GRIFFON CORPORATION ANNOUNCES TELEPHONICS TO SUPPLY RDR-1700 AND APS-143B(V)3 RADAR

Jericho, New York, June 11, 2001 — Griffon Corporation (NYSE: GFF) today announced through its wholly-owned subsidiary Telephonics Corporation receipt of contracts of approximately $13.0 million for its new RDR-1700 Search, Surveillance and Weather Avoidance Radar system and its APS-143B(V)3 Surveillance Radar. Telephonics will provide up to twenty-three RDR-1700s for use on Agusta-Westland naval helicopters, and three APS-143B(V)3 for use on an unnamed fixed-wing platform for airborne anti-drug surveillance activities. Delivery of these systems is expected to take place over the next 18 to 24 months.

The RDR-1700 multi-mode, X-band radar has a flexible design that allows installation in helicopters as well as fixed-wing aircraft for support of search and rescue activities that require detection of small vessels. The system has an integral target tracking capability. At a weight of less than 35 kilograms and with three search modes and 360-degree digital color scanning, this radar is ideal for coastal activities including Search and Rescue, drug interdiction, customs, anti-smuggling and the detection of illegal fishing.

The APS-143B(V)3 coherent X-band radar is a multi-mode radar system installed on a variety of helicopter and fixed-wing aircraft and optimized for small target detection. Weighing in at less than 80 kilograms, it is uniquely qualified for installation on small, long-range platforms. More than three hundred APS-143 systems are in use around the world on a variety of helicopter and fixed-wing platforms, with a significant number used for drug interdiction.

Griffon Corporation—

• is a leading manufacturer and marketer of residential, commercial and industrial garage doors sold to professional installing dealers and major home center retail chains;
• installs and services specialty building products and systems, primarily garage doors, openers, fireplaces and cabinets, for new construction markets through a substantial network of operations located throughout the country;
• is a leader in the development and production of embossed and laminated specialty plastic films used in the baby diaper, feminine napkin, adult incontinent, surgical and patient care markets; and
• develops and manufactures information and communication systems for government and commercial markets worldwide.

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