Exhibit 20  NEWS FROM TAYLOR DEVICES,
INC.SHAREHOLDER LETTER, WINTER 2008--2009  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:
       ANNUAL MEETING Our Annual Meeting of Shareholders was
held on November 7, 2008  The total number of outstanding shares of Taylor
Devices' stock on the meeting record date was 3,170,746.  A total of
2,883,979 shares were present in person or by proxy at the meeting, representing
an excellent 91% Shareholder turnout. Results for Election of Directors and
term expiration dates: 2,684,930 Shares voted for the
election of Reginald B. Newman II, term to expire in 2011. The Shareholders also approved the 2008
Taylor Devices, Inc. Stock Option Plan. All of us at Taylor Devices, Inc. thank
you for your continued support. ITEM:
       FINANCIAL RESULTS Taylor Devices completed the second
quarter of its fiscal year on November 30, 2008.  Comparative financial
results for the first quarter, second quarter and six month periods are as
follows: FIRST
      QUARTER(8-31-08)
    F/Y
      08-09
    F/Y
      07-08SALES
    $4,803,502
    $4,408,185NET EARNINGS
    $148,652
    $348,230SHARES
    OUTSTANDING
    3,219,923
    3,153,107EARNINGS PER
      SHARE
    4¢
    11¢SECOND
      QUARTER(11-30-08)SALES
    $3,757,731
    $4,276,406NET EARNINGS
    $55,365
    $113,309SHARES
    OUTSTANDING
    3,220,525
    3,153,811EARNINGS PER
    SHARE
    2¢
    4¢  1    SIX MONTHS(11-30-08)
    F/Y
      08-09
    F/Y
      07-08SALES
    $8,561,233
    $8,684,591NET EARNINGS
    $204,017
    $461,539SHARES
    OUTSTANDING
    3,220,525
    3,153,811EARNINGS PER
    SHARE
    6¢
    15¢  The Company continues to perform well
with good shipment levels.  Shipping levels are down from the record levels
of last year, largely due to the current economic recession.  The
construction markets in the U.S. are well below last year's levels. 
Off-shore construction markets remain steady at present. Military and aerospace
product sales are increasing. Our firm order backlog is $10.1 million,
with a product mix divided approximately equally between commercial and
aerospace/military markets. ITEM:
       ANNUAL MEETING OF THE
SHAREHOLDERS The Company's annual Shareholders'
Meeting was held on November 7, 2008, at the Holiday Inn located in Amherst,
NY.  Reports were given at the meeting by several members of the executive
and management staff.  A brief summary of these reports follows: #Douglas P. Taylor, President, discussed overall
corporate performance in the record- setting 2008 fiscal year, but expressed
reservations about the present worldwide economic recession.  Mr. Taylor
emphasized that the Company's growth in the construction markets is strongly
affected by the ability of building owners and developers to obtain bank
financing.  He noted that in comparison, worldwide aerospace and military
sales are increasing.  A slide presentation was given on the successful use
of Taylor Devices' Modular Tuned Mass Dampers on the new Cumberland River
Pedestrian Bridge in Nashville, TN. #Seismic/Industrial Products Sales Managers
Bob Schneider and Craig Winters discussed new applications in the construction
markets.  A slide presentation was given on a damper retrofit for seismic
capacity improvements at the renowned Los Angeles Theme Building located at the
Los Angeles International Airport.  In addition, a pictorial review of
recent "signature" bridge projects in China was presented with all of the
bridges using Taylor Dampers for either seismic or wind-storm
protection. #Richard Hill, Vice President, discussed a recent
upgrade in the Company's internal manufacturing computer software to enhance
response times to meet customer order requirements.  He also announced that
Taylor Devices' current ISO 9001:2000 Quality Program is being upgraded to
comply with AS9100 Aerospace Quality Program requirements.  The Company's
goal is to obtain third party certification to AS9100 during 2009. AS9100 is part of a series of standards
based on ISO 9001:2000 International Quality Standards.  It was developed
by the International Aerospace Quality Group to provide international
consistency and specific regulatory, safety and reliability requirements
demanded by the aerospace market sector. # Mark McDonough, Chief
