| X      | QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 FOR THE QUARTERLY PERIOD ENDED August 29, 2009   |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                               |
|   | TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 FOR THE TRANSITION PERIOD FROM ______ TO  _____ |

| Delaware                                                            | 06-0868496                                |
|---------------------------------------------------------------------|-------------------------------------------|
| (state      or other jurisdiction of incorporation or organization) | (IRS      Employer Identification Number) |
|                                                                |                                      |
| One      Rockefeller Plaza, New York, New York                      | 10020                                     |
| (Address      of principal executive offices)                       | (Zip      Code)                           |
|                                                                |                                      |
| Registrant’s      Telephone Number including Area Code        | (212)      218-7910                       |

----

|  Yes    x | No       ̈ |
|------------------------------------|----------------|

|          Large      accelerated filer |  ̈ |              Accelerated      filer         | x      |   |
|------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------|--------|--------|
|          Non-accelerated      filer   |  ̈ |              Smaller      reporting company |  ̈ |   |

| Yes      ̈ | No   ̈ |
|-----------------------------------------|----------------------|

| Yes      ̈ | No   x |
|-----------------------------------------|-----------------------|

----

| PART      I  -  |           | FINANCIAL      INFORMATION                                                        |   |
|---------------------------|----------------|-----------------------------------------------------------------------------------|--------|
|                      |           |                                                                              |   |
|                      | ITEM      1    | Financial      Statements                                                         |   |
|                      |           |                                                                              |   |
|                      |           | Consolidated      Statements of Operations (unaudited)                            |   |
|                      |           | 13      and 39 Weeks Ended August 29, 2009 and August 30, 2008                    | 3      |
|                      |           |                                                                              |   |
|                      |           | Consolidated      Balance Sheets (unaudited)                                      |   |
|                      |           | August      29, 2009 and November 29, 2008                                        | 4      |
|                      |           |                                                                              |   |
|                      |           | Consolidated      Statements of Changes in Stockholders’ Equity (unaudited) |   |
|                      |           | 39      Weeks Ended August 29, 2009 and August 30, 2008                           | 5      |
|                      |           |                                                                              |   |
|                      |           | Consolidated      Statements of Cash Flows (unaudited)                            |   |
|                      |           | 39      Weeks Ended August 29, 2009 and August 30, 2008                           | 6      |
|                      |           |                                                                              |   |
|                      |           | Notes      to Consolidated Financial Statements (unaudited)                       | 7-23   |
|                      |           |                                                                              |   |
|                      | ITEM      2    | Management’s      Discussion and Analysis of                                |   |
|                      |           | Financial      Condition and Results of Operations                                | 24-36  |
|                      |           |                                                                              |   |
|                      | ITEM      3    | Quantitative      and Qualitative Disclosures About Market Risk                   | 36     |
|                      |           |                                                                              |   |
|                      | ITEM      4    | Controls      and Procedures                                                      | 36-37  |
|                      |           |                                                                              |   |
| PART      II  - |           | OTHER      INFORMATION                                                            |   |
|                      |           |                                                                              |   |
|                      | ITEM      1    | Not      Applicable                                                               |   |
|                      |           |                                                                              |   |
|                      | ITEM      1A   | Risk      Factors                                                                 | 38     |
|                      |           |                                                                              |   |
|                      | ITEMS      2-5 | Not      Applicable                                                               |   |
|                      |           |                                                                              |   |
|                      | ITEM      6    | Exhibits                                                                          | 38-40  |
|                      |           |                                                                              |   |
|                      |           | SIGNATURES                                                                        | 41     |

----

| PART      I  | FINANCIAL      INFORMATION |
|--------------|----------------------------|
|         |                       |
| ITEM      1. | FINANCIAL      STATEMENTS  |

|                                                                                       |   | For      the 13 Weeks Ended, |   |   | For      the 39 Weeks Ended, |   |
|--------------------------------------------------------------------------------------------|--------|------------------------------|--------|--------|------------------------------|--------|
|                                                                                       |   | August      29, 2009         |   |   | August      30, 2008         |   |   | August      29, 2009 |   |   | August      30, 2008 |   |
| Landscape      nursery net sales and other revenue                                         |   | $                            | 3,528  |   |                         | $      | 3,824 |   |   | $ | 19,545 |   |   | $ | 21,301 |   |
| Rental      revenue and property sales                                                     |   |                         | 4,246  |   |                         |   | 4,040 |   |   |   | 12,570 |   |   |   | 12,108 |   |
| Total      revenue                                                                         |   |                         | 7,774  |   |                         |   | 7,864 |   |   |   | 32,115 |   |   |   | 33,409 |   |
|                                                                                       |   |                         |   |   |                         |   |   |   |   |   |   |   |   |   |   |   |
| Costs      of landscape nursery sales and other revenue                                    |   |                         | 3,715  |   |                         |   | 3,797 |   |   |   | 18,429 |   |   |   | 18,716 |   |
| Costs      related to rental revenue and property sales                                    |   |                         | 3,021  |   |                         |   | 2,625 |   |   |   | 9,350 |   |   |   | 8,926 |   |
| Total      costs of goods sold and costs related to rental revenue and property      sales |   |                         | 6,736  |   |                         |   | 6,422 |   |   |   | 27,779 |   |   |   | 27,642 |   |
|                                                                                       |   |                         |   |   |                         |   |   |   |   |   |   |   |   |   |   |   |
| Gross      profit                                                                          |   |                         | 1,038  |   |                         |   | 1,442 |   |   |   | 4,336 |   |   |   | 5,767 |   |
|                                                                                       |   |                         |   |   |                         |   |   |   |   |   |   |   |   |   |   |   |
| Selling,      general and administrative expenses                                          |   |                         | 2,596  |   |                         |   | 2,924 |   |   |   | 8,725 |   |   |   | 9,345 |   |
| Operating      loss                                                                        |   |                         | (1,558 | )      |                         |   | (1,482 | ) |   |   | (4,389 | ) |   |   | (3,578 | ) |
| Interest      expense                                                                      |   |                         | (880   | )      |                         |   | (762 | ) |   |   | (2,506 | ) |   |   | (2,423 | ) |
| Investment      income                                                                     |   |                         | 28     |   |                         |   | 106 |   |   |   | 152 |   |   |   | 675 |   |
| Loss      before income tax benefit                                                        |   |                         | (2,410 | )      |                         |   | (2,138 | ) |   |   | (6,743 | ) |   |   | (5,326 | ) |
| Income      tax benefit                                                                    |   |                         | 974    |   |                         |   | 869 |   |   |   | 2,512 |   |   |   | 2,071 |   |
| Net      loss                                                                              |   | $                            | (1,436 | )      |                         | $      | (1,269 | ) |   | $ | (4,231 | ) |   | $ | (3,255 | ) |
|                                                                                       |   |                         |   |   |                         |   |   |   |   |   |   |   |   |   |   |   |
| Basic      net loss per common share                                                       |   | $                            | (0.28  | )      |                         | $      | (0.25 | ) |   | $ | (0.83 | ) |   | $ | (0.64 | ) |
|                                                                                       |   |                         |   |   |                         |   |   |   |   |   |   |   |   |   |   |   |
| Diluted      net loss per common share                                                     |   | $                            | (0.28  | )      |                         | $      | (0.25 | ) |   | $ | (0.83 | ) |   | $ | (0.64 | ) |
|                                                                                       |   |                         |   |   |                         |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                 |   | August      29, 2009 |    |   | November      29, 2008 |   |
|--------------------------------------------------------------------------------------|--------|----------------------|---------|--------|------------------------|--------|
| ASSETS                                                                               |   |                 |    |   |                   |   |
| Current      Assets:                                                                 |   |                 |    |   |                   |   |
|    Cash      and cash equivalents                                     |   | $                    | 9,372   |   |                   | $      | 4,773 |   |
|    Short-term      investments, net                                   |   |                 | 453     |   |                   |   | 8,624 |   |
|    Accounts      receivable, less allowance for doubtful accounts     |   |                 |    |   |                   |   |   |   |
|       and      returns and allowances of $320 and $148 |   |                 | 3,005   |   |                   |   | 2,071 |   |
|    Inventories,      net                                              |   |                 | 20,341  |   |                   |   | 24,347 |   |
|    Deferred      income taxes                                         |   |                 | 679     |   |                   |   | 3,447 |   |
|    Other      current assets                                          |   |                 | 6,010   |   |                   |   | 5,537 |   |
| Total      current assets                                                            |   |                 | 39,860  |   |                   |   | 48,799 |   |
| Real      estate held for sale or lease, net                                         |   |                 | 129,393 |   |                   |   | 113,948 |   |
| Deferred      income taxes                                                           |   |                 | 4,053   |   |                   |   | - |   |
| Investment      in Centaur Media plc                                                 |   |                 | 3,305   |   |                   |   | 3,374 |   |
| Property      and equipment, net                                                     |   |                 | 2,815   |   |                   |   | 6,437 |   |
| Other      assets                                                                    |   |                 | 10,064  |   |                   |   | 9,117 |   |
| Total      assets                                                                    |   | $                    | 189,490 |   |                   | $      | 181,675 |   |
|                                                                                 |   |                 |    |   |                   |   |   |   |
| LIABILITIES      AND STOCKHOLDERS' EQUITY                                            |   |                 |    |   |                   |   |   |   |
| Current      Liabilities:                                                            |   |                 |    |   |                   |   |   |   |
|    Current      portion of long-term debt                             |   | $                    | 1,359   |   |                   | $      | 8,661 |   |
|    Accounts      payable and accrued liabilities                      |   |                 | 5,719   |   |                   |   | 5,240 |   |
|    Deferred      revenue                                              |   |                 | 1,697   |   |                   |   | 1,175 |   |
| Total      current liabilities                                                       |   |                 | 8,775   |   |                   |   | 15,076 |   |
| Long-term      debt                                                                  |   |                 | 60,430  |   |                   |   | 39,855 |   |
| Deferred      income taxes                                                           |   |                 | -       |   |                   |   | 1,257 |   |
| Other      noncurrent liabilities                                                    |   |                 | 4,430   |   |                   |   | 4,327 |   |
| Total      liabilities                                                               |   |                 | 73,635  |   |                   |   | 60,515 |   |
|                                                                                 |   |                 |    |   |                   |   |   |   |
| Commitments      and contingencies (Note 10)                                         |   |                 |    |   |                   |   |   |   |
|                                                                                 |   |                 |    |   |                   |   |   |   |
| Stockholders'      Equity:                                                           |   |                 |    |   |                   |   |   |   |
| Common      stock, par value $0.01 per share, 10,000,000 shares                      |   |                 |    |   |                   |   |   |   |
|    authorized,      5,469,402 and 5,455,382 shares issued,            |   |                 |    |   |                   |   |   |   |
|    respectively,      and 5,082,436 and 5,068,416 shares outstanding, |   |                 |    |   |                   |   |   |   |
|    respectively                                                       |   |                 | 55      |   |                   |   | 55 |   |
| Additional      paid-in capital                                                      |   |                 | 104,503 |   |                   |   | 103,997 |   |
| Retained      earnings                                                               |   |                 | 24,133  |   |                   |   | 29,888 |   |
| Accumulated      other comprehensive income, net of tax                              |   |                 | 590     |   |                   |   | 646 |   |
| Treasury      stock, at cost, 386,966 shares                                         |   |                 | (13,426 | )      |                   |   | (13,426 | ) |
| Total      stockholders' equity                                                      |   |                 | 115,855 |   |                   |   | 121,160 |   |
| Total      liabilities and stockholders' equity                                      |   | $                    | 189,490 |   |                   | $      | 181,675 |   |
|                                                                                 |   |                 |    |   |                   |   |   |   |

