Griffon Corp. awarded $17.2 million for U.S. Air Force AWACS program

Business Wire, Dec 4, 1996

JERICHO, N.Y.--(BUSINESS WIRE)--Dec. 4, 1996--Griffon Corp. (NYSE:GFF) announced today that its electronics subsidiary, Telephonics Corp., has recently been awarded a series of contracts by the Boeing Co. of Seattle, for approximately $17.2 million, to provide for the updating of the AN/APX-103 Identification Friend or Foe System (IFF) for the U.S. Air Force's Airborne Warning Control System (AWACS). These contracts bring the total awarded value of the AWACS program to approximately $36 million.

The AWACS is an airborne command, control and communications system capable of long-range surveillance of all air vehicles. A modified 707-320B, AWACS carries an extensive complement of mission avionics including IFF, computers, radar, displays and navigation systems. These systems are proving to be the essential military asset of the 21st century and are used by the U.S. Air Force as well as those of the United Kingdom, France, NATO, Saudi Arabia and Japan.

THe IFF was originally designed by Telephonics 20 years ago. Recent Telephonics R&D contracts have resulted in an improved, modernized system that can more accurately identify and track air targets. This new system was flight tested in January 1996. The U.S. Air Force reported, "the success of the demonstration is particularly remarkable considering that the program began little more than a year ago."

Telephonics is a supplier of information and communications systems for government and commercial markets worldwide.

Griffon Corp --

- is a leading manufacturer and marketer of residential garage

doors, as well as a major supplier of commercial and

industrial garage doors and a range of related products and

services for the home building and replacement markets;

- is a 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.

CONTACT: Griffon Corp., Jericho

516/938-5544