EXHIBIT 99.1



FOR IMMEDIATE RELEASE

Contact:    General Host                       The Cypress Group
            Robert Lovejoy                     Owen Blicksilver
            313-366-8400                       212-303-7603

                   THE CYPRESS GROUP ACQUIRES IN EXCESS OF 90%
                OF GENERAL HOST CORPORATION IN CASH TENDER OFFER;
                   GENERAL HOST CONSUMMATES NEW BANK FINANCING
                              AND DEBT TENDER OFFER

STAMFORD, CT, December 24, 1997 -- The Cypress Group L.L.C. and General Host
Corporation (NYSE: GH) today announced the acquisition by Cyrus Acquisition
Corp., a company formed by Cypress, of in excess of 90% of the outstanding
common stock of General Host Corporation pursuant to Cyrus' $5.50 per share cash
tender offer. In addition, General Host announced the completion of its tender
offer and consent solicitation for its 11-1/2% Senior Notes. Each of the tender
offers expired, as scheduled, at midnight, New York City time, on Tuesday,
December 23, 1997.

Cypress and General Host said that based on information provided by the
depositary, at the expiration of the offers a total of approximately 21,983,422
shares of General Host (or approximately 90% of the outstanding shares of
General Host before giving effect to the stock sale described below), were
validly tendered and not properly withdrawn pursuant to Cyrus' offer (including
approximately 378,033 shares subject to guarantees of delivery), and that
$52,760,000 in aggregate principal amount of Senior Notes (or approximately 68%
of the total outstanding principal amount) were validly tendered and not
properly withdrawn pursuant to General Host's tender offer and consent
solicitation (including $49,932,000 in aggregate principal amount tendered prior
to the deadline for consents). Cyrus Acquisition Corp. has accepted for payment
all such shares, and General Host has accepted for payment all such Senior
Notes, validly tendered and not withdrawn.

The tender offers were made pursuant to an agreement and plan of merger between
General Host and Cyrus. Also pursuant to the merger agreement, simultaneously
with the closing of the tender offers Cyrus purchased approximately 4.7 million
additional shares of General Host stock for approximately $25.9 million in cash,
which, together with the acceptance of the shares in the offer, resulted in
Cyrus' ownership of in excess of 92% of General Host's outstanding common stock.
In the second step of the acquisition, Cyrus will be merged with and into
General Host and each remaining General Host share (and any in-the-money
options) will be cashed out at $5.50 per share.


                                     -more-

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Simultaneously with the closing of the tender offers, Frank's Nursery & Crafts,
Inc., General Host's primary operating subsidiary, entered into a $195 million
credit facility with a syndicate of lenders led by The Chase Manhattan Bank and
Goldman Sachs Credit Partners L.P. providing for up to $85 million of term loans
and a $110 million revolving credit facility.

Pursuant to the merger agreement, C. Whitcomb Alden, Jr., Edward H. Hoornstra,
Philip B. Harley, Christopher A. Forster, S. Joseph Fortunato and Kelly Ashton
Sant Albano have resigned as directors of General Host, and Joseph R. Baczko,
James A. Stern, David P. Spalding, Jeffrey P. Hughes, James L. Singleton and
Bahram Shirazi, as Cypress designees, have been elected to serve as directors of
General Host until their successors are elected and qualified. Joseph R. Baczko
has been named the new Chairman, Chief Executive Officer and President of
General Host and Frank's, and Larry T. Lakin has been named Chief Financial
Officer of the companies.

Larry Lakin was previously the Chief Financial Officer and a principal of
Shiara, Inc., a private fragrance and cosmetics venture. Prior to Shiara, Mr.
Lakin had served as Chief Financial Officer and/or Vice President of Finance of
Faberge International, LJN Toys (a former subsidiary of MCA), Toys "R" Us -
International and Max Factor's international operations and Controller of
Chrysler - France.

General Host is the operator of Frank's Nursery & Crafts, Inc., Detroit, the
nation's largest chain of specialty retail stores devoted to the sale of lawn
and garden products, crafts, Christmas merchandise and pet food and supplies --
including more than 200 different proprietary lawn and garden products. General
Host operates 258 Frank's stores in 15 states, mostly in the East and Midwest,
and had 1996 revenues in excess of $530 million.

The Cypress Group manages a private equity fund which closed in February 1996
with more than $1 billion in commitments. Cypress invests in privately
negotiated transactions, targeting established operating businesses and
investing with management to foster continued growth. Investments made by
Cypress include Cinemark USA, Inc., Amtrol Inc., and Scotsman Holdings, as well
as The Multicare Companies via a new joint venture company called Genesis
ElderCare Corp. The Cypress Group, based in New York City, is headed by its four
partners, James A. Stern, Jeffrey P. Hughes, James L. (Jamie) Singleton and
David P. Spalding.


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