 million. The effect of price increases and favorable product and market mix improved operating margins to 20.5%.

Conclusion/Outlook

Mr. Krasnoff concluded, “Pall Corporation has turned in another solid year of sales and earnings growth. In 2009, we expect pro forma EPS to be in the range of $2.15 to $2.30. Pall is well positioned and capitalizing on growing global demand for fluid management technologies and services. We look forward to presenting Pall’s new five-year strategic plan at our Investor Day on October 29, 2008.”

Conference Call

On Tuesday, September 16, 2008, at 8:30 am ET, Pall Corporation will host a conference call to review these results. The call will be webcast and individuals can access it at www.pall.com/investor. Listening to the webcast requires audio speakers and Microsoft Windows Media Player software. The webcast will be archived for 30 days.

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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, water purification, aerospace, transportation and broad industrial markets. Total revenues for fiscal year 2008 were $2.6 billion. The Company is headquartered in East Hills, New York and has extensive operations around the world. For more information visit Pall at http://www.pall.com.

Forward-Looking Statements

The matters discussed in this release contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Results for 2008 are preliminary until the Company’s Form 10-K is filed with the Securities and Exchange Commission on or before September 29, 2008.

Forward-looking statements contained in this release and in the Company’s 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, management’s expectations about its future cash needs and effective tax rate, and other future events or developments are forward-looking statements. In some cases forward looking statements can be identified by the use of terms such as “anticipate”, “should”, “believe”, “estimate”, “expect”, “intend”, “plan”, “predict”, “potential”, or other similar expressions concerning matters that are not historical facts. Such risks and uncertainties include, but are not limited to: risks relating to the Company’s restatement of prior period financial statements, including the risks associated with the pending IRS audit and pending SEC and Department of Justice investigations and litigation proceedings; risks associated with the Company’s planned cash management initiatives, which may result in changes in the Company’s effective tax rate; changes in product mix and product pricing may affect the Company’s operating results particularly as the systems business expands in which significantly longer sales cycles are experienced with less predictable revenue and profitability and less 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 its cost reduction and margin improvement initiatives including the timing of completion of its facilities rationalization initiative; fluctuations in foreign currency exchange rates and interest rates; regulatory approval or market acceptance of new technologies; changes in demand for the Company’s products and business relationships with key customers and suppliers including delays or cancellations in shipments; success in enforcing patents and protecting proprietary products and manufacturing techniques; risks associated with the completion or integration of acquisitions; domestic and international competition; and global and regional economic conditions, including particularly the impact of current challenging conditions in the United States that may also have global implications; and legislative, regulatory and political developments. The Company makes these statements as of the date of this disclosure and expressly disclaims any obligation to update them. You should carefully consider these factors as well as the additional risk factors outlined in more detail in our most recent Annual Report on Form 10-K under Item 1A, Risk Factors, and in other filings the Company makes with the Securities and Exchange Commission.

Management uses certain non-GAAP measurements to assess the Company’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 the Company’s financial position and results of operations. The Company 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.

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PALL CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Amounts in Thousands)

	JULY 31, 2008		JULY 31, 2007
Assets:
Cash and cash equivalents	$	454,065	$	443,036
Accounts receivable		617,079		551,393
Inventories		492,977		471,467
Other current assets		95,518		140,481
Total current assets		1,659,639		1,606,377
Property, plant and equipment, net		662,985		607,900
Other assets		634,122		494,569
Total assets	$	2,956,746	$	2,708,846
Liabilities and Stockholders’ Equity:
Short-term debt	$	29,314	$	41,720
Accounts payable, income taxes and other current liabilities		544,649		790,470
Total current liabilities		573,963		832,190
Long-term debt		747,051		591,591
Deferred taxes and other non-current liabilities		496,497		224,464
Total liabilities		1,817,511		1,648,245
Stockholders’ equity		1,139,235		1,060,601
Total liabilities and stockholders’ equity	$	2,956,746	$	2,708,846

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

	FOURTH QUARTER ENDED						YEAR ENDED
	JULY 31, 2008			JULY 31, 2007			JULY 31, 2008			JULY 31, 2007
Net sales	$	723,211		$	646,340		$	2,571,645		$	2,249,905
Cost of sales		384,934			344,246	(b)		1,360,810			1,190,549	(b)
Gross profit		338,277			302,094			1,210,835			1,059,356
% of sales		46.8	%		46.7	%		47.1	%		47.1	%
Selling, general and administrative expenses		204,202			181,750			749,519			675,005
Research and development		18,123			17,247			71,647			62,414
Earnings before restructuring and other charges/(gains), net (“ROTC”), interest expense, net, and income taxes		115,952			103,097			389,669			321,937
ROTC		3,415	(a)		292	(b)		31,538	(a)		22,352	(b)
Interest expense, net		6,848			9,430			32,576			39,056
Earnings before income taxes		105,689			93,375			325,555			260,529
Provision for income taxes		35,774	(a)		76,597	(b)		108,276	(a)		133,032	(b)
Net earnings	$	69,915		$	16,778		$	217,279		$	127,497
Earnings per share:
Basic	$	0.58		$	0.14		$	1.77		$	1.04
Diluted	$	0.57		$	0.13		$	1.76		$	1.02
Average shares outstanding:
Basic		120,550			123,114			122,445			123,115
Diluted		121,908			124,551			123,686			124,393
Net earnings as reported	$	69,915		$	16,778		$	217,279		$	127,497
ROTC and one-time purchase accounting adjustment, after pro forma tax effect		2,325	(a)		462	(b)		21,414	(a)		16,599	(b)
Tax adjustments		2,436	(a)		39,993	(b)		4,871	(a)		39,993	(b)
Pro forma earnings	$	74,676		$	57,233		$	243,564		$	184,089
Diluted earnings per share as reported	$	0.57		$	0.13		$	1.76		$	1.02
ROTC and one-time purchase accounting adjustment, after pro forma tax effect		0.02	(a)		0.01	(b)		0.17	(a)		0.14	(b)
Tax adjustments		0.02	(a)		0.32	(b)		0.04	(a)		0.32	(b)
Pro forma diluted earnings per share	$	0.61		$	0.46		$	1.97		$	1.48

