Exhibit 26
Calloway's Nursery, Inc.
4200 Airport Freeway, Suite 200
Fort Worth, Texas 76117-6200
(817) 222-1122
November 21, 2003
Dear Shareholder:
Enclosed with this letter is the Company's Odd-Lot Purchase
Offer dated November 20, 2003 (the "Odd-Lot Purchase Offer").
Upon the terms and subject to the conditions set forth in the Odd-
Lot Purchase Offer, Calloway's Nursery, Inc. is offering to
purchase all shares of its common stock from holders of record of
fewer than 100 shares of the Company's common stock for $0.90 per
share. As described in the Odd-Lot Purchase Offer, the purpose
of the offer is to reduce the number of the Company's
shareholders of record so that it may terminate the registration
of its common stock under the Securities Exchange Act of 1934.
Following the termination of the common stock's registration, the
Board of Directors estimates that the Company could save
approximately $500,000 annually by eliminating the substantial
costs associated with being a public company, including the
preparation and filing of periodic reports with the Securities
and Exchange Commission. We are providing all shareholders the
Odd-Lot Purchase Offer for their information; however, only those
holders of record of fewer than 100 shares of the Company's
common stock will be eligible to participate in the offer. We
have provided those shareholders a letter of transmittal that may
be used to tender their shares to the Company.
Holders who wish to accept the Company's offer are asked to
respond promptly by completing and returning the enclosed Letter
of Transmittal and all other required documentation to the
Company.
If you have any questions regarding the terms of the Odd-Lot
Purchase Offer, please direct your questions to John Cosby or Dan
Reynolds at 817-222-1122.
Very truly yours,
James C. Estill
President