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EXHIBIT 99.1
INVESTOR CONTACT:
Claudia Pieropan
Chief Financial Officer
(949) 559-4444
www.hineshorticulture.com
HINES HORTICULTURE, INC. SUBSIDIARY DECLARES RECORD DATE FOR NOTEHOLDER CONSENT
SOLICITATION
Irvine, California, November 10, 2000 - Hines Horticulture, Inc. (Nasdaq: HORT),
today announced that yesterday, November 9, 2000, the board of directors of
Hines Nurseries, Inc., its wholly owned subsidiary, declared on November 9, 2000
at 5:00 p.m. as the record date for a consent solicitation to be conducted with
respect to all of its outstanding Series B 11 3/4% Senior Subordinated Notes due
October 15, 2005. The purpose of the consent solicitation will be to seek an
amendment to the definition of "Permitted Indebtedness" under the indenture
governing the notes, and to make certain other changes. All holders of notes who
consent to the proposed amendments will be entitled to payment of a consent fee.
Hines Nurseries expects to mail the consent solicitation documents to note
holders shortly.
Hines Horticulture is a leading operator of commercial nurseries in North
America, producing one of the broadest assortments of container-grown plants in
the industry. The Company sells its nursery products primarily to the retail
segment, which includes premium independent garden centers, as well as leading
home centers and mass merchandisers, such as Home Depot, Lowe's, Wal-Mart, Kmart
and Target. The Company is also the largest North American producer and marketer
of sphagnum peat moss and professional peat and bark-based growing media, which
it sells to professional customers, including greenhouse growers, nursery
growers and golf course developers.
