Press Releases

During the Annual Meeting of Shareholders for The Andersons, Inc. today, Chairman Dick Anderson officially left his post, passing the Chairmanship to President and CEO Mike Anderson.

(Logo: http://www.newscom.com/cgi-bin/prnh/20081104/CLTU081LOGO)

Dick Anderson served with the company since 1947 when he, along with his siblings and parents, founded the company as a family partnership. Starting as a crew boss on construction of the first grain elevator in Maumee, Ohio, Mr. Anderson worked his way up through the company and was named President and Chief Executive Officer in 1986. He was instrumental in the company's transition from a family-owned business to a publicly traded enterprise in 1996. He has served as Chairman of the Board since 1999, and now will provide counsel to the Board as Chairman Emeritus.

"It has been an honor and a privilege to work alongside Dick for more than a decade," said Chairman, President and CEO Mike Anderson. "He has been a tremendous teacher to the generations of employees who have worked here for the past 62 years. His contributions to this company have helped shape it into what it is today, and for that we thank him."

Mr. Anderson chose last fall not to stand for re-election to the Board. At that time, the Board approved Mike Anderson to succeed him as Chairman.

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 12 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: debra_crow@andersonsinc.com

SOURCE: The Andersons, Inc.