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Press Release

Telephonics to Participate in U.S. Army-Sponsored Degraded Visual Environment Testing

FARMINGDALE, NEW YORK, November 4, 2014 – Telephonics Corporation, a wholly owned subsidiary of Griffon Corporation (NYSE: GFF), announced today that it has been invited to participate in the U.S. Army’s Degraded Visual Environment (DVE) Mitigation testing program, scheduled to take place in early 2015 at the Yuma Proving Ground in Arizona. During testing, rotary-wing aircraft will create degraded visual environment conditions to obtain live data from a variety of sensor solutions to help overcome the challenges associated with executing operations in poor visibility.

Degraded visual environments, including sand, dust, brownout and other adverse weather conditions, have been a major issue for rotary-wing pilots, making it difficult to see obstacles during flight and landing. Telephonics’ Test Demonstrator Radar operates at 35 GHz, an optimal frequency that will provide the requisite resolution for crisp imagery while enabling aviators to effectively navigate through these degraded visual environments at longer ranges, leading to increased safety and mission success.

"Telephonics is honored to participate in this U.S. Army-sponsored event and to offer a frequency solution that can help solve the often dangerous situations arising from degraded visual environments," said Joseph J. Battaglia, President and Chief Executive Officer of Telephonics. "By testing at Yuma, the U.S. Army will be able to accurately assess our sensor solution in an environment similar to what our armed forces experience during flight, yielding important information to help solve this long-standing problem."

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.

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

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.

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