----

|   | WASHINGTON,      D.C. 20549 |
|--------|-----------------------------|

| FORM      10-K |
|----------------|

| [  X  ]  ANNUAL      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|---------------------------------------------------------------------------------------------------------------------------------------|

| or |
|----|

| [       ]  TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Pennsylvania                                  |   | 23-1683282               |
|-----------------------------------------------|--------|--------------------------|
| (State      or other jurisdiction of          |   | (I.R.S.      Employer    |
| incorporation      or organization)           |   | Identification      No.) |
|                                          |   |                     |
| 160      Cassell Road, P. O. Box 144          |   |                     |
| Harleysville,      Pennsylvania               |   | 19438                    |
| (Address      of principal executive offices) |   | (Zip      Code)          |

|                                          |   | Name      of each exchange on |
|-----------------------------------------------|--------|-------------------------------|
| Title of each class                           |   | which registered              |
| Common      Shares, par value $0.10 per share |   | New      York StockExchange   |

| Common      Shares, par value $0.10 per share |   |   |
|-----------------------------------------------|--------|--------|
| (Title      of Class)                         |   |   |

|                                                                                                           | Form      10-K |
|----------------------------------------------------------------------------------------------------------------|----------------|
|                                                                                                           | Part Number    |
| Portions      of Registrant’s Definitive Proxy Statement filed pursuant to Regulation      14A           |           |
| in      connection with Registrant’s Annual Meeting of Shareholders to be held on      June 3, 2009 | III            |

----

----

Index

|          |          |   |                                                                                                                        | Page   |
|---------------|---------------|--------|-----------------------------------------------------------------------------------------------------------------------------|--------|
|          |          |   |                                                                                                                        |   |   |
| PART      I   |          |   |                                                                                                                        |   |
|          | Item      1.  |   | Business                                                                                                                    | 1      |   |
|          |          |   | Executive Officers of the      Registrant                                                                                   | 7      |   |
|          | Item      1A. |   | Risk Factors                                                                                                                | 8      |   |
|          | Item      1B. |   | Unresolved Staff Comments                                                                                                   | 11     |   |
|          | Item      2.  |   | Properties                                                                                                                  | 12     |   |
|          | Item      3.  |   | Legal Proceedings                                                                                                           | 13     |   |
|          | Item      4.  |   | Submission of Matters to a Vote of Security      Holders                                                                    | 13     |   |
|          |          |   |                                                                                                                        |   |   |
| PART      II  |          |   |                                                                                                                        |   |
|          | Item      5.  |   | Market for the Registrant’s Common Equity, Related      Shareholder Matters and Issuer Purchases of Equity Securities | 14     |   |
|          | Item      6.  |   | Selected Financial Data                                                                                                     | 17     |   |
|          | Item      7.  |   | Management’s Discussion and Analysis of Financial      Condition and Results of Operations                            | 18     |   |
|          |          |   | Forward-Looking Statements; Factors That      May Affect Future Results                                                     | 26     |   |
|          | Item      7A. |   | Quantitative and Qualitative Disclosure About Market      Risks                                                             | 27     |   |
|          | Item      8.  |   | Financial Statements and Supplementary      Data                                                                            | 28     |   |
|          | Item      9.  |   | Changes in and Disagreements with Accountants on      Accounting and Financial Disclosure                                   | 59     |   |
|          | Item      9A. |   | Controls and Procedures                                                                                                     | 59     |   |
|          | Item      9B. |   | Other Information                                                                                                           | 59     |   |
|          |          |   |                                                                                                                        |   |   |
|          |          |   |                                                                                                                        |   |   |
| PART      III |          |   |                                                                                                                        |   |
|          | Item      10. |   | Directors, Executive Officers and Corporate      Governance                                                                 | 60     |   |
|          | Item      11. |   | Executive Compensation                                                                                                      | 60     |   |
|          | Item      12. |   | Security Ownership of Certain Beneficial Owners and      Management and Related Shareholder Matters                         | 60     |   |
|          | Item      13. |   | Certain Relationships and Related Transactions, and      Director Independence                                              | 60     |   |
|          | Item      14. |   | Principal Accountant Fees and      Services                                                                                 | 60     |   |
|          |          |   |                                                                                                                        |   |   |
| PART      IV  |          |   |                                                                                                                        |   |
|          | Item      15. |   | Exhibits and Financial Statement    Schedules                                                                               | 61     |   |
|          |          |   |                                                                                                                        |   |   |
| SIGNATURES    |          |   | 65                                                                                                                          |   |

----

Index

|  FACTORS THAT MAY AFFECT FUTURE RESULTSMet-Pro’s      prospects are subject to certain uncertainties and risks.  This      Annual Report on Form 10-K also contains certain forward-looking      statements within the meaning of the Federal securities      laws.  Met-Pro’s future results may differ materially from its      current results and actual results could differ materially from those      projected in the forward-looking statements, perhaps for reasons described      in “Risk Factors”, and perhaps for other unanticipated reasons. Readers should pay particular      attention to the considerations described in the section of this report      entitled “Management’s Discussion and Analysis of Financial Condition and      Results of Operations – Forward-Looking Statements; Factors That May      Affect Future Results.” Readers should also carefully review the      risk factors identified in this Annual Report and in other documents      Met-Pro files from time to time with the Securities and Exchange      Commission.   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

PART I

----

Index

----

Index

----

Index

|               | Percentage      of Net Sales       |
|--------------------|------------------------------------|
|               | Fiscal      Year Ended January 31, |
|               | 2009                               |   | 2008 |   | 2007 |   |
| United      States | 74.3                               | % | 71.7 | % | 75.9 | % |
| Foreign            | 25.7                               | % | 28.3 | % | 24.1 | % |
| Net      Sales     | 100.0                              | % | 100.0 | % | 100.0 | % |

----

Index

----

Index

----

Index

Executive Officers of the Registrant:

----

Index

Item 1A.  RiskFactors:

| ·         | reduced      demand for our products, especially for those offered by our Product      Recovery/Pollution Control Technologies reporting segment, which include      large dollar projects more likely to be affected by economic      conditions; |
|--------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·         | increased      price competition for our products; |
|--------------------------|----------------------------------------------------|

| ·         | increased      risk of excess and obsoleteinventories; |
|--------------------------|--------------------------------------------------------|

| ·         | increased      risk in the collectability of cash from our  customers; |
|--------------------------|------------------------------------------------------------------------|

| ·         | increased      risk in potential reserves for doubtful accounts and write-offs of      accounts receivable; and |
|--------------------------|-----------------------------------------------------------------------------------------------------------------|

| ·         | higher      operating costs as a percentage ofrevenues. |
|--------------------------|---------------------------------------------------------|

| We      sell our products in highly competitive markets, which puts pressure on      our profit margins and limits our ability to maintain or increase the      market share of our products. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| We      are party to asbestos-containing product litigation that could adversely      affect our financial condition, results of operations and cash      flows. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index

| Significant      changes in pension fund investment performance or assumptions relating to      pension costs may have a material effect on the valuation of our      obligations under our defined benefit pension plans, the funded status of      these plans and our pensionexpense. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| If      our goodwill or indefinite-lived intangible assets become impaired, we may      be required to record a significant charge to  earnings. |
|--------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index

| During our fiscal year ended      January 31, 2008, we restated prior period financial statements and      determined that we had material weaknesses in our internal control over      financial reporting. Although we have made changes in our internal      controls and believe that our internal control over financial reporting      was effective as of January 31, 2009 as well as January 31, 2008, no      evaluation of controls can provide absolute assurances that misstatements      due to fraud or errors will not  occur. |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| If      we are unable to obtain raw materials at favorable prices, our operating      margins and results of operations will be adversely    affected. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------|

| We      may incur material costs as a result of product liability and warranty      claims, which could adversely affect our financial condition, results of      operations and cash flows. |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Natural      or man-made disasters could negatively affect our  business. |
|---------------------------------------------------------------------------|

| A substantial portion of our business is sold      internationally, we also manufacture outside the United States, and we      plan to increase our international distribution and      manufacturing of our products.  These international activities      subject us to additional businessrisks. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index

|   | ·  | export      and import restrictions, tax consequences and other      trade barriers,        |
|--------|--------------|---------------------------------------------------------------------------------------------|
|   | ·  | currency      fluctuations,                                                                 |
|   | ·  | greater      difficulty in accounts receivable collections,                                 |
|   | ·  | economic      and political instability,                                                    |
|   | ·  | foreign      exchange controls that prohibit payment in U.S. dollars,    and                |
|   | ·  | increased      complexity and costs of managing and staffing international      operations. |

| Our      products could infringe the intellectual property rights of others and we      may be exposed to costlylitigation. |
|-----------------------------------------------------------------------------------------------------------------------------|

| Our      ability to operate our Company effectively could be impaired if we fail to      attract and retain key personnel. |
|----------------------------------------------------------------------------------------------------------------------------|

| Changes      in accounting may affect our reportedearnings. |
|-------------------------------------------------------------|

| Additional      Risks to the Company. |
|---------------------------------------|

Item 1B.  Unresolved StaffComments:

----

Index

Item 2.  Properties:

|                               | Name                                    |   | Structure                               |      |   | Property/Location | Status |
|------------------------------------|-----------------------------------------|--------|-----------------------------------------|-----------|--------|-------------------|--------|
|                               |                                    |   |                                    |      |
| Executive      Offices,            | 73,000      square foot, cement         |   | 17      acres in Harleysville,          | Owned     |
| International      Sales,          | building,      with finestone facing    |   | Pennsylvania                            |      |
| Systems      and                   |                                    |   |                                    |      |
| Strobic      Air                   |                                    |   |                                    |      |
|                               |                                    |   |                                    |      |
| Keystone      Filter               | 31,000      square foot, cement         |   | 2.3      acres in Hatfield,             | Owned     |
|                               | block      building                     |   | Pennsylvania                            |      |
|                               |                                    |   |                                    |      |
| Sethco      and Fybroc             | 93,500      square foot, cement         |   | 8      acres in Telford,                | Owned     |
|                               | building      with brick facing         |   | Pennsylvania                            |      |
|                               |                                    |   |                                    |      |
| Dean      Pump                     | 66,000      square foot, metal          |   | 17.1      acres in Indianapolis,        | Owned     |
|                               | building                                |   | Indiana                                 |      |
|                               |                                    |   |                                    |      |
| Duall      and Mefiag              | 63,000      square foot, metal          |   | 7      acres in Owosso,                 | Owned     |
|                               | and      masonry building               |   | Michigan                                |      |
|                               |                                    |   |                                    |      |
| Flex-Kleen                         | 45,500      square foot, brick building |   | 2.3      acres in Glendale Heights,     | Owned     |
|                               |                                    |   | Illinois                                |      |
|                               |                                    |   |                                    |      |
| Met-Pro      Product               | 3,239      square foot, masonry         |   | Vaughan,      Ontario, Canada           | Leased(1) |
| Recovery/Pollution      Control    | building                                |   |                                    |      |
| Technologies      Inc.             |                                    |   |                                    |      |
|                               |                                    |   |                                    |      |
| Pristine      Water Solutions Inc. | 22,000      square foot, cement         |   | 2.55      acres in Waukegan,            | Owned     |
|                               | block      building                     |   | Illinois                                |      |
|                               |                                    |   |                                    |      |
| Mefiag      B.V.                   | 34,000      square foot, metal          |   | 1.1      acres in Heerenveen,           | Owned     |
|                               | and      masonry building               |   | The      Netherlands                    |      |
|                               |                                    |   |                                    |      |
|                               | Vacant      land                        |   | 3      acres in Heerenveen,             | Owned     |
|                               |                                    |   | The      Netherlands                    |      |
|                               |                                    |   |                                    |      |
| Mefiag      (Guangzhou) Filter     | 11,000      square foot cement          |   | Guangzhou,      People’s Republic | Leased(2) |
| Systems      Ltd.                  | building                                |   | of      China                           |      |

| (1) | On      April 1, 2008, Met-Pro Product Recovery/Pollution Control Technologies      Inc. entered into a lease for a sales and warehouse facility in Vaughan,      Ontario, Canada which expires on March 31, 2011. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Mefiag      (Guangzhou) Filter Systems Ltd.’s lease for the operation in Guangzhou,      People’s Republic of China expires on July 31,  2010.                                                         |

----

Index

Item 3.  LegalProceedings:

Beginning in 2002, the Company and/or one of its businessunits began to be named as one of many defendants in asbestos-related lawsuitsfiled predominantly in Mississippi on a mass basis by large numbers ofplaintiffs against a large number of industrial companies including, inparticular, those in the pump and fluid handling industries. The complaintsfiled against the Company and/or this business unit have been vague, general andspeculative, alleging that the Company, and/or the business unit, along with thenumerous other defendants, sold unidentified asbestos-containing products andengaged in other related actions which caused injuries (including death) andloss to the plaintiffs.  More recent cases typically allege moreserious claims of mesothelioma. The Company believes that it and/or the businessunit have meritorious defenses to the cases which have been filed and that noneof its and/or the business unit's products were a cause of any injury or loss toany of the plaintiffs. The Company’s insurers have hired attorneys who, togetherwith the Company, are vigorously defending these cases. The Company and/or thebusiness unit have been dismissed from or settled a number of these cases. Thesum total of payments made through January 31, 2009 to settle these casesis $355,000, all of which has been paid by the Company’s insurers includinglegal expenses, except for corporate counsel expenses, with an average cost persettled claim, excluding legal fees, of approximately $24,000. As of January 31,2009, there were a total of 57 cases pending against the Company (with amajority of those cases pending in New York, Mississippi and Maryland), ascompared with 38 cases that were pending as of January 31, 2008. During thefiscal year ended January 31, 2009, 29 new cases were filed against the Company,and the Company was dismissed from 10 cases. Most of the pending caseshave not advanced beyond the early stages of discovery, although a number ofcases are on schedules leading to, or are scheduled for trial. The Companybelieves that its insurance coverage is adequate for the cases currently pendingagainst the Company and for the foreseeable future assuming a continuation ofthe current volume and nature of cases; however, the Company has no control overthe number and nature of cases that are filed against it nor as to the financialhealth of its insurers or their position as to coverage.  The Companyalso presently believes that none of the pending cases will have a materialadverse impact upon the Company’s results of operations, liquidity or financialcondition.

