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The Andersons, Inc. Revises 2004 Full-Year Earnings Guidance Upward
December Grain Performance Driving Factor

The Andersons, Inc. , today revised its 2004 full-year earnings projection upward to a range of $2.50 to $2.60 per diluted share. In early December, the company had projected its full-year earnings to be in the range of $2.20 to $2.40 per diluted share. In 2003, 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 better-than- expected December grain division performance as well as overall improvement in the other business units. The record-setting corn and soybean harvest has pushed grain bushel volume and earnings on our storage space above our December projections."

The company plans to announce its pre-audit fourth-quarter earnings on Wednesday, February 9, 2005. The final, fully audited earnings for the year will be issued by the company with its 10K on or before March 15, 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