We discuss recent results on the excitation spectra of B and D-mesons obtai
ned in the framework of non-relativistic lattice QCD in the quenched approx
imation. The results allow for the determination of the (MS) over bar -mass
of m(b),((MS) over bar)(m(b),((MS) over bar)) = 4.34(7) GeV in O(alpha (3)
(s)) in the perturbative matching. The determination of the decay constants
f(Bs) and f(Ds) is discussed in detail. Results for the matrix elements of
semi-leptonic B to D decays are shown.