Telephonics Awarded $25M Contract for C-17 Open Architecture Communications Systems Upgrade

(FARMINGDALE, N.Y., July 10, 2006) -- 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.

Source: Telephonics Corporation
Date: Jul 11, 2006