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The Andersons Considers Albion, Michigan, Site for Ethanol Production Facility

The Andersons Inc. today announced that it is considering its Albion, Michigan, grain facility as a possible location for the construction of an ethanol production facility. The 77-acre site, located in rural Sheridan Township in Calhoun County, is one of several locations currently under consideration for a 50 million gallon-per-year production facility. The Andersons' project team is working closely with township officials, and with federal, state and local agencies to determine the Albion site's suitability. The company expects to announce its decision in 2005.

According to Mike Anderson, President and CEO of The Andersons, corn-based fuel ethanol is the fastest growing demand segment for domestic corn. "The demand for ethanol is expected to increase from the 2002 level of 1.8 billion gallons to five billion gallons by 2012. That type of growth would have a positive impact on area corn producers and the local economy," said Anderson. In addition to creating new jobs, the construction project is expected to bring significant dollars into the community where it is located.

About The Andersons, Inc.

The Andersons, Inc. is a diversified company with interests in the grain and plant nutrient sectors of U.S. agriculture, as well as in railcar marketing, industrial materials formulation, turf products production, and general merchandise retailing. Founded in Maumee, Ohio, in 1947, the company presently has operations in six U.S. states plus rail equipment leasing interests in Canada and Mexico. Total revenues in 2004 were $1.3 billion.

SOURCE: The Andersons, Inc.

CONTACT: Gary Smith, Vice President, Finance and Treasury,
+1-419-891-6417, or Neill McKinstray, Director, Ethanol Services,
+1-419-891-6570, both of The Andersons, Inc.