The Andersons, Inc. Sells Two Farm Centers to Archbold Agri-Services

PRNewswire-FirstCall
MAUMEE, Ohio
Jul 20, 2004

The Andersons, Inc. announced today it has reached an agreement to sell its Lyons, OH and Munson, MI Farm Centers to Archbold Agri-Services. Under the new ownership, the facilities will continue to provide agricultural services and products to growers in southeast Michigan and northwest Ohio. The sale does not affect The Andersons' grain operations in Lyons. Although terms of the sale were not disclosed, the arrangement included a multi-year supply agreement with the Agriculture Group's Plant Nutrient Division.

Denny Addis, Plant Nutrient Division President, stated, "Although the division is primarily a wholesale marketer of agricultural nutrient inputs and industrial products, it maintains ownership of seven retail farm centers. The division remains committed to maintaining and strengthening its position in the agricultural retail business. In addition to generating a positive contribution the farm centers provide beneficial insights for the wholesale business into the retail channel. The farm centers also serve many of the same grower customers as the Agriculture Group's Grain Division."

About Archbold Agri-Services

Archbold Agri-Services is a privately held company with headquarters in Archbold, Ohio. In addition to the newly acquired Lyons and Munson Farm Centers, it also operates three Northwest Ohio facilities located in Archbold, West Unity and Pulaski.

About The Andersons, Inc.

The Andersons, Inc. is a regional grain merchandiser with diversified businesses in agriculture, plant nutrient formulation and marketing, turf product production, railcar marketing and general merchandise retailing that generate revenues of approximately $1.2 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 http://www.andersonsinc.com/ .

SOURCE: The Andersons, Inc.

CONTACT: Gary Smith, Vice President, Finance and Treasurer,
+1-419-891-6417, or gary_smith@andersonsinc.com , or Denny Addis, President,
Plant Nutrient Division, +1-419-891-6300, or denny_addis@andersonsinc.com ,
both of The Andersons, Inc.


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