The Andersons, Inc. Announces Pricing of Common Stock

PRNewswire-FirstCall
MAUMEE, Ohio
Aug 22, 2006

The Andersons, Inc. (the "Company") today announced pricing of its previously announced offering of 2,250,000 shares of its common stock, of which 2,000,000 shares will be sold by the Company and 250,000 shares will be sold by certain selling shareholders. The offering price is $37.00 per share. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 337,500 shares of common stock to cover over-allotments, if any. BB&T Capital Markets and Piper Jaffray & Co. are joint book-running managers for the offering. Stephens Inc. and Stifel, Nicolaus & Company are serving as co-managers.

A registration statement relating to the common stock has been filed with and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the common stock 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 offering of these securities will be made only by means of a prospectus. A copy of the final prospectus may be obtained by contacting: BB&T Capital Markets, Attention: Syndicate, 909 E. Main Street, Richmond, VA 23219, Telephone (804) 780-3283; or by contacting Piper Jaffray & Co., Attention: Equity Capital Markets, 800 Nicollet Mall, Minneapolis, MN 55402, Telephone (877) 371-5212.

About The Andersons, Inc.

The Andersons, Inc. is a diversified company with interests in the grain & ethanol and plant nutrient sectors of U.S. agriculture, as well as in railcar leasing, industrial products formulation, turf products production, and general merchandise retailing. Founded in Maumee, Ohio, in 1947, the company now has operations in seven U.S. states plus rail equipment leasing interests in Canada and Mexico. The Andersons, Inc. is located on the Internet at www.andersonsinc.com.

This release contains forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially. Without limitation, these risks include the risk that the offering discussed herein may not occur, economic, weather and regulatory conditions, competition, and the risk factors set forth from time to time in the Company's filings with the Securities and Exchange Commission, including the registration statement relating to the offering. Although the Company believes that the assumptions upon which the information contained herein and the related forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct.

SOURCE: The Andersons, Inc.

CONTACT: Gary L. Smith, VP, Finance and Treasurer of The Andersons,
Inc., +1-419-891-6417


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Grain
Plant Nutrient
Ethanol
Rail