The Andersons'-Led Project Receives Grants from State of Ohio

PRNewswire-FirstCall
MAUMEE, Ohio
Jul 1, 2008

The Andersons, Inc. announces a collaborative team it is leading has been recommended to receive $5 million in grants from the Ohio Third Frontier Commission. The grants are for the development and commercialization of advanced granules and other emerging technologies to provide solutions for the economic, health, and environmental concerns of today's agricultural industry.

The collaborative team consists of:

-- The Andersons, Inc., Maumee, Ohio, a 60-year-old diversified agribusiness that currently markets proprietary and patented dispersible granular technology for the turf industry through its Turf & Specialty Group.

-- The Ohio Agricultural Research and Development Center (OARDC), the nation's largest Ag-biosciences Center

-- Syngenta Crop Protection, Inc., a world-leading agribusiness company committed to sustainable agriculture through innovative research and technology. A global leader in crop protection, investing in Advanced Granules for global consumption

-- PSB Company, a division of White Castle System, Inc., Columbus, Ohio, a leading manufacturer of granule applicators, established in 1934, headquartered in Columbus, Ohio.

-- National Lime and Stone Company, Findlay, Ohio, a leading limestone supplier and granulator of advanced soil-dispersing granules.

-- Ohio Bio-products Innovation Center (OBIC), a Third Frontier Wright Center of Innovation group to foster industry and academic collaboration.

"Our granular technology is well received within the professional turf markets and generates a revenue stream for our Turf & Specialty Group," said CEO Mike Anderson. "This grant will enable us to accelerate our research in extending this proprietary technology to agriculture applications that we believe will provide benefits on a global scale. We are proud to be a leader in this project."

Lieutenant Governor Lee Fisher, Chair of the Ohio Third Frontier Commission, announced June 26 that the Commission recommended the grants for the development of advanced granules that effectively deliver fertilizers and pesticides or biologically active ingredients to specifically targeted areas, activating once exposed to water which reduces environmental risks, with virtually no drift problem.

"This is a significant award for all Ohioans, as this investment will create new jobs and needed economic growth," said Bobby Moser, vice president for Agricultural Administration and University Outreach and executive dean of the College of Food, Agricultural and Environmental Sciences at The Ohio State University. "We are honored to have the opportunity to collaborate with The Andersons and assist in the development and adaptation of the advanced granular technology in much larger agricultural markets (such as nursery/greenhouse, fruits/vegetables, and row crops) in both the U.S. and around the world."

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 and repair, turf products production, and general merchandise retailing. Founded in Maumee, Ohio, in 1947, the company now has operations in 10 U.S. states and Puerto Rico, plus rail equipment leasing interests in Canada and Mexico. For more information, visit The Andersons online at www.andersonsinc.com .

First Call Analyst:
FCMN Contact:

SOURCE: The Andersons, Inc.

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


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