Pall Wins $11 Million Contract for Australian Magnesium's Stanwell Plant

    EAST HILLS, N.Y.--Jan. 16, 2003--Pall Corporation announced that it has been awarded an $11 million contract by Leighton Contractors Pty Ltd to provide several high temperature filter systems for a new magnesium production facility currently being built for Australian Magnesium Corporation Ltd's (AMC) Stanwell Magnesium Project.
    The magnesium plant will be the world's largest plant, producing 97,000 tons per annum of magnesium and alloys.
    Pall will supply custom-designed, fully automated, hot gas filter systems for AMC's proprietary AM Process.
    AMC's Stanwell Magnesium Project is designed to operate very efficiently with a low environmental profile. Pall's blowback filtration technologies will play a key role in the AM Process providing a reliable and extremely efficient method to recover magnesium chloride fines from high temperature fluidized bed calciner exhaust gas and will allow the recovery of the cleaned exhaust gas for re-use. The high temperature automatic self-cleaning filter systems will also provide a high degree of protection for downstream equipment.
    Pall's blowback filter technology was selected due to its robust design, proven compatibility in the process conditions, and over 40 years of experience in similar critical filtration applications in chemical, refining, petrochemical and advanced power generation industries.
    "After a worldwide search for the optimum filtration solution and an extensive evaluation process, AMC was pleased to select Pall," said Dr. Greg Sheehan, AMC Process Manager. "Applying Pall's proven high temperature filtration technologies in our process will help give AMC the reliability we need to produce magnesium in a cost effective way."
    "We are delighted to work with Leighton Contractors and AMC on the world class Stanwell Magnesium Project," said Bill Palmer, Pall Corporation Senior Vice President. "The expansion of our technology platform from the FSG acquisition assisted Pall to provide Leighton Contractors/AMC with exactly the right products to meet AMC's specific high temperature filtration requirements."
    The demand for magnesium metal has been growing significantly over the past ten years and is expected to double to 780,000 tons per annum by the year 2009. This growth is driven primarily by the automotive industry for lighter and stronger materials to enable greater fuel efficiency and help reduce greenhouse gas emissions.

    About Pall Corporation:

    Pall Corporation is the global leader in the rapidly growing field of filtration, separations and purification. Pall's business is organized around two broad markets: Industrial and Life Sciences. The Company provides leading-edge products to meet the demanding needs of customers in the chemical, mineral processing, oil & gas, refining, petrochemical, biotechnology, pharmaceuticals, transfusion medicine, semiconductors, municipal drinking water and aerospace. Total revenues are $1.3 billion. The company is headquartered in East Hills, New York, and has operations in more than 30 countries. Further information can be found on its Web site http://www.pall.com.

    This release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current Company expectations and are subject to risks and uncertainties, which could cause actual results to differ materially. Such risks and uncertainties include, but are not limited to: fluctuations in foreign currency exchange rates; regulatory approval and market acceptance of new technologies; changes in product mix and product pricing and in interest rates and cost of raw materials; the Company's success in enforcing its patents and protecting its proprietary products and manufacturing techniques and in integrating the operations of FSG into the Company's existing business; global and regional economic conditions and legislative, regulatory and political developments; and domestic and international competition in the Company's global markets. Additional information regarding these and other factors is available on the web at http://www.pall.com and is included in the Company's reports filed with the U.S. Securities and Exchange Commission. Copies of such reports can be obtained, without charge, at: http://www.sec.gov.

    For More Information:

    Please visit our website at: http://www.pall.com.
    For more information on Pall Corporation's blowback technologies, visit http://www.pall.com/applicat/hcp/blowback.asp
    For more information on the Stanwell Magnesium Project and AMC visit http://www.austmg.com