Financial Officer, provided an extensive overview of Taylor Devices' comparative
financial performance in 2008.  In addition, graphics were provided
detailing the Company's product sales by discrete product mix and geographic
locations of the customers.  2  ITEM:    NEW ORDER
ANNOUNCEMENTS, SEISMIC AND WIND In addition to the Theme Building
restoration at Los Angeles International Airport, the following new orders for
seismic dampers were announced at the 2008 Shareholder's Meeting: #California Transportation Management Center -- San
Bernardino, CA#U.S. Bureau of Land Reclamation Office Building --
Provo, UT#Hydrawaves Building -- Mexico#Kindom Jing-Ping Building -- Taiwan, ROC#Jiun-Yi Building -- Taiwan, ROC#Kwanfon Building -- Taiwan,
ROC#Meixihe River Bridge -- China#Watan Bridge -- South Korea#Sojung Grand Bridge -- South
Korea#Nam Gang Bridge -- South Korea#An Song Chun Bridge -- South Korea ITEM:    THE COMPANY
WINS MAJOR SHIP COMPONENTS CONTRACT IN EUROPE For the past several years Taylor Devices
has been participating in the development of shock and vibration control
equipment for a new class of warships being designed in Europe.  These
engineering efforts have now come to fruition with the receipt of the first
orders for actual hardware.  This first production contract is for a
multi-ship program and includes more than $1 million for Taylor's patented
Tension-Compression Isolators used to attenuate detonation of enemy weapons if
the ship is attacked.  The isolators will be installed to protect a large
equipment deck section inside the vessal. During the course of this program, Taylor
Devices has proposed products for three separate areas on the new warship, and
the order received reflects one of the three applications. ITEM:
       NATIONAL SCIENCE FOUNDATION RESEARCH
GRANT A team of five well-known research
universities and Taylor Devices have recently received a $1.6 million research
grant from the U.S. National Science Foundation.  The four-year program
will develop the world's next generation of seismic protection systems,
incorporating adaptive spring and damping components.  Previous research
attempted to utilize so-called active systems which would change their response
via electronic controls.  These proved very expensive, with electronic
reliability during a catastrophic earthquake being difficult to
achieve. In comparison, the adaptive components
developed under this program will be able to control the response of a building
during different types and levels of earthquakes without any external interface,
i.e. the spring and damping elements will include their own internal mechanical
logic and controls.  No electronics of any type will be used in the
adaptive components to insure maximum reliability. The research approach will be similar to
that used by the Company in the 1990's to introduce and test our original
seismic damper designs at SUNY-Buffalo.  In this approach, the university
researchers will define general concepts that will improve seismic performance
if a component were available to perform specific tasks during an
earthquake.  Taylor Devices' personnel will then determine which mechanical
components would be best suited to perform the stated tasks and design the
component to the point where its suitability for economic packaging within a
real structure can be determined.  Computational studies will be performed
by the university's researchers to see if the proposed component satisfies their
requirements.  If all analysis is successful, the component will then be
fabricated and tested on a scaled structure.  3  The research team is comprised of the
following organizations: Rice
University -- Texas       SUNY Buffalo -- New
York       Rensselaer Polytechnic -- New
York       UCLA --
California       CSU Fresno --
California       Taylor Devices -- the team's
industrial partner Earthquake test facilities at SUNY
Buffalo will be used to evaluate the new technology developed by the research
team.  The program has been named NEES-Adapt, and the project web site is
available on-line at: http://www.ruf.rice.edu/~dsg/   By: /s/Douglas P.
Taylor                                                                                       
Douglas P.
Taylor                                                                                       
President 4