Telephonics’ Systems Engineering Group Awarded Contract with Naval Surface Warfare Center

  Telephonics’ Systems Engineering Group Awarded Contract with Naval Surface
  Warfare Center

Business Wire

FARMINGDALE, N.Y. -- February 7, 2013

Telephonics Corporation (Telephonics), a wholly owned subsidiary of Griffon
Corporation (NYSE:GFF), announces a contract awarded to its Systems
Engineering Group (SEG) from the Naval Surface Warfare Center (NSWC), Corona
Division to support the Aegis Ballistic Missile Defense (ABMD) system. The
contract value is ~$11.5 million for the base year with a cumulative value of
$35.5 million when the two option years are exercised.

Under the contract, SEG will provide integrated weapon system and missile
development, test and evaluation support services. These support services
include data generation through the use of analytical system and threat
engineering tools, computer modeling and simulation, and hardware
enhancements. SEG will assess and analyze the performance of existing and
future ABMD systems, relative to current and projected threat systems, and
support the development of robust and capable future system designs.

“We are extremely pleased that NSWC has once again chosen us to provide this
specialized and critical engineering support for the ABMD program,” said Mr.
Joseph J. Battaglia, President and CEO of Telephonics Corporation. “This
continues SEG’s long contractual relationship with NSWC Corona which began in
1999, and is based on our unique capabilities in support of missile and weapon
system development.”

About Telephonics

Telephonics' high-technology engineering and manufacturing capabilities
provide integrated information, communication and sensor system solutions to
military and commercial markets worldwide. Telephonics specializes in aircraft
intercommunication systems, wireless communication systems, radars,
identification friend or foe products, integrated security systems, air
traffic management systems, aerospace electronics, and the performance of
threat and radar system analyses.

About Griffon Corporation

Griffon Corporation (the Company or Griffon), headquartered in New York, N.Y.,
is a diversified management and holding company that conducts business through
wholly-owned subsidiaries. The Company oversees the operations of its
subsidiaries, allocates resources among them and manages their capital
structures. The Company provides direction and assistance to its subsidiaries
in connection with acquisition and growth opportunities as well as in
connection with divestitures. Griffon also seeks out, evaluates and, when
appropriate, will acquire additional businesses that offer potentially
attractive returns on capital to further diversify itself.

Forward-Looking Statements

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of
1995: Certain statements other than statements of historical fact included in
this release are forward-looking statements. Such forward-looking statements
are based on the beliefs of the company’s management, as well as assumptions
made by and information currently available to the company’s management.
Actual results could differ materially from those contemplated by the
forward-looking statements. Information concerning risks and uncertainties
that may impact the company’s results and forward-looking statements are set
forth in Griffon Corporation’s filings with the SEC. The company does not
undertake to release publicly any revisions to these forward-looking
statements to reflect future events or circumstances or to reflect the
occurrence of unanticipated events.

© 2013 Telephonics Corporation. 815 Broad Hollow Road, Farmingdale, NY 11735.
All trademarks, trade names, service marks, and logos referenced herein belong
                        to their respective companies.

Contact:

Investor:
ICR, Inc.
Anthony Gerstein, 646-277-1242
anthony.gerstein@icrinc.com
or
Company:
Telephonics Corporation
Carrie Petrocca-Aronson, 631-755-7583
petrocca@telephonics.com