International breakthrough for SAAB short range radio

Saab has signed a cooperation agreement with Telephonics Corporation, a
wholly owned subsidiary of the Griffon Corporation (NYSE:GFF) for
product modification and delivery of SaabTech's "Short Range Radio" for
the North American market.

"The Cooperation agreement is an international breakthrough for the
communication technology that Saab has developed in cooperation with the
Swedish Defense Matériel Administration for the Gripen project. The
agreement shows that we have achieved world-class recognition for our
technology in this field," says Göran Bergling, manager of SaabTech's
communications division.

Short Range Radio allows full-duplex, voice-controlled conference calls
in noisy environments where you need your hands to be free for purposes
other than pushing buttons. The Swedish Air Force uses the radio in its
preparations for the Gripen. The short range radio, which is in its
third generation, is also being evaluated for programs in several
countries for future military systems. Several hundred trial units have
been sold in the export market to be evaluated for both military and
civil applications.

Saab is one of the world's leading high-technology companies with its
main operations focusing on defense, aviation and space. The group
covers a broad spectrum of competence and capability in systems

A subsidiary of Griffon Corporation (NYSE: GFF), Telephonics'
( broad-based, high-tech engineering capabilities
provide integrated information and communication systems solutions to
both domestic and international markets.

For further information, please contact:
Göran Bergling, General Manager, SaabTech Communication Division,
Telephone +46 (0)8-798 09 13

Anna Bergenlid, Director of Communications & PR, SaabTech
Telephone +46 (0)8 580 853 06, +46 (0)70-573 99 42

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