Griffon Universal Shelf Registration Statements Declared Effective by the SEC

JERICHO, N.Y., May 18 /PRNewswire-FirstCall/ -- Griffon Corporation (NYSE:
GFF) announced today that the Securities and Exchange Commission (SEC) has
declared effective its $400 million universal shelf registration statements on
Form S-3 and Form S-4.

Griffon's Chief Executive Officer, Ronald J. Kramer, said, "The current
economic environment continues to present us with many potential opportunities
to grow and diversify our business. We believe that these shelf registrations
will allow us to expand our flexibility to act quickly and decisively to take
advantage of growth opportunities."

Under the Form S-3, the Company may from time to time issue up to $400 million
of any combination of preferred equity and debt securities (including
preferred equity or debt convertible into common equity), or warrants, rights
or units consisting of any of the foregoing. The net proceeds of any such
issuances are expected to be used for general corporate purposes and to fund
the Company's growth.

Under the Form S-4, the Company may from time to time issue up to $400 million
of any combination of common and preferred equity and debt securities, or
warrants, rights or units consisting of any of the foregoing in connection
with business combination transactions, including acquisitions of other
businesses, assets, properties or securities. Griffon does not expect to
receive cash proceeds from the sale of securities issued pursuant to the Form
S-4.

The Company has no immediate plans or current commitments to sell securities.
The terms of any offerings under these shelf registrations will be determined
at the time of the offering and disclosed in a prospectus supplement filed
with the SEC.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of securities in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the laws of any such state.

Griffon has filed registration statements (including a prospectus) with the
SEC for the offering to which this communication relates. Before you invest,
you should read the prospectus in the applicable registration statement, the
applicable prospectus supplement and other documents the Company has filed
with the SEC for more complete information about Griffon and any offering. A
copy of the prospectus included in each registration statement may be obtained
at no charge at the SEC's website at www.sec.gov. In addition, when available,
copies of the prospectus, and any prospectus supplement relating to a
particular offering, may be obtained by contacting Griffon Corporation, 100
Jericho Quadrangle, Jericho, NY 11753, Attn: Chief Financial Officer, (516)
938-5544.

About Griffon Corporation

Griffon Corporation, headquartered in Jericho, New York, is a diversified
holding company consisting of three distinct business segments: Electronic
Information and Communication Systems, through Telephonics Corporation; Garage
Doors, through Clopay Building Products Company; and Specialty Plastic Films,
through Clopay Plastic Products Company.
-- Telephonics Corporation's high-technology engineering and
manufacturing capabilities provide integrated information,
communication
and sensor system solutions to military and commercial markets
worldwide.
-- Clopay Building Products Company is a leading manufacturer and
marketer
of residential, commercial and industrial garage doors to professional
installing dealers and major home center retail chains.
-- Clopay Plastic Products Company is an international leader in the
development and production of embossed, laminated and printed
specialty
plastic films used in a variety of hygienic, health-care and
industrial
markets.

For more information on the Company and its operating subsidiaries, please see
the Company's website at www.griffoncorp.com.

Forward-looking Statements

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: All statements other than statements of historical fact included in this
release, including without limitation statements regarding the Company's
financial position, business strategy and the plans and objectives of the
Company's management for future operations, are forward-looking statements.
When used in this release, words such as "anticipate", "believe", "estimate",
"expect", "intend", and similar expressions, as they relate to the Company or
its management, identify 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 as a result of certain factors, including but
not limited to, business, financial market and economic conditions, including,
but not limited to, the credit market, the housing market, results of
integrating acquired businesses into existing operations, the results of the
Company's restructuring and disposal efforts, competitive factors and pricing
pressures for resin and steel and capacity and supply constraints. Such
statements reflect the views of the Company with respect to future events and
are subject to these and other risks, uncertainties and assumptions relating
to the operations, results of operations, growth strategy and liquidity of the
Company as previously disclosed in the Company's SEC filings. Readers are
cautioned not to place undue reliance on these forward-looking statements. 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.

Contact: Patrick L. Alesia
Chief Financial Officer
(516) 938-5544

SOURCE Griffon Corporation

Patrick L. Alesia, Chief Financial Officer, +1-516-938-5544