| Contact: |
Ira
Lamel/Mary Anthes |
Jeremy Fielding/David Lilly |
| |
The Hain Celestial Group, Inc. |
Kekst
and Company |
| |
631-730-2200 |
212-521-4800
|
THE
HAIN CELESTIAL GROUP
ISSUES
UPDATE ON ITS STOCK OPTIONS REVIEW
Melville,
NY, September 11, 2007—The
Hain
Celestial Group, Inc. (NASDAQ: HAIN), a leading natural and organic food and
personal care products company, today issued an update on its stock options
review. As previously disclosed on August 29, 2007, The Hain Celestial Group,
Inc. is conducting an independent review of the Company’s stock option
practices. This review is being conducted at the direction of a group of
independent directors with the assistance of independent legal counsel and
experts retained by counsel and is substantially complete. However, the timing
of that completion has resulted in a delay in finalizing the Company’s annual
report on Form 10-K. The Company is working diligently through this process
and
intends to file its Form 10-K in the near future. The Company believes that
any
adjustments that have been identified in the review will not affect the
Company’s previously released results of operations for the year ended June 30,
2007. As a result of this delay, the Company anticipates receiving, as a
matter-of-course in accordance with the standard procedures of The NASDAQ Stock
Market, Inc., a notice of delisting from NASDAQ. The Company expects the notice
to be rescinded upon filing its Form 10-K and, in the interim, does not expect
the notice to affect the liquidity of the trading in the Company’s stock.
The
Hain Celestial Group
The
Hain
Celestial Group (NASDAQ: HAIN), headquartered in Melville, NY, is a leading
natural and organic food and personal care products company in North America
and
Europe. Hain Celestial participates in almost all natural food categories with
well-known brands that include Celestial Seasonings®, Terra Chips®, Garden of
Eatin’®, Health Valley®, WestSoy®, Earth’s Best®, Arrowhead Mills®, DeBoles®,
Hain Pure Foods®, FreeBird™, Plainville Farms™, Hollywood®, Spectrum Naturals®,
Spectrum Essentials®, Walnut Acres Organic™, Imagine Foods™, Rice Dream®, Soy
Dream®, Rosetto®, Ethnic Gourmet®, Yves Veggie Cuisine®, Linda McCartney®,
Realeat®, Lima®, Grains Noirs®, Natumi®, JASON®, Zia® Natural Skincare, Avalon
Organics®, Alba Botanica® and Queen Helene®. For more information, visit
www.hain-celestial.com.
Safe
Harbor Statement
This
press release contains forward-looking statements within and constitutes a
"Safe
Harbor" statement under the Private Securities Litigation Act of 1995. Except
for the historical information contained herein, the matters discussed in this
press release are forward-looking statements that involve known and unknown
risks and uncertainties, which could cause our actual results to differ
materially from those described in the forward-looking statements. These risks
include but are not limited to general economic and business conditions; the
ability to implement business and acquisition strategies and integrate
acquisitions; competition; retention of key personnel; the results of the stock
options review described above; compliance with government regulations,
including the rules on proxy solicitations when necessary or required, and
other
risks detailed from time-to-time in the Company's reports filed with the
Securities and Exchange Commission, including the annual report on Form 10-K
for
the fiscal year ended June 30, 2006.