(a)	ROTC in the quarter and year includes charges of $2,436 (1 cent per share, after pro forma tax effect) and $12,457 (7 cents per share, after pro forma tax effect), respectively, primarily comprised of severance and other costs related to the Company’s cost reduction programs, including its facilities rationalization initiative. ROTC in the quarter and year also includes $979 (1 cent per share, after pro forma tax effect) and $19,081 (10 cents per share, after pro forma tax effect) primarily comprised of legal and other professional fees related to the previously reported matters under inquiry by the audit committee of the Company’s board of directors.
	Provision for income taxes includes a charge of $2,436 (2 cents per share) in the quarter and year ended July 31, 2008 related to an adjustment to the net tax cost of the anticipated repatriation of approximately $160 million of foreign earnings and a charge of $2,435 (2 cents per share) in the year ended July 31, 2008 resulting from newly enacted tax legislation in a foreign tax jurisdiction. Pro forma earnings exclude these items as it is deemed to be non-recurring in nature.
(b)	Cost of sales includes income of $148 in the quarter and charges of $2,745 (2 cents after pro for a tax effect) in the year primarily comprised of incremental depreciation and other adjustments recorded primarily in conjunction with the Company’s facilities rationalization initiative.
	ROTC in the quarter includes charges of $292 (1 cent 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, partly offset by income from a legal settlement and income from an insurance recovery related to an environmental matter. ROTC in the year were $22,352 (12 cents per share, after pro forma tax effect) primarily comprised of severance costs, other exit costs and an impairment charge on certain long-lived assets partly offset by a gain on the sale of a facility and income from legal settlements. In addition, the year includes a charge related to environmental matters, net of insurance recoveries.
	Provision for income taxes in the quarter and year includes a charge of $39,993 (32 cents per share) for the net tax cost of the anticipated repatriation of approximately $160 million of foreign earnings which had previously been asserted to be indefinitely reinvested and a change in estimate in fiscal year 2007 of certain income tax reserves. Pro forma earnings exclude these items as they are deemed to be non-recurring in nature.

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PALL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW
(Unaudited)
(Amounts in Thousands)

	YEAR ENDED
	JULY 31, 2008			JULY 31, 2007
Net cash provided by operating activities	$	190,806		$	332,928
Investing activities:
Disposals of long-lived assets		10,137			47,734
Capital expenditures		(123,854	)		(97,763	)
Other		(7,970	)		(5,398	)
Net cash used by investing activities		(121,687	)		(55,427	)
Financing activities:
Dividends paid		(59,945	)		(56,228	)
Notes payable and long-term borrowings		112,245			(91,965	)
Purchase of treasury stock		(148,850	)		(61,795	)
Other		20,209			47,540
Net cash used by financing activities		(76,341	)		(162,448	)
Cash flow for period		(7,222	)		115,053
Cash and cash equivalents at beginning of year		443,036			317,657
Effect of exchange rate changes on cash		18,251			10,326
Cash and cash equivalents at end of period	$	454,065		$	443,036
Free cash flow:
Net cash provided by operating activities	$	190,806		$	332,928
Less capital expenditures		123,854			97,763
Free cash flow	$	66,952		$	235,165

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PALL CORPORATION
SUMMARY OPERATING PROFIT BY SEGMENT
(Unaudited)
(Dollar Amounts in Thousands)

