PALL CORPORATION AND THE NATIONAL BLOOD FOUNDATION ANNOUNCE ANNUAL AWARD FOR INNOVATIVE RESEARCH IN TRANSFUSION MEDICINE
IN MEMORY OF DAVID B. PALL

EAST HILLS, NY and BETHESDA, Md. Pall Corporation (NYSE: PLL) and the National Blood Foundation (NBF) today announced the establishment of the David B. Pall Prize for Innovative Research in Transfusion Medicine. The annual award of $10,000 will recognize an individual for innovation and creativity in research that may ultimately lead to improving transfusion medicine outcomes. The NBF, a program of AABB, will administer the prize program and host the presentation of the first award at a gala event during the AABB Annual Meeting and TXPO 2005, Oct. 15-18, 2005, in Seattle, Wash.

We are honored that Pall Corporation has chosen the NBF to administer the David B. Pall Prize, said Marc Pearce, division director, NBF. This award pays tribute to Dr. Palls important contributions in transfusion medicine and, I hope, will inspire innovation and creativity among new researchers to advance transfusion medicine and cellular therapy that benefits both patients and donors.

This award acknowledges the important role that new researchers play in carrying out the legacy of innovation Dr. Pall created in transfusion medicine," said Eric Krasnoff, chairman and CEO of Pall Corporation. We are all fortunate to reap the benefits of the genius of his work materially improving health and safety throughout the world.

David B. Pall, founder of Pall Corporation in 1946, passed away on Sept. 21, 2004. He was the scientific driving force behind Pall Corporations early growth into a global company. He retired from the company in 1992.

Dr. Pall was a leading innovator in blood safety technologies including the development of leukocyte reduction filtration, which is a standard of care in transfusion medicine worldwide. He was the named inventor on 181 U.S. patents. His inventions spanned many fields and lead to important advances in such diverse fields as aerospace, drug production and blood banking. A remarkable number of his inventions are indispensable products in everyday use. In 1990, Dr. Pall was awarded the National Medal of Technology, the United States' highest honor in technology. The medal recognizes exceptional contributions to the well being of the nation through technological innovation and commercialization.

The Scientific Grants Review Committee of the NBF will make the selection of the David B. Pall Prize winner each year. The research will be evaluated equally upon the innovation and creativity exhibited and the practical impact it will have on patient outcomes in transfusion medicine. Candidates to be considered for the prize will be researchers who completed their research under the NBF Scientific Research Grants Program within the twelve months prior to the granting of the award. The NBF awards one- and two-year grants of up to $50,000 to early-career investigators each year and has awarded more than $3.3 million in grants to 118 scientific investigators since 1985. Recipients need not be members of AABB. For information on how to apply for a NBF Scientific Research Grant, contact Meredith Davis, +1.301.215.6513 or nbf@aabb.org.

About NBF

National Blood Foundation (NBF), established in 1983, has a history of supporting research and education that advances transfusion medicine and blood banking to benefit both patients and donors. Funds are raised annually from corporations, blood centers, foundations and individuals. NBF, a program of AABB, provides grants for scientific research in the fields of transfusion medicine and blood banking, and supports education initiatives that benefit the transfusion medicine community. Visit http://www.aabb.org/about_the_aabb/nbf/nbf2.htm .

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: Life Sciences and Industrial. The Company provides leading-edge products to meet the demanding needs of customers in biotechnology, pharmaceutical, transfusion medicine, semiconductor, water purification, aerospace and broad industrial markets. Total revenues are $1.8 billion. The Company headquarters are in East Hills, New York with extensive operations throughout the world. Visit Pall at www.pall.com.