----

|                                                            |   | Shares      of Common Stock Issued |      |   | Common      Stock |   |   |  Additional  Paid-in Capital |   |   | Retained      Earnings |   |   | Accumulated      Other      Comprehensive Income |   |   | Treasury      Stock |   |   | Total  |   |   | Total Comprehensive      Loss |   |
|-----------------------------------------------------------------|--------|-----------------------------------------|-----------|--------|-------------------|--------|--------|--------------------------------------------------|--------|--------|------------------------|--------|--------|-------------------------------------------------------|--------|--------|---------------------|--------|--------|--------|--------|--------|------------------------------------|--------|
| Balance      at December 1, 2007                                |   |                                    | 5,321,232 |   |              | $      | 53     |                                             |   | $      | 101,703                |   |   | $                                                     | 40,199 |   |                | $      | 5,002  |   |   | $      | (8,054                             | )      |   | $ | 138,903 |   |   |   |   |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |
| Exercise      of stock options,                                 |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |
|          including shares tendered               |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |
|          related to stock options                |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |
|          exercised                               |   |                                    | 115,930   |   |              |   | 1      |                                             |   |   | 1,556                  |   |   |                                                  | -      |   |                |   | -      |   |   |   | (2,193                             | )      |   |   | (636 | ) |   |   |   |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |
| Stock-based      compensation                                   |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |
|     expense                                 |   |                                    | -         |   |              |   | -      |                                             |   |   | 133                    |   |   |                                                  | -      |   |                |   | -      |   |   |   | -                                  |   |   |   | 133 |   |   |   |   |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |
| Repurchase      of common stock                                 |   |                                    | -         |   |              |   | -      |                                             |   |   | -                      |   |   |                                                  | -      |   |                |   | -      |   |   |   | (2,880                             | )      |   |   | (2,880 | ) |   |   |   |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |
| Dividends      declared, $0.30 per                              |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |
|     share                                   |   |                                    | -         |   |              |   | -      |                                             |   |   | -                      |   |   |                                                  | (1,519 | )      |                |   | -      |   |   |   | -                                  |   |   |   | (1,519 | ) |   |   |   |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |
| Net      loss                                                   |   |                                    | -         |   |              |   | -      |                                             |   |   | -                      |   |   |                                                  | (3,255 | )      |                |   | -      |   |   |   | -                                  |   |   |   | (3,255 | ) |   | $ | (3,255 | ) |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
| Other      comprehensive loss,                                  |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
|     from      Centaur Media plc,            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
|     net      of tax                         |   |                                    | -         |   |              |   | -      |                                             |   |   | -                      |   |   |                                                  | -      |   |                |   | (2,208 | )      |   |   | -                                  |   |   |   | (2,208 | ) |   |   | (2,208 | ) |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
| Balance      at August 30, 2008                                 |   |                                    | 5,437,162 |   |              | $      | 54     |                                             |   | $      | 103,392                |   |   | $                                                     | 35,425 |   |                | $      | 2,794  |   |   | $      | (13,127                            | )      |   | $ | 128,538 |   |   | $ | (5,463 | ) |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
| Balance      at November 29, 2008                               |   |                                    | 5,455,382 |   |              | $      | 55     |                                             |   | $      | 103,997                |   |   | $                                                     | 29,888 |   |                | $      | 646    |   |   | $      | (13,426                            | )      |   | $ | 121,160 |   |   |   |   |   |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
| Exercise      of stock options                                  |   |                                    | 14,020    |   |              |   | -      |                                             |   |   | 232                    |   |   |                                                  | -      |   |                |   | -      |   |   |   | -                                  |   |   |   | 232 |   |   |   |   |   |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
| Stock-based      compensation                                   |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
|     expense                                 |   |                                    | -         |   |              |   | -      |                                             |   |   | 274                    |   |   |                                                  | -      |   |                |   | -      |   |   |   | -                                  |   |   |   | 274 |   |   |   |   |   |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
| Dividends      declared, $0.30  per                   |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
|     share                                   |   |                                    | -         |   |              |   | -      |                                             |   |   | -                      |   |   |                                                  | (1,524 | )      |                |   | -      |   |   |   | -                                  |   |   |   | (1,524 | ) |   |   |   |   |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
| Net      loss                                                   |   |                                    | -         |   |              |   | -      |                                             |   |   | -                      |   |   |                                                  | (4,231 | )      |                |   | -      |   |   |   | -                                  |   |   |   | (4,231 | ) |   | $ | (4,231 | ) |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
| Other      comprehensive loss,                                  |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
|     from      cash flow hedging             |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
|     transactions,      net of tax           |   |                                    | -         |   |              |   | -      |                                             |   |   | -                      |   |   |                                                  | -      |   |                |   | (11    | )      |   |   | -                                  |   |   |   | (11 | ) |   |   | (11 | ) |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
| Other      comprehensive loss,                                  |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
|     from      Centaur Media plc,            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
|     net      of tax                         |   |                                    | -         |   |              |   | -      |                                             |   |   | -                      |   |   |                                                  | -      |   |                |   | (45    | )      |   |   | -                                  |   |   |   | (45 | ) |   |   | (45 | ) |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
| Balance      at August 29, 2009                                 |   |                                    | 5,469,402 |   |              | $      | 55     |                                             |   | $      | 104,503                |   |   | $                                                     | 24,133 |   |                | $      | 590    |   |   | $      | (13,426                            | )      |   | $ | 115,855 |   |   | $ | (4,287 | ) |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
|                                                            |   |                                    |      |   |              |   |   |                                             |   |   |                   |   |   |                                                  |   |   |                |   |   |   |   |   |                               |   |   |   |   |   |   |   |   |   |
|        See      Notes to Consolidated FinancialStatements. |

