Press Releases

The Andersons, Inc. , today revised its full-year earnings projection upward to a range of $1.80 to $2.05 per diluted share. This 8 to 9 percent increase marks the second time the company has raised its projection of 2004 earnings. 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 has continued to increase primarily because of improving conditions in our grain and rail businesses. Year-to-year growth in grain bushel volume has exceeded our earlier projections, as have average margins and earnings on our storage space. Rail has continued to benefit from improvements in car values and lease rates fueled by strong market demand. In addition, the large acquisition we made earlier this year is performing even better than we had anticipated. Recently we closed the Atlanta offices of the acquired business and have consolidated its administrative functions into our Maumee organization."

The company will announce its third quarter earnings on Wednesday, November 3, 2004.

The Andersons, Inc. is a regional grain merchandiser with diversified businesses in agriculture, plant nutrient and industrial formulation and marketing, 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 company's headquarters are located in Maumee, Ohio.

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.

The Andersons, Inc. is located on the Internet at http://www.andersonsinc.com/

SOURCE: The Andersons, Inc.