SCHEDULE 14A INFORMATION
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Securities Exchange Act of 1934
(Amendment No. __)

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LADISH CO, INC.
(Name of Registrant as Specified in its Charter)

GRACE BROTHERS LTD.
(Name of Person(s) Filing Proxy Statement if other than the
Registrant)

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FOR IMMEDIATE RELEASE

Grace Brothers responds to comments of C. L. King

Evanston, IL, June 5, 2003 - Grace Brothers, Ltd.
("Grace"), an Illinois investment firm holding 29.6% of
Ladish, Co., Inc. (NASDAQ: LDSH) today issued the
following response to a comment by the firm C. L. King.

Yesterday, Mr. Thomas Lewis, of C.L. King, issued a comment
on Ladish, in which he revealed a lack of information and
understanding of the proposal Grace made to you, Ladish
shareholders.  Mr. Lewis did not contact Grace before
publishing this comment.

MR. LEWIS STATES THAT THE GRACE NOMINEES MUST "LEARN THE
BUSINESS" -
      Please consider these points when evaluating that
      statement:
      1.  The Grace nominees have extensive relevant
          business experience, including:
             *  Mr. Williams is COO of Williams
                International, a manufacturer of jet
                engines.
             *  Mr. Peart has purchased and sold jet
                engines and parts, leased engines for AAR
                Corporation and was formerly CFO for
                Southern Air Transport, a cargo airline.
2.  Electing the Grace slate means electing 4 new
    directors.  Management and three directors remain
    unchanged.

MR. LEWIS SPECULATES ABOUT "A NEW MANAGEMENT" BEING
EVENTUALLY "BAILED OUT BY THE CYCLE".
      We will say it again...our proposal is not to change
      management, but simply to change 4 of the 7
      directors.

MR. LEWIS STATES THAT CHANGING 4 OF 7 DIRECTORS "WOULD
INCREASE THE RISKS ASSOCIATED WITH OWNERSHIP OF LDSH" AND
SUGGESTS THAT HIS FIRM "WOULD REDUCE OUR RATING OR SUSPEND
COVERAGE".
      In our experience, it is unusual to see an equity
      analyst voicing such angst about changes on boards of
      directors.

      Further, in December, 2001, Ladish management added
      three new directors to the Board and a fourth
      director resigned soon afterward.  Yet, we could not
      find any reports authored by Mr. Lewis suggesting
      increased risk for the stock nor suggesting this
      change might cause a lower rating or suspension of
      coverage.

Maybe our message has not been clear.  Let us be clear now.
Grace Brothers is proposing to replace 4 of 7 directors,
one of which is the company's CFO, who will still be part
of the process.  Grace is not proposing any changes to
management.  Grace is proposing to create an independent
board of directors, truly independent of management and
representing all shareholders.

Grace believes its nominees, if elected, will work to
refocus Ladish on making shareholder value a top priority
and the benchmark by which decisions are evaluated.

We encourage every holder to vote the GREEN proxy card.
You can fax your GREEN card to 212-929-0308
before the meeting on June 6, 2003.

We urge you to vote for good governance and focus on
shareholder value.  Vote the GREEN proxy card today.  We
are gratified by the support we have received.  If you
have already voted the white proxy card, you can change
your vote simply by faxing the GREEN proxy card to
212-929-0308 right away.
For questions, call MacKenzie Partners, Inc.
1-800-322-2885