----

|                                                                                    |   | For      the 39 Weeks Ended, |    |
|-----------------------------------------------------------------------------------------|--------|------------------------------|---------|
|                                                                                    |   | August      29, 2009         |    |   | August      30, 2008 |   |
| Operating      activities:                                                              |   |                         |    |   |   |   |
| Net      loss                                                                           |   | $                            | (4,231  | ) |   | $ | (3,255 | ) |
| Adjustments      to reconcile net loss to net cash                                      |   |                         |    |   |   |   |   |   |
| provided      by operating activities:                                                  |   |                         |    |   |   |   |   |   |
|    Depreciation      and amortization                                    |   |                         | 4,839   |   |   |   | 4,695 |   |
|    Deferred      income tax benefit                                      |   |                         | (2,512  | ) |   |   | (299 | ) |
|    Provision      for inventory losses                                   |   |                         | 1,129   |   |   |   | 550 |   |
|    Stock-based      compensation expense                                 |   |                         | 274     |   |   |   | 133 |   |
|    Amortization      of debt issuance costs                              |   |                         | 143     |   |   |   | 75 |   |
|    Provision      for bad debts                                          |   |                         | 104     |   |   |   | 35 |   |
|    Change      in unrealized gains on trading securities                 |   |                         | 78      |   |   |   | 14 |   |
|    Equity      income from equity investment                             |   |                         | (7      | ) |   |   | (6 | ) |
|    Gain      on sales of properties                                      |   |                         | -       |   |   |   | (903 | ) |
|    Payment      of employee withholding taxes on stock options exercised |   |                         | -       |   |   |   | (769 | ) |
| Changes      in assets and liabilities:                                                 |   |                         |    |   |   |   |   |   |
|    Short-term      investments                                           |   |                         | 8,093   |   |   |   | 12,238 |   |
|    Accounts      receivable                                              |   |                         | (1,038  | ) |   |   | (1,648 | ) |
|    Inventories                                                           |   |                         | 2,877   |   |   |   | (1,029 | ) |
|    Other      current assets                                             |   |                         | (473    | ) |   |   | (2,128 | ) |
|    Accounts      payable and accrued liabilities                         |   |                         | (199    | ) |   |   | 178 |   |
|    Deferred      revenue                                                 |   |                         | 238     |   |   |   | 718 |   |
|    Other      noncurrent assets and noncurrent liabilities, net          |   |                         | (330    | ) |   |   | (290 | ) |
| Net      cash provided by operating activities                                          |   |                         | 8,985   |   |   |   | 8,309 |   |
|                                                                                    |   |                         |    |   |   |   |   |   |
| Investing      activities:                                                              |   |                         |    |   |   |   |   |   |
| Additions      to real estate held for sale or lease                                    |   |                         | (15,487 | ) |   |   | (8,664 | ) |
| Additions      to property and equipment                                                |   |                         | (40     | ) |   |   | (407 | ) |
| Net      cash used in investing activities                                              |   |                         | (15,527 | ) |   |   | (9,071 | ) |
|                                                                                    |   |                         |    |   |   |   |   |   |
| Financing      activities:                                                              |   |                         |    |   |   |   |   |   |
| Proceeds      from borrowings                                                           |   |                         | 21,636  |   |   |   | - |   |
| Payments      of debt                                                                   |   |                         | (8,363  | ) |   |   | (936 | ) |
| Dividends      paid to stockholders                                                     |   |                         | (1,523  | ) |   |   | (1,522 | ) |
| Debt      issuance costs                                                                |   |                         | (841    | ) |   |   | - |   |
| Exercise      of stock options                                                          |   |                         | 232     |   |   |   | 133 |   |
| Repurchase      of common stock                                                         |   |                         | -       |   |   |   | (2,880 | ) |
| Net      cash provided by (used in) financing activities                                |   |                         | 11,141  |   |   |   | (5,205 | ) |
| Net      increase (decrease) in cash and cash equivalents                               |   |                         | 4,599   |   |   |   | (5,967 | ) |
| Cash      and cash equivalents at beginning of period                                   |   |                         | 4,773   |   |   |   | 11,120 |   |
| Cash      and cash equivalents at end of period                                         |   | $                            | 9,372   |   |   | $ | 5,153 |   |
|                                                                                    |   |                         |    |   |   |   |   |   |

----

----

----

----

|   |                                               |   | For      the 13 Weeks Ended, |   |   | For      the 39 Weeks Ended, |   |
|--------|----------------------------------------------------|--------|------------------------------|--------|--------|------------------------------|--------|
|   |                                               |   | August      29, 2009    |   |   | August      30, 2008    |   |   | August      29, 2009 |   |   | August      30, 2008 |   |
|   | Total      revenue:                                |   |                         |   |   |                         |   |   |   |   |   |   |   |
|   | Landscape      nursery net sales and other revenue |   | $                            | 3,528  |   |                         | $      | 3,824 |   |   | $ | 19,545 |   |   | $ | 21,301 |   |
|   | Rental      revenue and property sales             |   |                         | 4,246  |   |                         |   | 4,040 |   |   |   | 12,570 |   |   |   | 12,108 |   |
|   |                                               |   | $                            | 7,774  |   |                         | $      | 7,864 |   |   | $ | 32,115 |   |   | $ | 33,409 |   |
|   | Operating      (loss) profit:                      |   |                         |   |   |                         |   |   |   |   |   |   |   |   |   |   |   |
|   |    Landscape      nursery           |   | $                            | (1,175 | )      |                         | $      | (1,096 | ) |   | $ | (2,223 | ) |   | $ | (1,250 | ) |
|   |    Real      estate                 |   |                         | 618    |   |                         |   | 606 |   |   |   | 1,196 |   |   |   | 992 |   |
|   |    Industry      segment totals     |   |                         | (557   | )      |                         |   | (490 | ) |   |   | (1,027 | ) |   |   | (258 | ) |
|   |    General      corporate expense   |   |                         | (1,001 | )      |                         |   | (992 | ) |   |   | (3,362 | ) |   |   | (3,320 | ) |
|   | Operating      loss                                |   |                         | (1,558 | )      |                         |   | (1,482 | ) |   |   | (4,389 | ) |   |   | (3,578 | ) |
|   | Interest      expense                              |   |                         | (880   | )      |                         |   | (762 | ) |   |   | (2,506 | ) |   |   | (2,423 | ) |
|   | Investment      income                             |   |                         | 28     |   |                         |   | 106 |   |   |   | 152 |   |   |   | 675 |   |
|   | Loss      before income tax benefit                |   | $                            | (2,410 | )      |                         | $      | (2,138 | ) |   | $ | (6,743 | ) |   | $ | (5,326 | ) |
|   |                                               |   |                         |   |   |                         |   |   |   |   |   |   |   |   |   |   |   |

|   |                         |   |                 |    |                   |   |
|--------|------------------------------|--------|----------------------|---------|------------------------|--------|
|   | Identifiable      assets:    |   | August      29, 2009 |    | November      29, 2008 |   |
|   | Landscape      nursery       |   | $                    | 29,151  |                   | $      | 32,984 |   |
|   | Real      estate             |   |                 | 139,921 |                   |   | 125,611 |   |
|   | Industry      segment totals |   |                 | 169,072 |                   |   | 158,595 |   |
|   | General      corporate       |   |                 | 20,418  |                   |   | 23,080 |   |
|   | Total      assets            |   | $                    | 189,490 |                   | $      | 181,675 |   |
|   |                         |   |                 |    |                   |   |   |   |

----

|   |                                                                                                     |   |   |   |
|--------|----------------------------------------------------------------------------------------------------------|--------|--------|--------|
|   | Balance      at beginning of period                                                                      |   | $      | 7,311  |   |
|   |                                                                                                     |   |   |   |   |
|   | Reductions      to the reserve related to disposal of inventories                                        |   |   | (7,106 | ) |
|   |                                                                                                     |   |   |   |   |
|   | Reductions      to the reserve due to the difference between estimated and actual amounts      recovered |   |   | (205   | ) |
|   |                                                                                                     |   |   |   |   |
|   | Balance      at end of period                                                                            |   | $      | -      |   |
|   |                                                                                                     |   |   |   |   |

|   | Balance      of fiscal 2009 | $50    |   |
|--------|-----------------------------|--------|--------|
|   | Fiscal      2010            | $216   |   |
|   | Fiscal      2011            | $267   |   |
|   | Fiscal      2012            | $400   |   |
|   | Fiscal      2013            | $600   |   |
|   | Later      years            | $1,000 |   |

