Press Releases

Dr. Johnny R. Thomas, CEO of AgriBioTech, Inc. (NASDAQ National Market: ABTX), announced today that the Company has completed the acquisitions of Geo. W. Hill & Co., Inc. ("Hill Kentucky"), Geo. W. Hill of Indiana, Inc. ("Hill Indiana"), and Fine Lawn Research Inc. ("Fine Lawn") with combined annual revenues of approximately $25 million. AgriBioTech purchased all three companies for approximately $11 million in cash and 10,000 shares of AgriBioTech Conunon Stock with an aggregate value of $248,000 based on prices at the time terms were agreed to.

Hill Kentucky and Hill Indiana specializes in turfgrass distribution in the Mid-West. They also sell fertilizer and chemicals to golf courses and other turf professionals. The four key owners have signed employment agreements with AgriBioTech. The Company's acquisition of Hill Kentucky and Hill Indiana will significantly strengthen AgriBioTech's midwest distribution base.

Fine Lawn is a leading production company managing significant acres of proprietary turf seed production in Oregon. Fine Lawn also owns several proprietary turf varieties that exhibit outstanding performance. This acquisition will complement AgriBioTech's existing germplasm base.

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-eight 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 $425 million, including the previously announced pending acquisitions of Willamette Seed Company, J&M Seed Company, and Oseco, Inc.

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