Item 4.  Submission of Matters to a Vote ofSecurity Holders:

----

Index

PART II

Item 5.   Market for the Registrant’s CommonEquity, Related Shareholder Matters and Issuer Purchases of EquitySecurities:

|                               |   | Quarter      ended |   |
|------------------------------------|--------|--------------------|--------|
| Year      ended January 31, 2009   | April  |               | July   |   | October |   | January |
|                               |   |               |   |   |   |   |   |
| Price      range of common shares: |   |               |   |   |   |   |   |
| High                               | $11.76 |               | $15.38 |   | $16.65 |   | $13.50 |
| Low                                | 9.83   |               | 11.67  |   | 9.10 |   | 8.93 |
| Cash      dividend paid            | .0550  |               | .0550  |   | .0550 |   | .0600 |
|                               |   |               |   |   |   |   |   |
| Year      ended January 31, 2008   | April  |               | July   |   | October |   | January |
|                               |   |               |   |   |   |   |   |
| Price      range of common shares: |   |               |   |   |   |   |   |
| High                               | $12.01 |               | $12.21 |   | $13.52 |   | $12.82 |
| Low                                | 10.69  |               | 11.18  |   | 10.40 |   | 10.20 |
| Cash      dividend paid            | .0506  |               | .0506  |   | .0506 |   | .0550 |

----

Index

|   | 2004        | 2005   | 2006   | 2007   | 2008  | 2009   |
|--------|------------------|------------------|------------------|------------------|------------|------------------|
|   |             |             |             |             |       |             |

| Met-Pro      Corporation                | $100.00      | $77.82             |  $107.43 | $129.04 | $117.77 | $127.29 |
|-----------------------------------------|--------------|--------------------|---------------|---------|---------|---------|
| S&P      Industrial Machinery Index |  100.00 |   123.37 |  148.01  | 171.57  | 167.70  | 102.77  |
| S&P      500 Index                  | 100.00       | 104.43             | 113.17        | 127.15  | 121.87  | 73.01   |
| Russell      2000 Index                 |  100.00 |   107.45 |  126.25  | 137.81  | 122.82  | 76.37   |

----

Index

|                                             |                      |                      |                          |                     |   |   | Number      of Securities |
|--------------------------------------------------|---------------------------|---------------------------|-------------------------------|--------------------------|--------|--------|---------------------------|
|                                             |                      |                      |                          |                     |   |   | Remaining      Available  |
|                                             | Number      of Securities |                      |                          | For      Future Issuance |
|                                             | to      be Issued Upon    | Weighted-Average          | Under      Equity             |
|                                             | Exercise      of          | Exercise      Price of    | Compensation      Plans       |
|                                             | Outstanding      Options, | Outstanding      Options, | (Excluding      Securities    |
| Plan      Category                               | Warrants      and Rights  | Warrants      and Rights  | Reflected      in Column (A)) |
|                                             | (A)                       | (B)                       | (C)                           |
| Equity      compensation plans approved by       |                      |                      |                          |                     |   |   |                      |   |
|     security      holders    |                      | 1,193,533                 | (1)                           |                     | $9.54  | (1)    | 1,078,242                 | (1) |
| Equity      compensation plans not approved      |                      |                      |                          |                     |   |   |                      |   |
|     by      security holders |                      | -                         |                          |                     | -      |   | -                         |   |

| (1) | Subject      to adjustment by the terms of the plans in connection with stock splits      and other similar transactions. |
|-----|---------------------------------------------------------------------------------------------------------------------------|

| Issuer Purchases of       |
|---------------------------|
| Equity      Securities    |
|                      |   |   |   |   |   |   |   |   |   |
|                      |   |   |   |   |   | Total |   | Maximum |   |
|                      |   |   |   |   |   | Number      of |   | Number      of |   |
|                      |   |   |   |   |   | Shares |   | Shares |   |
|                      |   |   |   |   |   | Purchased |   | That      May |   |
|                      |   |   |   |   |   | As      Part of |   | Yet      Be |   |
|                      |   | Total |   |   |   | Publicly |   | Purchased |   |
|                      |   | Number      of |   | Average |   | Announced |   | Under      the |   |
|                      |   | Shares |   | Price      Paid |   | Plans      or |   | Plan      or |   |
| Period                    |   | Purchased |   | Per      Share |   | Programs |   | Programs |   |
| February      1-29, 2008  |   | 0 |   | $       - |   | 0 |   | 310,019 |   |
| March      1-31, 2008     |   | 0 |   | - |   | 0 |   | 310,019 |   |
| April      1-30, 2008     |   | 0 |   | - |   | 0 |   | 310,019 |   |
| May      1-31, 2008       |   | 0 |   | - |   | 0 |   | 310,019 |   |
| June      1-30, 2008      |   | 0 |   | - |   | 0 |   | 310,019 |   |
| July      1-31, 2008      |   | 37,327 |   | 14.80 |   | 0 |   | 272,692 |   |
| August      1-31, 2008    |   | 27,086 |   | 15.56 |   | 0 |   | 245,606 |   |
| September      1-30, 2008 |   | 100,247 |   | 15.67 |   | 0 |   | 145,359 |   |
| October      1-31, 2008   |   | 567,075 |   | 9.09 |   | 0 |   | 0 |   |
| November      1-30, 2008  |   | 0 |   | - |   | 0 |   | 300,000 |   |
| December      1-31, 2008  |   | 0 |   | - |   | 0 |   | 300,000 |   |
| January      1-31, 2009   |   | 0 |   | - |   | 0 |   | 300,000 |   |
| Total                     |   | 731,735 |   | $10.52 |   | 0 |   | 300,000 |   |

----

Index

Item 6.  Selected FinancialData:

|                                                 |         |   |         | Years      ended January 31, |        |   |        |   |
|------------------------------------------------------|--------------|--------|--------------|------------------------------|-------------|--------|-------------|--------|
|                                                 | 2009         |   | 2008         |                         | 2007        |   | 2006        |   | 2005 |   |
|                                                 |         |   |         |                         |        |   |        |   |   |   |
| Selected      Operating Statement Data               |         |   |         |                         |        |   |        |   |   |   |
| Net      sales                                       | $103,391,926 |   | $106,867,849 |                         | $93,505,504 |   | $87,687,053 |   | $74,431,932 |   |
| Income      from operations                          | 14,057,079   |   | 17,597,491   | (1)                          | 9,757,075   |   | 9,662,604   |   | 7,384,115 |   |
| Net      income                                      | 9,861,065    |   | 11,906,165   | (2)                          | 6,926,804   |   | 7,313,284   |   | 4,814,679 |   |
| Earnings      per share, basic                       | .66          |   | .79          | (3)                          | .46         |   | .49         |   | .32 |   |
| Earnings      per share, diluted                     | .65          |   | .78          | (4)                          | .46         |   | .48         |   | .32 |   |
|                                                 |         |   |         |                         |        |   |        |   |   |   |
| Selected      Balance Sheet Data                     |         |   |         |                         |        |   |        |   |   |   |
| Current      assets                                  | $64,161,732  |   | $68,095,140  |                         | $58,803,353 |   | $53,413,413 |   | $50,034,033 |   |
| Current      liabilities                             | 12,239,667   |   | 16,850,801   |                         | 14,364,393  |   | 14,361,953  |   | 12,916,500 |   |
| Working      capital                                 | 51,922,065   |   | 51,244,339   |                         | 44,438,960  |   | 39,051,460  |   | 37,117,533 |   |
| Current      ratio                                   | 5.2          |   | 4.0          |                         | 4.1         |   | 3.7         |   | 3.9 |   |
| Total      assets                                    | 104,752,304  |   | 109,410,903  |                         | 96,741,657  |   | 89,071,391  |   | 82,687,604 |   |
| Long-term      obligations                           | 3,753,228    |   | 4,075,682    |                         | 5,417,990   |   | 2,723,586   |   | 4,039,068 |   |
| Total      shareholders’ equity                | 78,777,481   |   | 83,243,168   |                         | 72,313,132  |   | 67,538,238  |   | 63,165,191 |   |
| Total      capitalization                            | 82,530,709   |   | 87,318,850   |                         | 77,731,122  |   | 70,261,824  |   | 67,204,259 |   |
| Return      on average total assets, %               | 9.2          |   | 11.6         |                         | 7.5         |   | 8.5         |   | 5.9 |   |
| Return      on average shareholders’ equity, % | 12.2         |   | 15.3         |                         | 9.9         |   | 11.2        |   | 7.8 |   |
|                                                 |         |   |         |                         |        |   |        |   |   |   |
| Other      Financial Data                            |         |   |         |                         |        |   |        |   |   |   |
| Net      cash flows from operating activities        | $12,142,087  |   | $9,875,144   |                         | $3,900,152  |   | $4,441,414  |   | $8,545,521 |   |
| Capital      expenditures                            | 1,580,528    |   | 5,456,418    |                         | 4,398,910   |   | 4,151,253   |   | 1,193,767 |   |
| Dollar      value of share repurchases               | 7,694,333    |   | 630,515      |                         | -           |   | 140,135     |   | 538,499 |   |
| Shareholders’      equity per share            | 5.40         |   | 5.56         |                         | 4.84        |   | 4.53        |   | 4.25 |   |
| Cash      dividends paid per share                   | .230         |   | .207         |                         | .191        |   | .178        |   | .166 |   |
| Average      common shares, basic                    | 14,909,809   |   | 15,002,012   |                         | 14,943,174  |   | 14,918,209  |   | 14,861,124 |   |
| Average      common shares, diluted                  | 15,219,540   |   | 15,328,368   |                         | 15,205,012  |   | 15,111,483  |   | 15,045,342 |   |
| Common      shares outstanding                       | 14,600,109   |   | 15,039,030   |                         | 14,953,658  |   | 14,929,480  |   | 14,876,518 |   |

| (1)   | Includes      $3,513,940 from the sale of a building owned by the Company in Hauppauge,      New York. |
|-----------------|--------------------------------------------------------------------------------------------------------|

| (2)   | Includes      $2,213,782 (net of tax) from the sale of a building owned by the Company      in Hauppauge, New York. |
|-----------------|---------------------------------------------------------------------------------------------------------------------|

| (3)   | Includes      $0.14 per share from the sale of a building owned by the Company in      Hauppauge, New York. |
|-----------------|-------------------------------------------------------------------------------------------------------------|

| (4)   | Includes      $0.15 per share from the sale of a building owned by the Company in      Hauppauge, New York. |
|-----------------|-------------------------------------------------------------------------------------------------------------|

----

Index

Item 7.  Management’s Discussion and Analysisof Financial Condition and Results of Operations:

|                                             |   | Years      ended January 31, |
|--------------------------------------------------|--------|------------------------------|
|                                             | 2009   |                         | 2008 |   | 2007 |   |
| Net      sales                                   | 100.0  | %                            | 100.0 | % | 100.0 | % |
| Cost      of goods sold                          | 65.1   | %                            | 66.0 | % | 67.9 | % |
| Gross      profit                                | 34.9   | %                            | 34.0 | % | 32.1 | % |
|                                             |   |                         |   |   |   |   |
| Selling,      general and administrative expense | 21.3   | %                            | 20.8 | % | 21.7 | % |
| Gain      on sale of building                    | -      |                         | (3.3 | %) | - |   |
| Income      from operations                      | 13.6   | %                            | 16.5 | % | 10.4 | % |
|                                             |   |                         |   |   |   |   |
| Interest      expense                            | (.2    | %)                           | (.3 | %) | (.4 | %) |
| Other      income, net                           | .4     | %                            | .9 | % | 1.0 | % |
| Income      before taxes                         | 13.8   | %                            | 17.1 | % | 11.0 | % |
|                                             |   |                         |   |   |   |   |
| Provision      for taxes                         | 4.3    | %                            | 6.0 | % | 3.6 | % |
| Net      income                                  | 9.5    | %                            | 11.1 | % | 7.4 | % |