----

|   |                        |   | August      29, 2009 |   | November      29, 2008 |   |
|--------|-----------------------------|--------|----------------------|--------|------------------------|--------|
|   |                        |   |                 |   |                   |   |
|   | Nursery      stock          |   | $                    | 20,304 |                   | $      | 30,051 |   |
|   | Materials      and supplies |   |                 | 1,029  |                   |   | 2,017 |   |
|   |                        |   |                 | 21,333 |                   |   | 32,068 |   |
|   | Reserves                    |   |                 | (992   | )                 |   | (7,721 | ) |
|   |                        |   | $                    | 20,341 |                   | $      | 24,347 |   |
|   |                        |   |                 |   |                   |   |   |   |

|   |                            |                                                  |   | August      29, 2009 |   |
|--------|---------------------------------|-------------------------------------------------------|--------|----------------------|--------|
|   |                            | Estimated Useful      Lives                      |   | Held      for Sale   |   | Held      for Lease |   | Total |   |
|   | Land                            |                                                  |   | $                    | 1,634  |   | $ | 8,048 |   | $ | 9,682 |   |
|   | Land      improvements          | 10      to 30 years                                   |   |                 | 691    |   |   | 12,920 |   |   | 13,611 |   |
|   | Buildings      and improvements | 10      to 40 years                                   |   |                 | -      |   |   | 124,560 |   |   | 124,560 |   |
|   | Tenant      improvements        | Shorter      of useful life or terms of related lease |   |                 | -      |   |   | 12,522 |   |   | 12,522 |   |
|   | Development      costs          |                                                  |   |                 | 6,542  |   |   | 4,203 |   |   | 10,745 |   |
|   |                            |                                                  |   |                 | 8,867  |   |   | 162,253 |   |   | 171,120 |   |
|   | Accumulated      depreciation   |                                                  |   |                 | -      |   |   | (41,727 | ) |   | (41,727 | ) |
|   |                            |                                                  |   | $                    | 8,867  |   | $ | 120,526 |   | $ | 129,393 |   |
|   |                            |                                                  |   |                 |   |   |   |   |   |   |   |   |

----

|   |                            |                                                  |   | November      29, 2008 |   |
|--------|---------------------------------|-------------------------------------------------------|--------|------------------------|--------|
|   |                            | Estimated Useful      Lives                      |   | Held      for Sale     |   | Held      for Lease |   | Total |   |
|   | Land                            |                                                  |   | $                      | 1,634  |   | $ | 7,770 |   | $ | 9,404 |   |
|   | Land      improvements          | 10      to 30 years                                   |   |                   | 691    |   |   | 7,729 |   |   | 8,420 |   |
|   | Buildings      and improvements | 10      to 40 years                                   |   |                   | -      |   |   | 103,651 |   |   | 103,651 |   |
|   | Tenant      improvements        | Shorter      of useful life or terms of related lease |   |                   | -      |   |   | 11,464 |   |   | 11,464 |   |
|   | Development      costs          |                                                  |   |                   | 6,151  |   |   | 5,314 |   |   | 11,465 |   |
|   |                            |                                                  |   |                   | 8,476  |   |   | 135,928 |   |   | 144,404 |   |
|   | Accumulated      depreciation   |                                                  |   |                   | -      |   |   | (30,456 | ) |   | (30,456 | ) |
|   |                            |                                                  |   | $                      | 8,476  |   | $ | 105,472 |   | $ | 113,948 |   |
|   |                            |                                                  |   |                   |   |   |   |   |   |   |   |   |

|   |                              |   |                 |   |                   |   |   |   |            |   |
|--------|-----------------------------------|--------|----------------------|--------|------------------------|--------|--------|--------|-----------------|--------|
|   |                              |   | August      29, 2009 |   | November      29, 2008 |   |
|   |                              |   | Cost                 |   | Fair      Value        |   | Cost   |   | Fair      Value |   |
|   | U.S.      Treasury securities     |   | $                    | 454    |                   | $      | 453    |   | $               | 8,433  |   | $ | 8,510 |   |
|   | Certificates      of deposit      |   |                 | -      |                   |   | -      |   |            | 114    |   |   | 114 |   |
|   | Total      short-term investments |   | $                    | 454    |                   | $      | 453    |   | $               | 8,547  |   | $ | 8,624 |   |
|   |                              |   |                 |   |                   |   |   |   |            |   |   |   |   |   |

----

|   |                                                           |   | For      the 13 Weeks Ended, |   | For      the 39 Weeks Ended, |   |
|--------|----------------------------------------------------------------|--------|------------------------------|--------|------------------------------|--------|
|   |                                                           |   | August      29, 2009         |   | August      30, 2008         |   | August      29, 2009 |   | August      30, 2008 |   |
|   |                                                           |   |                         |   |                         |   |   |   |   |   |
|   | Interest      and dividend income                              |   | $                            | 28     |                         | $      | 32 |   | $ | 115 |   | $ | 222 |   |
|   | Net      realized gains on the sales of short-term investments |   |                         | -      |                         |   | 41 |   |   | 108 |   |   | 461 |   |
|   | Change      in unrealized gains on short-term investments      |   |                         | -      |                         |   | 33 |   |   | (78 | )  |   | (14 | ) |
|   | Other      investment income                                   |   |                         | -      |                         |   | - |   |   | 7 |   |   | 6 |   |
|   |                                                           |   | $                            | 28     |                         | $      | 106 |   | $ | 152 |   | $ | 675 |   |
|   |                                                           |   |                         |   |                         |   |   |   |   |   |   |   |   |   |

|   |                                                                         |   | August      29, 2009 |   |   | November      29, 2008 |   |
|--------|------------------------------------------------------------------------------|--------|----------------------|--------|--------|------------------------|--------|
|   | Nonrecourse      mortgages:                                                  |   |                 |   |   |                   |   |
|   |     8.54%,      due July 1, 2009 (prepaid April 1, 2009) |   | $                    | -      |   |                   | $      | 7,482 |   |
|   |     6.08%,      due January 1, 2013                      |   |                 | 7,473  |   |                   |   | 7,634 |   |
|   |     6.30%,      due May 1, 2014                          |   |                 | 830    |   |                   |   | 939 |   |
|   |     5.73%,      due July 1, 2015                         |   |                 | 20,179 |   |                   |   | 20,418 |   |
|   |     8.13%,      due April 1, 2016                        |   |                 | 4,877  |   |                   |   | 5,060 |   |
|   |     7.0%,      due October 1, 2017                       |   |                 | 6,682  |   |                   |   | 6,816 |   |
|   |     Variable      rate mortgage, due July 1, 2019        |   |                 | 8,500  |   |                   |   | - |   |
|   | Total      nonrecourse mortgages                                             |   |                 | 48,541 |   |                   |   | 48,349 |   |
|   | Variable      rate construction to permanent mortgage loan                   |   |                 | 10,636 |   |                   |   | - |   |
|   | Revolving      line of credit                                                |   |                 | 2,500  |   |                   |   | - |   |
|   | Capital      leases                                                          |   |                 | 112    |   |                   |   | 167 |   |
|   | Total                                                                        |   |                 | 61,789 |   |                   |   | 48,516 |   |
|   | Less:      current portion                                                   |   |                 | (1,359 | )      |                   |   | (8,661 | ) |
|   | Total      long-term debt                                                    |   | $                    | 60,430 |   |                   | $      | 39,855 |   |
|   |                                                                         |   |                 |   |   |                   |   |   |   |

----

----

|   |                                                            |   | For      the 13 Weeks Ended, |      |                      | For      the 39 Weeks Ended, |      |
|--------|-----------------------------------------------------------------|--------|------------------------------|-----------|---------------------------|------------------------------|-----------|
|   |                                                            |   | August      29, 2009    |      | August      30, 2008 |                         |      | August      29, 2009 |   | August      30, 2008 |   |
|   |                                                            |   |                         |      |                      |                         |      |   |   |   |   |
|   | Net      loss as reported for computation                       |   |                         |      |                      |                         |      |   |   |   |   |
|   |    of      basic and diluted per share results   |   | $                            | (1,436    | )                         | $                            | (1,269    | ) |   | $ | (4,231 | ) | $ | (3,255 | ) |
|   |                                                            |   |                         |      |                      |                         |      |   |   |   |   |   |   |   |   |
|   | Weighted      average shares outstanding for                    |   |                         |      |                      |                         |      |   |   |   |   |   |   |   |   |
|   |    computation      of basic per share results   |   |                         | 5,082,000 |                      |                         | 5,044,000 |   |   |   | 5,077,000 |   |   | 5,060,000 |   |
|   |                                                            |   |                         |      |                      |                         |      |   |   |   |   |   |   |   |   |
|   | Incremental      shares from assumed exercise                   |   |                         |      |                      |                         |      |   |   |   |   |   |   |   |   |
|   |    of      Griffin stock options (a)             |   |                         | -         |                      |                         | -         |   |   |   | - |   |   | - |   |
|   |                                                            |   |                         |      |                      |                         |      |   |   |   |   |   |   |   |   |
|   | Weighted      average shares outstanding for                    |   |                         |      |                      |                         |      |   |   |   |   |   |   |   |   |
|   |    computation      of diluted per share results |   |                         | 5,082,000 |                      |                         | 5,044,000 |   |   |   | 5,077,000 |   |   | 5,060,000 |   |
|   |                                                            |   |                         |      |                      |                         |      |   |   |   |   |   |   |   |   |

