<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>blauharveyfrm4.txt
<DESCRIPTION>CHANGE OF BENEFICIAL OWNER
<TEXT>
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                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                     FORM 4

                  STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
       Section 17(a) of the Public Utility Holding Company Act of 1935 or
               Section 30(h) of the Investment Company Act of 1940

|_|  Check this box if no longer subject to Section 16. Form 4 or Form 5
     obligations may continue. See Instruction 1(b).

(Print of Type Responses)
________________________________________________________________________________
1.   Name and Address of Reporting Person*

   Blau,                            Harvey               R.
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   (Last)                           (First)             (Middle)

   100 Jericho Quadrangle
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                                    (Street)

   Jericho,                         New York             11753
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   (City)                           (State)              (Zip)


________________________________________________________________________________
2.   Issuer Name and Ticker or Trading Symbol

   Griffon Corporation (GFF)
________________________________________________________________________________
3.   I.R.S. Identification Number of Reporting Person, if an entity (voluntary)


________________________________________________________________________________
4.   Statement for Month/Day/Year

   January 3, 2003
________________________________________________________________________________
5.   If Amendment, Date of Original (Month/Day/Year)


________________________________________________________________________________
6.   Relationship of Reporting Person(s) to Issuer
     (Check all applicable)

     |X|  Director                             |_|  10% Owner
     |X|  Officer (give title below)           |_|  Other (specify below)

   Chairman of the Board
________________________________________________________________________________
7.   Individual or Joint/Group Filing (Check Applicable line)

     |X|  Form Filed by One Reporting Person
     |_|  Form Filed by More than One Reporting Person
________________________________________________________________________________

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           Table I -- Non-Derivative Securities Acquired, Disposed of,
                             or Beneficially Owned
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<TABLE>
<CAPTION>
                                                                                                 5.
                                                                                                 Amount of      6.
                                                                 4.                              Securities     Owner-
                                                                 Securities Acquired (A) or      Beneficially   ship
                                       2A.          3.           Disposed of (D)                 Owned          Form:     7.
                            2.         Deemed       Transaction  (Instr. 3, 4 and 5)             Following      Direct    Nature of
                            Trans-     Execution    Code         ------------------------------- Reported       (D) or    Indirect
1.                          action     Date, if     (Instr. 8)                   (A)             Transaction(s) Indirect  Beneficial
Title of Security           Date       any          ------------                 or              (Instr. 3 &    (I)       Ownership
(Instr. 3)                  (mm/dd/yy) (mm/dd/yy)    Code     V      Amount      (D)    Price     Instr.4)      (Instr.4) (Instr.4)
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<S>                         <C>        <C>           <C>      <C>    <C>         <C>    <C>      <C>            <C>       <C>

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Common Stock,
Par Value $.25 per share    01/03/03                 M               40,420(1)   A     $6.0227(2) 625,594        D
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Common Stock,
Par Value $.25 per share                                                                          145,809(3)     I        By Wife
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Common Stock,
Par Value $.25 per share                                                                           71,186(4)     I
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(1)Represents net shares acquired upon the exercise of options to purchase 110,000 shares for which 46,655 shares with a market
   value of $14.20 per share were tendered in payment of the exercise price and 22,925 shares with a market value of $14.20 per
   share were tendered in payment of minimum withholding taxes.
(2)Adjusted to give effect to 10% stock dividend paid in September 2001.
(3)Reporting person disclaims beneficial ownership of these securities.
(4)Represents shares owned by Blau, Kramer, Wactlar & Lieberman Profit-Sharing Plan, of which Mr. Blau is one of three trustees.
   (63,311 shares are allocated to Mr. Blau.)
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</TABLE>

<PAGE>

FORM 4 (continued)

Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
            (e.g., puts, calls, warrants, options, convertible securities)

================================================================================
<TABLE>
<CAPTION>
                                                                                                          9.
                                                                                                          Number    10.
                                                                                                          of        Owner-
                                                                                                          deriv-    ship
                                                                                                          ative     Form
             2.                                                                                           Secur-    of
             Conver-                            5.                              7.                        ities     Deriv-   11.
             sion                               Number of                       Title and Amount          Bene-     ative    Nature
             or                                 Derivative    6.                of Underlying     8.      ficially  Secur-   of
             Exer-            3A.      4.       Securities    Date              Securities        Price   Owned     ity:     In-
             cise             Deemed   Trans-   Acquired (A)  Exercisable and   (Instr. 3 and 4)  of      Follow-   Direct   direct
             Price   3.       Execut-  action   or Disposed   Expiration Date   ----------------  Deriv-  ing       (D) or   Bene-
1.           of      Trans-   ion      Code     of(D)         (Month/Day/Year)            Amount  ative   Reported  In-      ficial
Title of     Deriv-  action   Date if  (Instr.  (Instr. 3,    ----------------            or      Secur-  Trans-    direct   Owner-
Derivative   ative   Date     any      8)       4 and 5)      Date     Expira-            Number  ity     action(s) (I)      ship
Security     Secur-  (mm/dd/  (mm/dd/  ------   ------------  Exer-    tion               of      (Instr. (Instr.   (Instr.  (Instr.
(Instr. 3)   ity     yy)      yy)      Code V    (A)   (D)    cisable  Date     Title     Shares  5)      4)        4)       4)
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<S>          <C>     <C>               <C>  <C>  <C>   <C>    <C>      <C>      <C>       <C>     <C>     <C>       <C>      <C>

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1998 Stock
Option Plan
(Right to Buy)                                                                                            715,000     D
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1997 Stock
Option Plan
(Right to Buy)                                                                                            882,200     D
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1995 Stock
Option Plan
(Right to Buy)                                                                                            550,000     D
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1992 Stock
Option Plan                                                                      Common
(Right to Buy) $6.0227 01/03/03        M             110,000  02/09/95 02/08/03  Stock    110,000         513,700     D
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2001 Stock
Option Plan
(Right to Buy)                                                                                            420,600     D
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</TABLE>
Explanation of Responses:


     \s\Harvey R. Blau                                         01/06/03
---------------------------------------------            -----------------------
      **Signature of Reporting Person                             Date

Reminder: Report on a separate line for each class of securities beneficially
          owned directly or indirectly.

*     If the form is filed by more than one reporting person, see Instruction
      4(b)(v).

**     Intentional misstatements or omissions of facts constitute Federal
       Criminal Violations.

       See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:  File three copies of this Form, one of which must be manually signed.
       If space is insufficient, see Instruction 6 for procedure.


                                                                          Page 2

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