Summary of ALLIED HEALTHCARE PRODUCTS INC

ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.

On September 30, 2008, Allied Healthcare Products, Inc., a Delaware corporation (the "Company"), amended that certain Loan and Security Agreement dated as of April 24, 2002, as amended by that certain First Amendment Letter Agreement dated as of September 26, 2002, that certain Second Amendment Letter Agreement dated as of September 26, 2003, that certain Third Amendment Letter Agreement dated as of August 27, 2004, and that certain Fourth Amendment to Loan and Security Agreement dated as of September 1, 2005 (as amended, the "Loan Agreement"), by entering into a Fifth Amendment to Loan and Security Agreement effective as of September 30, 2008 (the "Fifth Amendment").

The primary effects of the Fifth Amendment are to:

(i) extend the maturity date of the Loan Agreement until September 1, 2010;

(ii) reduce the Level V unused line fee payable by the Company;

(iii) change the Company's obligation to deliver financial statements from monthly to quarterly;

(iv) adjust the fixed charge coverage ratio calculated contained in the Loan Agreement; and

(v) increase the capital expenditure limitation to $4,000,000 for the Company's fiscal year ending June 30, 2009.

The foregoing summary is qualified in its entirety by reference to the text of the Fifth Amendment, which is filed as Exhibit 10.1 and is incorporated herein by reference.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(c) Exhibits

Exhibit No.   Description

              Fifth Amendment to Loan and Security Agreement by and between the
10.1          Company and LaSalle Bank National Association, dated September 30,
              2008.