----

|   | (a) | Incremental      shares from the assumed exercise of Griffin stock options are not included      in periods where the inclusion of such shares would be      anti-dilutive.  The incremental shares from the assumed exercise      of stock options in the thirteen and thirty-nine weeks ended August 29,      2009 would have been 33,000 and 36,000, respectively.  The      incremental shares from the assumed exercise of stock options in the      thirteen and thirty-nine weeks ended August 30, 2008 would have been      72,000 and 87,000, respectively. |   |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|

|   |  For      the 39 Weeks Ended, |   |
|--------|------------------------------------|--------|
|   |  August      29, 2009         |   | August      30, 2008 |   |
|   | Number      of Options             |   | Fair      Value per Option |   | Number      of Options |   | Fair      Value per Option |   |
|   |                               |   |   |   |   |   |   |   |
|   | 22,500                             |   | $ | 14.88 |   | 25,000 |   | $ | 14.82 |   |
|   | 22,500                             |   | $ | 14.40 |   | 4,704 |   | $ | 14.95 |   |
|   | 15,000                             |   | $ | 10.54 |   |   |   |   |   |   |
|   | 8,514                              |   | $ | 13.02 |   |   |   |   |   |   |
|   | 1,749                              |   | $ | 15.53 |   |   |   |   |   |   |
|   |                               |   |   |   |   |   |   |   |   |   |

----

|   |                         |  For      the 39 Weeks Ended, |   |
|--------|------------------------------|------------------------------------|--------|
|   |                         |  August      29, 2009         |        | August      30, 2008 |   |
|   |                         |                               |   |   |   |
|   | Expected      volatility     | 37.7%      to 43.5%                |   | 38.6%      to 41.1% |   |
|   | Risk      free interest rate | 1.6%      to 2.7%                  |   | 3.5% |   |
|   | Expected      option term    |  5      to 8.5 years          |   |  7      to 8 years |   |
|   | Annual      dividend yield   | $0.40                              |   | $0.40 |   |
|   |                         |                               |   |   |   |

|   |                                    |   | For      the 39 Weeks Ended, |    |
|--------|-----------------------------------------|--------|------------------------------|---------|
|   |                                    |   | August      29, 2009         |    |   | August      30, 2008 |   |
|   | Vested      Options                     |   | Number      of Shares        |    |   | Weighted      Avg. Exercise Price |   |   | Number      of Shares |   |   | Weighted      Avg. Exercise Price |   |
|   | Outstanding      at beginning of period |   |                         | 89,368  |   |   | $ | 15.56 |   |   |   | 218,378 |   |   | $ | 14.13 |   |
|   | Exercised                               |   |                         | (14,020 | ) |   | $ | 16.59 |   |   |   | (115,930 | ) |   | $ | 13.43 |   |
|   | Vested                                  |   |                         | 6,154   |   |   | $ | 34.57 |   |   |   | 5,140 |   |   | $ | 31.13 |   |
|   | Granted      and vested                 |   |                         | 1,749   |   |   | $ | 34.30 |   |   |   | - |   |   |   | - |   |
|   | Forfeited                               |   |                         | (2,118  | ) |   | $ | 31.06 |   |   |   | - |   |   |   | - |   |
|   | Outstanding      at end of period       |   |                         | 81,133  |   |   | $ | 16.82 |   |   |   | 107,588 |   |   | $ | 15.70 |   |
|   |                                    |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |

|   |                                             |         |   |                                          |   |   |                              |   |   |                                                          |   |   |                            |   |   |                       |   |
|--------|--------------------------------------------------|--------------|--------|-----------------------------------------------|--------|--------|-----------------------------------|--------|--------|---------------------------------------------------------------|--------|--------|---------------------------------|--------|--------|----------------------------|--------|
|   | Range      of Exercise Prices for Vested Options |         |   | Outstanding      at August      29, 2009 |   |   | Weighted      Avg. Exercise Price |   |   | Weighted      Avg. Remaining Contractual Life (in      years) |   |   | Total Intrinsic Value |   |   | Total Fair Value |   |
|   | $                                                | 11.00-$14.00 |   |                                          |   | 48,544 |                              |   | $      | 11.95                                                         |   |   |                            | 1.2    |   |                       | $      | 903 |   |   | $ | 239 |   |
|   | $                                                | 15.00-$18.00 |   |                                          |   | 15,322 |                              |   | $      | 16.80                                                         |   |   |                            | 2.1    |   |                       |   | 210 |   |   |   | 98 |   |
|   | $                                                | 24.00-$39.00 |   |                                          |   | 17,267 |                              |   | $      | 30.52                                                         |   |   |                            | 6.7    |   |                       |   | 34 |   |   |   | 275 |   |
|   |                                             |         |   |                                          |   | 81,133 |                              |   | $      | 16.82                                                         |   |   |                            | 2.5    |   |                       | $      | 1,147 |   |   | $ | 612 |   |
|   |                                             |         |   |                                          |   |   |                              |   |   |                                                          |   |   |                            |   |   |                       |   |   |   |   |   |   |   |

----

|   |                                  |   | For      the 39 Weeks Ended, |    |
|--------|---------------------------------------|--------|------------------------------|---------|
|   |                                  |   | August      29, 2009         |    |   | August      30, 2008 |   |
|   | Nonvested      Options                |   | Number      of Shares        |    |   | Weighted      Avg. Exercise Price |   |   | Number      of Shares |   |   | Weighted      Avg. Exercise Price |   |
|   | Nonvested      at beginning of period |   |                         | 40,684  |   |   | $ | 33.66 |   |   |   | 18,348 |   |   | $ | 32.62 |   |
|   | Granted                               |   |                         | 68,514  |   |   | $ | 32.46 |   |   |   | 29,704 |   |   | $ | 34.03 |   |
|   | Vested                                |   |                         | (6,154  | ) |   | $ | 34.57 |   |   |   | (5,140 | ) |   | $ | 31.13 |   |
|   | Forfeited                             |   |                         | (1,667  | ) |   | $ | 30.95 |   |   |   | (2,228 | ) |   | $ | 35.89 |   |
|   | Nonvested      at end of period       |   |                         | 101,377 |   |   | $ | 32.84 |   |   |   | 40,684 |   |   | $ | 33.66 |   |
|   |                                  |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |

|   |                                                |         |   |                                          |   |    |                              |   |   |                                                          |   |   |                            |   |   |                       |   |
|--------|-----------------------------------------------------|--------------|--------|-----------------------------------------------|--------|---------|-----------------------------------|--------|--------|---------------------------------------------------------------|--------|--------|---------------------------------|--------|--------|----------------------------|--------|
|   | Range      of Exercise Prices for Nonvested Options |         |   | Outstanding      at August      29, 2009 |   |    | Weighted      Avg. Exercise Price |   |   | Weighted      Avg. Remaining Contractual Life (in      years) |   |   | Total Intrinsic Value |   |   | Total Fair Value |   |
|   | $                                                   | 28.00-$31.00 |   |                                          |   | 12,849  |                              |   | $      | 29.12                                                         |   |   |                            | 8.8    |   |                       | $      | 20 |   |   | $ | 183 |   |
|   | $                                                   | 33.00-$35.00 |   |                                          |   | 88,528  |                              |   | $      | 33.38                                                         |   |   |                            | 9.1    |   |                       |   | - |   |   |   | 1,240 |   |
|   |                                                |         |   |                                          |   | 101,377 |                              |   | $      | 32.84                                                         |   |   |                            | 9.0    |   |                       | $      | 20 |   |   | $ | 1,423 |   |
|   |                                                |         |   |                                          |   |    |                              |   |   |                                                          |   |   |                            |   |   |                       |   |   |   |   |   |   |   |

|   | Number      of option holders at August 29, 2009 |   | 21     |   |
|--------|--------------------------------------------------|--------|--------|--------|
|   |                                             |   |   |   |

|   | Balance      of Fiscal 2009 | $92  |   |
|--------|-----------------------------|------|--------|
|   | Fiscal      2010            | $349 |   |
|   | Fiscal      2011            | $263 |   |
|   | Fiscal      2012            | $141 |   |
|   | Fiscal      2013            | $56  |   |
|   | Fiscal      2014            | $7   |   |

