Press Release: March 22, 2000

WR Hambrecht + Co Initiates Coverage of Garden.com (GDEN) with a Buy Rating

Company pioneers online gardening industry

San Francisco, CA, March 22, 2000—WR Hambrecht + Co today initiated research coverage on Garden.com. (GDEN) with a buy rating. WR Hambrecht + Co’s eTailing/Consumer Brands analyst Kristine Koerber cited Garden.com’s market dominance, strong brand equity and favorable customer demographics as key reasons for the rating. WR Hambrecht + Co offers all its research reports free and real-time at www.wrhambrecht.com.

"We believe Garden.com’s shares are inexpensive at current levels and see this as a good entry point for investors given recent sector weakness. Garden.com has attractive and improving metrics, solid management team, defined niche, significant market opportunity and has established itself as the leader of online gardening content and merchandise," Koerber said.

Koerber projects Garden.com’s calendar revenues will reach $22.4 million in 2000 and $57.7 million in 2001, up from the 1999 total of $8.8 million.

Garden.com is the largest online retailer of gardening and gardening-related merchandise. The Company has developed relationships with over 60 suppliers providing customers with a vast selection of gardening products and a one-stop shopping environment.