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The Andersons, Inc. Again Raises Full-Year Earnings Guidance
Grain and Rail Businesses Continue to Drive Improvement

The Andersons, Inc. , today revised its full-year earnings projection upward to a range of $2.20 to $2.40 per diluted share. Previously, the company had projected its full-year earnings to be in the range of $1.80 to $2.05 per diluted share. Last year the company earned $1.59 per diluted share.

According to President and Chief Executive Officer Mike Anderson, "Our earnings projection for the year continues to increase due to improving conditions in our grain and rail businesses. The record-setting corn and soybean harvest has pushed grain bushel volume and earnings on our storage space above earlier projections. Demand for railcars continues to be strong driven by the improving economy and demand for commodities worldwide. Thanks to the rail assets we acquired earlier this year, our Rail business is well- positioned to meet that growing demand."

The company plans to announce its fourth-quarter earnings on Tuesday, February 9, 2005.

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 seven U.S. states plus rail equipment leasing interests in Canada and Mexico. Total revenues in 2003 exceeded $1.2 billion.

This release contains forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially. Without limitation, these risks include economic, weather and regulatory conditions, competition, and the risk factors set forth from time to time in the company's filings with the Securities and Exchange Commission.

SOURCE: The Andersons, Inc.

CONTACT: Gary Smith of The Andersons, Inc., +1-419-891-6417