GRIFFON CORPORATION ANNOUNCES MULTI-YEAR CONTRACT AWARD IN EXCESS OF $40 MILLION FROM LOCKHEED MARTIN TO SUPPLY COCKPIT COMMUNICATIONS SYSTEMS FOR U.S. NAVY

Jericho, New York, February 19, 2004 — Griffon Corporation (NYSE: GFF) announced today that Telephonics Corporation, the company’s electronic information and communication systems subsidiary, received a multi-year contract in excess of $40 million from Lockheed Martin Systems Integration-Owego for the production of common cockpit communications management systems for the U.S. Navy’s MH-60R and MH-60S helicopters.

This contract enables Telephonics’ to achieve significant subcontract and manufacturing efficiencies by combining the five year program into one single contract, providing a significant savings directly to the Navy.

This award solidifies Telephonics reputation as a world leader in secure communication systems for helicopter applications. According to Phil Nicholas, Communications Division President, “Telephonics and Lockheed Martin have a strong relationship that started with the original SH-60B helicopter communication system for the U.S. Navy in the 1970s. We are proud to continue our dedicated performance as a member of the common cockpit team.”

Telephonics has a proven history in helicopter intercommunication and communications management systems with over 1800 systems fielded on 27 programs throughout the world. Work on this program will be performed at the Telephonics facilities in Farmingdale and Huntington, NY.

About Griffon Corporation
In addition to developing and manufacturing information and communication systems for government and commercial markets worldwide, Griffon Corporation is also 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. Griffon Corporation is also a leading manufacturer and marketer of residential, commercial and industrial garage doors sold to professional installing dealers and major home center retail chains. Through a substantial network of operations located throughout the country, Griffon’s building products company also installs and services specialty building products, primarily garage doors, openers, fireplaces and cabinets for new construction markets.

Forward Looking Statements
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