Exhibit 20  NEWS FROM TAYLOR DEVICES, INC.SHAREHOLDER LETTER, WINTER
2010-2011  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:         ANNUAL
MEETING Our Annual Meeting of Shareholders was held on November 5,
2010.  The total number of outstanding shares of Taylor Devices' stock on
the meeting record date was 3,230,968.  A total of 2,815,401 shares were
present in person or by proxy at the meeting, representing 87% shareholder
turnout. Results for Election of Directors and term expiration
dates: 1,389,996 shares voted for the election of Douglas P. Taylor, term to
expire in
2013.           
1,381,783 shares voted for the election of Randall L. Clark, term to
expire in
2013.           
2,697,936 shares voted to ratify the selection of Lumsden & McCormick, LLP
as the Independent Registered Public Accounting Firm of the Company for the
fiscal year 2011. All of us at Taylor Devices, Inc. thank you for your continued
support in these difficult economic times. ITEM:         FINANCIAL
RESULTS Taylor Devices completed the second quarter of its fiscal year
on November 30, 2009.  Comparative financial results for the first quarter,
second quarter and six month periods are as follows: FIRST QUARTER(8-31-10)
    F/Y 10-11
    
    F/Y 09-10SALES
    $4,276,823
    
    $5,013,673NET EARNINGS
    $184,638
    
    $320,797SHARES OUTSTANDING
    3,230,965
    
    3,222,329EARNINGS PER SHARE
    6¢
    
    10¢SECOND QUARTER(11-30-10)
    F/Y 10-11
    
    F/Y 09-10SALES
    $4,525,002
    
    $3,488,797NET EARNINGS
    $122,975
    
    $501,891SHARES OUTSTANDING
    3,229,971
    
    3,223,153EARNINGS PER SHARE
    4¢
    
    16¢ 1   SIX MONTHS(11-30-10)
    F/Y 10-11
    
    F/Y 09-10SALES
    $8,801,825
    
    $8,502,470NET EARNINGS
    $307,613
    
    $822,688SHARES OUTSTANDING
    3,229,971
    
    3,223,153EARNINGS PER SHARE
    10¢
    
    26¢ The Company continues to perform well.  Profit levels in
this fiscal year are lower than the same period in the previous year.  This
appears to be due to a shift in backlog and shipping volumes towards more
seismic products and less aerospace as compared to the previous year.  Most
of the Company's new orders for seismic products are coming from Asia, while the
U.S. construction markets remain in recession.  Over the past six months,
aerospace sector markets in the U.S. have also declined from 2009, indicating
reduced U.S. government spending on aerospace and military projects, but export
aerospace sales are increasing. Our firm order backlog is $13.0 million, with a product mix of
approximately 50% aerospace/military and 50% commercial orders. ITEM:         ANNUAL
MEETING OF THE SHAREHOLDERS The Company's annual Shareholders' Meeting was held on November
5, 2010, at the Buffalo Marriott Niagara 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, showed attendees a draft of a
  new video presentation being produced in California.  The video
  highlights the retrofit of the LAX Theme Building that was featured in our
  recent Annual Report.  The video's sponsors hope to obtain regional and
  national television exposure for this project when the video is
  finalized.  Taylor Devices' dampers are featured in the video.  Mr.
  Taylor also noted that the year 2010 marks Taylor Devices' 55th
  year of business; he then showed photographs from the Company archives
  depicting the facilities and products from the period 1955 to
  1960.Bob Schneider and Craig Winters, Seismic/Industrial Products
  Sales Managers, discussed the general market conditions for commercial
  products during the recession.  In general, sales of these products were
  reduced in 2010 to 15% below 2009 levels.  The exception to this is
  Taylor Devices' export shipments to Asia, which are increasing.  Short
  presentations were given on several new projects, including the Deh Cho Bridge
  in Canada's Northwest Territories, BC Place Stadium in Canada's British
  Columbia, the Xiazhang Bridge in China, the Port Mann Bridge in British
  Columbia, and the Pinnacle Tower in London, England.Alan Klembczyk, Chief Engineer, discussed Taylor Devices'
  aerospace and defense sales for 2010.  Important new projects include
  launcher suspension elements for a new European air defense missile, rocket
  engine mounts for commercial space launch vehicles, and landing gear for drone
  aircraft used by the U.S. Military.Richard Hill, Vice President, discussed the
  Company's initiative to obtain certification to ISO 14001 Environmental
  Management Standards, a specification that Taylor Devices has found to be a
  new requirement on contracts received from both Europe and Asia.  Mr.
  Hill also provided information on future facility expansions being considered
  by the Company at its North Tonawanda site. 2   Mark McDonough, Chief Financial Officer, provided extensive
  comparative financial information showing changes in the Company's product mix
  over the past two years.  In general, Taylor Devices has performed well
  through the U.S. recession by adapting to changes in world
  markets. For 2010, export sales as a percentage
of total sales increased as did aerospace and defense industry sales, leading to
increased sales for the 2010 fiscal year.  At the same time, the Company's
debt and interest expense have decreased significantly.  All of these items
combined with internal cost constraints lead to a substantial increase in
operating income for 2010 compared to the prior year. ITEM:     NEW ORDERS, SEISMIC AND
WIND The following new orders for Seismic and Wind Control Dampers
were announced at the November 5, 2010 Annual Meeting of
Shareholders: BC Place -Vancouver, BC, CanadaNewton Reservoir -Vancouver, BC, CanadaFujian Wulongjiang Bridge -ChinaFu Yu Project -Taiwan, ROCTSMC #12P3 Project -Taiwan, ROC The following new orders were also received during the quarter
ending November 30, 2010: Xianzhang Bridge -ChinaNanguo Condominiums -Taiwan, ROCDeh Cho Bridge -Northwest Territories, CanadaHuaku Jin-Lin A and B Buildings -Taiwan, ROCWuhan Poly Building - China ITEM:     NEW ORDERS, AEROSPACE AND
DEFENSE European Air Defense System The Company has again received
follow-on orders for electronically controlled suspension system elements for
this missile program, which is presently in full-scale development. U.S. Navy Missile Programs The Company has received follow-on
contracts for 36 sets of isolators for the latest variants of the U.S. Navy's
standard missile used on surface ships. Gun Recoil Systems Taylor Devices has received
substantial additional orders for its recoil shock absorbers used on both heavy
machine guns and automatic grenade launchers for the U.S. Army, Navy, and Marine
Corps. 3   ITEM:         TAYLOR
DEVICES WINS QUALITY AWARD Lockheed Martin Aeronautics Company has recognized Taylor
Devices for having a perfect 100% quality performance rating for all shipments
to Lockheed Martin over the past 12 months.  The award was made in November
during Lockheed's "Quality Month 2010" activities.   By: Douglas P.
Taylor                                                                                                                                                
Douglas P.
Taylor                                                                                                                                               
President 4