----

Index

----

Index

----

Index

----

Index

----

Index

|                   |   |      |       |        |   |       |   |     |   |          |   |        |   | Total       |
|------------------------|--------|-----------|------------|-------------|--------|------------|--------|----------|--------|---------------|--------|-------------|--------|-------------|
|                   |   |      |       |        |   |       |   |     |   |          |   |        |   | Contractual |
| Payments      Due By   |   | Long-Term |       | Purchase    |   | Operating  |   | Interest |   | Pension       |   | Cash        |
| Period                 |   | Debt      |       | Obligations |   | Leases     |   | Expense  |   | Contributions |   | Obligations |
| Less      than 1 Year  |   |      | $746,042   |        |   | $5,528,061 |   | $88,779  |   | $168,632      |   | $1,704,639  |   | $8,236,153  |   |
| 1      – 3 Years |   |      | 723,784    |        |   | -          |   | 61,245   |   | 270,725       |   | 4,003,055   |   | 5,058,809   |   |
| 3      – 5 Years |   |      | 723,784    |        |   | -          |   | -        |   | 207,103       |   | 4,191,812   |   | 5,122,699   |   |
| More      than 5 Years |   |      | 1,951,452  |        |   | -          |   | -        |   | 288,039       |   | 458,181     |   | 2,697,672   |   |
| Total                  |   |      | $4,145,062 |        |   | $5,528,061 |   | $150,024 |   | $934,499      |   | $10,357,687 |   | $21,115,333 |   |

----

Index

----

Index

----

Index

Forward-Looking Statements; Factors That MayAffect Future Results:

| ·  | the      write-down of costs in excess of net assets of businesses acquired      (goodwill), as a result of the determination that the acquired business is      impaired.  Our Flex-Kleen business unit, which initially      performed well after being acquired by Met-Pro, thereafter had several      years of declining performance which we attributed primarily to a general      weakness in its served markets, followed by improved performance in the      fiscal years ended January 31, 2007, 2008, and 2009.  During the      fiscal year ended January 31, 2009, we performed an impairment analysis of      the $11.1 million of goodwill that the Company carries for Flex-Kleen and      concluded that no impairment had occurred. For the fiscal year ended      January 31, 2009, the actual net sales and operating profit for our      Flex-Kleen business unit have exceeded the projections used in our annual      impairment model.  We anticipate that Flex-Kleen’s performance      during the fiscal year beginning February 1, 2009 will be at a level that      will not indicate impairment of its goodwill, but this expectation is a      forward-looking statement where the actual results may not be as we      presently anticipate; |
|--------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ·  | materially      adverse changes in economic conditions (i) in the markets served by us or      (ii) in significant customers of ours;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| ·  | material      changes in available technology;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| ·  | adverse      developments in the asbestos cases that have been filed against the      Company, including without limitation the exhaustion of insurance      coverage, the imposition of punitive damages or other adverse developments      in the availability of insurance coverage;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| ·  | changes      in accounting rules promulgated by regulatory agencies, including the SEC,      which could result in an impact on earnings;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| ·  | the      cost of compliance with Sarbanes-Oxley and other applicable legal and      listing requirements, and the unanticipated possibility that Met-Pro may      not meet these requirements;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

----

Index

| ·  | weaknesses      in our internal control over financial reporting, which either alone or      combined with actions by our employees intended to circumvent our internal      control over financial reporting, to violate our policies, or to commit      fraud or other bad acts, could lead to incorrect reporting of financial      results.  During the fiscal year January 31, 2008, we restated      our financial statements for the fiscal quarters ended October 31, 2006      through October 31, 2007 as well as for the fiscal year ended January 31,      2007 as a result of revenue recognition errors and other financial      statement errors that we made due to material weaknesses in internal      control over financial reporting that was exploited by an employee who      sought to circumvent our internal controls and other policies and      procedures.  Although we have instituted new controls and      procedures intended to improve our control over revenue recognition and      believe that our internal control over financial reporting as of January      31, 2009 is effective, there are limits to any control system and we      cannot give absolute assurance that our internal control is effective or      that financial statement misstatements will not occur or that policy      violations and/or fraud within the Company will not  occur; |
|--------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ·  | unexpected      results in our product development activities;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| ·  | loss      of key customers;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| ·  | changes      in product mix and the cost of materials, with effect on      margins;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| ·  | changes      in our existing management;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| ·  | exchange      rate fluctuations;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| ·  | changes      in federal laws, state laws and regulations;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| ·  | lower      than anticipated return on investments in the Company’s defined benefit      plans, which could affect the amount of the Company’s pension      liabilities;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| ·  | the      assertion of litigation claims that the Company’s products, including      products produced by companies acquired by the Company, infringe third      party patents or have caused injury, loss or damage;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| ·  | the      effect of acquisitions and other strategic ventures;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| ·  | failure      to properly quote and/or execute customer orders, including      misspecifications, design, engineering or production    errors;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| ·  | the      cancellation or delay of purchase orders or shipments;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| ·  | losses      related to sales; and/or                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| ·  | failure      in execution of acquisitionstrategy.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |

Item 7A.  Quantitative and QualitativeDisclosure About Market Risks:

----

Index

Item 8.   Financial Statements andSupplementary Data:

|   | Index      to Consolidated Financial Statements and Supplementary    Data: |                                                                        |
|--------|----------------------------------------------------------------------------|-----------------------------------------------------------------------------|
|   |                                                                       | Page                                                                        |
|   | Consolidated      Financial Statements:                                    |                                                                        |
|   |                                                                       | Management’s Report on Internal Control      Over Financial Reporting | 29 |
|   |                                                                       | Reports of Independent Registered Public      Accounting Firm               | 30 |
|   |                                                                       | Consolidated Statement of      Operations                                   | 32 |
|   |                                                                       | Consolidated Balance Sheet                                                  | 33 |
|   |                                                                       | Consolidated Statement of Cash Flows                                        | 34 |
|   |                                                                       | Consolidated Statement of Shareholders’      Equity                   | 35 |
|   |                                                                       | Consolidated Business Segment      Data                                     | 36 |
|   |                                                                       | Notes to Consolidated Financial    Statements                               | 37 |
|   | Supplementary      Data:                                                   |                                                                        |
|   |                                                                       | Quarterly Financial Data                                                    | 59 |

----

Index

MANAGEMENT’S REPORT ON INTERNAL CONTROL OVERFINANCIAL REPORTING

|   |                                       |
|--------|--------------------------------------------|
|   | /s/      Raymond J. De Hont                |
|   | Raymond      J. De Hont                    |
|   | President      and Chief Executive Officer |

|   | /s/      Gary J. Morgan      |
|--------|------------------------------|
|   | Gary      J. Morgan          |
|   | Chief      Financial Officer |

----

Index

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTINGFIRM

|   | /s/      Margolis & Company P.C. |
|--------|--------------------------------------|

----

Index

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTINGFIRM

|   | /s/      Margolis & Company P.C. |
|--------|--------------------------------------|

----

Index

CONSOLIDATED STATEMENT OFOPERATIONS

|                                        |   | Years      ended January 31, |
|---------------------------------------------|--------|------------------------------|
|                                        |   | 2009                         |   | 2008 |   | 2007 |   |
| Net      sales                              |   | $103,391,926                 |   | $106,867,849 |   | $93,505,504 |   |
| Cost      of goods sold                     |   | 67,290,930                   |   | 70,495,481 |   | 63,459,996 |   |
| Gross      profit                           |   | 36,100,996                   |   | 36,372,368 |   | 30,045,508 |   |
|                                        |   |                         |   |   |   |   |   |
| Operating      expenses                     |   |                         |   |   |   |   |   |
|   Selling                         |   | 10,704,584                   |   | 11,484,530 |   | 10,188,670 |   |
|   General      and administrative |   | 11,339,333                   |   | 10,804,287 |   | 10,099,763 |   |
|   Gain      on sale of building   |   | -                            |   | (3,513,940 | ) | - |   |
|                                        |   | 22,043,917                   |   | 18,774,877 |   | 20,288,433 |   |
| Income      from operations                 |   | 14,057,079                   |   | 17,597,491 |   | 9,757,075 |   |
|                                        |   |                         |   |   |   |   |   |
| Interest      expense                       |   | (228,249                     | ) | (304,325 | ) | (351,152 | ) |
| Other      income, net                      |   | 429,074                      |   | 968,715 |   | 932,590 |   |
| Income      before taxes                    |   | 14,257,904                   |   | 18,261,881 |   | 10,338,513 |   |
| Provision      for taxes                    |   | 4,396,839                    |   | 6,355,716 |   | 3,411,709 |   |
| Net      income                             |   | $9,861,065                   |   | $11,906,165 |   | $6,926,804 |   |
|                                        |   |                         |   |   |   |   |   |
| Earnings      per share                     |   |                         |   |   |   |   |   |
|   Basic                           |   | $.66                         |   | $.79 |   | $.46 |   |
|   Diluted                         |   | $.65                         |   | $.78 |   | $.46 |   |
|                                        |   |                         |   |   |   |   |   |
| Average      number of common and           |   |                         |   |   |   |   |   |
| common      equivalent shares outstanding   |   |                         |   |   |   |   |   |
|   Basic                           |   | 14,909,809                   |   | 15,002,012 |   | 14,943,174 |   |
|   Diluted                         |   | 15,219,540                   |   | 15,328,368 |   | 15,205,012 |   |

----

Index

CONSOLIDATED BALANCE SHEET

|                                                                                                                                                        | January      31, |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------|--------|
| ASSETS                                                                                                                                                      | 2009             |   | 2008 |   |
| Current      assets                                                                                                                                         |             |   |   |   |
|    Cash      and cash equivalents                                                                                                            | $21,749,653      |   | $21,906,877 |   |
|    Marketable      securities                                                                                                                | -                |   | 20,369 |   |
|    Accounts      receivable, net of allowance for                                                                                            |             |   |   |   |
|            doubtful      accounts of approximately                                                   |             |   |   |   |
|            $167,000      and $152,000, respectively                                                  | 20,177,672       |   | 23,013,988 |   |
|    Inventories                                                                                                                               | 20,236,865       |   | 21,258,227 |   |
|    Prepaid      expenses, deposits and other current assets                                                                                  | 1,997,542        |   | 1,895,679 |   |
|                  Total      current assets                             | 64,161,732       |   | 68,095,140 |   |
|                                                                                                                                                        |             |   |   |   |
| Property,      plant and equipment, net                                                                                                                     | 19,389,597       |   | 20,233,827 |   |
| Costs      in excess of net assets of businesses acquired, net                                                                                              | 20,798,913       |   | 20,798,913 |   |
| Other      assets                                                                                                                                           | 402,062          |   | 283,023 |   |
|                  Total      assets                                     | $104,752,304     |   | $109,410,903 |   |
|                                                                                                                                                        |             |   |   |   |
|                                                                                                                                                        |             |   |   |   |
| LIABILITIES      AND SHAREHOLDERS’ EQUITY                                                                                                             |             |   |   |   |
| Current      liabilities                                                                                                                                    |             |   |   |   |
|    Current      portion of long-term debt                                                                                                    | $746,042         |   | $2,028,482 |   |
|    Accounts      payable                                                                                                                     | 5,464,629        |   | 7,512,874 |   |
|    Accrued      salaries, wages and expenses                                                                                                 | 4,546,199        |   | 6,023,857 |   |
|    Dividend      payable                                                                                                                     | 876,007          |   | 827,147 |   |
|    Customers’      advances                                                                                                            | 356,008          |   | 260,698 |   |
|    Deferred      income taxes                                                                                                                | 250,782          |   | 197,743 |   |
|                  Total      current liabilities                        | 12,239,667       |   | 16,850,801 |   |
|                                                                                                                                                        |             |   |   |   |
| Long-term      debt                                                                                                                                         | 3,753,228        |   | 4,075,682 |   |
| Other      non-current liabilities                                                                                                                          | 8,855,912        |   | 2,109,250 |   |
| Deferred      income taxes                                                                                                                                  | 1,126,016        |   | 3,132,002 |   |
|                  Total      liabilities                                | 25,974,823       |   | 26,167,735 |   |
| Commitments                                                                                                                                                 |             |   |   |   |
| Shareholders’      equity                                                                                                                             |             |   |   |   |
|    Common      shares, $.10 par value; 36,000,000 shares                                                                                     |             |   |   |   |
|            authorized,      15,928,679 and 15,928,810 shares issued,                                 |             |   |   |   |
|            of      which 1,328,570 and 889,780 shares were reacquired                                |             |   |   |   |
|            and      held in treasury at the respective dates                                         | 1,592,868        |   | 1,592,881 |   |
|    Additional      paid-in capital                                                                                                           | 2,465,193        |   | 1,897,655 |   |
|    Retained      earnings                                                                                                                    | 89,727,308       |   | 83,267,096 |   |
|    Accumulated      other comprehensive income (loss)                                                                                        | (4,324,293       | )      | 1,340,427 |   |
|    Treasury      shares, at cost                                                                                                             | (10,683,595      | )      | (4,854,891 | ) |
|                  Total      shareholders’ equity                 | 78,777,481       |   | 83,243,168 |   |
|                  Total      liabilities and shareholders’ equity | $104,752,304     |   | $109,410,903 |   |

