Press Release

FARMINGDALE, N.Y. June 7, 2016 – Telephonics Corporation, a wholly owned subsidiary of Griffon Corporation (NYSE:GFF), announced today that it has received a contract award from the defense and security company Saab, for an initial order of Small Form Factor Identification Friend or Foe (IFF) interrogator systems, model SFF-44A. This cost-effective system will be integrated on Saab's ground-based Giraffe AMB (Agile Multi-Beam) radar platform and provides a clear surveillance picture, which supports the user in making quick tactical decisions while protecting against air threats.

The SFF-44A is a reduced size and weight, All-Mode IFF interrogator that retains all the key capabilities of Telephonics' AIMS certified AN/UPX-44A, the system currently used globally on a variety of air, ground, and maritime platforms. Additionally, the SFF-44A operates at a reduced transmitter power. The SFF-44A interrogators will be manufactured at Telephonics' Long Island production facilities with deliveries set to begin in early 2017.

"Telephonics SFF-44A is extremely well suited for the rugged environmental operations of the Giraffe AMB and will support the end user to effectively manage an ever-changing air surveillance picture," said Kevin McSweeney, Chief Operating Officer of Telephonics. "Telephonics looks forward to strengthening our relationship with Saab, following the integration of our industry-leading IFF technologies with Saab's world class radar systems," Mr. McSweeney added.

For more information about Telephonics and its IFF technologies, please contact Lisa Ahrens at Ahrens@telephonics.com or visit www.telephonics.com.

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.

Visit us at www.telephonics.com or on our social media channels:

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About Griffon Corporation

Griffon Corporation, 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. Griffon provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures. In order to further diversify, Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital.

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.