NEW YORK, April 27, 2007 (PRIME NEWSWIRE) -- Griffen-Rose, LLC, an independent New York-based research firm, announced today that it has initiated research coverage on AeroGrow International, Inc. (OTCBB:AGWI) ("AeroGrow"), makers of the AeroGarden(tm) kitchen garden appliance, and issued a twelve month horizon target price of $11.51 per share. The entire report can be accessed through the Griffen-Rose website at http://www.griffenrose.com/aerogrow.html.
About Griffen-Rose, LLC
Griffen-Rose, LLC is an independent New York-based research firm providing objective and rigorous business analysis and research on public and private companies. Griffen-Rose reports are accessible by institutional and individual investors through effective distribution to a significant database of money managers, private equity firms, venture capitalists, hedge funds, investment banks and senior industry executives. Griffen-Rose analysts possess in-depth industry experience and intimate knowledge of the companies covered. Griffen-Rose reports are carried on the top professional financial information channels such as Bloomberg, Factset and Reuters.
About AeroGrow International, Inc.
Founded in 2002 in Boulder, Colorado, AeroGrow International, Inc. is dedicated to the research, development and marketing of the AeroGarden(tm), the world's first kitchen garden appliance. The AeroGarden features NASA-proven, dirt-free aeroponic technology, allowing anyone to grow farmer's market fresh herbs, salad greens, tomatoes, chili peppers, strawberries and more, indoors, year-round, so simply and easily that no green thumb is required. See www.aerogrow.com.
FORWARD-LOOKING STATEMENTS
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements by Michael Bissonnette, statements regarding growth of the AeroGarden product line, optimism related to the business, expanding sales and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business. Words such as expects, anticipates, intends, plans, believes, sees, estimates and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many factors including continued market acceptance of the Company's products or the need to raise additional capital. In addition, actual results could vary materially based on changes or slower growth in the kitchen garden appliance market; the potential inability to realize expected benefits and synergies; domestic and international business and economic conditions; changes in customer demand or ordering patterns; changes in the competitive environment including pricing pressures or technological changes; technological advances; shortages of manufacturing capacity; future production variables impacting excess inventory and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.