  We present Chandra HETGS spectroscopy of the Be/X-ray binary 1A 0535+262
obtained during the 2009/2010 giant outburst. These are the first CCD grating
spectra of this type of system during a giant outburst. Our spectra reveal a
number of lines including a narrow Fe K_alpha emission line with a FWHM of ~
5000 km s^-1. For the first time, we detect the presence of a highly ionized
outflow in a Be/X-ray binary. Assuming that the line is He-like Fe XXV, fits
with a simple Gaussian imply an outflow velocity of ~ 1500 km s^-1. However,
self-consistent photoionization modeling with XSTAR suggests that Fe XXIII-XXIV
must also contribute. In this case, an outflow velocity of ~ 3000 km s^-1 is
implied. These results are discussed in the context of the accretion flow in
Be-star, neutron star, and black hole X-ray binaries.
