Document:

WARRANTY DEED

STATE DEED TAX DUE HEREON:  $________________

Date:  March 15, 2002

       FOR VALUABLE CONSIDERATION, Hillcrest Development, a limited
partnership under the laws of the State of Minnesota, Grantor, hereby conveys
and warrants to Techne Corporation, a corporation under the laws of the State
of Minnesota, Grantee, real property in Hennepin County, Minnesota, described
as follows:

See Exhibit A attached hereto and incorporated herein by reference.

Seller certifies that Seller does not know of any wells on the subject
property.

Together with all hereditaments and appurtenances belonging thereto, subject
to the exceptions set forth in Exhibit B attached hereto and incorporated
herein by reference.

                                       HILLCREST DEVELOPMENT

                                       /s/ Scott M. Tankenoff
                                       ------------------------
                                       By Scott M. Tankenoff, general partner

STATE OF MINNESOTA   )
                     )ss.
COUNTY OF HENNEPIN   )

     The foregoing instrument was acknowledged before me this 15th day of
March, 2002, by Scott M. Tankenoff, the general partner of Hillcrest
Development, a Minnesota limited partnership, on behalf of the limited
partnership.

                                           /s/ James L. Erickson
                                           ----------------------
                                           Notary Public
                                           Tax Statements for the real
                                           property described in this
                                           instrument should be sent to
                                           (Include name and address of
                                           Grantee):
THIS INSTRUMENT DRAFTED BY:
Maslon Edelman Borman & Brand, LLP (KBB)   Techne Corporation
3300 Wells Fargo Center                    614 McKinley Place NE
90 South Seventh Street                    Minneapolis, MN  55413
Minneapolis, MN  55402-2534
(612)672-8200

                            EXHIBIT A

                        LEGAL DESCRIPTION

Parcel A:

Lot 1, Block 1, Dannys Addition, Hennepin County, Minnesota.

Parcel B:

Lot 18, Auditor's Subdivision Number 268, Hennepin County, Minnesota,
together with the appurtenant easements contained in Document No. 1178824,
and together with that portion of vacated Cleveland Street Northeast which
accrued thereto by reason of the vacation thereof.

Parcel C:

Lot 26, Auditor's Subdivision Number 268, Hennepin County, Minnesota.

Parcel D:

That part of Lot 33, Auditor's Subdivision Number 268, Hennepin County,
Minnesota, described as follows:  Beginning at a point in the North line of
Block 12, "Minneapolis Industrial District", which point is 815.96 feet West
of the Northeast corner of said Block 12; thence South parallel with the
Southwest line of said Lot 33 a distance of 368.03 feet; thence Southwesterly
on a line which is perpendicular to the Southwest line of Said Lot 33 to said
Southwesterly line of Lot 33; thence Northwesterly on the Southwesterly line
of said lot 33 to the North line of Block 12; thence Easterly on the North
line of Block 12 to point of beginning.

                         EXHIBIT B

                     PERMITTED ENCUMBRANCES

1.  	Temporary, non-exclusive, parking easement for the benefit of Lots 8, 9,
16, and 17, Auditor's Subdivision Number 258, as contained in Declaration
of Easement Agreement dated July 1, 1999, filed July 9, 1999, as Document
No. 3179238.  Said Easement expires January 15, 2003.
(As to Parcel A)

2. Reservation of utility rights of Northern States Power Company in vacated
Cleveland Street as described in Resolution 99-R-185, a certified copy of
which was filed June 29, 1999, as Document No. 3174847.
(As to Parcel B)

3. Unrecorded Conditional Right of First Opportunity to lease up to 15,000
contiguous square feet of rentable space on the first floor of the
building located on Parcel B in favor of Ucare Minnesota, a Minnesota
non-profit corporation, contained in an unrecorded lease dated April 14,
1999, by and between Hillcrest Development, a Minnesota limited
partnership, as Landlord, and Ucare Minnesota, a Minnesota non-profit
corporation, as Tenant, as evidenced of record by Memorandum of
Conditional Right of First Opportunity dated June 22, 1999, filed June
29, 1999, as Document No. 3175099 and as amended dated _________, 2002,
filed____________, 2002 as Document No._________
(As to Parcel B)

4. Reservation of minerals and mineral rights by the State of Minnesota as
shown by memorial on Certificate of Title No. 861446.
(As to Parcel C)

5. Covenants for the benefit of The Burlington Northern and Santa Fe Railway
Company as contained in Quit Claim Deed dated December 15, 1998, filed
February 25, 1999, as Document No. 7047446 in the office of the Hennepin
County Recorder.
(As to Parcel A)

6. Matters that could be disclosed by a survey, if any.

7. Easement for Ingress and Egress dated March 15, 2002 executed by and
between Hillcrest Development and Techne Corporation over a portion of vacated
Cleveland Street.

