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The Andersons, Inc. Announces Increased Fourth Quarter Cash Dividend

The Andersons, Inc. today announced a cash dividend of 8 cents per share, payable October 21, 2004, to shareholders of record on October 1, 2004. This dividend represents a 6.7% increase over the quarterly dividends paid in the first three quarters of 2004 and is the second increase for 2004.

This is The Andersons' 32nd consecutive quarterly cash dividend since its listing on Nasdaq on February 20, 1996. There are approximately 7.3 million common shares outstanding.

The Andersons, Inc. is a regional grain merchandiser with diversified businesses in agriculture, the formulation and distribution of agricultural plant nutrients and industrial materials, railcar marketing, turf products production and general merchandise retailing that generate revenues of approximately $1.2 billion per year. Founded in 1947, the company operates grain and production facilities throughout the Midwest and six retail stores 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