Press Releases

Dr. Johnny R. Thomas, CEO of AgriBioTech, Inc. (NASDAQ National Market: ABTX), announced third quarter Fiscal 1998 (January 1st-March 31st 1998) net sales of $75.9 million, as compared with $20.2 million for the comparable period in Fiscal 1997, an increase of 276%, with net earnings of $4,926,114 as compared with net earnings  of $1,285,044 in the comparable period in Fiscal 1997. Net earnings attributable to common stock was $4,899,396 with net earnings per common share of $0.15 basic and $0.13 diluted in the third quarter of Fiscal 1998 as compared to net earnings attributable to common stock of $1,059,685 with net earnings per common share of $0.06 basic and diluted in the comparable period in Fiscal 1997. For the nine-month period ended March 31, 1998, net sales were $139.7 million as compared to $41.2 million for the comparable period in 1997, an increase of 239%. Net earnings attributable to common stock were $4,237,480 with net earnings per common share of $0.15 basic and $0.13 diluted for the nine-month 1998 period versus a net loss of $4,391,971 with net loss per common share of $0.33 basic and diluted for the nine-month 1997 period. Assets and total stockholders' equity were increased significantly to $259.9 million and $150.9 million, respectively, increases of 370% and 478% as compared to March 31, 1997. These results of operations include the 23 completed acquisitions only from their respective effective dates through the end of each period and do not include the 7 acquisitions which are pending.

According to Dr. Thomas, "the large increase in net sales, assets and equity, and the modest profits are a direct result of management accelerating growth beyond original growth targets". The Company had annualized net sales of approximately $425 million on March 31, 1998, as compared to annualized net sales of approximately $65 million on March 31, 1997 (including pending acquisitions with effective dates after March 31 of the respective years). Profitability in 1998 periods was favorably impacted by an income tax benefit of $2.9 million and the increased sales from acquired companies, but negatively affected by an increase in interest expense due to debt incurred in connection with accelerated growth, adverse weather, declines in foreign sales, the previously announced delay in closing Willamette Seed Company, and a significant increase in administrative personnel to accommodate the accelerated growth.

Dr. Thomas also stated "we believe the acquisition of DeKalb (DKB) and Delta Pine and Land (DLP) by Monsanto (MTC) this week for attractive revenue multiples of over 7:1 (market cap:revenue) validates management strategy to focus on building  franchise value". Consequently, management will continue to increase its leading market share in the forage and turfgrass seed sectors through rapid growth, build the Company's germplasm base, increase research and continue to build an exceptional value added, professional operations management team. "Mr. Kent Schulze, COO and President will continue to prudently implement changes and synergies by building teams from all partner companies, to maximize long term, franchise value," said Dr. Thomas.

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 twenty-three acquisitions since January 1, 1995 and is the largest forage and cool
season turfgrass seed company in the United States, with annualized net sales of approximately $425 million, including the
previously announced pending acquisitions of Willamette Seed Company, Peterson Seed Company, Inc., Geo. W. Hill & Co.,
Inc., Fine Lawn Research, Inc., Geo. W. Hill of Indiana, Inc., J&M Seed Company, and Oseco, Inc.

The statements discussed in this press release include forward looking statements that involve a number of risks and
uncertainties. These include the Company's historical lack of profitability, need to manage its growth, intense competition in the
seed industry, seasonality of quarterly results, and other risks detailed from time to time in the Company's SEC reports.

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

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