----

|   |                                                                             |   | For      the 39 Weeks Ended, |   |
|--------|----------------------------------------------------------------------------------|--------|------------------------------|--------|
|   |                                                                             |   | Aug.      29, 2009           |   |   | Aug.      30, 2008 |   |
|   |                                                                             |   |                         |   |   |   |   |
|   | Balance      at beginning of period                                              |   | $                            | 646    |   |   | $ | 5,002 |   |
|   | Decrease      in fair value of Centaur Media, net of taxes of ($85)              |   |                         |   |   |   |   |   |   |
|   |    and      ($874), respectively                                  |   |                         | (159   | ) |   |   | (1,622 | ) |
|   | Increase      (decrease) in fair value of Centaur Media, due to exchange         |   |                         |   |   |   |   |   |   |
|   |    gain      (loss), net of taxes of $61 and ($315), respectively |   |                         | 114    |   |   |   | (586 | ) |
|   | Decrease      in value of cash flow hedges, net of tax of ($6)                   |   |                         | (11    | ) |   |   | - |   |
|   | Balance      at end of period                                                    |   | $                            | 590    |   |   | $ | 2,794 |   |
|   |                                                                             |   |                         |   |   |   |   |   |   |

|   |                                                                       |   |               |   |   |               |   |   |   |
|--------|----------------------------------------------------------------------------|--------|--------------------|--------|--------|--------------------|--------|--------|--------|
|   | Accumulated      other comprehensive income is comprised of the following: |   |               |   |   |               |   |   |   |
|   |                                                                       |   |               |   |   |               |   |   |   |
|   |                                                                       |   | Aug.      29, 2009 |   |   | Nov.      29, 2008 |   |
|   | Change      in the value of Centaur Media plc                              |   | $                  | 417    |   |               | $      | 462    |   |
|   | Actuarial      gain on postretirement benefit plan                         |   |               | 184    |   |               |   | 184    |   |
|   | Change      in value of cash flow hedges                                   |   |               | (11    | )      |               |   | -      |   |
|   |                                                                       |   | $                  | 590    |   |               | $      | 646    |   |
|   |                                                                       |   |               |   |   |               |   |   |   |

----

|   |                               |   | Quoted      Prices in Active Markets for Identical Assets (Level      1) |   |   | Significant      Observable Inputs (Level      2) |   |   | Significant      Unobservable Inputs (Level      3) |   |
|--------|------------------------------------|--------|-------------------------------------------------------------------------------|--------|--------|--------------------------------------------------------|--------|--------|----------------------------------------------------------|--------|
|   |                               |   |                                                                          |   |   |                                                   |   |   |                                                     |   |   |   |   |
|   | Trading      securities            |   | $                                                                             | 453    |   |                                                   | $      | -      |                                                     |   | $ | - |   |
|   |                               |   |                                                                          |   |   |                                                   |   |   |                                                     |   |   |   |   |
|   | Available      for sale securities |   | $                                                                             | 3,305  |   |                                                   | $      | -      |                                                     |   | $ | - |   |
|   |                               |   |                                                                          |   |   |                                                   |   |   |                                                     |   |   |   |   |
|   | Interest      rate swaps           |   | $                                                                             | -      |   |                                                   | $      | (17    | )                                                        |   | $ | - |   |
|   |                               |   |                                                                          |   |   |                                                   |   |   |                                                     |   |   |   |   |

----

|   |                            | Estimated Useful      Lives |   |   | August      29, 2009 |    |   | November      29, 2008 |   |
|--------|---------------------------------|----------------------------------|--------|--------|----------------------|---------|--------|------------------------|--------|
|   | Land                            |                             |   |   | $                    | 436     |   |                   | $      | 715 |   |
|   | Land      improvements          | 10      to 20 years              |   |   |                 | 1,561   |   |                   |   | 5,650 |   |
|   | Buildings      and improvements | 10      to 40 years              |   |   |                 | 1,852   |   |                   |   | 3,060 |   |
|   | Machinery      and equipment    | 3      to 20 years               |   |   |                 | 11,827  |   |                   |   | 17,529 |   |
|   |                            |                             |   |   |                 | 15,676  |   |                   |   | 26,954 |   |
|   | Accumulated      depreciation   |                             |   |   |                 | (12,861 | )      |                   |   | (20,517 | ) |
|   |                            |                             |   |   | $                    | 2,815   |   |                   | $      | 6,437 |   |
|   |                            |                             |   |   |                 |    |   |                   |   |   |   |

----

----

| ITEM      2. | MANAGEMENT’S      DISCUSSION AND ANALYSIS OF FINANCIAL |
|--------------|--------------------------------------------------------------|
|         | CONDITION      AND RESULTS OF OPERATIONS                     |

----

----

|   |                         | TotalSquareFootage |   | SquareFootageLeased |   |  PercentageLeased |   |
|--------|------------------------------|--------------------|--------|---------------------|--------|------------------------|--------|
|   |                         |               |   |                |   |                   |   |
|   | As      of August 29, 2009   | 2,420,000          |   | 1,893,000           |   | 78%                    |   |
|   | As      of November 29, 2008 | 2,116,000          |   | 1,684,000           |   | 80%                    |   |
|   | As      of August 30, 2008   | 2,016,000          |   | 1,342,000           |   | 67%                    |   |

----

|   |                                                                         |   | 2009                        |   |   | 2008            |   |
|--------|------------------------------------------------------------------------------|--------|-----------------------------|--------|--------|-----------------|--------|
|   |                                                                         |   | Third      Qtr.             |   |   | Third      Qtr. |   |
|   |                                                                         |   | (dollars      in thousands) |   |
|   | Rental      revenue                                                          |   | $                           | 4,246  |   |            | $      | 3,785 |   |
|   | Costs      related to rental revenue excluding                               |   |                        |   |   |            |   |   |   |
|   |    depreciation      and amortization expense (a)             |   |                        | (1,659 | )      |            |   | (1,399 | ) |
|   | Profit      from leasing activities before general and                       |   |                        |   |   |            |   |   |   |
|   |    administrative      expenses and before depreciation       |   |                        |   |   |            |   |   |   |
|   |    and      amortization expense (a)                          |   |                        | 2,587  |   |            |   | 2,386 |   |
|   | Revenue      from property sales                                             |   |                        | -      |   |            |   | 255 |   |
|   | Costs      related to property sales                                         |   |                        | -      |   |            |   | 1 |   |
|   | Gain      from property sales                                                |   |                        | -      |   |            |   | 256 |   |
|   | Profit      from leasing activities and gain from property sales             |   |                        |   |   |            |   |   |   |
|   |    before      general and administrative expenses and before |   |                        |   |   |            |   |   |   |
|   |    depreciation      and amortization expense (a)             |   |                        | 2,587  |   |            |   | 2,642 |   |
|   | General      and administrative expenses excluding depreciation              |   |                        |   |   |            |   |   |   |
|   |         and amortization expense (a)                               |   |                        | (599   | )      |            |   | (800 | ) |
|   | Profit      before depreciation and amortization expense (a)                 |   |                        | 1,988  |   |            |   | 1,842 |   |
|   | Depreciation      and amortization expense related to costs of               |   |                        |   |   |            |   |   |   |
|   |         rental revenue                                             |   |                        | (1,362 | )      |            |   | (1,227 | ) |
|   | Depreciation      and amortization expense - other                           |   |                        | (8     | )      |            |   | (9 | ) |
|   | Operating      profit                                                        |   | $                           | 618    |   |            | $      | 606 |   |
|   |                                                                         |   |                        |   |   |            |   |   |   |

|   | (a) | The      costs related to rental revenue excluding depreciation and amortization      expense, profit from leasing activities before general and administrative      expenses and before depreciation and amortization expense, general and      administrative expenses excluding depreciation and amortization expense      and profit before depreciation and amortization expense are disclosures      not in conformity with accounting principles generally accepted in the      United States of America.  They are presented because Griffin      believes they are useful financial indicators for measuring the results of      its real estate business segment.  However, they should not be      considered as an alternative to operating profit as a    measure |   |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|

