Hardinge Announces Additional Workforce Reductions

Hardinge Inc. (Elmira, NY), a leading international provider of advanced metal-cutting solutions, recently announced it was further reducing its North American workforce by approximately 50 employees in response to continued weakness in demand for capital goods due to global economic conditions. This current workforce reduction represents approximately 10 percent of the Company's North America based employment, which is now almost 40 percent below mid-year 2008.

"This action is very difficult, but necessary given the current business conditions," said Richard L. Simons, President and Chief Executive Office. "Orders for machines produced in our Elmira facility have been adversely impacted by the severe economic downturn. We must continue to size our operations to reflect our incoming order rates, make changes in our business model as necessary, and concentrate on positive cash flow. The difficult staffing decisions made over the past 13 months have enabled the Company to maintain a solid financial footing despite the continuation of unfavorable business conditions. As of June 30, 2009, Hardinge is in a positive net cash position reflecting a consolidated cash balance of $16.5 million, compared to total debt of $12.2 million."

The Company also announced that it will release second quarter results and conduct its investor conference call on August 6, 2009.

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www.hardinge.com

This news release contains forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended). Such statements are based on management's current expectations that involve risks and uncertainties. Any statements that are not statements of historical fact or that are about future events may be deemed to be forward-looking statements. For example, words such as "may," "will," "should," "estimates," "predicts," "potential," "continue," "strategy," "believes," "anticipates," "plans," "expects," "intends," and similar expressions are intended to identify forward-looking statements. The company's actual results or outcomes and the timing of certain events may differ significantly from those discussed in any forward-looking statements. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.