AgriBioTech, Inc. ("ABT") (NASDAQ National Market: ABTX) announced today at an analysts conference in New York, NY that it expects to report profitable First Quarter Fiscal 1999 results, albeit lower than analysts' consensus estimates of approximately $.04 per share. The Company also announced at the conference that it expects to report a more than twofold increase in net sales from the comparable period last year. The Company will report lower than consensus estimate profits due primarily to higher production costs associated with an industry-wide shortfall in non-dormant alfalfas and higher interest expenses.

The Company also informed analysts that it is moving ahead aggressively on integrating its acquired companies. Given this, the Company told analysts that it expects to record a non-recurring charge of approximately $5 to $15 million for Fiscal Year 1999. As a result of this anticipated charge against earnings, the Company expects to report a loss for Fiscal Year 1999 as it structures itself for the future.

In response to analyst questions regarding the Company's October 8, 1998 announcement concerning exploration of strategic alternatives to maximize shareholder value, Dr. Johnny Thomas, CEO, said the Company is exploring all alternatives, including the option of a strategic equity partner or fund willing to acquire at least a 20% interest in the Company. Thomas said ABT is and will aggressively review the strategic options open to the Company.