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The Andersons, Inc. Announces Cash Dividend

The Andersons, Inc. today announced a cash dividend of 7-1/2 cents per share, payable July 22, 2004, to shareholders of record on July 1, 2004.

This is The Andersons' 31st consecutive quarterly cash dividend since its listing on the Nasdaq on February 20, 1996. There are approximately 7.3 million common shares outstanding.

The Andersons, Inc. also reports that its shareholders voted in all directors standing for re-election to the Board of Directors and that the Board has appointed Donald L. Mennel to chair the Audit Committee.

Mr. Mennel, who has served on The Andersons, Inc. Board of Directors since 1997 and on the Audit Committee for the past six years, is president and treasurer of the Mennel Milling Company in Fostoria, Ohio. "We are pleased to have Don Mennel in this key position," said Dick Anderson, chairman of the Board. "His business expertise is a real asset for the company." Mr. Mennel replaces David L. Nichols who steps down after chairing the Audit Committee for the past six years. Mr. Nichols will remain on the committee.

The Andersons, Inc. is a regional grain merchandiser with diversified businesses in agriculture, plant nutrient formulation and distribution, turf product production, railcar marketing and general merchandise retailing that generate revenues of approximately $1.2 billion per year. Founded in 1947, the company maintains grain and production facilities throughout the Midwest and six retail locations in northern and central Ohio. The Andersons' corporate headquarters is located in Maumee, Ohio.

The Andersons, Inc. is located on the Internet at .

SOURCE: The Andersons, Inc.

CONTACT: Gary Smith, Vice President Finance & Treasurer of The Andersons,
Inc., +1-419-891-6417