	FOURTH QUARTER ENDED						YEAR ENDED
	JULY 31, 2008			JULY 31, 2007			JULY 31, 2008			JULY 31, 2007
Industrial
Sales	$	460,070		$	400,134		$	1,596,414		$	1,369,718
Cost of sales (a)		257,408			222,895			887,512			755,614
Gross profit		202,662			177,239			708,902			614,104
% of sales		44.1	%		44.3	%		44.4	%		44.8	%
Selling, general and administrative expenses		116,349			101,598			432,326			381,436
Research and development		7,159			7,435			30,721			28,554
Operating profit	$	79,154		$	68,206		$	245,855		$	204,114
% of sales		17.2	%		17.0	%		15.4	%		14.9	%
Life Sciences
Sales	$	263,141		$	246,206		$	975,231		$	880,187
Cost of sales (a)		127,526			121,499			473,298			432,190
Gross profit		135,615			124,707			501,933			447,997
% of sales		51.5	%		50.7	%		51.5	%		50.9	%
Selling, general and administrative expenses		70,741			65,954			263,233			248,851
Research and development		10,964			9,812			40,926			33,860
Operating profit	$	53,910		$	48,941		$	197,774		$	165,286
% of sales		20.5	%		19.9	%		20.3	%		18.8	%
CONSOLIDATED:
Operating profit	$	133,064		$	117,147		$	443,629		$	369,400
General corporate expenses		17,112			14,198			53,960			44,718
Earnings before ROTC, interest and income taxes		115,952			102,949			389,669			324,682
ROTC (a)		3,415			144			31,538			25,097
Interest expense, net		6,848			9,430			32,576			39,056
Earnings before income taxes	$	105,689		$	93,375		$	325,555		$	260,529

(a) Included in ROTC for the purpose of evaluation of segment profitability are incremental depreciation and other adjustments recorded in cost of sales of $148 and $2,745 in the quarter and year ended July 31, 2007, respectively, primarily recorded in conjunction with the Company’s facilities rationalization initiative.

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PALL CORPORATION
SUPPLEMENTAL SEGMENT SALES INFORMATION BY MARKET AND GEOGRAPHY
(Unaudited)
(Dollar Amounts in Thousands)

								EXCHANGE		% CHANGE
								RATE		IN LOCAL
FOURTH QUARTER ENDED	JULY 31, 2008		JULY 31, 2007		% CHANGE			IMPACT		CURRENCY
					|--- --- ---- ---- ---Increase/(Decrease)- --- ---- ---- --- --|
Industrial
By Market:
Energy, Water & Process Technologies (a)	$	288,344	$	256,678		12.3		$	21,349		4.0
Aerospace & Transportation		90,156		71,191		26.6			4,100		20.9
Microelectronics		81,570		72,265		12.9			5,257		5.6
Total Industrial	$	460,070	$	400,134		15.0		$	30,706		7.3
By Geography:
Western Hemisphere	$	126,538	$	118,702		6.6		$	675		6.0
Europe		185,077		156,695		18.1			19,445		5.7
Asia		148,455		124,737		19.0			10,586		10.5
Total Industrial	$	460,070	$	400,134		15.0		$	30,706		7.3
Life Sciences
By Market:
Medical	$	131,794	$	130,318		1.1		$	5,606		(3.2	)
BioPharmaceuticals		131,347		115,888		13.3			10,181		4.6
Total Life Sciences	$	263,141	$	246,206		6.9		$	15,787		0.5
By Geography:
Western Hemisphere	$	101,305	$	106,245		(4.7	)	$	235		(4.9	)
Europe		125,889		108,645		15.9			13,039		3.9
Asia		35,947		31,316		14.8			2,513		6.8
Total Life Sciences	$	263,141	$	246,206		6.9		$	15,787		0.5

(a) Formerly General Industrial.

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PALL CORPORATION
SUPPLEMENTAL SEGMENT SALES INFORMATION BY MARKET AND GEOGRAPHY
(Unaudited)
(Dollar Amounts in Thousands)

							EXCHANGE		% CHANGE
							RATE		IN LOCAL
YEAR ENDED	JULY 31, 2008		JULY 31, 2007		% CHANGE		IMPACT		CURRENCY
					|--- --- ---- ---- ---Increase/(Decrease)- --- ---- ---- --- --|
Industrial
By Market:
Energy, Water & Process Technologies (a)	$	981,291	$	821,957		19.4	$	72,644		10.6
Aerospace & Transportation		306,571		254,675		20.4		14,498		14.7
Microelectronics		308,552		293,086		5.3		16,438		(0.3	)
Total Industrial	$	1,596,414	$	1,369,718		16.6	$	103,580		9.0
By Geography:
Western Hemisphere	$	431,068	$	398,428		8.2	$	3,297		7.4
Europe		637,533		536,094		18.9		64,388		6.9
Asia		527,813		435,196		21.3		35,895		13.0
Total Industrial	$	1,596,414	$	1,369,718		16.6	$	103,580		9.0
Life Sciences
By Market:
Medical	$	491,798	$	475,369		3.5	$	20,483		(0.9	)
BioPharmaceuticals		483,433		404,818		19.4		35,071		10.8
Total Life Sciences	$	975,231	$	880,187		10.8	$	55,554		4.5
By Geography:
Western Hemisphere	$	379,591	$	377,301		0.6	$	1,432		0.2
Europe		469,450		391,500		19.9		44,905		8.4
Asia		126,190		111,386		13.3		9,217		5.0
Total Life Sciences	$	975,231	$	880,187		10.8	$	55,554		4.5

(a) Formerly General Industrial.

Contact:
Pall Corporation
Patricia Iannucci
V.P. Investor Relations & Corporate Communications
Telephone: 516-801-9848
Email: piannucci@pall.com

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