----

|  |   | of      operating results in accordance with accounting principles generally      accepted in the United States of America.  The aggregate of: (i)      costs related to rental revenue excluding depreciation and amortization      expense; (ii) costs related to property sales; and (iii) depreciation and      amortization expense related to costs of rental revenue, equals the costs      related to rental revenue and property sales as reported on Griffin’s      consolidated statement of operations. |   |
|--|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|

|   |                                              |   | 2009                        |   |   | 2008            |   |
|--------|---------------------------------------------------|--------|-----------------------------|--------|--------|-----------------|--------|
|   |                                              |   | Third      Qtr.             |   |   | Third      Qtr. |   |
|   |                                              |   | (dollars      in thousands) |   |
|   | Net      sales and other revenue                  |   | $                           | 3,528  |   |            | $      | 3,824 |   |
|   | Cost      of goods sold                           |   |                        | 3,715  |   |            |   | 3,797 |   |
|   | Gross      (loss) profit                          |   |                        | (187   | )      |            |   | 27 |   |
|   | Selling,      general and administrative expenses |   |                        | (988   | )      |            |   | (1,123 | ) |
|   | Operating      loss                               |   | $                           | (1,175 | )      |            | $      | (1,096 | ) |
|   |                                              |   |                        |   |   |            |   |   |   |

----

----

----

|   |                                                                    |   | 2009                        |   |   | 2008                   |   |
|--------|-------------------------------------------------------------------------|--------|-----------------------------|--------|--------|------------------------|--------|
|   |                                                                    |   | Nine      Month Period      |   |   | Nine      Month Period |   |
|   |                                                                    |   | (dollars      in thousands) |   |
|   |                                                                    |   |                        |   |   |                   |   |
|   | Rental      revenue                                                     |   | $                           | 12,570 |   |                   | $      | 11,027 |   |
|   | Costs      related to rental revenue excluding                          |   |                        |   |   |                   |   |   |   |
|   |    depreciation      and amortization expense (a)        |   |                        | (5,260 | )      |                   |   | (5,044 | ) |
|   | Profit      from leasing activities before general and                  |   |                        |   |   |                   |   |   |   |
|   |    administrative      expenses and before depreciation  |   |                        |   |   |                   |   |   |   |
|   |    and      amortization expense (a)                     |   |                        | 7,310  |   |                   |   | 5,983 |   |
|   |                                                                    |   |                        |   |   |                   |   |   |   |
|   | Revenue      from property sales                                        |   |                        | -      |   |                   |   | 1,081 |   |
|   | Costs      related to property sales                                    |   |                        | -      |   |                   |   | (178 | ) |
|   | Gain      from property sales                                           |   |                        | -      |   |                   |   | 903 |   |
|   |                                                                    |   |                        |   |   |                   |   |   |   |
|   | Profit      from leasing activities and gain from property sales        |   |                        |   |   |                   |   |   |   |
|   |         before general and administrative expenses and before |   |                        |   |   |                   |   |   |   |
|   |         depreciation and amortization expense (a)             |   |                        | 7,310  |   |                   |   | 6,886 |   |
|   | General      and administrative expenses excluding depreciation         |   |                        |   |   |                   |   |   |   |
|   |         and amortization expense (a)                          |   |                        | (2,000 | )      |                   |   | (2,164 | ) |
|   | Profit      before depreciation and amortization expense (a)            |   |                        | 5,310  |   |                   |   | 4,722 |   |
|   | Depreciation      and amortization expense related to costs of          |   |                        |   |   |                   |   |   |   |
|   |         rental revenue                                        |   |                        | (4,090 | )      |                   |   | (3,704 | ) |
|   | Depreciation      and amortization expense - other                      |   |                        | (24    | )      |                   |   | (26 | ) |
|   | Operating      profit                                                   |   | $                           | 1,196  |   |                   | $      | 992 |   |
|   |                                                                    |   |                        |   |   |                   |   |   |   |

|   |     (a) | The      costs related to rental revenue excluding depreciation and amortization      expense, profit from leasing activities before general and administrative      expenses and before depreciation and amortization expense, general and      administrative expenses excluding depreciation and amortization expense      and profit before depreciation and amortization expense are disclosures      not in conformity with accounting principles generally accepted in the      United States of America.  They are presented because Griffin      believes they are useful financial indicators for measuring the results of      its real estate business segment.  However, they should not be      considered as an alternative to operating profit as a measure of operating      results in accordance with accounting principles generally accepted in the      United States of America.  The aggregate of: (i) costs related      to rental revenue excluding depreciation and amortization expense; (ii)      costs related to property sales; and (iii) depreciation and amortization      expense related to costs of rental revenue, equals the costs related to      rental revenue and property sales as reported on Griffin’s consolidated      statement of operations. |   |
|--------|-----------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|

----

|   |                                              |   | 2009                        |   |   | 2008                   |   |
|--------|---------------------------------------------------|--------|-----------------------------|--------|--------|------------------------|--------|
|   |                                              |   | Nine      Month Period      |   |   | Nine      Month Period |   |
|   |                                              |   | (dollars      in thousands) |   |
|   |                                              |   |                        |   |   |                   |   |
|   | Net      sales and other revenue                  |   | $                           | 19,545 |   |                   | $      | 21,301 |   |
|   | Cost      of goods sold                           |   |                        | 18,429 |   |                   |   | 18,716 |   |
|   | Gross      profit                                 |   |                        | 1,116  |   |                   |   | 2,585 |   |
|   | Selling,      general and administrative expenses |   |                        | (3,339 | )      |                   |   | (3,835 | ) |
|   | Operating      loss                               |   | $                           | (2,223 | )      |                   | $      | (1,250 | ) |
|   |                                              |   |                        |   |   |                   |   |   |   |

----

----

----

|                             |   | Total              |   |   | Due      Within One      Year |   |   | Due      From 1-3      Years |   |   | Due      From 3-5      Years |   |   | Due      in More Than 5 Years |   |
|----------------------------------|--------|--------------------|--------|--------|-------------------------------|--------|--------|------------------------------|--------|--------|------------------------------|--------|--------|-------------------------------|--------|
|                             |   | (in      millions) |   |
| Mortgages                        |   | $                  | 69.8   |   |                          | $      | 4.3    |                         |   | $      | 9.0                          |   |   | $                             | 14.5   |   |   | $ | 42.0 |   |
| Revolving      Line of Credit    |   |               | 2.5    |   |                          |   | -      |                         |   |   | 2.5                          |   |   |                          | -      |   |   |   | - |   |
| Capital      Lease Obligations   |   |               | 0.1    |   |                          |   | 0.1    |                         |   |   | -                            |   |   |                          | -      |   |   |   | - |   |
| Operating      Lease Obligations |   |               | 1.0    |   |                          |   | 0.2    |                         |   |   | 0.5                          |   |   |                          | 0.3    |   |   |   | - |   |
| Purchase      Obligations (1)    |   |               | 0.4    |   |                          |   | 0.4    |                         |   |   | -                            |   |   |                          | -      |   |   |   | - |   |
| Other      (2)                   |   |               | 2.0    |   |                          |   | -      |                         |   |   | -                            |   |   |                          | -      |   |   |   | 2.0 |   |
|                             |   | $                  | 75.8   |   |                          | $      | 5.0    |                         |   | $      | 12.0                         |   |   | $                             | 14.8   |   |   | $ | 44.0 |   |
|                             |   |               |   |   |                          |   |   |                         |   |   |                         |   |   |                          |   |   |   |   |   |   |

|   | (1) | Includes      obligations for infrastructure and project planning costs by Griffin Land      and for the purchase of plants and raw materials by    Imperial. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Includes      Griffin’s deferred compensation plan and other postretirement benefit      liabilities. |
|--------|-----|-------------------------------------------------------------------------------------------------------------|

