Dr. Johnny R. Thomas, Chairman and Chief Executive Officer, AgriBioTech, Inc. (ABT) (NASDAQ National Market: ABTX) announced today that the Company in conjunction with Garst Seed Company, a member of Advanta Seeds Group has agreed to purchase the alfalfa business unit of AgriPro Seeds, Inc. ("ABI"). AgriBioTech is purchasing the alfalfa business unit and the international sorghum business unit, while Garst is purchasing the business units relating to the sales of corn, soybeans, wheat, cotton, sunflowers and domestic sorghum. Closing of the acquisition is subject to negotiation of definitive agreements, Board of Directors, and regulatory approvals.

According to Dr. Thomas, "ABl's conventional alfalfa research program and germplasm is one of the leading alfalfa research programs in the world. Ownership of ABI and WL Research, Inc. will give ABT ownership of two of the four leading alfalfa breeding programs in the world. ABT will have the opportunity to dramatically accelerate alfalfa research by coordinating the two programs to eliminate redundant research., while adding exciting new product development projects. The combined world class germplasm of these two leading alfalfa research programs is expected to provide a platform of genetic excellence upon which biotechnology genetic improvements can be added."

ABT will continue to distribute alfalfa under the America Alfalfa's brand name through their strong franchise base. The purchase includes: research sites located at Napier, Iowa, Kingsburg, California. and Nampa, Idaho, production facilities located at Nampa, Idaho, distribution facilities at Princeton, Illinois and a premium germplasm base. The alfalfa business unit supplies dormant and non-dormant alfalfa seed to distributors throughout the United States, Canada, Mexico and Argentina. The program is the world's elite breeder of grazing alfalfa and breeder of the non-dormant variety, Salado, the only salt tolerant varietv marketed in the world. Garst will retain retail distribution rights for alfalfa under the ABI brand name in the United States.

Funding for the acquisitions will be coordinated with the process to maximize shareholder value, as previously announced (October 8, 1998). The Company is also negotiating changes in its credit facilities, as needed to facilitate continued growth. "ABT management is committed to building franchise value bv continuing to increase market share, increase germplasm ownership, recruit world class personnel and build a strong biotechnology program, " said Dr. Thomas

In North America, Garst is a recognized leader in the development and production of multi-trait (Garst G-STAC) corn hybrids as well as technology-enhanced soybean varieties, grain sorghum and alfalfa. With corporate and research headquarters in Slater, Iowa, Garst is a member of the Advanta Group of seed companies, which ranks as one of the top five seed companies globally. Garst is the largest member of the Advanta group of companies, which is a joint venture between a leading global life-sciences company, Zeneca, and Cosun, a major European food ingredient company.