ABT will lease space at the University of Rhode Island's (URI) Kingston campus to launch its molecular biology and transformation laboratory. The decision to begin research at the URI campus was made to take advantage of synergies that are expected to benefit both parties. A major consideration in ABT's decision to integrate its programs at URI is the university's new Environmental Biotechnology Initiative that is designed to build capacity for environmental and agricultural biotechnology in the university and the state through enhanced research investment, academic programs and links to the business community.

Work at the ABT laboratory at URI will focus on forage and turfgrass seed species. "This is a very important step in the development of ABT's internal biotechnology capabilities," said Dr. Tom Rice, Vice President and Director of Research. "This, and the addition to our staff of Dr. Albert Kausch, a leading molecular biologist and plant transformation expert, means that we are making significant progress in our goal of building a dedicated forage and turfgrass biotechnology proram," added Rice.

Dr. Albert Kausch, formerly at a leading competitive biotechnology program, and most recently at the University of Connecticut, joins ABT. Dr. Kausch earned his advanced degrees in molecular, cellular and developmental biology at the Iowa State University, Ames, IA. He is the author of important published work in the areas of molecular biology and plant transformation. He is also the author or co-author of twelve patents in these areas.

Dr. Johnny Thomas. Chairman and CEO of ABT said the Company's new laboratory and the hiring of Dr. Kausch "Demonstrates that we are committed to leading the forage and turfgrass seed sector in the introduction of new., value added forage and turfgrass seed varieties and products, and that we will make the investment necessary to do so.

AgriBioTech is a fully integrated full service seed company specializing in the forage and turtgrass 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 33 acquisitions since January 1, 1995 and is the largest forage and cool-season turfgrass seed company in the world, with a current level of annualized net sales of approximately $475 million, after the previously announced divestiture of the chemical and fertilizer division of Willamette Seed Co., which has annualized net sales of approximately $20 million., and including the previously announced pending acquisitions of the alfalfa business and international sorghum units of AgriPro Seeds, Inc., Moore Seed Processors, and Production Plus+, which have annualized net sales aggregating approximately $35 million.