Exhibit 20  NEWS FROM TAYLOR DEVICES,
INC.SHAREHOLDER LETTER, SPRING 2011 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, 2011.  Comparative, unaudited,
financial results for the third quarter and nine month periods are as
follows: THIRD
      QUARTER
    F/Y
      10-11
    
    F/Y
      09-10SALES
    $4,979,343
    
    $4,783,353NET INCOME
    $386,100
    
    $324,774EARNINGS PER
    SHARE
    124
    
    104NINE MONTHS
    F/Y
      10-11
    
    F/Y
      09-10SALES
    $13,781,168
    
    $13,285,823NET INCOME
    $693,713
    
    $1,147,461EARNINGS PER
    SHARE
    214
    
    364SHARES
      OUTSTANDING
    3,225,759
    
    3,223,903
       The Company continues to perform well in
2011, 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 at $13.6 million.  Aerospace and defense sales remain steady, but
at lower levels than 2010. Commercial and construction industry sales are
substantially increased from comparable 2010 level, more than offsetting the
decline in aerospace and defense sales. 1   ITEM:                
NEW ORDER ANNOUNCEMENTS ~ SEISMIC AND WIND Recent major earthquakes occurring
worldwide have given Taylor Devices' Seismic Dampers an expanding market. 
Engineers and building owners are now preparing for higher seismic capacity
requirements on both bridges and buildings.  This is expected to increase
the demand for Taylor Devices' products. The following new orders for seismic and
wind protection projects have been received since November 30, 2010: #STU Sistamas Building --
Santiago, Chili #Huaku V-Park Residences --
Taipei, Taiwan #Hsin-Lung Nan-Hai Building --
Taipei, Taiwan #Tongluo Exchange Building --
Taipei, Taiwan #WG Group Building -- Taipei,
Taiwan #Farglory H80 Building -- Taipei,
Taiwan #Farglory H73 Building -- Taipei,
Taiwan #Farglory H68 Building -- Taipei,
Taiwan #CAL Memorial Stadium --
Stockton, California #Mumbai Airport -- Mumbai,
India #Yuetai FengFan Building --
Taipei, Taiwan #TSMC Manufacturing Plant #15, P1
and P2 -- Taipei, Taiwan #Royal Canadian Mounted Police
Headquarters Building -- Richmond, BC Canada #Henley Street Bridge -- Mt.
Juliet, Tennessee #Taichung Manufacturing Facility,
P5 Building -- Taichung, Taiwan #Taichung Manufacturing Facility,
P6 Building -- Taichung, Taiwan #Nordstrom Department Store West
-- West Los Angeles, California  2   ITEM:       NEW ORDER ANNOUNCEMENTS ~
AEROSPACE AND DEFENSE #European Air Defense
System The Company has yet again received
follow-on orders for electronically controlled suspension system elements for
this missile program, presently in full scale development. In addition, the Company has received a
separate contract for a new component for this program.  The item Taylor
Devices will manufacture is a pneumatic spring-damper element used to rapidly
deploy the system's large radar antennas.  The initial order is fast
tracked due to immediate customer needs and funds development, prototype units,
qualification testing, and low rate initial production at one time. #U.S. Navy Elevator Isolation
Systems Navy aircraft carriers utilize multiple
large elevators to lift both aircraft and munitions from maintenance and storage
areas up to the aircraft flight deck.  Taylor Devices is manufacturing
compressible fluid spring-damper elements to isolate the elevator platforms
against various shock and vibration inputs. #Landing Gear for
Lighter-Than-Air Vehicle Several current development programs for
the U.S. Armed Forces are evaluating airships to be used for surveillance
purposes in war zones.  For this particular program, Taylor Devices will
develop and manufacture the landing gear system used on a prototype airship
vehicle, which will be subjected to an extensive test and evaluation
program.  Lighter-Than-Air vehicles have the ability to quietly operate
with large loads at various altitudes with only a small amount of fuel required
for propulsion. This program anticipates that numerous Lighter-Than-Air vehicles
can be used to complement existing remotely piloted aircraft to provide multiple
layers of surveillance of adversary activities. ITEM:       TAYLOR DEVICES' SEISMIC
PRODUCTS RECEIVE CE STAMP APPROVAL The Nations of the European Union have
recently adapted new requirements for seismic protection products that mandate
European certification before these products can be used in Europe.  Taylor
Devices has previously completed several projects in Europe, but in order to
receive new orders, the Company is required to obtain a new certification of
conformity to harmonized European Standard EN-15129.  The Company recently
has received certification to the new standard and will now be labeling seismic
products exported to Europe with what is termed a CE mark.  The CE mark is
essentially a manufacturer's declaration that the product complies with the
requirements of standard EN-15129.  The CE mark indicates to European
government officials that the product may be legally placed on the market in
their respective country.  Due to lack of suitable capacity testing
machines in Europe, all tests were performed at Taylor Devices.  The tests
were witnessed by representatives of the European Union Countries who then wrote
a formal test report for certification. 3  ITEM:       FACILITIES EXPANSION BEING
PLANNED Taylor Devices' sales potential for both
seismic and aerospace product lines continues to increase and this has been
evidenced by increasing total sales volume.  A potential expansion of the
Company's North Tonawanda, NY factory is in the planning stage.  This will
add additional manufacturing space and machines.  In addition, some
infrastructure changes will be needed to upgrade the existing site's electrical
service and improve area work flow throughout the manufacturing area.  The
planning effort is being performed by an outside architecture and engineering
firm, aided by the Industrial Engineering School and the Center for Industrial
Effectiveness at the State University of New York at Buffalo.  By:/s/ Douglas P. Taylor                                                                             
Douglas P.
Taylor                                                                             
President 4