The Andersons, Inc. Announces Cash Dividend

PRNewswire-FirstCall
MAUMEE, Ohio
May 15, 2003

The Andersons, Inc. today announced a cash dividend of $0.07 per share, payable July 22, 2003, to shareholders of record on July 1, 2003. This is The Andersons' 27th consecutive quarterly cash dividend since its listing on Nasdaq on February 20, 1996. There are approximately 7.2 million common shares outstanding.

The Company further announces that The Andersons, Inc. stock is now offered through a direct stock purchase program called Computershare BYDS(SM) that is sponsored and administered by Computershare Trust Company, Inc. One of the features of the plan is dividend reinvestment. The Andersons, Inc. will pay for the annual maintenance of accounts and for the reinvestment of dividends.

This press release is not an offer to sell or the solicitation of an offer to buy the Andersons common stock. We will not sell any of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.

The Andersons, Inc., is a regional grain merchandiser with diversified businesses in agriculture, plant nutrient formulation and distribution, turf product production, railcar marketing and general merchandise retailing that generate revenues of approximately $1.1 billion per year. Founded in 1947, the company maintains grain and production facilities throughout the Midwest and six retail locations in northern and central Ohio. The Andersons' corporate headquarters is located in Maumee, Ohio. Additional information is available online at www.andersonsinc.com .

SOURCE: The Andersons, Inc.

CONTACT: Gary Smith, VP Finance & Treasurer of The Andersons, Inc.,
+1-419-891-6417, or E-mail, gary_smith@andersonsinc.com


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