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                                   EXHIBIT 4
 
      Joint Press Release of the Company and Parent dated October 23, 1995
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                                                                October 23, 1995
 
DIEBOLD ANNOUNCES AGREEMENT TO PURCHASE
GRIFFIN TECHNOLOGY INCORPORATED
 
     CANTON, Ohio -- Diebold, Incorporated (NYSE:DBD) today announced that it
has entered into a merger agreement to purchase the stock of Griffin Technology
Incorporated (NASDAQ:GRIF), based in Farmington, N.Y. Pursuant to the merger
agreement, Diebold will commence a tender offer for all issued and outstanding
shares of Griffin for $7.75 per share in cash.
 
     In connection with the transaction, certain major shareholders have agreed
to tender to Diebold their shares (representing approximately 32 percent of the
issued and outstanding common stock of Griffin).
 
     Griffin, with 1995 fiscal year (June 30, 1995) revenues of $17.9 million,
is a provider of computerized campus-wide, card-based systems for colleges and
universities in the United States. Two years ago Diebold started offering an
integrated access management (ICAM) system that combines transaction and
security capabilities on a single card. Griffin, with more than 20 years
experience, develops, manufactures, sells and services systems for meal plans,
facility access control, photo imaging, vending and electronic payment systems.
The new alliance will have nearly 300 installations.
 
     Robert W. Mahoney, Diebold chairman, president and chief executive officer,
said, "The purchase of Griffin accelerates the strategic initiative we undertook
to expand our presence in the higher education marketplace, as well as in other
campus-type environments. Griffin is well respected in the college and
university market. Our customers will benefit not only from Griffin's market
expertise, but also from Diebold's corporate reputation and financial strength,
nationwide service organization and technology expertise.
 
     "We also benefit from expanded sales opportunities for both companies'
existing products," Mahoney said.
 
     Robert S. Urland, Griffin president and chief executive officer, said,
"Griffin gains by affiliating with Diebold, a much larger company with capital
to finance new products and geographic expansion for campus card systems. There
are also natural synergies between out companies in products and software,
research and development, service, manufacturing and other operations. For
instance, we will now be in a position to offer existing Griffin customers an
enhanced security product line to integrate with their installed card systems.
It will be a definite plus for Griffin and our college and university
customers," he said.
 
     Diebold, Incorporated, headquartered in Canton, Ohio, is a world leader in
providing card-based transaction systems, security and service solutions to the
financial, education and healthcare industries. Founded in 1859 as a security
equipment company, Diebold currently provides integrated solutions incorporating
its automated teller machines (ATMs), electronic and physical security systems,
electronic payment systems, professional services and software.