EXHIBIT 99.1


FOR IMMEDIATE RELEASE

CONTACT:      LARRY T. LAKIN
              Chief Financial Officer
              (248) 712-7007

FRANK'S NURSERY & CRAFTS BANKRUPTCY COURT APPROVES THE COMPANY'S
DISCLOSURE STATEMENT FOR THE COMPANY'S FIRST AMENDED PLAN OF REORGANIZATION

Troy, Michigan, March 14, 2002 - Frank's Nursery & Crafts, Inc. and FNC Holdings
Inc. announced that, on March 12, 2002, the U.S. Bankruptcy Court for the
District of Maryland, Baltimore Division (the "Court") approved the Company's
Disclosure Statement for their First Amended Joint Plan of Reorganization (the
"Disclosure Statement") as containing adequate information. Consequently, the
Company will commence solicitation of votes from creditors and equity holders
for approval of the First Amended Joint Plan of Reorganization, (the "Plan").

The Court has scheduled a hearing on May 1, 2002 for consideration of
confirmation of the Plan and set April 19, 2002 as the deadline both for filing
objections to confirmation of the Plan and for submitting ballots on the Plan.
In addition, the Court established February 28, 2002 (the "Record Date") as the
record date for the purpose of determining which creditors and equity holders
may be entitled to vote on the Plan.

Frank's currently operates 170 stores in fourteen states and is the largest
United States chain (as measured by sales) of specialty retail stores devoted to
the sale of lawn and garden products. Frank's is also a leading retailer of
Christmas trim-a-tree merchandise, artificial flowers and arrangements, garden
and floral crafts, and home decorative products.

The revised Disclosure Statement approved by the court and the Plan will be
available on Frank's Nursery & Craft's website on March 19. www.franks.com







                                    - more -

Any statements in this release that may be considered forward-looking statements
are subject to risks and uncertainties that could cause actual results to differ
materially. These risks and uncertainties are discussed in periodic reports
filed by the Company with the Securities and Exchange Commission that the
Company urges investors to consider. Neither this release nor the posting of the
Disclosure Statement or Plan on Frank's website shall constitute a solicitation
of acceptances on the Plan. The Court's approval of the Disclosure Statement
does not constitute approval of the Plan, which approval shall be considered by
the court at the May 1, 2002 confirmation hearing.

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