----

Index

CONSOLIDATED STATEMENT OF CASH FLOWS

|   | Years      ended January 31, |   |
|--------|------------------------------|--------|
|   | 2009                         |   | 2008 |   | 2007 |   |

|                                                                                                                                        |
|---------------------------------------------------------------------------------------------------------------------------------------------|
| INCREASE      (DECREASE) IN CASH AND CASH EQUIVALENTS                                                                                       |
|                                                                                                                                        |   |   |   |   |   |   |
| Cash      flows from operating activities                                                                                                   |   |   |   |   |   |   |
|      Net      income                                                                                               | $9,861,065 |   | $11,906,165 |   | $6,926,804 |   |
|      Adjustments      to reconcile net income to net                                                               |   |   |   |   |   |   |
|                 cash      provided by operating activities: |   |   |   |   |   |   |
|          Depreciation      and amortization                                                    | 1,924,611 |   | 1,738,625 |   | 1,602,138 |   |
|          Deferred      income taxes                                                            | 913,356 |   | 1,369,460 |   | 26,203 |   |
|          (Gain)      loss on sales of property and equipment, net                              | (18,174 | ) | (3,556,088 | ) | 13,310 |   |
|          Loss      on sale of investments                                                      | 11,102 |   | - |   | - |   |
|          Stock-based      compensation                                                         | 432,204 |   | 510,108 |   | 327,200 |   |
|          Allowance      for doubtful accounts                                                  | 14,695 |   | 19,352 |   | (114,238 | ) |
|          (Increase)      decrease in operating assets:                                         |   |   |   |   |   |   |
|              Accounts      receivable                                      | 2,414,216 |   | (2,633,358 | ) | (1,831,614 | ) |
|              Inventories                                                   | 723,256 |   | (1,197,111 | ) | (3,161,103 | ) |
|              Prepaid      expenses and deposits                            | (653,985 | ) | (754 | ) | 2,872 |   |
|              Other      assets                                             | 374,563 |   | (115,992 | ) | 332,466 |   |
|          Increase      (decrease) in operating liabilities:                                    |   |   |   |   |   |   |
|              Accounts      payable and accrued expenses                    | (3,113,308 | ) | 2,654,425 |   | 255,908 |   |
|              Customers’      advances                                | 96,670 |   | (723,531 | ) | (721,878 | ) |
|              Other      non-current liabilities                            | (838,184 | ) | (96,157 | ) | 242,084 |   |
|              Net cash provided by operating      activities                | 12,142,087 |   | 9,875,144 |   | 3,900,152 |   |   |
|                                                                                                                                        |   |   |   |   |   |   |
| Cash      flows from investing activities                                                                                                   |   |   |   |   |   |   |
|      Proceeds      from sales of property and equipment                                                            | 20,785 |   | 4,396,164 |   | 14,310 |   |
|      Acquisitions      of property and equipment                                                                   | (1,580,528 | ) | (5,456,418 | ) | (4,398,910 | ) |
|      Increase      in securities available for sale                                                                | (472 | ) | - |   | (21,820 | ) |
|      Proceeds      from sale of securities                                                                         | 11,190 |   | - |   | - |   |
|              Net cash (used in) investing      activities                  | (1,549,025 | ) | (1,060,254 | ) | (4,406,420 | ) |
|                                                                                                                                        |   |   |   |   |   |   |
| Cash      flows from financing activities                                                                                                   |   |   |   |   |   |   |
|      Proceeds      from new borrowings                                                                             | - |   | - |   | 4,312,293 |   |
|      Reduction      of debt                                                                                        | (1,664,252 | ) | (1,499,334 | ) | (1,492,699 | ) |
|      Exercise      of stock options                                                                                | 1,912,398 |   | 1,081,835 |   | 147,174 |   |
|      Payment      of dividends                                                                                     | (3,359,962 | ) | (3,101,839 | ) | (2,857,423 | ) |
|      Purchase      of treasury shares                                                                              | (7,694,333 | ) | (630,515 | ) | - |   |
|      Payment      of cash in lieu of fractional shares                                                             | - |   | (1,642 | ) | - |   |
|              Net cash provided by (used in)      financing activities      | (10,806,149 | ) | (4,151,495 | ) | 109,345 |   |
| Effect      of exchange rate changes on cash                                                                                                | 55,863 |   | (78,712 | ) | 35,812 |   |
| Net      increase (decrease) in cash and cash equivalents                                                                                   | (157,224) |   | 4,584,683 |   | (361,111 | ) |
| Cash      and cash equivalents at beginning of year                                                                                         | 21,906,877 |   | 17,322,194 |   | 17,683,305 |   |
| Cash      and cash equivalents at end of year                                                                                               | $21,749,653 |   | $21,906,877 |   | $17,322,194 |   |

----

Index

CONSOLIDATED STATEMENT OF SHAREHOLDERS’EQUITY

|                                                                                        |       |   |   |    |       |   |     |   |          |   |     | Accumulated |   |   |   |         |   |   |   |
|---------------------------------------------------------------------------------------------|------------|--------|--------|---------|------------|--------|----------|--------|---------------|--------|----------|-------------|--------|--------|--------|--------------|--------|--------|--------|
|                                                                                        |       |   |   |    | Additional |   |     |   |          |   | Other    |        |   |   |   |         |   |   |
|                                                                                        | Common     |   |   | Paid-in |       |   | Retained |   | Comprehensive |   | Treasury |        |   |   |   |
|                                                                                        | Shares     |   |   | Capital |       |   | Earnings |   | Income/(Loss) |   | Shares   |        |   | Total  |   |
| Balances,      January 31, 2006                                                             | $1,284,661 |   |   |    | $7,564,180 |   |     |   | $70,645,717   |   |     | ($321,821   | )      |   |   | ($11,634,499 | )      |   |   | $67,538,238 |   |
| Comprehensive      income:                                                                  |       |   |   |    |       |   |     |   |          |   |     |        |   |   |   |         |   |   |   |   |   |
|    Net      income                                                           | -          |   |   |    | -          |   |     |   | 6,926,804     |   |     | -           |   |   |   | -            |   |   |   |   |   |
|    Foreign      currency translation adjustment                              | -          |   |   |    | -          |   |     |   | -             |   |     | 291,299     |   |   |   | -            |   |   |   |   |   |
|    Interest      rate swap, net of tax of $21,772                            | -          |   |   |    | -          |   |     |   | -             |   |     | (36,040     | )      |   |   | -            |   |   |   |   |   |
|    Securities      available for sale, net of tax of ($840)                  | -          |   |   |    | -          |   |     |   | -             |   |     | 1,430       |   |   |   | -            |   |   |   |   |   |
|    Minimum      pension liability adjustment,                                |       |   |   |    |       |   |     |   |          |   |     |        |   |   |   |         |   |   |   |   |   |
|       net      of tax of $16,075                              | -          |   |   |    | -          |   |     |   | -             |   |     | 31,661      |   |   |   | -            |   |   |   |   |   |
|           Total      comprehensive income |       |   |   |    |       |   |     |   |          |   |     |        |   |   |   |         |   |   |   | 7,215,154 |   |
| Dividends      paid, $.1444 per share                                                       | -          |   |   |    | -          |   |     |   | (2,157,604    | )      |     | -           |   |   |   | -            |   |   |   | (2,157,604 | ) |
| Dividend      declared, $.0507 per share                                                    | -          |   |   |    | -          |   |     |   | (757,029      | )      |     | -           |   |   |   | -            |   |   |   | (757,029 | ) |
| Stock-based      compensation                                                               | -          |   |   |    | 327,200    |   |     |   | -             |   |     | -           |   |   |   | -            |   |   |   | 327,200 |   |
| Stock      option transactions                                                              | -          |   |   |    | 19,328     |   |     |   | -             |   |     | -           |   |   |   | 127,845      |   |   |   | 147,173 |   |
| Balances,      January 31, 2007                                                             | 1,284,661  |   |   |    | 7,910,708  |   |     |   | 74,657,888    |   |     | (33,471     | )      |   |   | (11,506,654  | )      |   |   | 72,313,132 |   |
| Comprehensive      income:                                                                  |       |   |   |    |       |   |     |   |          |   |     |        |   |   |   |         |   |   |   |   |   |
|    Net      income                                                           | -          |   |   |    | -          |   |     |   | 11,906,165    |   |     | -           |   |   |   | -            |   |   |   |   |   |
|    Adoption      of FIN No. 48                                               | -          |   |   |    | -          |   |     |   | (125,000      | )      |     | -           |   |   |   | -            |   |   |   |   |   |
|    Foreign      currency translation adjustment                              | -          |   |   |    | -          |   |     |   | -             |   |     | 760,412     |   |   |   | -            |   |   |   |   |   |
|    Interest      rate swap, net of tax of $34,645                            | -          |   |   |    | -          |   |     |   | -             |   |     | (58,990     | )      |   |   | -            |   |   |   |   |   |
|    Securities      available for sale, net of tax of $1,377                  | -          |   |   |    | -          |   |     |   | -             |   |     | (2,344      | )      |   |   | -            |   |   |   |   |   |
|    Minimum      pension liability adjustment,                                |       |   |   |    |       |   |     |   |          |   |     |        |   |   |   |         |   |   |   |   |   |
|       net      of tax of ($396,323)                           | -          |   |   |    | -          |   |     |   | -             |   |     | 674,820     |   |   |   | -            |   |   |   |   |   |
|           Total      comprehensive income |       |   |   |    |       |   |     |   |          |   |     |        |   |   |   |         |   |   |   | 13,155,063 |   |
| Stock      split four-for-three                                                             | 398,220    |   |   |    | (398,220   | )      |     |   | -             |   |     | -           |   |   |   | -            |   |   |   | - |   |
| Cash      in lieu of fractional shares                                                      | -          |   |   |    | (1,642     | )      |     |   | -             |   |     | -           |   |   |   | -            |   |   |   | (1,642 | ) |
| Dividends      paid, $.1518 per share                                                       | -          |   |   |    | -          |   |     |   | (2,344,810    | )      |     | -           |   |   |   | -            |   |   |   | (2,344,810 | ) |
| Dividend      declared, $.055 per share                                                     | -          |   |   |    | -          |   |     |   | (827,147      | )      |     | -           |   |   |   | -            |   |   |   | (827,147 | ) |
| Stock-based      compensation                                                               | -          |   |   |    | 510,108    |   |     |   | -             |   |     | -           |   |   |   | -            |   |   |   | 510,108 |   |
| Stock      option transactions                                                              | -          |   |   |    | 351,557    |   |     |   | -             |   |     | -           |   |   |   | 730,278      |   |   |   | 1,081,835 |   |
| Purchase      of 51,205 treasury shares                                                     | -          |   |   |    | -          |   |     |   | -             |   |     | -           |   |   |   | (630,515     | )      |   |   | (630,515 | ) |
| Treasury      share retirement (900,000 shares)                                             | (90,000    | )      |   |    | (6,462,000 | )      |     |   | -             |   |     | -           |   |   |   | 6,552,000    |   |   |   | - |   |
| Stock      option tax loss                                                                  | -          |   |   |    | (12,856    | )      |     |   | -             |   |     | -           |   |   |   | -            |   |   |   | (12,856 | ) |
| Balances,      January 31, 2008                                                             | 1,592,881  |   |   |    | 1,897,655  |   |     |   | 83,267,096    |   |     | 1,340,427   |   |   |   | (4,854,891   | )      |   |   | 83,243,168 |   |
| Comprehensive      income:                                                                  |       |   |   |    |       |   |     |   |          |   |     |        |   |   |   |         |   |   |   |   |   |
|    Net      income                                                           | -          |   |   |    | -          |   |     |   | 9,861,065     |   |     | -           |   |   |   | -            |   |   |   |   |   |
|    Pension      measurement                                                  | -          |   |   |    | -          |   |     |   | 7,969         |   |     | -           |   |   |   | -            |   |   |   |   |   |
|    Foreign      currency translation adjustment                              | -          |   |   |    | -          |   |     |   | -             |   |     | (771,445    | )      |   |   | -            |   |   |   |   |   |
|    Interest      rate swap, net of tax of $67,972                            | -          |   |   |    | -          |   |     |   | -             |   |     | (115,736    | )      |   |   | -            |   |   |   |   |   |
|    Securities      available for sale, net of tax of ($537)                  | -          |   |   |    | -          |   |     |   | -             |   |     | 914         |   |   |   | -            |   |   |   |   |   |
|    Minimum      pension liability adjustment,                                |       |   |   |    |       |   |     |   |          |   |     |        |   |   |   |         |   |   |   |   |   |
|       net      of tax of  $2,806,393                | -          |   |   |    | -          |   |     |   | -             |   |     | (4,778,453  | )      |   |   | -            |   |   |   |   |   |
|           Total      comprehensive income |       |   |   |    |       |   |     |   |          |   |     |        |   |   |   |         |   |   |   | 4,204,314 |   |
| Dividends      paid, $.165 per share                                                        | -          |   |   |    | -          |   |     |   | (2,532,815    | )      |     | -           |   |   |   | -            |   |   |   | (2,532,815 | ) |
| Dividend      declared, $.06 per share                                                      | -          |   |   |    | -          |   |     |   | (876,007      | )      |     | -           |   |   |   | -            |   |   |   | (876,007 | ) |
| Stock-based      compensation                                                               | -          |   |   |    | 432,204    |   |     |   | -             |   |     | -           |   |   |   | -            |   |   |   | 432,204 |   |
| Stock      option transactions                                                              | -          |   |   |    | 46,769     |   |     |   | -             |   |     | -           |   |   |   | 1,865,629    |   |   |   | 1,912,398 |   |
| Purchase      of 731,735 treasury shares                                                    | -          |   |   |    | -          |   |     |   | -             |   |     | -           |   |   |   | (7,694,333   | )      |   |   | (7,694,333 | ) |
| Stock      option tax benefit                                                               | -          |   |   |    | 88,552     |   |     |   | -             |   |     | -           |   |   |   | -            |   |   |   | 88,552 |   |
| Common      share adjustment                                                                | (13        | )      |   |    | 13         |   |     |   | -             |   |     | -           |   |   |   | -            |   |   |   | - |   |
| Balances,      January 31, 2009                                                             | $1,592,868 |   |   |    | $2,465,193 |   |     |   | $89,727,308   |   |     | ($4,324,293 | )      |   |   | ($10,683,595 | )      |   |   | $78,777,481 |   |

