WR Hambrecht + Co: Press Releases:November 8, 1999

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Press Releases

Press Release: November 8, 1999

WR Hambrecht + Co Initiates Coverage of 1-800-Flowers.com

Brand leader is well positioned to dominate online gifting

San Francisco, CA, November 8, 1999—WR Hambrecht + Co, the online investment bank, today announced that it is initiating research coverage of 1-800-FLOWERS.com (Nasdaq: FLWS). The 1-800-FLOWERS.com research report can be accessed at www.wrhambrecht.com. WRH+Co Research does not use a traditional rating system, but rather provides information that enables investors to make informed investment decisions.

"1-800-FLOWERS.com is one of the most recognized brands in the floral industry," said WR Hambrecht + Co analyst Zoltan Deak. "By leveraging its brand across other product lines and capitalizing on the efficiencies of the Internet, we believe 1-800-FLOWERS.com should be able to build an online gifting powerhouse."

The report indicates that 1-800-FLOWERS.com will continue rapid expansion into new product lines as well as build on its current leadership position in flower sales. By leveraging its brand strength and providing excellent customer service, extensive product offerings, and a superior online shopping experience, 1-800-FLOWERS.com should continue to grow as the use of the Internet as a shopping channel increases.

With one of the most recognized brands in e-commerce, 1-800-FLOWERS.com provides fresh-cut flowers and other gifts to customers around the world via the Company’s Web site (www.1800flowers.com); AOL keyword: flowers and keyword: gardenworks; by calling 1-800-FLOWERS (1-800-356-9377) 24 hours a day; or by visiting one of the company operated or franchised stores.

In 1995, 1-800-FLOWERS.com launched a fully functional ecommerce Web site and currently maintains strategic online relationships with America Online, Microsoft Network, Snap.com and Excite, among others. The Company’s online product offerings include an extensive array of fresh-cut and seasonal flowers, plants, floral arrangements and gift baskets, gourmet foods, garden accessories, and casual lifestyle furnishings.