GRIFE Griffin Land & Nurseries (MM)

NEW YORK, Nov. 10 /PRNewswire-FirstCall/ -- Griffin Land & Nurseries, Inc. (NASDAQ:GRIFE) ("Griffin") today announced that on November 9, 2005 it received notice from The Nasdaq Stock Market, Inc. ("Nasdaq") that Griffin is eligible for continued listing on the Nasdaq National Market. Griffin had previously been notified by Nasdaq that due to the failure to file its quarterly reports on Form 10-Q for the thirteen week periods ended May 28, 2005 and August 27, 2005, it was subject to potential delisting from the Nasdaq Stock Market. The delisting was stayed during Griffin's appeal to a Nasdaq Listing Qualifications Panel. The filing delay was the result of the previously announced restatement of Griffin's consolidated financial statements for the fiscal years ended November 29, 2003 and November 27, 2004 and the thirteen weeks ended February 26, 2005. The restated financial statements, along with the reports on Form 10-Q for the thirteen weeks ended May 28, 2005 and August 27, 2005 were filed on November 3, 2005. As a result, Griffin is now current in its filing requirements and in compliance with all other Nasdaq marketplace rules. Effective on November 11, 2005, Griffin's trading symbol will return to "GRIF". Griffin operates a real estate business under its Griffin Land division and a landscape nursery business, Imperial Nurseries, Inc. Forward-Looking Statements: This Press Release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Although Griffin believes that its plans, intentions and expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such plans, intentions or expectations will be achieved. The projected information disclosed herein is based on assumptions and estimates that, while considered reasonable by Griffin as of the date hereof, are inherently subject to significant business, economic, competitive and regulatory uncertainties and contingencies, many of which are beyond the control of Griffin. CONTACT: Anthony Galici Chief Financial Officer (860) 653-4541 DATASOURCE: Griffin Land & Nurseries, Inc. CONTACT: Anthony Galici, Chief Financial Officer of Griffin Land & Nurseries, Inc., +1-860-653-4541

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