----

Index

CONSOLIDATED BUSINESS SEGMENT DATA

|                                                                   |   | Years      ended January  31, |
|------------------------------------------------------------------------|--------|-----------------------------------------|
|                                                                   |   | 2009                                    |   | 2008 |   | 2007 |
| Net      sales to unaffiliated customers                               |   |                                    |   |   |   |   |
| Product      recovery/pollution control technologies                   |   | $49,968,918                             |   | $56,897,328 |   | $47,685,248 |
| Fluid      handling technologies                                       |   | 30,414,765                              |   | 27,578,301 |   | 26,099,803 |
| Mefiag      filtration technologies                                    |   | 11,183,054                              |   | 11,543,563 |   | 8,872,909 |
| Filtration/purification      technologies                              |   | 11,825,189                              |   | 10,848,657 |   | 10,847,544 |
|                                                                   |   | $103,391,926                            |   | $106,867,849 |   | $93,505,504 |
|    Includes      foreign sales of:                      |   |                                    |   |   |   |   |
|    Product      recovery/pollution control technologies |   | $10,565,955                             |   | $14,559,153 |   | $8,470,879 |
|         Fluid handling technologies                          |   | 7,320,016                               |   | 6,669,921 |   | 7,017,331 |
|         Mefiag filtration technologies                       |   | 8,397,998                               |   | 8,773,134 |   | 6,876,443 |
|    Filtration/purification      technologies            |   | 241,926                                 |   | 205,835 |   | 186,722 |
|                                                                   |   | $26,525,895                             |   | $30,208,043 |   | $22,551,375 |
|                                                                   |   |                                    |   |   |   |   |
| Income      from operations                                            |   |                                    |   |   |   |   |
| Product      recovery/pollution control technologies                   |   | $5,556,919                              |   | $6,573,097 |   | $4,339,795 |
| Fluid      handling technologies                                       |   | 6,848,148                               |   | 5,895,780 |   | 4,362,276 |
| Mefiag      filtration technologies                                    |   | 488,514                                 |   | 868,252 |   | 257,256 |
| Filtration/purification      technologies                              |   | 1,163,498                               |   | 746,422 |   | 797,748 |
| Gain      on sale of building                                          |   | -                                       |   | 3,513,940 |   | - |
|                                                                   |   | $14,057,079                             |   | $17,597,491 |   | $9,757,075 |
|                                                                   |   |                                    |   |   |   |   |
| Depreciation      and amortization expense                             |   |                                    |   |   |   |   |
| Product      recovery/pollution control technologies                   |   | $538,867                                |   | $511,350 |   | $473,354 |
| Fluid      handling technologies                                       |   | 770,072                                 |   | 655,048 |   | 632,464 |
| Mefiag      filtration technologies                                    |   | 365,025                                 |   | 324,917 |   | 267,899 |
| Filtration/purification      technologies                              |   | 250,647                                 |   | 247,310 |   | 228,421 |
|                                                                   |   | $1,924,611                              |   | $1,738,625 |   | $1,602,138 |
|                                                                   |   |                                    |   |   |   |   |
| Capital      expenditures                                              |   |                                    |   |   |   |   |
| Product      recovery/pollution control technologies                   |   | $551,789                                |   | $3,543,346 |   | $252,777 |
| Fluid      handling technologies                                       |   | 431,402                                 |   | 1,171,855 |   | 2,237,574 |
| Mefiag      filtration technologies                                    |   | 213,985                                 |   | 90,271 |   | 1,414,164 |
| Filtration/purification      technologies                              |   | 128,160                                 |   | 378,871 |   | 156,937 |
|                                                                   |   | 1,325,336                               |   | 5,184,343 |   | 4,061,452 |
| Corporate                                                              |   | 255,192                                 |   | 272,075 |   | 337,458 |
|                                                                   |   | $1,580,528                              |   | $5,456,418 |   | $4,398,910 |
|                                                                   |   |                                    |   |   |   |   |
| Identifiable      assets at January 31                                 |   |                                    |   |   |   |   |
| Product      recovery/pollution control technologies                   |   | $39,623,284                             |   | $40,509,227 |   | $34,907,323 |
| Fluid      handling technologies                                       |   | 22,056,812                              |   | 22,401,768 |   | 21,667,719 |
| Mefiag      filtration technologies                                    |   | 11,410,677                              |   | 12,810,694 |   | 11,602,197 |
| Filtration/purification      technologies                              |   | 9,369,905                               |   | 8,877,725 |   | 8,912,142 |
|                                                                   |   | 82,460,678                              |   | 84,599,414 |   | 77,089,381 |
| Corporate                                                              |   | 22,291,626                              |   | 24,811,489 |   | 19,652,276 |
|                                                                   |   | $104,752,304                            |   | $109,410,903 |   | $96,741,657 |

----

Index

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

| NOTE      1: | NATURE      OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING    POLICIES |
|--------------|-----------------------------------------------------------------------------|

----

Index

|                            | Years            |   |
|---------------------------------|------------------|--------|
| Buildings      and improvements | 10-39            |   |
| Machinery      and equipment    |   5-10 |   |
| Furniture      and fixtures     | 5-7              |   |
| Automotive      equipment       | 3                |   |

|                                     |   | Product      Recovery/ |   |                |         |   |   | Mefiag       |    |   | Filtration/  |   |       |   |   |
|------------------------------------------|--------|------------------------|--------|---------------------|--------------|--------|--------|--------------|---------|--------|-------------------|--------|------------|--------|--------|
|                                     |   | Pollution      Control |   | Fluid      Handling | Filtration   |   |   | Purification |    |   |              |   |
|                                |   | Technologies           |   | Technologies        | Technologies |   |   | Technologies |    |   | Total             |   |
| Balance      as of February 1, 2008      |   |                   |   | $15,706,667         |         |   |   |         | $11,542 |   |              |   | $1,732,482 |   |   |   | $3,348,222 |   |   |   | $20,798,913 |   |
| Goodwill      acquired during the period |   |                   |   | -                   |         |   |   |         | -       |   |              |   | -          |   |   |   | - |   |   |   | - |   |
| Balance      as of January 31, 2009      |   |                   |   | $15,706,667         |         |   |   |         | $11,542 |   |              |   | $1,732,482 |   |   |   | $3,348,222 |   |   |   | $20,798,913 |   |

----

Index

----

Index

|                                | 2009              |      | 2008   |      | 2007   |
|-------------------------------------|-------------------|-----------|--------|-----------|--------|
| Cash      paid during the year for: |              |      |   |      |   |
|                                | Interest          | $248,970  |   | $331,555  |   | $357,130 |
|                                | Income      taxes | 4,305,042 |   | 4,829,003 |   | 3,824,715 |

----

Index

----

Index

| NOTE      2: | FAIR      VALUE OF FINANCIAL INSTRUMENTS |
|--------------|------------------------------------------|

|                 | January      31, |
|----------------------|------------------|
|                 | 2009             |   |   |   | 2008 |
| Fair      value      | $4,495,781       |   |   |   | $6,084,990 |
| Carrying      amount | 4,499,270        |   |   |   | 6,104,164 |

| NOTE      3: | INVENTORIES |
|--------------|-------------|

|                 | January      31, |
|----------------------|------------------|
|                 | 2009             |   |   |   | 2008 |
| Raw      materials   | $15,416,249      |   |   |   | $15,817,283 |
| Work      in process | 2,013,789        |   |   |   | 2,384,413 |
| Finished      goods  | 2,806,827        |   |   |   | 3,056,531 |
|                 | $20,236,865      |   |   |   | $21,258,227 |

----

Index

| NOTE      4: | PROPERTY,      PLANT AND EQUIPMENT |
|--------------|------------------------------------|

|                               | January      31, |
|------------------------------------|------------------|
|                               | 2009             |   |   |   | 2008 |
| Land                               | $2,411,223       |   |   |   | $2,499,767 |
| Buildings      and improvements    | 19,534,270       |   |   |   | 19,454,967 |
| Machinery      and equipment       | 12,830,962       |   |   |   | 12,909,550 |
| Furniture      and fixtures        | 4,817,874        |   |   |   | 4,621,225 |
| Automotive      equipment          | 1,525,829        |   |   |   | 1,559,604 |
| Construction      in progress      | 221,660          |   |   |   | 376,324 |
|                               | 41,341,818       |   |   |   | 41,421,437 |
| Less      accumulated depreciation | 21,952,221       |   |   |   | 21,187,610 |
|                               | $19,389,597      |   |   |   | $20,233,827 |

----

Index

| NOTE      5: | DEBT |
|--------------|------|

|                                                          | January      31,                                               |   | January      31, |
|---------------------------------------------------------------|----------------------------------------------------------------|--------|------------------|
|                                                          |                                                           |   | 2009             |   |   |   |   |   | 2008 |   |   |
| Bond      payable, bank, payable in quarterly installments of |                                                           |   |             |   |   |   |   |   |   |   |   |
|                                                          | $58,460,      plus interest at a rate of 16 basis points below |   |             |   |   |   |   |   |   |   |   |   |
|                                                          | the      ninety day LIBOR rate (effective interest rate of     |   |             |   |   |   |   |   |   |   |   |   |
|                                                          | 1.02%      at January 31, 2009), maturing April, 2021,         |   |             |   |   |   |   |   |   |   |   |   |
|                                                          | collateralized      by the Telford, PA building                |   |             | $2,864,562 |   |   |   |   |   | $3,098,404 |   |   |
|                                                          |                                                           |   |             |   |   |   |   |   |   |   |   |
| Note      payable, bank, payable in quarterly installments of |                                                           |   |             |   |   |   |   |   |   |   |   |
|                                                          | $300,000,      plus interest at a rate of 75 basis points over |   |             |   |   |   |   |   |   |   |   |   |
|                                                          | the      ninety day LIBOR rate (effective interest rate of     |   |             |   |   |   |   |   |   |   |   |   |
|                                                          | 1.93%      at January 31, 2009), matured November 4, 2008      |   |             | - |   |   |   |   |   | 1,200,000 |   |   |
|                                                          |                                                           |   |             |   |   |   |   |   |   |   |   |
| Note      payable, bank, payable in quarterly installments of |                                                           |   |             |   |   |   |   |   |   |   |   |
|                                                          | $32,013      (25,000 Euro), plus interest at a fixed rate of   |   |             |   |   |   |   |   |   |   |   |   |
|                                                          | 3.82%,      maturing January, 2016                             |   |             | 896,350 |   |   |   |   |   | 1,189,280 |   |   |
|                                                          |                                                           |   |             |   |   |   |   |   |   |   |   |
| Line      of credit, $384,150 (300,000 Euro), payable upon    |                                                           |   |             |   |   |   |   |   |   |   |   |
|                                                          | demand,      plus interest at a rate of 70 basis points over   |   |             |   |   |   |   |   |   |   |   |   |
|                                                          | the      thirty day EURIBOR rate (effective interest rate of   |   |             |   |   |   |   |   |   |   |   |   |
|                                                          |  2.45%      at January 31, 2009)                          |   |             | 384,150 |   |   |   |   |   | 445,980 |   |   |
|                                                          |                                                           |   |             |   |   |   |   |   |   |   |   |
|                                                          |                                                           |   | 4,145,062        |   |   |   |   |   | 5,933,664 |   |   |
| Less      current portion                                     |                                                           |   | 746,042          |   |   |   |   |   | 2,028,482 |   |   |
|                                                          |                                                           |   | 3,399,020        |   |   |   |   |   | 3,905,182 |   |   |
| Fair      market value of interest rate swap liability        |                                                           |   | 354,208          |   |   |   |   |   | 170,500 |   |   |
| Long-term      portion                                        |                                                           |   | $3,753,228       |   |   |   |   |   | $4,075,682 |   |   |

----

Index

| Year      Ending |       |   |
|------------------|------------|--------|
| January      31, |       |   |
| 2010             | $746,042   |   |
| 2011             | 361,892    |   |
| 2012             | 361,892    |   |
| 2013             | 361,892    |   |
| 2014             | 361,892    |   |
| Thereafter       | 1,951,452  |   |
|             | $4,145,062 |   |

| NOTE      6: | ACCUMULATED      OTHER COMPREHENSIVEINCOME/(LOSS) |
|--------------|---------------------------------------------------|

|                                                                |        2009 |   | 2008       |   |
|---------------------------------------------------------------------|------------------|--------|------------|--------|
| Interest      rate swap, net of tax                                 | ($223,151        | )      | ($107,415  | )      |
| Unrealized      (loss) on securities available-for-sale, net of tax | -                |   | (914       | )      |
| Foreign      currency translation adjustment                        | 680,697          |   | 1,452,142  |   |
| Minimum      pension liability adjustment, net of tax               | (4,781,839       | )      | (3,386     | )      |
|                                                                | ($4,324,293      | )      | $1,340,427 |   |

| NOTE      7: | SHAREHOLDERS'      EQUITY |
|--------------|---------------------------|

----

Index

| NOTE      8: | STOCK-BASED      COMPENSATION |
|--------------|-------------------------------|

|                               |  Fiscal      Years Ended |
|------------------------------------|-------------------------------|
|                               | January      31,              |
|                               | 2009                          |   | 2008 |
|                               |                          |   |   |
|  Expected      term (years)   | 5.0                           |   | 5.0 |
|  Risk-free      interest rate | 3.53%      - 4.50%            |   | 4.50%      - 4.58% |
|  Expected      volatility     | 29%                           |   | 29%      - 30% |
|  Dividend      yield          | 1.86%      - 1.88%            |   | 1.86%      - 3.39% |

