Dr. Johnny R. Thomas, CEO of AgriBioTech, Inc., announced today that the Company has completed the acquisition of Oseco Inc., Ontario, Canada, including all its seed and seed coating operations, Canadian Seed Coaters, North Battleford, Saskatchewan and Precision Seed Coaters Inc., Yuma, Arizona (collectively "Oseco") with annual revenues of approximately $10.8 million which will be consolidated into the Company's operations as of closing. AgriBioTech purchased Oseco for approximately $4.3 million, with $2.9 million paid in cash and the balance paid with 1 00,000 shares of AgriBioTech common stock. All of the Company's previously announced pending acquisitions are now completed. The Company is continuing negotiations for additional acquisitions.

Oseco distributes forage (approx. 46%) and turfgrass seeds (approx: 34%) in Canada and for export and markets seed coating services and products (approx: 20%) in Canada and the United States. Oseco will give AgriBioTech direct access to Canadian production of certain forage and turfgrass species. Gabe Eros, owner, Paul Eros, National Sales Manager and Trevor Bailie, General Manager of Canadian Seed Coaters, are continuing as employees of AgriBioTech. The acquisition of Oseco will broaden AgriBioTech's production and distribution base into Canada. It will expand AgriBioTech's seed coating business efforts, previously acquired through its 50 percent interest in Seedbiotics, Inc. and its acquisition of Peterson Seed Company, Inc.