8. Easement for the maintenance, use and operation of railroad trackage in favor
of MT Properties, Inc., as contained in Quit Claim Deed dated November 6, 2001,
filed _______________, as Document No. _________.
(As to Parcel D)EXHIBIT 4.1

                   FORM OF SPECIMEN COMMON STOCK CERTIFICATE

                                 [KADANT LOGO]

NUMBER                                                                    SHARES

COMMON STOCK                                                        COMMON STOCK

                                  Kadant Inc.

              Incorporated under the laws of the State of Delaware

                                                               CUSIP 48282T 10 4

This certifies that

Is the owner of

    FULLY PAID AND NONASSESSABLE SHARES OF COMMON STOCK, $.01 PAR VALUE, OF

                                  Kadant Inc.

Transferable on the books of the Corporation in person or by duly authorized
attorney upon surrender of this Certificate properly endorsed. The Certificate
and the shares represented hereby are issued under and shall be subject to all
the provision of the Certificate of Incorporation and the By-Laws of the
Corporation, and all the amendments from time to time made thereto. This
Certificate is not valid unless countersigned and registered by the Transfer
Agent and Registrar.
WITNESS the facsimile seal of the Corporation and facsimile signatures of its
duly authorized officers.

Dated:

/s/ Sandra L. Lambert          [seal]     /s/ William A. Rainville
---------------------                      -------------------------------------
Secretary                                  President and Chief Executive Officer

Countersigned and Registered:

AMERICAN STOCK TRANSFER & TRUST COMPANY
(NEW YORK, N.Y.)
Transfer Agent and Registrar

By
  ---------------------
   Authorized Signature

<PAGE>

                  [FORM OF REVERSE SIDE OF STOCK CERTIFICATE]

                                  Kadant Inc.

         This Corporation will furnish without charge to each stockholder who so
requests, a copy of the designations, powers, preferences and relative,
participating, optional or other special rights of each class of stock or series
thereof and the qualifications, limitations or restrictions of such preferences
and/or rights. Any such requests may be addressed to the Secretary of the
Corporation.

         This certificate also evidences and entitles the holder hereof to
certain Rights as set forth in the Rights Agreement between Kadant Inc. (the
"Corporation") and American Stock Transfer & Trust Company (the "Rights Agent"),
dated July 16, 2001, as the same may be amended, restated or renewed from time
to time (the "Rights Agreement"), the terms of which are hereby incorporated
herein by reference and a copy of which is on file at the principal offices of
the Corporation. Under certain circumstances, as set forth in the Rights
Agreement, such Rights will be evidenced by separate certificates and will no
longer be evidenced by this certificate. The Corporation will mail to the holder
of this certificate a copy of the Rights Agreement, as in effect on the date of
mailing, without charge promptly after receipt of a written request therefore.
Under certain circumstances set forth in the Rights Agreement, Rights issued to,
or held by, any Person who is, was or becomes an Acquiring Person or any
Affiliate or Associate thereof (as such terms are defined in the Rights
Agreement), whether currently held by or on behalf of such Person or by any
subsequent holder, may become null and void.

         The following abbreviations, when used in the inscription on the face
of this Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenants in common      NIF GIFT MIN ACT -         Custodian
                                                      --------          --------
                                                    (Cust)              (Minor)
TEN ENT - as tenants by the entireties              under Uniform Gifts to
                                                    Minors Act
                                                              ------------
                                                                (State)
JT TEN - as joint tenants with right
         of survivorship and not as
         tenants in common

         Additional abbreviations may also be used though not in the above list.

         For value received,               hereby sell, assign and transfer unto
                             -------------

PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE

------------------------------------

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(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE
OF ASSIGNEE)

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                                                                          Shares
-------------------------------------------------------------------------

of the Stock represented by the within Certificate, and do hereby irrevocably
constitute and appoint

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Attorney to transfer the said Stock on the books of the within-named Corporation
with full power of substitution in the premises.

Dated:
      -------------------------                    -----------------------------
            Signature

THE SIGNATURES TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON
THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR WITHOUT ALTERATION OR
ENLARGEMENT OR ANY CHANGE WHATEVER.

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