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The Andersons, Inc. Announces Third Quarter Cash Dividend, New Board Member

The Andersons, Inc. today announced a 10 percent increase in the third quarter 2008 cash dividend to 8.5 cents ($0.085) payable July 22, 2008, to shareholders of record on July 1, 2008.

This is The Andersons' 47th consecutive quarterly cash dividend since its listing on the Nasdaq on February 20, 1996. There are approximately 18.1 million common shares outstanding.

In addition, Ross W. Manire was elected to the Board of Directors during the company's annual meeting. Mr. Manire replaces John F. Barrett, a 16-year Board member who has chosen not to stand for re-election. Mr. Manire currently serves as the Chairman and CEO of ExteNet Systems, Inc., Chicago, a wireless telecommunications company he founded in 2003.

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, visit The Andersons online at .

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SOURCE: The Andersons, Inc.

CONTACT: Gary L. Smith, VP, Finance & Treasurer of The Andersons, Inc.,