----

Index

|     |                                 |      |   |                |              |                 |   | Weighted |   |   |   |
|----------|--------------------------------------|-----------|--------|---------------------|-------------------|----------------------|--------|----------|--------|--------|--------|
|     |                                 |      |   | Weighted            | Average           |                 |   |     |
|     |                                 |      |   | Average             | Remaining         | Aggregate            |
|     |                                 | Shares    |   | Exercise      Price | Life      (years) | Intrinsic      Value |
| Options: |                                 |      |   |                |              |                 |   |     |   |   |   |   |
|     | Outstanding      at February 1, 2008 | 1,338,281 |   |                | $8.5972           |                 |   | 7.14     |   |   |   |   |   |
|     | Granted                              | 206,600   |   |                | 11.3450           |                 |   |     |   |   |   |   |   |
|     | Forfeited                            | 58,404    |   |                | 9.4811            |                 |   |     |   |   |   |   |   |
|     | Expired                              | -         |   |                | -                 |                 |   |     |   |   |   |   |   |
|     | Exercised                            | 292,944   |   |                | 6.5282            |                 |   |     |   |   |   |   |   |
|     | Outstanding      at January 31, 2009 | 1,193,533 |   |                | $9.5374           |                 |   | 7.28     |   |   |   | $1,939,765 |   |
|     |                                 |      |   |                |              |                 |   |     |   |   |   |   |   |
|     | Exercisable      at January 31, 2009 | 785,545   |   |                | $8.5647           |                 |   | 7.28     |   |   |   | $1,935,404 |   |

|                      |   | Options      Outstanding |                  | Options      Exercisable |
|---------------------------|--------|--------------------------|-----------------------|--------------------------|
|                      |   |                     | Weighted      Average |                     |   |   |   |
|                      |   |                     | Remaining             | Weighted      Average    |   |   | Weighted      Average |
|                      |   | Shares                   | Life      (years)     | Exercise      Price      |   | Shares | Exercise      Price |
| Range      of prices:     |   |                     |                  |                     |   |   |   |   |   |   |   |   |
| $4.11      – 4.99   |   | 9,956                    |                  | 0.87                     |   | $4.1659 |   |   | 9,956 |   | $4.1659 |   |
| $5.00      – 5.49   |   | 24,180                   |                  | 2.07                     |   | 5.1047 |   |   | 24,180 |   | 5.1047 |   |
| $5.50      – 6.99   |   | 146,259                  |                  | 3.61                     |   | 5.5308 |   |   | 146,259 |   | 5.5308 |   |
| $7.00      – 8.99   |   | 128,896                  |                  | 6.06                     |   | 7.4110 |   |   | 128,896 |   | 7.4110 |   |
| $9.00      – 9.99   |   | 282,237                  |                  | 6.17                     |   | 9.3049 |   |   | 282,237 |   | 9.3049 |   |
| $10.00      – 10.99 |   | 190,005                  |                  | 7.88                     |   | 10.8975 |   |   | 125,554 |   | 10.8975 |   |
| $11.00      – 11.99 |   | 412,000                  |                  | 9.36                     |   | 11.5469 |   |   | 68,463 |   | 11.7500 |   |
|                      |   | 1,193,533                |                  | 7.28                     |   | $9.5374 |   |   | 785,545 |   | $8.5647 |   |

----

Index

| NOTE      9: | INCOME      TAXES |
|--------------|-------------------|

|                            | 2009       |   | 2008       |   | 2007       |
|---------------------------------|------------|--------|------------|--------|------------|
| Current                         |       |   |       |   |       |
|     Federal | $2,880,591 |   | $4,261,462 |   | $2,884,686 |
|     State   | 463,805    |   | 560,130    |   | 409,160    |
|     Foreign | 139,087    |   | 164,664    |   | 91,660     |
|                            | 3,483,483  |   | 4,986,256  |   | 3,385,506  |
| Deferred                        | 913,356    |   | 1,369,460  |   | 26,203     |
|                            | $4,396,839 |   | $6,355,716 |   | $3,411,709 |

|                                                       | 2009        |   | 2008              |    |
|------------------------------------------------------------|-------------|--------|-------------------|---------|
| Deferred      tax assets                                   |        |   |              |    |
|     Inventory      cost capitalization | $135,618    |   | $134,050          |    |
|     Pension      cost                  | 3,296,978   |   | 797,591           |    |
|     Non-compete      agreements        | 96,100      |   | 138,441           |    |
| Other                                                      | 517,998     |   | 499,163           |    |
| Total      deferred tax assets                             | 4,046,694   |   | 1,569,245         |    |
|                                                       |        |   |              |    |
| Deferred      tax liabilities                              |        |   |              |    |
| Property,      plant and equipment                         | 1,890,240   |   | 1,660,604         |    |
| Inventory      - Dean Pump                                 | 363,722     |   | 363,724           |    |
| Prepaid      expenses                                      | 226,635     |   | 245,982           |    |
| Goodwill                                                   | 2,942,895   |   | 2,628,680         |    |
| Total      deferred tax liabilities                        | 5,423,492   |   | 4,898,990         |    |
| Net      deferred tax (liabilities)                        | ($1,376,798 | )      |  ($3,329,745 | )  |

|                                                 | 2009                                  |   |                                           | 2008    |   |           |   2007 |                                         |
|------------------------------------------------------|---------------------------------------|--------|------------------------------------------------|---------|--------|----------------|------------------|----------------------------------------------|
| Computed      expected                               |                                  |   |                                           |    |   |           |             |                                         |   |   |   |   |   |   |
|     federal      tax expense     | $4,847,687                            |   | 34.0                                           | %  |   | $6,239,308     |             | 34.2                                         | %  |   | $3,515,094 |   | 34.0 | % |
| Manufacturing      exemption                         |  (187,029                        | )      | (1.4                                           | )  |   |  (291,025 | )                | (1.6                                         | ) |   | (108,014 | ) | (1.0 | ) |
| State      income taxes,                             |                                  |   |                                           |    |   |           |             |                                         |   |   |   |   |   |   |
|     net      of federal          |                                  |   |                                           |    |   |           |             |                                         |   |   |   |   |   |   |
|     income      tax benefit      | 306,111                               |   | 2.1                                            |    |   | 369,686        |             | 2.0                                          |   |   | 284,648 |   | 2.7 |   |
| Research      and                                    |                                  |   |                                           |    |   |           |             |                                         |   |   |   |   |   |   |
|     development      tax credits | (105,463                              | )      | (.7                                            | )  |   | (104,435       | )                | (.6                                          | )  |   | (136,500 | ) | (1.3 | ) |
| Stock      option tax benefit                        | (591,550                              | )      | (4.1                                           | )  |   | -              |             | -                                            |   |   | - |   | - |   |
| Other                                                |      127,083 |   | .9                                             |    |   | 142,182        |             |        .8 |   |   | (143,519 | ) |        (1.4 | ) |
| Effective      income taxes                          | $4,396,839                            |   |        30.8 | %  |   | $6,355,716     |             | 34.8                                         | % |   | $3,411,709 |   | 33.0 | % |

----

Index

|                                             | 2009     |   |
|--------------------------------------------------|----------|--------|
| Balance      at February 1, 2008                 | $179,000 |   |
| Increases      in tax positions for prior years  | -        |   |
| Decreases      in tax positions for prior years  | (174,000 | )      |
| Increases      in tax positions for current year | 35,000   |   |
| Balance      at January 31, 2009                 | $40,000  |   |

|                 | Open      Tax Year           |
|----------------------|------------------------------|
|                 |                         |   | Examination      Not Yet |
|                 | Examination      in Progress |   | Initiated |
| United      States   |                         |   |   |
| Federal              | 2008                         |   | 2009 |
| State                | 2006      – 2007       |   | 2008      – 2009 |
| Canada               | n/a                          |   | 2005      – 2009 |
| The      Netherlands | n/a                          |   | 2005      –2009 |

----

Index

| NOTE      10: | LEASES AND OTHER  COMMITMENTS |
|---------------|-------------------------------|

| 2010 | $88,779 |   |
|------|---------|--------|
| 2011 | 55,674  |   |
| 2012 | 5,571   |   |

| NOTE      11: | EMPLOYEE      BENEFIT PLANS |
|---------------|----------------------------------|

|                                                  |  2009 |    |   | 2008       |    |   | 2007       |   |
|-------------------------------------------------------|------------|---------|--------|------------|---------|--------|------------|--------|
| Service      cost - benefits earned during the period | $144,072   |    |   | $148,258   |    |   | $708,246   |   |
| Interest      cost on projected benefit obligation    | 1,349,383  |    |   | 1,040,164  |    |   | 1,071,627  |   |
| Expected      return on assets                        | (1,653,966 | )       |   | (1,259,503 | )  |   | (1,169,858 | )      |
| Amortization                                          | 39,006     |    |   | 74,032     |    |   | 186,051    |   |
| Curtailment      loss                                 | 51,044     |    |   | -          |    |   | 234,180    |   |
|                                                  | ($70,461   | )  |   | $2,951     |    |   | $1,030,246 |   |

----

Index

|                                                                      | 2009        |   | 2008        |   |
|---------------------------------------------------------------------------|-------------|--------|-------------|--------|
|                                                                      |        |   |        |   |
| Change      in benefit obligation:                                        |        |   |        |   |
| Benefit      obligation at beginning of year                              | $17,976,905 |   | $18,512,657 |   |
|     Service      cost                                 | 144,072     |   | 148,258     |   |
|     Interest      cost                                | 1,349,383   |   | 1,040,164   |   |
|     Amendments                                        | -           |   | 16,167      |   |
|     Actuarial      (gain)                             | (80,183     | )      | (792,843    | )      |
|     Curtailments                                      | (209,217    | )      | -           |   |
|     Benefits      paid                                | (1,135,731  | )      | (947,498    | )      |
| Benefit      obligation at end of year                                    | $18,045,229 |   | $17,976,905 |   |
|                                                                      |        |   |        |   |
| Change      in plan assets:                                               |        |   |        |   |
| Fair      value of plan assets at beginning of year                       | $15,815,882 |   | $15,182,042 |   |
|     Actual      gain/(loss) on plan assets            | (6,310,330  | )      | 1,479,938   |   |
|     Employer      contribution                        | 891,555     |   | 101,400     |   |
|     Benefits      paid                                | (1,135,731  | )      | (947,498    | )      |
| Fair      value of plan assets at end of year                             | $9,261,376  |   | $15,815,882 |   |
|                                                                      |        |   |        |   |
| Funded      status:                                                       | ($8,783,853 | )      | ($2,161,023 | )      |
|     Unrecognized      actuarial (gain)/loss           | 7,591,063   |   | (268,113    | )      |
|     Unrecognized      transition (asset)              | -           |   | (117        | )      |
|     Unrecognized      prior service costs             | (843        | )      | 273,604     |   |
| Net      amount recognized                                                | ($1,193,633 | )      | ($2,155,649 | )      |
|                                                                      |        |   |        |   |
| Amounts      recognized in the consolidated balance sheet consist of:     |        |   |        |   |
|     Accrued      benefit liability – short term | ($104,639   | )      | ($99,377    | )      |
|     Accrued      benefit liability – long term  | (8,679,214  | )      | (2,061,646  | )      |
|     Accumulated      other comprehensive gain         | 7,590,220   |   | 5,374       |   |
| Net      amount recognized                                                | ($1,193,633 | )      | ($2,155,649 | )      |

| Year      Ending |        |   |
|------------------|-------------|--------|
| January      31, |        |   |
| 2010             | $1,048,539  |   |
| 2011             | 1,085,996   |   |
| 2012             | 1,160,462   |   |
| 2013             | 1,210,134   |   |
| 2014             | 1,233,450   |   |
| 2015      - 2019 | 6,870,734   |   |
|             | $12,609,315 |   |

----

Index

|                                             | 2009   | 2008   | 2007   |
|--------------------------------------------------|--------|--------|--------|
| Discount      rate                               | 6.50%  | 6.25%  | 5.75%  |
| Expected      long-term rate of                  |   |   |   |
|     return      on assets    | 8.50%  | 8.50%  | 8.50%  |
| Rate      of increase in                         |   |   |   |
|     compensation      levels |   |   |   |
|     (where      applicable)  | 4.50%  | 4.50%  | 4.50%  |

|                                          | 2009   | 2008   | 2007                      |
|-----------------------------------------------|--------|--------|---------------------------|
| Discount      rate                            | 6.25%  | 5.75%  | 5.75%                     |
| Expected      long-term rate of               |   |   |                      |
|     return      on assets | 8.50%  | 8.50%  | 8.50%                     |
| Rate      of increase in                      |   |   |                      |
| compensation      levels                      |   |   | 3%      for One Year      |
| (where      applicable)                       | 4.50%  | 4.50%  | Then      4.50%Thereafter |

|                                                                                     | January,    31 |   | October      31, |
|------------------------------------------------------------------------------------------|----------------|--------|------------------|
|                                                                                     |           |   | 2009             |   |   |   |   |   | 2007 |   |   |
| Target      allocation:                                                                  |           |   |             |   |   |   |   |   |   |   |   |
|            Equity      securities |           | 40-80% |             |   |   |   | 40-80% |   |   |
|            Debt      securities   |           | 20-60% |             |   |   |   | 20-60% |   |   |
|                                                                                     |           |   |             |   |   |   |   |   |   |   |   |
| Asset      allocation:                                                                   |           |   |             |   |   |   |   |   |   |   |   |
|           Equity      securities       |           | 77%    |             |   |   |   | 80% |   |   |
|           Debt      securities         |           | 23%    |             |   |   |   | 20% |   |   |
|           Total                        |           |   | 100%             |   |   |   |   | 100% |   |   |

