Telephonics, Standard MEMS Ink Pact

FARMINGDALE, N.Y. -- Telephonics Corporation, a wholly owned subsidiary of the Griffon Corporation (NYSE: GFF), and Standard MEMS, Inc. (SMI), both Long Island, NY based companies, have entered into an exclusive arrangement to jointly develop new products for the broadband telecommunications market. This strategic partnership combines two entities, preeminent in their respective technologies, that will aggressively pursue the development of products using micro-electro-mechanical systems (MEMS), an emerging and advanced state-of-the-art technology, in unique applications that will significantly enhance wireless communications. Standard MEMS, Inc. is one of the leading developers and producers of micro-electro-mechanical devices for a wide variety of commercial and consumer applications. The MEMS are microscopic "machines", born from the traditional IC processing infrastructure, that have bridged the gaps between the electronic and the mechanical worlds. These new, innovative telecommunications system elements, offer significantly more capability, and enable the development of new products at a cost significantly below competing traditional products on the market today.Telephonics Corp. Standard MEMS Inc.