Press Releases

Dr. Johnny R. Thomas, CEO of AgriBioTech, Inc. (NASDAQ National Market: ABTX), announced today that the Company has completed the previously announced acquisitions of Zajac Performance Seeds, Inc. and its Oregon affiliate ("Zajac"), Kinder Seed, Inc. ("Kinder"), Van Dyke Seed Co., Inc. ("Van Dyke"), and Ohio Seed Company ("Ohio Seed"). The four companies have annualized sales of approximately $30 million. AgriBioTech paid $11.6 million in cash and 1,053,000 shares of Common Stock valued at an aggregate of $11.1 million at the time terms were agreed to.

The Company has now completed five of the seven previously announced pending acquisitions which must be completed prior to reporting third quarter earnings numbers.The two other acquisitions are expected to be closed within two weeks as scheduled to allow timely reporting of third quarter (fiscal 98) results.

Dr. Thomas stated that "Zajac is an excellent turfgrass company which specializes in providing proprietary turfgrass varieties to independent wholesale distributors under private label, similar to the way AgriBioTech's subsidiary, WL Research, Inc., provides wholesale distribution of alfalfa varieties. Kinder is a forage and turfgrass distribution company located in the Northeastern United States. Van Dyke is a production company with a wholesale distribution base of a number of forage crops, such as red clover and crimson clover. Ohio Seed is a distribution company with approximately 60% turfgrass seed and 40% forage seed, with sales primarily in Ohio and Michigan."

AgriBioTech is a fully integrated full service seed company specializing in the forage and turfgrass seed sector, complete with research and development of proprietary seed varieties, seed processing plants, and a national and international distribution and sales network. The Company has completed 22 acquisitions since January 1, 1995 and is the largest forage and cool season turfgrass seed company in the United States, with a current level of annualized net sales of approximately $409 million, including six previously announced pending acquisitions with annual sales of approximately $93 million.

Contact:
John C. Francis, Vice President
(702) 566 2440

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