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GROWMARK to restructure board of directors at upcoming annual meeting
Bloomington, Illinois
July 29, 2004

On Aug. 26, shareholders of GROWMARK, a regional agricultural cooperative based in Bloomington, Ill., will elect 16 directors to serve as its governing board. The election, to take place at the cooperative’s Annual Meeting at the Palmer House Hilton in Chicago, is unique because previously approved bylaw changes call for the reduction in the size of the Board of Directors from 24 to 16 this year.

Fifteen of the 16 director seats, established by geographic zone, are up for election. GROWMARK has six established governance zones which cover all of North America. There are multiple directors per zone, and they will serve staggered terms of one, two or three years. In addition, one director-at-large will represent Illinois, Iowa, and Wisconsin Farm Bureaus. GROWMARK is affiliated with Farm Bureau in those states.

The current GROWMARK Board of Directors includes the following active farmers:

Dan Kelley, Normal, Ill. - chairman of the board and president
John Reifsteck, Champaign, Ill. - vice chairman
Dick Walters, Woodstock, Ill. - vice chairman
Rick Nelson, Paxton, Ill. - secretary
Keith Bailey, Grinnell, Iowa
Larry Dynes, Kewanee, Ill.
Scott Durbin, Owaneco, Ill.
Chet Esther, Jr., Frederick, Ill.
Larry Gonseth, Murray, Iowa
Bill Hanson, Dodgeville, Wis.
Mike Hennenfent, Gilson, Ill.
Craig Hill, Milo, Iowa*
Jim Holte, Eau Claire, Wis.*
John Keunen, Drayton, Ont.
Gary Leber, Valmeyer, Ill.
Len Mortson, Oro Station, Ont.
Randy Newcomb, Ashley, Ill.
Bob Phelps, Rockton, Ill.*
William Raben, Ridgway, Ill.
Steve Riskedal, Leland, Ill.
John Rosenbohm,  Hanna City, Ill.
Bill Sahs, Lincoln, Ill.
Ray Steffens, West Union, Iowa
David Watt, Murrayville, Ill.
*Farm Bureau Interlocking Director

Incumbents Keunen, