NEWS FROM:                                                  EXHIBIT 99.1

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

GRIFFIN ANNOUNCES EXECUTION OF HEADS OF AGREEMENT RELATING TO THE SALE OF
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CENTAUR COMMUNICATIONS, LTD.
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NEW  YORK,  NEW  YORK (JANUARY 16, 2004) GRIFFIN LAND & NURSERIES, INC. (NASDAQ:
GRIF)  ("GRIFFIN")  today  announced  that  Griffin  and  the  other  principal
shareholders of Centaur Communications Ltd. ("Centaur") have executed a heads of
agreement  providing  for the sale of all of the outstanding equity interests in
Centaur.  Griffin  owns  an  approximately  35%  interest (31% fully diluted) in
Centaur,  a  United  Kingdom  magazine  and  information  services  publisher.

Consummation of the sale is subject to numerous contingencies, including without
limitation,  the  satisfactory  completion  of  due diligence and the receipt of
sufficient  financing by the buyer.  The closing of the transaction is currently
contemplated  to  occur  in  March,  if  all  contingencies  are  satisfied.

The  form  of consideration to be received by Griffin in the transaction has yet
to be determined, but is expected to be either all cash or a combination of cash
and  securities  of the buyer.  Griffin estimates that the sale of Centaur would
result  in  after-tax-profit  to  Griffin in the range of in excess of $7.00 per
share of Griffin's issued and outstanding common stock at current exchange rates
and  if  all  of the gain is currently recognized for accounting purposes.  If a
portion  of  the  proceeds to Griffin is in the form of securities of the buyer,
under  certain circumstances, the gain with respect to that portion (but not its
tax)  would  be  deferred  until  the  sale  of  the  related  securities.

There  can  be  no  assurance that the transactions contemplated by the heads of
agreement  will  be  consummated  at  all  or  consummated  on  the  currently
contemplated  terms.

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 may include "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, particularly with
respect to completion of the proposed sale of Centaur. 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.