Contact Information: CONTACTS: Corporate John Thompson AeroGrow International, Inc. (303) 444-7755 Investor Budd Zuckerman Genesis Select Corporation (303) 415-0200
AeroGrow Launches International Expansion Into South Korea
Agreement Reached With Korea Fujifilm for Multichannel TV and Retail Launch; Opening Order for 5,000 AeroGardens Plus Seed Kits
| Source: AeroGrow International, Inc.
BOULDER, CO--(Marketwire - February 20, 2008) - AeroGrow International, Inc. (NASDAQ : AERO )
("AeroGrow" or the "Company"), makers of the AeroGarden® line of indoor
gardening products, announced that it has entered into an agreement with
Korea Fujifilm Co., Ltd. ("KFF"), headquartered in Seoul, South Korea,
granting KFF exclusive rights to market and distribute the current
AeroGarden product line in South Korea. KFF plans to launch the AeroGarden
line through television home shopping and a variety of retail outlets, as
well as launching web marketing and public relations initiatives.
Korea Fujifilm Co., Ltd. was established in April 1975 and joined the Lotte
Group, a $36 billion dollar consumer products and construction
conglomerate, in 1980. KFF has retail distribution throughout South Korea
in the consumer products industry, including established relationships with
South Korea's growing home television shopping channels. KFF's sales
exceeded $178 million dollars in 2005. The Lotte Group has been vigorously
building a global organization with more than 50 group companies in
domestic and overseas markets.
"With a population of 50 million people, a rapidly growing consumer
economy, significant portions of the population living in high-rise
apartments, an inherent cultural love of flowers and a growing focus on
healthy lifestyles, we believe South Korea represents an excellent market
for the AeroGarden product line," said Jerry Perkins, AeroGrow's President
and COO. "We explored multiple opportunities in this important market and
believe KFF demonstrated not only the passion and understanding of the
product needed for a successful launch, but also has the tools already in
place to manage a rapid, multichannel launch."
About AeroGrow International, Inc.
Founded in 2002 in Boulder, Colorado, AeroGrow International, Inc. is
dedicated to the research, development and marketing of the AeroGarden®
line of indoor gardening products. AeroGardens feature NASA-proven,
dirt-free aeroponic technology, allowing anyone to grow farmer's market
fresh herbs, salad greens, tomatoes, chili peppers, flowers and more,
indoors, year-round, so simply and easily that no green thumb is required.
See www.aerogrow.com.
FORWARD-LOOKING STATEMENTS
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: Statements by Michael Bissonnette, Jerry Perkins, and/or the
Company, statements regarding growth of the AeroGarden product line,
optimism related to the business, expanding sales and other statements in
this press release are forward-looking statements within the meaning of the
Securities Litigation Reform Act of 1995. Such statements are based on
current expectations, estimates and projections about the Company's
business. Words such as expects, anticipates, intends, plans, believes,
sees, estimates and variations of such words and similar expressions are
intended to identify such forward-looking statements. These statements are
not guarantees of future performance and involve certain risks and
uncertainties that are difficult to predict. Actual results could vary
materially from the description contained herein due to many factors
including continued market acceptance of the Company's products or the need
to raise additional capital. In addition, actual results could vary
materially based on changes or slower growth in the kitchen garden
appliance market; the potential inability to realize expected benefits and
synergies; domestic and international business and economic conditions;
changes in customer demand or ordering patterns; changes in the competitive
environment including pricing pressures or technological changes;
technological advances; shortages of manufacturing capacity; future
production variables impacting excess inventory and other risk factors
listed from time to time in the Company's Securities and Exchange
Commission (SEC) filings under "risk factors" and elsewhere. The
forward-looking statements contained in this press release speak only as of
the date on which they are made, and the Company does not undertake any
obligation to update any forward-looking statement to reflect events or
circumstances after the date of this press release.