NEWS FROM:                                        EXHIBIT 99.1

GRIFFIN LAND & NURSERIES, INC.                    CONTACT:
                                                  ANTHONY GALICI
                                                  CHIEF FINANCIAL OFFICER
                                                  (860) 653-4541

GRIFFIN ANNOUNCES COMPLETION OF THE SALE OF CENTAUR COMMUNICATIONS, LTD.
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NEW  YORK,  NEW  YORK  (MARCH  10, 2004) GRIFFIN LAND & NURSERIES, INC. (NASDAQ:
GRIF)  ("GRIFFIN")  today  announced  that  Griffin  and  the  other  principal
shareholders  of  Centaur  Communications,  Ltd.  ("Centaur")  completed  the
previously announced sale of all of the A, B and C Ordinary Shares of Centaur, a
United  Kingdom magazine and information services publisher, to Centaur Holdings
PLC  ("Centaur  Holdings"),  a  newly public company which will be traded on the
Alternative  Investment  Market of the London Stock Exchange. Griffin's proceeds
from  the  transaction,  based  on  current exchange rates and before income tax
payments, estimated transaction expenses and potential adjustments contingent on
Centaur's closing balance sheet, include cash of approximately $72.0 million and
approximately  6.5  million  shares  of  common  stock  of  Centaur  Holdings,
representing approximately 4.8% of the total outstanding common stock of Centaur
Holdings.  The  value  of  the  Centaur Holdings stock at the time of closing is
approximately  $12.0  million  based  on  the stock's initial offering price and
current  exchange  rates.  By  agreement, Griffin is prohibited from selling its
interest  in  Centaur  Holdings  for  six  months.

Griffin  expects this transaction to result in an after-tax gain in the range of
$7.75 to $8.25 per share of Griffin's issued and outstanding common stock, which
is  based  on  Griffin's  estimated transaction expenses, final determination of
proceeds based on Centaur's closing balance sheet and estimated income taxes.  A
portion  of the cash proceeds will be used by Griffin for the income tax payment
related  to  the  gain  on this transaction and to repay all amounts outstanding
under  Griffin's  Credit  Agreement  with  Fleet  National  Bank.

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.