Press Release

FARMINGDALE,   NEW   YORK,   FEBRUARY   28,   2017   –   Telephonics Corporation, a wholly owned subsidiary of Griffon Corporation (NYSE:GFF), announced today that it has entered into a formal agreement with the NYU Tandon School of Engineering to establish a Telephonics Graduate Fellowship Program. The program will sponsor Telephonics Fellowships for graduate students that show exceptional promise in a range of desired technology areas.

The Fellowship program will offer four students full scholarships as well as opportunities to intern at Telephonics. The Fellows will undertake research with prominent NYU Tandon faculty members. NYU Tandon will select the Fellows from both its own students and from Telephonics engineers who pass the school’s rigorous admissions process. The tuition costs for the Fellowships will be funded by Telephonics.

“Telephonics is extremely pleased to partner with the prestigious NYU Tandon School of Engineering to establish this Fellowship program and looks forward to working together and fostering the next generation of PhD-caliber engineers,” said Mr. Rich Hines, Chief Technology Officer, Telephonics. “Telephonics is committed to driving technological innovation as well as building closer relationships  with   select  engineering  research   organizations   such   as NYU Tandon. Most importantly, this relationship provides an opportunity to invest in the development of Telephonics’ most crucial resource, our employees.”

“NYU Tandon welcomes this opportunity to work with Telephonics to expand our students’ experience beyond the classroom and the research laboratory, to work beside experienced Telephonics engineers on providing real-world solutions to a wide range of technological challenges,” said NYU Tandon Dean Katepalli R. Sreenivasan. “We applaud Telephonics for its generous commitment to support the education of the next generation of engineers.”

Telephonics views this Fellowship program as the first step in establishing a long term relationship with NYU Tandon School of Engineering.

The NYU Tandon School of Engineering is a 160+ year old institution rooted in the merger of two great legacy engineering schools: NYU and the school widely known as Brooklyn Polytechnic. Today, there are 5,500 students focused on applied research in a wide variety of practical and marketable technical solutions. NYU also operates very successful tech incubators in Manhattan and Brooklyn.

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

About Telephonics

Telephonics, founded in 1933, is recognized globally as a leading provider of highly sophisticated intelligence, surveillance and communications solutions that are deployed across a wide range of land, sea and air applications. Telephonics designs, develops, manufactures and provides logistical support and lifecycle sustainment services to defense, aerospace and commercial customers worldwide.

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

Twitter  YouTube  LinkedIn  Google+

About Griffon Corporation

Griffon is a diversified management and holding company that conducts business through wholly-owned subsidiaries. Griffon 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.

Headquartered in New York, N.Y., the Company was founded in 1959 and is incorporated in Delaware. Griffon is listed on the New York Stock Exchanges and trades under the symbol GFF.

Griffon currently conducts its operations through three reportable segments:

• Home & Building Products consists of two companies, The AMES Companies, Inc. (“AMES”) and Clopay Building Products Company, Inc. (“CBP”):
  • AMES, founded in 1774, is the leading U.S. manufacturer and a global provider of long-handled tools and landscaping products for homeowners and professionals.
  • CBP, since 1964, is a leading manufacturer and marketer of residential and commercial garage doors and sells to professional dealers and some of the largest home center retail chains in North America.
• Telephonics Corporation, founded in 1933, is recognized globally as a leading provider of highly sophisticated intelligence, surveillance and communications solutions for defense, aerospace and commercial customers.

• Clopay Plastic Products Company, Inc., incorporated in 1934, is a global leader in the development and production of embossed, laminated and printed specialty plastic films for hygienic, health-care and industrial products and sells to some of the world's largest consumer products companies.

For more information on Griffon and its operating subsidiaries, please see the Company’s website at www.griffon.com.

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.

Investor Contact:
Michael Callahan
ICR, Inc.
203.682.8311
michael.callahan@icrinc.com

Company Contact:
Lisa Ahrens
Telephonics Corporation
631.755.7785
ahrens@telephonics.com
PR#: 225