----

| ITEM      3. | QUANTITATIVE      AND QUALITATIVE DISCLOSURES ABOUT MARKETRISK |
|--------------|----------------------------------------------------------------|

| ITEM      4. | CONTROLS      AND PROCEDURES |
|--------------|------------------------------|

----

----

| PART      II | OTHER      INFORMATION |
|--------------|------------------------|

| ITEM      1A. | RISK      FACTORS |   |
|---------------|-------------------|--------|

| ITEM      6. | EXHIBITS         |                                                                                                                                                                                                                                                                                                                                        |
|--------------|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|         |             |                                                                                                                                                                                                                                                                                                                                        |
|         | Exhibit      No. | Description                                                                                                                                                                                                                                                                                                                                 |
|         |             |                                                                                                                                                                                                                                                                                                                                        |
|         | 3.1              | Form      of Amended and Restated Certificate of Incorporation of Griffin Land &      Nurseries, Inc. (incorporated by reference to the Form 10 of Griffin Land      & Nurseries, Inc., filed April 8, 1997, as amended)                                                                                                            |
|         |             |                                                                                                                                                                                                                                                                                                                                        |
|         | 3.2              | Form      of Bylaws of Griffin Land & Nurseries, Inc. (incorporated by reference      to the Form 10 of Griffin Land & Nurseries, Inc., filed April 8,      1997, as amended)                                                                                                                                                  |
|         |             |                                                                                                                                                                                                                                                                                                                                        |
|         | 10.4             | Form      of Agricultural Lease between Griffin Land & Nurseries, Inc. and      General Cigar Holdings, Inc. (incorporated by reference to the      Registration Statement on Form S-1 of General Cigar Holdings, Inc., filed      December 24, 1996, as amended)                                                                       |
|         |             |                                                                                                                                                                                                                                                                                                                                        |
|         | 10.6             | Form      of 1997 Stock Option Plan of Griffin Land & Nurseries, Inc.      (incorporated by reference to the Form 10 of Griffin Land & Nurseries,      Inc., filed April 8, 1997, as amended)                                                                                                                                       |
|         |             |                                                                                                                                                                                                                                                                                                                                        |
|         | 10.7             | Form      of 401(k) Plan of Griffin Land & Nurseries, Inc. (incorporated by      reference to the Form 10 of Griffin Land & Nurseries, Inc., filed      April 8, 1997, as amended)                                                                                                                                                  |
|         |             |                                                                                                                                                                                                                                                                                                                                        |
|         | 10.17            | Loan      Agreement dated June 24, 1999 (incorporated by reference to Form 10-Q      dated August 28, 1999, filed October 8, 1999)                                                                                                                                                                                                          |
|         |             |                                                                                                                                                                                                                                                                                                                                        |
|         | 10.21            | Mortgage      Deed, Security Agreement, Financing Statement and Fixture Filing with      Absolute Assignment of Rents and Leases dated September 17, 2002 between      Tradeport Development I, LLC and Farm Bureau Life Insurance Company      (incorporated by reference to Form 10-Q dated August 31, 2002, filed      October 11, 2002) |
|         |             |                                                                                                                                                                                                                                                                                                                                        |
|         | 10.22            | Letter      of Agreement between Griffin Land & Nurseries, Inc. and USAA Real      Estate Company (incorporated by reference to Form 10-Q dated August 31,      2002, filed October 11, 2002)                                                                                                                                           |
|         |             |                                                                                                                                                                                                                                                                                                                                        |
|         | 10.23            | Agreement      of Purchase and Sale of Partnership Interest between Griffin Land &      Nurseries, Inc. and USAA Real Estate Company dated December 3, 2002      (incorporated by reference to Form 10-K dated November 30, 2002, filed      February 28, 2003)                                                                         |

----

|   |   |                                                                                                                                                                                                                                                                                                                                                         |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | 10.24  | Mortgage      Deed and Security Agreement dated December 17, 2002 between Griffin Center      Development IV, LLC and Webster Bank (incorporated by reference to Form      10-K dated November 30, 2002, filed February 28, 2003)                                                                                                                            |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
|   | 10.28  | Secured      Installment Note and First Amendment of Mortgage and Loan Documents dated      April 16, 2004, among Tradeport Development I, LLC, and Griffin Land &      Nurseries, Inc. and Farm Bureau Life Insurance Company (incorporated by      reference to Form 10-Q dated May 29, 2004, filed July 13,      2004)                                |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
|   | 10.29  | Mortgage      Deed Security Agreement, Fixture Filing, Financing Statement and      Assignment of Leases and Rents dated July 6, 2005 by Tradeport Development      II, LLC in favor of First Sunamerica Life Insurance Company (incorporated      by reference to Form 10-Q dated May 28, 2005, filed on November 2,      2005)                             |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
|   | 10.30  | Promissory      Note dated July 6, 2005 (incorporated by reference to Form 10-Q dated May      28, 2005, filed on November 2, 2005)                                                                                                                                                                                                                          |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
|   | 10.31  | Guaranty      Agreement as of July 6, 2005 by Griffin Land & Nurseries, Inc. in      favor of Sunamerica Life Insurance Company (incorporated by reference to      Form 10-Q dated May 28, 2005, filed on November 2,2005)                                                                                                                               |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
|   | 10.32  | Amended      and Restated Mortgage Deed Security Agreement, Fixture Filing, Financing      Statement and Assignment of Leases and Rents dated November 16, 2006 by      Tradeport Development II, LLC in favor of First Sunamerica Life Insurance      Company (incorporated by reference to Form 10-K dated December 2, 2006,      filed February 15, 2007) |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
|   | 10.33  | Amended      and Restated Promissory Note dated November 16, 2006 (incorporated by      reference to Form 10-K dated December 2, 2006, filed February 15,      2007)                                                                                                                                                                                         |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
|   | 10.34  | Guaranty      Agreement as of November 16, 2006 by Griffin Land & Nurseries, Inc. in      favor of Sunamerica Life Insurance Company (incorporated by reference to      Form 10-K dated December 2, 2006, filed February 15,  2007)                                                                                                                      |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
|   | 10.35  | Employment      Agreement by and between Imperial Nurseries, Inc. and Gregory Schaan dated      January 1, 2001, as amended April 9, 2008 (incorporated by reference to      Form 10-Q dated March 1, 2008, filed April 10, 2008)                                                                                                                            |
|   |   |                                                                                                                                                                                                                                                                                                                                                         |
|   | 10.36  | Construction      Loan and Security Agreement dated February 6, 2009 by and between      Tradeport Development III, LLC, Griffin Land & Nurseries, Inc., and      Berkshire Bank (incorporated by reference to Form 10-Q dated February 28,      2009, filed April 9, 2009)                                                                              |

----

|   |         |                                                                                                                                                                                                                                |
|--------|--------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | 10.37        | $12,000,000      Construction Note dated February 6, 2009 (incorporated by reference to      Form 10-Q dated February 28, 2009, filed April 9, 2009)                                                                                |
|   |         |                                                                                                                                                                                                                                |
|   | 10.38        | Revolving      Line of Credit Loan Agreement dated February 27, 2009 between Griffin Land      & Nurseries, Inc. and Doral Bank, FSB (incorporated by reference to      Form 10-Q dated February 28, 2009, filed April 9, 2009) |
|   |         |                                                                                                                                                                                                                                |
|   | 10.39        | $10,000,000      Promissory Note (Revolving Line of Credit) dated February 27, 2009      (incorporated by reference to Form 10-Q dated February 28, 2009, filed      April 9, 2009)                                                 |
|   |         |                                                                                                                                                                                                                                |
|   | 10.40      * | Loan      and Security Agreement dated July 9, 2009 between Griffin Land &      Nurseries, Inc. and People’s United Bank                                                                                                  |
|   |         |                                                                                                                                                                                                                                |
|   | 10.41      * | $10,500,000      Promissory Note dated July 9, 2009                                                                                                                                                                                 |
|   |         |                                                                                                                                                                                                                                |
|   | 31.1      *  | Certifications      of Chief Executive Officer Pursuant to Rule 13a-14(a), as Adopted Pursuant      to Section 302 of the Sarbanes-Oxley Act of 2002                                                                                |
|   |         |                                                                                                                                                                                                                                |
|   | 31.2      *  | Certifications      of Chief Financial Officer Pursuant to Rule 13a-14(a), as Adopted Pursuant      to Section 302 of the Sarbanes Oxley Act of 2002                                                                                |
|   |         |                                                                                                                                                                                                                                |
|   | 32.1      *  | Certifications      of Chief Executive Officer Pursuant to 18 U.S.C                                                                                                                                                                 |
|   |         | Section      1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of      2002                                                                                                                                        |
|   |         |                                                                                                                                                                                                                                |
|   | 32.2      *  | Certifications      of Chief Financial Officer Pursuant to 18 U.S.C                                                                                                                                                                 |
|   |         | Section      1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of      2002                                                                                                                                        |

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|   |                                  | GRIFFIN      LAND & NURSERIES, INC.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
|--------|---------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|   |                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
|   |                                  |        BY:  /s/ FREDERICK M.      DANZIGER                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|   | Date:  October      8, 2009 | Frederick      M. Danziger                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
|   |                                  | President      and Chief Executive Officer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
|   |                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
|   |                                  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
|   |                                  |                        BY:  /s/ ANTHONY J.      GALICI                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |
|   | Date:  October      8, 2009 | Anthony      J. Galici                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |
|   |                                  |                           Vice      President, Chief Financial Officer                                                                   and      Secretary |   |
|   |                                  |                                                 Chief      Accounting Officer                                                                                                                                                                                                                                                                                                                |   |

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