“A non-profit organization supporting the men and women of the United States Coast Guard, the Coast Guard Foundation is pleased to work with outstanding companies like Telephonics in championing the brave work of our servicemen and women,” said James C. Link, president of the Coast Guard Foundation. “It’s through the generosity of companies like Telephonics that the Foundation is able to strengthen the performance of Coast Guard men and women and enhance their service to our nation.”

In 1996, The Coast Guard Reservist magazine published a two-part series “Coast Guard Monuments Across the USA.” That series prompted a visit by some Coast Guardsmen to Arlington National Cemetery’s Coast Guard Hill the following Memorial Day. They noticed that the Army places American flags on all the graves at Arlington every Memorial Day. The Coast Guardsmen came up with an idea — why not place Coast Guard flags on the Coast Guard graves at Arlington on Veterans Day, and perhaps the anniversary of the day the Coast Guard was founded on August 4, 1790. The idea came to life for Veterans Day 1999 when the Washington, D.C. Chapter of the Chief Petty Officers Association sponsored the placing of USCG flags on the graves of Coast Guardsmen buried at Arlington, as well seven flags at the Vietnam Veterans Memorial Wall for the seven Coast Guardsmen on the Wall. Since January 2001, more than 86 USCG Flags Across America chapters in 36 states have sprung up to work on this worthy project. Chairman of the Chief Petty Officer’s USCG Flags Across America committee CWO3 Ed Kruska said, “We’re deeply grateful to Telephonics and the Coast Guard Foundation for helping sustain this tradition in 2007.”

About Telephonics
“A subsidiary of Griffon Corporation (NYSE: GFF), Telephonics’ broad-based, advanced, high-technology engineering and manufacturing capabilities provide integrated information, communication, and sensor system solutions to military and commercial markets worldwide. The company is organized into four operating divisions: Communications Systems, specializing in aircraft intercommunication systems, ruggedized wireless communication systems, and commercial audio products; Radar Systems, specializing in airborne maritime surveillance radar, weather and search radar, and advanced identification friend or foe products; Electronic Systems specializing in aerospace electronics, air traffic management systems and Homeland Security products; and the Systems Engineering Group specializing in the performance of threat and radar system analyses and other support engineering functions for the Department of Defense, the Missile Defense Agency, and various other Government agencies and major prime contractors.”

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
``Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: All statements other than statements of historical fact included in this release, including without limitation statements regarding the company's financial position, business strategy and the plans and objectives of the company's management for future operations, are forward-looking statements. When used in this release, words such as ``anticipate,'' ``believe,'' ``estimate,'' ``expect,'' ``intend,'' and similar expressions, as they relate to the company or its management, identify 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 as a result of certain factors, including but not limited to, business and economic conditions, competitive factors and pricing pressures, capacity and supply constraints. Such statements reflect the views of the company with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to the operations, results of operations, growth strategy and liquidity of the company. Readers are cautioned not to place undue reliance on these forward-looking statements. 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.