----

Index

----

Index

| 1997      Plan                                 | 2009           |   | 2008     |   | 2007     |
|------------------------------------------------|----------------|--------|----------|--------|----------|
| Options      outstanding, beginning            | 242,858        |   | 267,038  |   | 284,106  |
| Grants                                         | -              |   | -        |   | -        |
| Exercises                                      | 129,791        |   | 24,180   |   | 17,068   |
| Cancellations                                  | -              |   | -        |   | -        |
| Options      outstanding, ending               | 113,067        |   | 242,858  |   | 267,038  |
|                                           |           |   |     |   |     |
| Options      price range at January 31         | $4.1133        |   | $4.1133  |   | $4.1133  |
|                                           | to             |   | to       |   | to       |
|                                           | $9.6440        |   | $9.6440  |   | $9.6440  |
|                                           |           |   |     |   |     |
| Options      exercisable at January 31         | 113,067        |   | 242,858  |   | 267,038  |
| Options      available for grant at January 31 | 0              |   | 0        |   | 0        |
| 2001      Plan                                 | 2009           |   | 2008     |   | 2007     |
| Options      outstanding, beginning            | 682,973        |   | 784,703  |   | 796,904  |
| Grants                                         | -              |   | 14,711   |   | 14,465   |
|     Exercises              | 143,820        |   | 112,397  |   | 7,110    |
| Cancellations                                  | 38,670         |   | 4,044    |   | 19,556   |
| Options      outstanding, ending               | 500,483        |   | 682,973  |   | 784,703  |
|                                           |           |   |     |   |     |
| Options      price range at January 31         | $5.5181        |   | $5.5181  |   | $5.5181  |
|                                           | to             |   | to       |   | to       |
|                                           | $10.8975       |   | $10.8975 |   | $10.8975 |
|                                           |           |   |     |   |     |
| Options      exercisable at January 31         | 492,979        |   | 659,372  |   | 695,101  |
| Options      available for grant at January 31 | 38,670         |   | 0        |   | 10,667   |
| 2005      Plan                                 | 2009           |   | 2008     |   | 2007     |
| Options      outstanding, beginning            | 412,450        |   | 224,206  |   | -        |
| Grants                                         | 206,600        |   | 201,089  |   | 224,206  |
| Exercises                                      | 19,333         |   | -        |   | -        |
| Cancellations                                  | 19,734         |   | 12,845   |   | -        |
| Options      outstanding, ending               | 579,983        |   | 412,450  |   | 224,206  |
|                                           |           |   |     |   |     |
| Options      price at January 31               | $10.8975       |   | $10.8975 |   | $10.8975 |
|                                           | to             |   | to       |   |     |
|                                           |  $11.7500 |   | $11.7500 |   |     |
|                                           |           |   |     |   |     |
| Options      exercisable at January 31         | 179,499        |   | 70,014   |   | -        |
| Options      available for grant at January 31 | 289,572        |   | 476,438  |   | 664,682  |
| 2008      Plan                                 | 2009           |   | 2008     |   | 2007     |
| Options      outstanding, beginning            | -              |   | -        |   | -        |
| Grants                                         | -              |   | --       |   | -        |
| Exercises                                      | -              |   | -        |   | -        |
| Cancellations                                  | -              |   | -        |   | -        |
| Options      outstanding, ending               | -              |   | -        |   | -        |
|                                           |           |   |     |   |     |
| Options      price at January 31               | -              |   | -        |   | -        |
|                                           |           |   |     |   |     |
|                                           |           |   |     |   |     |
|                                           |           |   |     |   |     |
| Options      exercisable at January 31         | -              |   | -        |   | -        |
| Options      available for grant at January 31 | 750,000        |   | 0        |   | 0        |

----

Index

|                                | 2009     |   | 2008     |   | 2007     |   |
|-------------------------------------|----------|--------|----------|--------|----------|--------|
| Options      outstanding, beginning | $8.5920  |   | $8.0169  |   | $7.0785  |   |
| Grants                              | $11.3450 |   | $11.7500 |   | $10.8975 |   |
| Exercises                           | $6.5282  |   | $7.9210  |   | $6.0870  |   |
| Cancellations                       | $9.4811  |   | $10.5059 |   | $8.9925  |   |
| Options      outstanding, ending    | $9.5374  |   | $8.5972  |   | $8.0169  |   |

| NOTE      12: | OTHER      INCOME, NET |
|---------------|------------------------|

|                                      |  2009 |   |   2008 |   | 2007     |   |
|-------------------------------------------|------------|--------|------------------|--------|----------|--------|
| Interest      income                      | $377,018   |   | $958,067         |   | $962,296 |   |
| Other      miscellaneous income/(expense) | 52,056     |   | 10,648           |   | (29,706  | )      |
|                                      | $429,074   |   | $968,715         |   | $932,590 |   |

| NOTE      13: | BUSINESS      SEGMENT DATA |
|---------------|----------------------------|

----

Index

----

Index

| NOTE      14: | GEOGRAPHIC INFORMATION |
|---------------|------------------------|

|                         | 2009         |   | 2008         |   | 2007             |
|------------------------------|--------------|--------|--------------|--------|------------------|
| Net      sales:              |         |   |         |   |             |
| United      States           | $76,866,031  |   | $76,659,806  |   | $70,954,129      |
| Foreign                      | 26,525,895   |   | 30,208,043   |   | 22,551,375       |
|                         | $103,391,926 |   | $106,867,849 |   | $93,505,504      |
|                         |         |   |         |   |             |
| Income      from operations: |         |   |         |   |             |
| United      States           | $10,712,796  |   | $13,518,133  |   | $7,628,754       |
| Foreign                      | 3,344,283    |   | 4,079,358    |   | 2,128,321        |
|                         | $14,057,079  |   | $17,597,491  |   |  $9,757,075 |
|                         |         |   |         |   |             |
| Total      assets:           |         |   |         |   |             |
| United      States           | $95,223,147  |   | $98,104,273  |   | $86,820,188      |
| Foreign                      | 9,529,157    |   | 11,306,630   |   | 9,921,469        |
|                         | $104,752,304 |   | $109,410,903 |   | $96,741,657      |

----

Index

| NOTE      15: | CONTINGENCIES |
|---------------|---------------|

----

Index

QUARTERLY FINANCIAL DATA (Unaudited)

|                |   |   |           |   |   |              |   |            |   |   |   |    |   |       |   |   |   | Earnings        |   | Earnings        |
|---------------------|--------|--------|----------------|--------|--------|-------------------|--------|-----------------|--------|--------|--------|---------|--------|------------|--------|--------|--------|-----------------|--------|-----------------|
|                |   |   |           |   |   |              |   |            |   |   |   |    |   |       |   |   |   | Per      Share, |   | Per      Share, |
| 2009                |   |   | Net      Sales |   |   | Gross      Profit |   | Net      Income |   | Basic  |   | Diluted |
| First      Quarter  |   |   | $22,656,474    |   |   |              |   | $7,592,224      |   |   |   |    |   | $1,925,645 |   |   |   |            |   | $.13            |   |   |   |   |   | $.13 |   |   |   |
| Second      Quarter |   |   | 28,145,718     |   |   |              |   | 9,633,048       |   |   |   |    |   | 2,702,961  |   |   |   |            |   | .18             |   |   |   |   |   | .18 |   |   |   |
| Third      Quarter  |   |   | 27,979,483     |   |   |              |   | 10,245,087      |   |   |   |    |   | 3,011,366  |   |   |   |            |   | .20             |   |   |   |   |   | .20 |   |   |   |
| Fourth      Quarter |   |   | 24,610,251     |   |   |              |   | 8,630,637       |   |   |   |    |   | 2,221,093  |   |   |   |            |   | .15             |   |   |   |   |   | .15 |   |   |   |
|                |   |   |           |   |   |              |   |            |   |   |   |    |   |       |   |   |   |            |   |            |   |   |   |   |   |   |   |   |   |
|                |   |   |           |   |   |              |   |            |   |   |   |    |   |       |   |   |   | Earnings        |   | Earnings        |
|                |   |   |           |   |   |              |   |            |   |   |   |    |   |       |   |   |   | Per      Share, |   | Per      Share, |
| 2008                |   |   | Net      Sales |   |   | Gross      Profit |   | Net      Income |   | Basic  |   | Diluted |
| First      Quarter  |   |   | $21,373,563    |   |   |              |   | $7,158,505      |   |   |   |    |   | $3,721,751 |   |   |   |            |   | $.25            |   |   |   |   |   | $.24 |   |   |   |
| Second      Quarter |   |   | 26,102,277     |   |   |              |   | 8,935,050       |   |   |   |    |   | 1,927,268  |   |   |   |            |   | .13             |   |   |   |   |   | .13 |   |   |   |
| Third      Quarter  |   |   | 30,140,427     |   |   |              |   | 10,169,258      |   |   |   |    |   | 3,066,852  |   |   |   |            |   | .20             |   |   |   |   |   | .20 |   |   |   |
| Fourth      Quarter |   |   | 29,251,582     |   |   |              |   | 10,109,555      |   |   |   |    |   | 3,190,294  |   |   |   |            |   | .21             |   |   |   |   |   | .21 |   |   |   |

Item 9.  Changes in and Disagreements withAccountants on Accounting and Financial Disclosure:

Item 9A.  Controls andProcedures:

Item 9B.  OtherInformation:

----

Index

PART III

Item 10.  Directors, Executive Officers andCorporate Governance:

Item 11.  ExecutiveCompensation:

Item 12.  Security Ownership of CertainBeneficial Owners and Management and Related ShareholderMatters:

Item 13.  Certain Relationships and RelatedTransactions, and Director Independence:

Item 14.  Principal Accountant Fees andServices:

----

Index

PART IV

Item 15.  Exhibits and Financial StatementSchedules:

| (a)    | Exhibits      and Financial Statements and Schedules: |
|--------|-------------------------------------------------------|
|   |                                                  |   |
|   | (1)                                                   | Financial      Statements and Schedules: |
|   |                                                  |   |   |
|   |                                                  | Financial      statements filed as part of this report are listed in the Index to      Consolidated Financial Statements and Supplementary Data that appears on      page 28 of this report. |
|   |                                                  |   |
|   | (2)                                                   | Exhibits,      including those incorporated byreference: |

| Exhibit      No.  | Description |
|------------------------|-------------|
|                   |        |
|                   | (2)(c)      |   | Agreement      and Plan of Merger dated July 31, 2003 by and between Met-Pro Corporation,      a Delaware corporation, and Met-Pro Pennsylvania, Inc., a Pennsylvania      corporation, incorporated by reference to the Company’s Current Report on      Form 8-K filed on August 6, 2003. |
|                   |        |   |   |
|                   | (3)(f)      |   | Articles      of Incorporation of Met-Pro Corporation, a Pennsylvania corporation      formerly known as Met-Pro Pennsylvania, Inc., incorporated by reference to      the Company’s Current Report of Form 8-K filed on August 6,      2003. |
|                   |        |   |   |
|                   | (3)(g)      |   | By-Laws      of Met-Pro Corporation, a Pennsylvania corporation formerly known as      Met-Pro Pennsylvania, Inc., incorporated by reference to the Company’s      Current Report on Form 8-K filed on August 6, 2003. |
|                   |        |   |   |
|                   | (4)         |   | Shareholders’      Rights Plan, incorporated by reference to the Company’s Current Report on      Form 8-K filed on January 6, 2000. |
|                   |        |   |   |
|                   | (10)(b)     |   | The      1997 Stock Option Plan, incorporated by reference to the Company’s      Registration Statement on Form S-8 filed January 16,  1998.* |
|                   |        |   |   |
|                   | (10)(d)     |   | Amendment      No. 1 to the 1997 Stock Option Plan, incorporated by reference to the      Company’s Annual Report on Form 10-K filed on May 4,  2001.* |
|                   |        |   |   |
|                   | (10)(f)     |   | Key      Employee Severance Agreement between Met-Pro Corporation and Gary J.      Morgan, incorporated by reference to the Company’s Annual Report on Form      10-K filed on May 4, 2001.* |
|                   |        |   |   |
|                   | (10)(g)     |   | Key      Employee Severance Agreement between Met-Pro Corporation and Raymond J. De      Hont, incorporated by reference to the  Company’s Annual Report      on Form 10-K filed on May 4, 2001.* |
|                   |        |   |   |
|                   | (10)(i)     |   | Amendment      to Key Employee Severance Agreement between Met-Pro Corporation and Gary      J. Morgan, incorporated by reference to the Company’s Annual Report on      Form 10-K filed on May 4, 2001.* |
|                   |        |   |   |
|                   | (10)(j)     |   | The      Company’s Director’s Retirement Plan, incorporated by reference to the      Company’s Annual Report on Form 10-K filed on May 4,  2001.* |
|                   |        |   |   |
|                   | (10)(k)     |   | Amendment      No. 1 to the Company’s Director’s Retirement Plan, incorporated by      reference to the Company’s Annual Report on Form 10-K filed on May 4,      2001.* |
|                   |        |   |   |
|                   | (10)(l)     |   | Amendment      No. 2 to the Company’s Director’s Retirement Plan, incorporated by      reference to the Company’s Annual Report on Form 10-K filed on May 4,      2001.* |
|                   |        |   |   |
|                   | (10)(m)     |   | Restoration      Plan, effective February 1, 2000, incorporated by reference to the      Company’s Annual Report on Form 10-K filed on May 4,  2001.* |

