Exhibit 20  NEWS FROM TAYLOR DEVICES,
INC.SHAREHOLDER LETTER, SPRING 2010  THIS NEWSLETTER IS DIRECTED TO ALL
SHAREHOLDERS OF TAYLOR DEVICES. WE HOPE THAT IT WILL GENERATE INTEREST IN THE
COMPANY, PLUS PROVIDE CURRENT FINANCIAL AND PROJECT INFORMATION.  COPIES OF
THIS NEWSLETTER WILL ALSO BE CIRCULATED TO SHAREHOLDERS WHO HAVE SHARES IN
BROKERAGE ACCOUNTS. ITEM:       FINANCIAL
RESULTS Taylor Devices completed the third
quarter of its fiscal year on February 28, 2010.  Comparative, unaudited,
financial results for the third quarter and nine month periods are as
follows: THIRD
      QUARTER
    F/Y
      09-10
    
    F/Y
      08-09SALES
    $4,783,353
    
    $3,718,629NET INCOME
    $324,774
    
    $31,346EARNINGS PER
    SHARE
    104
    
    14NINE
      MONTHS
    F/Y
      09-10
    
    F/Y
      08-09SALES
    $13,285,823
    
    $12,279,862NET INCOME
    $1,147,461
    
    $235,363EARNINGS PER
    SHARE
    364
    
    74SHARES
      OUTSTANDING
    3,223,903
    
    3,222,095 The Company continues to perform well in
2010, and a very good backlog of orders indicates the capability of continuing
this performance for the balance of the fiscal year.  Order backlog is
currently $13 million.  Aerospace and defense sales are strong, commercial
and construction industry sales are improving from 2009 levels.  1   ITEM:       MAJOR EARTHQUAKES IN HAITI AND
CHILE The Company has been receiving a near
continuous stream of new orders for seismic dampers during 2010.  Recent
major earthquakes in Haiti and Chile have demonstrated that seismic codes should
be elevated in anticipation of future events -- not just periodic updates to the
level of the most recent records.  This is especially true in areas of the
world that have not experienced a major earthquake in many years.  The
question that code writers must ask themselves is simply, "Has the lack of
historical activity been due to this not being an earthquake risk area, or is it
due to a locked fault that has been building up potential energy for many years
and is due to produce a huge quake?"  Until more accurate answers are
received to this question, events such as the mass destruction seen in the
aftermath of these two major earthquakes will continue. A second issue is the traditional code
approach that a structure be designed to "survive" a so-called 500 year event --
this being an earthquake for a given site that can be expected to occur once in
500 years.  Many owners take the approach that, "This is an extremely rare
event, so why should money be spent on it?"   The reality is that the
responsibility of the code writers and structural engineers is to make the
building owner aware of three elements inherent in this 500 year
specification: 1.   A 500 year quake means a
100% probability of occurring in a 500 year period.  It also means a 10%
probability that this quake will occur in the next 50 years.  Is this an
acceptable risk for all the funds you are spending on this
construction? 2.   The 500 year quake is
based more or less upon past historical records.  What if 499 years ago a
huge quake occurred that killed everyone who would be in a position to report on
the quake -- from a time before accurate seismic recording devices
existed? 3.   The codes take the general
approach that a structure should protect the occupants against total structural
collapse during a 500 year event.  In other words, the code protects life
safety.  But after the occupants have safely exited, the building itself
can be expected to be damaged beyond repair and will be a total loss.  Can
you accept this total investment loss? Some seismic codes are now stressing
performance based design, an approach that tries to make the building owner
fully aware of the three items listed above.   In addition, the owner
is provided with options for the building design, the least costly being life
safety only, the most costly being that the building and its equipment remain in
service undamaged by the quake.  The United States is the world leader in
the implementation of performance based codes, based largely upon inputs from
the State of California and the California Structural Engineering
community.  Sadly, many other nations lag well behind the United States in
the acceptance and adaptation of performance based building and bridge design
standards.  Perhaps in the aftermath of the quakes in Haiti and Chile,
