The Andersons, Inc. Announces Increased Cash Dividend

Dec 15, 2003

The Andersons, Inc. today announced a cash dividend of 7-1/2 cents per share, payable January 22, 2004, to shareholders of record on January 2, 2004. This dividend represents a 7% increase over the quarterly dividends paid in 2003.

This is The Andersons' 29th consecutive quarterly cash dividend since its listing on the Nasdaq on February 20, 1996. There are approximately 7.2 million common shares outstanding.

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.

The Andersons, Inc. is located on the Internet at .

SOURCE: The Andersons, Inc.

CONTACT: Gary Smith of The Andersons, Inc., +1-419-891-6417

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