GAIL BINDERMAN, MARK ALEXANDER AND SHARON ZOFFNESS AS TRUSTEES U/I DTD APRIL 13, 2004 c/o Hartman & Craven LLP New York, New York 10022

                                                                        EXHIBIT 4

XXXX XXXXXXXXX, XXXX XXXXXXXXX

AND XXXXXX XXXXXXXX AS TRUSTEES

U/I DTD APRIL 13, 2004

c/x Xxxxxxx & Xxxxxx LLP

000 Xxxxxxx Xxxxxx

New York, New York 10022

                                                                                                            April 27, 2006

Xx. Xxxxxx X. Xxxxxxxxx

President

Xxxxxxxx Corporation

000 Xxxx Xxxxxx

New York, New York 10166

                                    Re:       Exchange of Shares

Dear Xx. Xxxxxxxxx:

This letter is to confirm our agreement as of the date hereof to effect the following exchange of shares:

1.         Effective as of April 27, 2006, Xxxx Xxxxxxxxx, Xxxx Xxxxxxxxx and Xxxxxx Xxxxxxxx as Trustees u/i dtd April 13, 2004 (the “April 2004 Trust”), hereby assign and convey, free of any and all liens, claims and encumbrances, 27,524 shares of the Class B common stock of Sequa Corporation, a Delaware corporation (“Sequa”), to Xxxxxxxx Corporation (“Xxxxxxxx”) in exchange for 27,500 shares of the Class A common stock of Sequa.

2.         Effective as of April 27, 2006, Xxxxxxxx xxxxxx assigns and conveys, free of any and all liens, claims and encumbrances, 27,500 shares of the Class A common stock of Sequa to the April 2004 Trust in exchange for 27,524 shares of the Class B common stock of Sequa.

Very truly yours,

XXXX XXXXXXXXX, XXXX XXXXXXXXX

AND XXXXXX XXXXXXXX AS TRUSTEES

U/I DTD APRIL 13, 2004

By: /s/  Xxxx Xxxxxxxxx

                                                                                    Xxxx Xxxxxxxxx

                                                                                    Trustee

ACCEPTED AND AGREED TO AS OF

THE DATE FIRST SET FORTH ABOVE:

XXXXXXXX CORPORATION

By:  /s/ Xxxxxx X. Xxxxxxxxx

            Xxxxxx X. Xxxxxxxxx

            President