GRIFFON CORPORATION ANNOUNCES CONTRACT AWARD FROM GENERAL DYNAMICS CANADA...WITH OPTIONS, THIS AWARD COULD EXCEED $50 MILLION

Jericho, New York, July 5, 2005 — Griffon Corporation (NYSE:GFF) announced today that Telephonics Corporation, the company’s electronic information and communication systems subsidiary, has received a subcontract award from General Dynamics Canada (GDC) (Ottawa, Ontario) for 31 ship sets of integrated Maritime Surveillance Radar and Mark XIIA Identification Friend or Foe (IFF) interrogator sub-system hardware with options for initial spares and 20 years of in-service support for the Canadian Maritime Helicopter Project (MHP). The subcontract, including all options, could exceed $50 million in value with the first test aircraft system to be delivered in July 2007.

General Dynamics Canada is part of the Sikorsky Aircraft-led team selected for the MHP in 2004. Under its MHP contracts, Sikorsky will supply and support 28 of its H-92 helicopters, designated the CH-148 Cyclone by the Canadian Forces.

Telephonics will supply its advanced APS-143B(V)3 Multi-Mode Radar with fully integrated IFF for this application. “We are proud to have been selected to supply these critical elements of General Dynamics Canada’s Integrated Mission System for the Cyclone”, emphasized Mr. Joseph J. Battaglia, President of Telephonics Corporation. “The strong technical capability of General Dynamics Canada combined with the high end performance and reliability of our APS-143B(V)3 radar ensures that the Canadian Forces will receive an operationally superior and cost effective solution for their maritime helicopter mission needs”.

With its open systems architecture configuration, various versions of the APS-143B(V)3 multi-mode imaging radar are currently deployed on numerous rotary and fixed wing platforms meeting a variety of demanding mission requirements. The internal, fully integrated Mark XIIA IFF interrogator has been designed to be compatible with the IFF interrogators being supplied for the US Navy’s MH-60R LAMPS helicopter, the Canadian CP-140 Aurora upgrade program, and the US and International Air Force’s AWACS platforms.

This program will be managed from Telephonics’ facilities in Farmingdale, NY with a portion of the work being performed in Canada as defined in the Industrial Regional Benefit plan included in Telephonics’ proposal.

About Telephonics Corporation
A subsidiary of Griffon Corporation (NYSE: GFF), Telephonics’ (www.telephonics.com) broad based, high-tech engineering capabilities provide integrated information and communication systems solutions to both domestic and international markets. The company is organized into two operating divisions: Communications Systems, specializing in aircraft intercommunications, mass transit communications, wireless and audio products; and Command Systems, specializing in traffic management systems, maritime surveillance radar and aerospace electronics; and one wholly-owned subsidiary, TLSI. Operating under the Telephonics umbrella, TLSI (www.tlsi.com) manufactures application-specific integrated circuits (ASIC) for the telecommunications, automotive and industrial security markets.

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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