----

Index

|  Exhibit No. | Description |
|-------------------|-------------|
|              |        |   |   |
|              | (10)(n)     |   | Amendment      No. 1 to the Company’s Restoration Plan, incorporated by reference to the      Company’s Annual Report on Form 10-K filed on May 4,  2001.* |
|              |        |   |   |
|              | (10)(o)     |   | Additional      1% Supplemental Executive Retirement Plan, effective February 1, 2000,      incorporated by reference to the Company’s Annual Report on Form 10-K      filed on May 4, 2001.* |
|              |        |   |   |
|              | (10)(p)     |   | The      2001 Equity Incentive Plan, incorporated by reference to the Company’s      Registration Statement on Form S-8 filed August 22,  2001.* |
|              |        |   |   |
|              | (10)(q)     |   | Year      2000 Employee Stock Purchase Plan, incorporated by reference to the      Company’s Registration Statement on Form S-8 filed on June 13, 2000,      subsequently withdrawn on Form RW filed on January 6,    2009.* |
|              |        |   |   |
|              | (10)(r)     |   | Salaried      Pension Plan Amended and Restated effective September 1, 2000,      incorporated by reference to the Company’s Annual Report on Form 10-K      filed on April 28, 2003.* |
|              |        |   |   |
|              | (10)(s)     |   | First      Amendment to the Company’s Salaried Pension Plan dated August 15, 2002,      incorporated by reference to the Company’s Annual Report on Form 10-K      filed on April 28, 2003.* |
|              |        |   |   |
|              | (10)(t)     |   | Second      Amendment to the Company’s Salaried Pension Plan dated October 23, 2002,      incorporated by reference to the Company’s Annual Report on Form 10-K      filed on April 28, 2003.* |
|              |        |   |   |
|              | (10)(u)     |   | Amendment      No. 3 to the Company’s Directors’ Retirement Plan dated as of February 24,      2003, incorporated by reference to the Company’s Annual Report on Form      10-K filed on April 28, 2003.* |
|              |        |   |   |
|              | (10)(v)     |   | Amendment      No. 1 to the Company’s Additional 1% Supplemental Executive Plan dated as      of March 21, 2003, incorporated by reference to the Company’s Annual      Report on Form 10-K filed on April 28, 2003.* |
|              |        |   |   |
|              | (10)(w)     |   | Directors      Retirement Plan Trust dated as of February 11, 2000, incorporated by      reference to the Company’s Annual Report on Form 10-K filed on April 28,      2003.* |
|              |        |   |   |
|              | (10)(x)     |   | Amendment      No. 1 to the Company’s Directors’ Retirement Plan Trust dated as of      February 24, 2003, incorporated by reference to the Company’s Annual      Report on Form 10-K filed on April 28, 2003.* |
|              |        |   |   |
|              | (10)(y)     |   | Amendment      No. 2 to the Company’s Directors’ Retirement Plan Trust dated as of      February 24, 2003, incorporated by reference to the Company’s Annual      Report on Form 10-K filed on April 28, 2003.* |
|              |        |   |   |
|              | (10)(z)     |   | Restoration      and Supplemental Executive Retirement Plan Trust Agreement dated as of      February 11, 2000, incorporated by reference to the Company’s Annual      Report on Form 10-K filed on April 28, 2003.* |
|              |        |   |   |
|              | (10)(aa)    |   | Amendment      No. 1 to the Company’s Restoration and Supplemental Executive Retirement      Plan Trust Agreement dated as of February 24, 2003, incorporated by      reference to the Company’s Annual Report on Form 10-K filed on April 28,      2003.* |
|              |        |   |   |
|              | (10)(ab)    |   | The      2005 Equity Incentive Plan, incorporated by reference to the Company’s      Registration Statement on Form S-8 filed June 9, 2005.* |
|              |        |   |   |
|              | (10)(ac)    |   | Third      Amendment to the Company’s Salaried Pension Plan dated as of August 31,      2005, incorporated by reference to the Company’s Annual Report on Form      10-K filed on April 13, 2007. * |
|              |        |   |   |
|              | (10)(ad)    |   | Fourth      Amendment to the Company’s Salaried Pension Plan dated as of April 5,      2006, incorporated by reference to the Company’s Annual Report on Form      10-K filed on April 13, 2007. * |
|              |        |   |   |
|              | (10)(ae)    |   | Fifth      Amendment to the Company’s Salaried Pension Plan dated as of October 18,      2006, incorporated by reference to the Company’s Annual Report on Form      10-K filed on April 13, 2007.* |

----

Index

| Exhibit No. |  Description |
|-------------|-------------------|
|        |              |   |   |
|        | (10)(af)     |   | Standard      form for the Company’s Non-Employee Director Stock Option Agreement dated      as of December 10, 2007, incorporated by reference to the Company’s Annual      Report on Form 10-K filed on April 11, 2008. * |
|        |              |   |   |
|        | (10)(ag)     |   | Standard      form for the Company’s Incentive Stock Option Agreement dated as of      December 10, 2007, incorporated by reference to the Company’s Annual      Report on Form 10-K filed on April 11, 2008. * |
|        |              |   |   |
|        | (10)(ah)          |   | Non-Qualified      Defined Contribution Supplemental Executive Retirement Plan Agreement      dated as of May 1, 2008, incorporated by reference to the Company’s Annual      Report on Form 10-K filed on April 11, 2008. * |
|        |              |   |   |
|        | (10)(ai)          |   | Amended      and Restated Key Severance Agreement for the Chief Executive Officer dated      as of April 3, 2008, incorporated by reference to the Company’s Annual      Report on Form 10-K filed on April 11, 2008. * |
|        |              |   |   |
|        | (10)(aj)          |   | Amended      and Restated Key Severance Agreement for the Chief Financial Officer dated      as of April 3, 2008, incorporated by reference to the Company’s Annual      Report on Form 10-K filed on April 11, 2008. * |
|        |              |   |   |
|        | (10)(ak)          |   | The      2008 Equity Incentive Plan, incorporated by reference to the Company’s      Registration Statement on Form S-8 filed on December 8,    2008.* |
|        |              |   |   |
|        | (10)(al)          |   | Second      Amended and Restated Key Employee Severance Pay Agreement for the Chief      Executive Officer dated as of December 3, 2008, incorporated by reference      to the Company’s Current Report on 8-K filed on December 5, 2008.      * |
|        |              |   |   |
|        | (10)(am)          |   | Second      Amended and Restated Key Employee Severance Pay Agreement for the Chief      Financial Officer dated as of December 3, 2008, incorporated by reference      to the Company’s Current Report on 8-K filed on December 5, 2008.      * |
|        |              |   |   |
|        | (11)              |   | Statement      regarding computation of Per Share Earnings. See page 32 of Item      8. |
|        |              |   |   |
|        | (21)              |   | List      of Subsidiaries of Registrant as of January 31,  2009: |

|   | Corporate                          |   | Jurisdiction      of |   | Name      under which Business          |
|--------|------------------------------------|--------|----------------------|--------|-----------------------------------------|
|   | Name                               |   | Incorporation        |   | is Conducted                            |
|   |                               |   |                 |   |                                    |
|   | Mefiag      B.V.                   |   | The      Netherlands |   | Mefiag      B.V., a wholly owned        |
|   |                               |   |                 |   | Subsidiary      of Met-ProCorporation   |
|   |                               |   |                 |   |                                    |
|   |                               |   |                 |   |                                    |
|   | Met-Pro      Product               |   | Ontario,      Canada |   | Met-Pro      Product Recovery/Pollution |
|   | Recovery/Pollution      Control    |   |                 |   | Control      Technologies Inc.,         |
|   | Technologies      Inc.             |   |                 |   | a      wholly-owned subsidiary of       |
|   |                               |   |                 |   | Met-Pro      Corporation                |
|   |                               |   |                 |   |                                    |
|   | Strobic      Air Corporation       |   | Delaware             |   | Strobic      Air Corporation,           |
|   |                               |   |                 |   | a      wholly-owned subsidiary of       |
|   |                               |   |                 |   | Met-Pro      Corporation                |
|   |                               |   |                 |   |                                    |
|   | MPC      Inc.                      |   | Delaware             |   | MPC      Inc.,                          |
|   |                               |   |                 |   | a      wholly-owned subsidiary of       |
|   |                               |   |                 |   | Met-Pro      Corporation                |
|   |                               |   |                 |   |                                    |
|   | Pristine      Water Solutions Inc. |   | Delaware             |   | Pristine      Water Solutions Inc.,     |
|   |                               |   |                 |   | a      wholly-owned subsidiary of       |
|   |                               |   |                 |   | Met-Pro      Corporation                |
|   |                               |   |                 |   |                                    |

----

Index

|   |                           |   |                            |   |                                         |
|--------|--------------------------------|--------|---------------------------------|--------|----------------------------------------------|
|   | Corporate                      |   | Jurisdiction      of            |   | Name      under which Business               |
|   | Name                           |   | Incorporation                   |   | is Conducted                                 |
|   |                           |   |                            |   |                                         |
|   | Mefiag      (Guangzhou) Filter |   | People’s      Republic of |   | Mefiag      (Guangzhou) Filter Systems Ltd., |
|   | Systems      Ltd.              |   |     China   |   | a      wholly-owned subsidiary of Met-Pro    |
|   |                           |   |                            |   | (Hong      Kong) Company Limited             |
|   |                           |   |                            |   |                                         |
|   | Met-Pro      (Hong Kong)       |   | Hong      Kong                  |   | Met-Pro      (Hong Kong) Company             |
|   | Company  Limited     |   |                            |   | Limited,      a wholly-owned subsidiary      |
|   |                           |   |                            |   | of      Met-ProCorporation                   |

| Exhibit      No.  | Description |
|------------------------|-------------|
|                   |        |   |   |
|                   | (23)        |   | Consent of Independent Registered Public      Accounting Firm ** |
|                   |        |   |   |
|                   | (31.1)      |   | Certification of Chief Executive Officer      pursuant to Section 302 of the Sarbanes-Oxley Act of 2002      ** |
|                   |        |   |   |
|                   | (31.2)      |   | Certification of Chief Financial Officer      pursuant to Section 302 of the Sarbanes-Oxley Act of 2002      ** |
|                   |        |   |   |
|                   | (32.1)      |   | Certification of Chief Executive Officer      pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of      the Sarbanes-Oxley Act of 2002 ** |
|                   |        |   |   |
|                   | (32.2)      |   | Certification of Chief Financial Officer      pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of      the Sarbanes-Oxley Act of 2002** |

| (9)  | Voting      trust agreements.                                                       |
|------|-------------------------------------------------------------------------------------|
| (12) | Statements      re computation of ratios.                                           |
| (13) | Annual      report to security holders.                                             |
| (14) | Code      of ethics.                                                                |
| (16) | Letter      re change in certifying accountant.                                     |
| (18) | Letter      re change in accounting principles.                                     |
| (22) | Published      report regarding matters submitted to vote of security      holders. |
| (24) | Power      ofattorney.                                                              |

----

Index

SIGNATURES

|           |   | MET-PRO      CORPORATION |
|----------------|--------|--------------------------|
|           |   |                     |   |
| April 10, 2009 |   | By:                      | /s/ Raymond J. De Hont |
| Date           |   |                     | Raymond      J. De Hont |
|           |   |                     | Chairman,      Chief Executive |
|           |   |                     | Officer      andPresident |

| Signature                     | Title                               | Date                |
|-------------------------------|-------------------------------------|---------------------|
|                          |                                |                |
| /s/ Raymond J. De Hont        | Chairman,                           | April      10, 2009 |
| Raymond      J. De Hont       | Chief      Executive Officer        |                |
|                          | and      President                  |                |
|                          |                                |                |
|                          |                                |                |
| /s/ Gary J. Morgan            | Senior      Vice President-Finance, | April      10, 2009 |
| Gary      J. Morgan           | Secretary,      Treasurer,          |                |
|                          | Chief      Financial Officer,       |                |
|                          | Chief      Accounting Officer       |                |
|                          | and      Director                   |                |
|                          |                                |                |
| /s/ Nicholas DeBenedictis     | Director                            | April      10, 2009 |
| Nicholas      DeBenedictis    |                                |                |
|                          |                                |                |
| /s/ George H. Glatfelter II   | Director                            | April      10, 2009 |
| George      H. Glatfelter II  |                                |                |
|                          |                                |                |
| /s/ Alan Lawley               | Director                            | April      10, 2009 |
| Alan      Lawley              |                                |                |
|                          |                                |                |
| /s/ Michael J. Morris         | Director                            | April      10, 2009 |
| Michael      J. Morris        |                                |                |
|                          |                                |                |
|                          | Director                            | April      10, 2009 |
| Constantine      N. Papadakis |                                |                |
|                          |                                |                |
| /s/ Judith A. Spires          | Director                            | April      10, 2009 |
| Judith      A. Spires         |                                |                |