there will be more worldwide acceptance of the USA's approach to solving
earthquake design problems.  2   ITEM:                
NEW ORDER ANNOUNCEMENTS ~ SEISMIC AND WIND The following new orders for seismic and
wind protection dampers were received in the quarter: #Taiwan Semi-Conductor
Manufacturing FAB 14 Building -- Taiwan, ROC #Adams Middle School -- Redondo
Beach, CA #Parras Middle School -- Redondo
Beach, CA #Chaparrel Middle School --
Diamond Bar, CA #Lien-Guan Nan-Gang Condominiums
-- Taiwan, ROC #Port Mann Bridge -- Coquitlam,
BC, Canada #Apollo Hospital -- New Delhi,
India #Hong Chiao Yong-Kang Residences
-- Taiwan, ROC #He Huan Residences -- Taiwan,
ROC  ITEM:       NEW ORDER ANNOUNCEMENTS ~
DEFENSE AND AEROSPACE Taylor Devices has received several
significant new orders for defense and aerospace products during the
quarter. #New European Missile Launch
System Our first contract on this fast-moving
program was previously announced in the Spring 2009 Newsletter with a
substantial follow-in order announced in the subsequent Winter 2009
Newsletter.  The Company is pleased to announce that these hi-tech
electronically controlled suspension system elements for the launch vehicle are
performing very well on test.  As a result, a second substantial follow-on
contract has just been received for an expedited delivery to our European
customers. #Landing Gears for Drone
Aircraft Over the past two years, the Company has
developed what is hoped will be the next generation of landing gears for the
small Remotely Piloted Vehicles (RPVs) commonly called drones.  These small
aircraft are actively engaged in combat in both the Middle East and Afghanistan,
usually for reconnaissance, directing missiles or launching missiles at specific
targets.  Although the aircraft are small, they have relatively severe
landing loads, sometimes with battle damage, yet ideally should require minimum
maintenance.  The Company's technical approach uses a technology never
before used on aircraft and which was originally developed for our highly
successful shock absorbing seats for naval personnel.  The end result is a
very rugged component requiring zero maintenance which often is much lighter
than competing technology.  The weight savings from using the Taylor
Devices' landing gear can then be used for more fuel, electronics, or more
weapons depending on customer needs.  3   The Company has recently received its
first order for production landing gears of this new design, and additional
orders are pending. #NASA Programs NASA is currently facing extreme budget
cuts and program changes in the currently proposed U.S. Budget.  Although
Taylor Devices is still providing our products in support of the Space Shuttle
Program and the new ARES Launch Vehicles, these programs may well end in the
next two years.  However, even with these programs facing funding problems,
there is still very much a need for space launch vehicles, both manned and
unmanned.  The Company's work on these so-called commercial launch vehicles
has been steadily growing.  Two major contracts recently received include
engine mounts for a large new vehicle's rocket motor, using our modular machined
spring elements.  The second major program is an isolation and control
system used to cushion a large unmanned satellite launch vehicle as it is
lowered onto its launch pad at a site exposed to high winds. In the event that
NASA ends its manned vehicle programs, the Company fully expects that these
commercial un-manned programs will increase in scope. Taylor Devices has been continuously
producing our products for the NASA manned space programs since the
mid-1960s.  It is impossible to list in a brief newsletter such as this all
the new concepts and technologies that the Company has developed over the past
45 years with primary funding from NASA.  In comparison, the Company's
benefit from these development projects pales in comparison with the technical
revolutions in electronics and materials that can be directly attributed to
technology spin-offs from NASA.  Hopefully the NASA manned programs will be
allowed to continue to enable future technologies to be developed rapidly,
without the cost constraints often placed upon research and development by
commercial business firms.  By:    /s/Douglas P.
Taylor                                                           
Douglas P.
Taylor                                                           
President  4