The Griffin Corporation announces going private transaction



    KITCHENER, ON, Jan. 14 /CNW/ - The Griffin Corporation (TSX Venture
Exchange "GRN") ("Griffin" or the "Company") announces that it has received
today the approval of the Superior Court of Justice of Ontario in connection
with its previously announced going private transaction to be completed by way
of plan of arrangement (the "Arrangement") between Griffin and Zayma Realty
Holdings Inc. ("Zayma"), a corporation controlled by Griffin's Chief Executive
Officer and his immediate family.
    At a Special Meeting of Shareholders held on January 11, 2008 a special
resolution approving the Arrangement pursuant to section 182 of the Business
Corporations Act (Ontario) was respectively approved by 99.47% of the votes
cast by holders of common shares of Griffin, present in person or represented
by proxy and by 98.49% of the votes cast by holders of common shares of
Griffin present in person or represented by proxy, excluding votes cast in
respect of common shares beneficially owned or over which control or direction
is exercised by Griffin's Chief Executive Officer. Both votes exceeded the
approvals required by the Superior Court of Justice of Ontario in its Interim
Order dated December 12, 2007.
    Pursuant to the Arrangement, holders of common shares of Griffin (other
than Zayma and other shareholders over which Griffin's Chief Executive Officer
exercises control or direction) will receive $0.08 for each common share of
Griffin held. Griffin expect the completion of the Arrangement to occur on or
about January 18, 2008.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.





For further information:

For further information: Irwin W. Pasternak at (519) 744-4400, visit
Griffin's website at www.griffincorporation.com, or by mail at 73 King Street
West, 2nd Floor, Kitchener, ON, N2G 1A7

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GRIFFIN CORPORATION

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