Telephonics Corporation, a wholly owned subsidiary of the Griffon Corporation (NYSE:GFF) announced today a Not-to-Exceed contract award in excess of $25M from The Boeing Company for production of the Communications Open System Architecture (COSA) Integrated Radio Management System (IRMS) for the USAF C-17A Globemaster III transport aircraft.

This contract is for production of the first 33 shipsets of IRMS equipment to be delivered over the next year to Boeing for retrofit into the existing fleet of C-17A aircraft. The USAF and Boeing are expected to order a total of 124 shipsets over the next five years to provide a fully harmonized fleet. Total value of contract, including spares, is expected to exceed $110 million.

This communication management avionics system provides C-17 aircrews with secure fully digital audio, integrated displays and controls for management of all communication and navigation assets. “The COSA IRMS system has been proven to greatly enhance the mission capability for the C-17 through its field performance on new production aircraft delivered from Boeing. The COSA upgrade provides the C-17 fleet with the ability to support its primary role as the backbone of the U.S. Air Force’s capability for global projection and operations.” stated Phil Nicholas, President of the Telephonics Communication Systems Division.

Telephonics is the world leader in the design and production of secure digital communications management and intercommunication systems for military aircraft for the U.S. Department of Defense and numerous international customers.

Work on the project will be accomplished at Telephonics facilities in Farmingdale and Huntington, N.Y.

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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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