Telephonics Wins Contract for Counter IED Jammer Production

FARMINGDALE, N.Y.--(BUSINESS WIRE)-- Telephonics Corporation, a wholly owned subsidiary of Griffon Corporation (NYSE:GFF), announced today that its Electronic Systems Division recently received a subcontract award from the Sierra Nevada Corporation (SNC) for production and support with respect to the Joint Counter Radio Controlled Improvised Explosive Device - Electronic Warfare (JCREW) 3.1 Program; which was awarded to SNC on 5 June 2009. The initial value of this subcontract is in excess of $9M with the first system delivery anticipated to be made in the fourth quarter FY 2009.

"This important program comes at the heels of our successful execution of the challenging ramp-up and surge requirements in support of the CREW 2.0 (Duke) mounted jammer effort. Telephonics will leverage the lessons learned in support of SNC to ensure the success of the CREW 3.1 Program." said Donald Pastor, President of the Electronic Systems Division. "We are honored to have been selected for this program, particularly since it plays a critical role in keeping the young men and women in our armed forces out of harm's way."

Telephonics' Electronic Systems Division (ESD) is a world leader in Integrated Security Systems and Products for the Homeland Security and Anti-Terrorism Force Protection market. Electronic Systems also specializes in both the Defense and Civil Air Traffic Control markets for advanced automation systems and secondary surveillance radars. ESD is recognized for its superior technology and ability to rapidly integrate sophisticated system solutions by incorporating state-of-the-art hardware and software designs.

About Telephonics

A subsidiary of Griffon Corporation, 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 is a diversified holding company headquartered in Jericho, NY with operations in three business segments: Garage Doors; Specialty Plastic Films; and Electronic Information and Communication Systems.

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 the company'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.


    Source: Telephonics Corporation

Released August 24, 2009