Telephonics Corporation, a wholly owned subsidiary of the Griffon Corporation (NYSE:GFF) announced today that its Communication Systems Division has achieved the Capability Maturity Model Integrated v1.1 Level 3 certification as issued by the industry best practice process experts at the Software Engineering Institute.

During the weeks of June 19 through June 30, a complete appraisal was performed at CMMI Systems Engineering/Software Engineering SE/SW Version 1.1 Maturity Level 3 as defined by Carnegie Mellon Software Engineering Institute (SEI) using the Standard CMMI Appraisal Method for Process Improvement (SCAMPI).

A total of six appraisers and a team leader conducted a CMMI-based evaluation at the Telephonics facilities in Farmingdale New York. The team completed a three-phased plan, including initial assessment, final appraisal and report during the period of May through June 2006. The result of the review was the formal assessment, which completed on June 30, 2006. During the appraisal, evaluations were performed in eighteen specific process areas including Process Management, Project Management, Engineering, Product Integration, Supplier Management, Risk Management and Support through the review of program documentation on internal process improvement activities and contracted US and international programs.

This successful assessment satisfies an objective placed on the Communication Systems Division by its President, Phil Nicholas. “We challenged the organization to achieve the significant step of advancing from earlier capability maturity model certification to the more thorough CMMI best practices.” The Communication Systems Division not only achieved the requirements for CMMI Level 3 in the specific areas evaluated by SEI, but also extended its process improvement efforts into CMMI Level 4 and Level 5 standards with the implementation of Casual Analysis and Resolution and Objectives and Measures using Metrics processes. The Division also added additional processes for other internal disciplines such as Firmware Requirements Management for Electrical Engineering and a Proposal Development process. Nicholas added,” I am proud of our organization in achieving this high standard.”

The SEI is a federally funded research and development center sponsored by the US Department of Defense and operated by Carnegie Mellon University. The charter of the SEI is to advance the state of the practice of software and systems engineering and serve as a resource for software and systems engineering and technology.

John Maher, SEI authorized CMMI team leader from Organization & Process Improvement, Inc., gave the opinion during the evaluation debriefing that “Telephonics Communication Systems’ metrics infrastructure is world class status and easily fosters the Division for higher levels of process capability. There is a very strong process foundation to build upon, and the Communication Systems Division should be proud of its accomplishments.”

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About Telephonics
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, 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 an international 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.

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Forward Looking Statements
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