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The Andersons Announces Organizational Changes in Agriculture Group

In keeping with the company's plan for improving its performance in agriculture, The Andersons, Inc. today announced a reorganization of its Agriculture Group.

The Agriculture Group consists of the Grain, Wholesale Fertilizer and Farm Center Divisions. Joe Braker, president of the Agriculture Group, is leaving the company to pursue other interests. The position will not be filled. Under the new organization, Division Vice Presidents Hal Reed, Grain, Denny Addis, Wholesale Fertilizer, and Martin Rossol, Farm Centers, will report directly to Mike Anderson, president and chief executive officer.

"The Agriculture Group has been and continues to be the foundation and cornerstone of our company and it is clearly vital to our future," said Anderson. Anderson pointed out that the new structure will streamline reporting relationships and place him in closer touch with Agriculture Group operations.

"Joe Braker has been an enormous asset to The Andersons for many years," Anderson said. "We thank him for his many contributions to our success."

Anderson added that the three division vice presidents are experienced managers who have overseen substantial growth in their segments of the business. "I'm looking forward to working directly with them to strengthen our Ag business, which represents 45 percent of our investment in fixed assets and working capital."

Hal Reed joined the company in January 1980, as senior auditor in the financial services area. He moved to the Agriculture Group one year later and served in a variety of positions. He became division vice president and general manager of the Grain Division in October 1998.

Dennis Addis came to The Andersons in November 1971, in the former Plant Food Division. He worked his way up through a series of jobs in Ag operations, moving into management as supply and distribution manager for Ag fertilizer. In September 1996, he was promoted to general manager of the Wholesale Fertilizer Division. He was named division vice president and general manager two years later.

Martin Rossol started at The Andersons in March 1984, as a grain buyer in Maumee. He advanced to central hedger before being appointed farmer services manager in Maumee in 1988. A year later he was named manager of the Dunkirk Grain facility, returning to Maumee in April 1998, as general manager of the Farm Center Division. He became the division vice president and general manager in October 1998.

The Andersons, Inc. is a respected leader and dominant regional player in the grain industry. This strong position in its basic business has allowed the company to diversify into other agribusiness operations, several processing and manufacturing businesses and general merchandise retailing. The company has been in operation since 1947.

For further information regarding The Andersons free of charge via fax dial 1-800-PRO-INFO and enter company code "ANDE."

SOURCE: The Andersons, Inc.

Contact: Gary Smith of The Andersons, Inc., 419-891-6417; or Marilyn
Windsor, 312-640-6692 or Lisa Fortuna, 312-640-6779 both of The Financial
Relations Board-BSMG