Press Releases

The Andersons Ag Software, Inc., a wholly owned subsidiary of The Andersons, Inc. has entered a three-year licensing agreement with American Agrisurance, the crop insurance marketing subsidiary of Acceptance Insurance Companies Inc. . Under the terms of the agreement, participating American Agrisurance agents will be provided the opportunity to offer The Andersons' Crop Revenue Profiler™ software program as an additional marketing service to their clients.

The Crop Revenue Profiler software program is an analytical tool that was developed by The Andersons to help farmers make the increasingly complex decisions required to succeed in their business. The program provides a multi-page, detailed analysis of up to 209 different price/yield outcomes based on combinations of marketing plans and six different types of crop insurance. Farmers enter individual variables including number of acres, production history, cost of production and government subsidies to see a series of three-dimensional graphs showing how the varying prices and yields affect profitability.

"American Agrisurance has a proud tradition of providing breakthroughs that help farmers run a successful business, such as CRC™ and CRCPlus®," said Kim Gibson, president, American Agrisurance, Inc. "Farming is a complicated business, and we're pleased to add a great tool like The Crop Revenue Profiler to the consultative services our independent agents provide."

"The Crop Revenue Profiler software program is significant because it allows farmers to see the impact of a crop marketing decision before they make it," said Mike Anderson, president and chief executive officer of The Andersons, Inc. "The Andersons has a history of innovation in grain marketing and commitment to customer service, so we're very pleased to enter into a relationship with a company that shares our approach to doing business. Given its innovative history, we're not surprised that American Agrisurance recognizes the significance of The Crop Revenue Profiler and is making it available for AmAg agents to use for the benefit of their customers."

Anderson added, "We believe the income that this agreement with American Agrisurance will generate will have a positive impact on The Andersons' earnings in 2001 and beyond."

The Andersons Ag Software, Inc., was established this year to market The Crop Revenue Profiler software program. The Andersons, Inc. is a respected leader and prominent regional player in grain merchandising. Its strong position in this basic business has allowed the company to diversify into other agribusiness operations, railcar leasing, turf care product manufacturing and distribution, and general merchandise retailing. The company has been in operation since 1947. The Andersons, Inc. is located on the Internet at http://www.andersonsinc.com/ .

American Agrisurance, a widely recognized leader in the crop insurance industry, is a wholly owned subsidiary of Acceptance Insurance Companies Inc., an insurance holding company providing specialized crop, casualty and property insurance products throughout the United States. Visit American Agrisurance on the Web at http://www.amag.com/ .

This release contains forward-looking statements, including statements with respect to anticipated revenue growth and profitability. These statements involve risks and uncertainties that could cause actual results to differ materially, including with limitation, economic, weather and competitive conditions, risks associated with acquisitions and the risk factors set forth from time to time in the companies' filings with the Securities and Exchange Commission.

SOURCE: The Andersons, Inc.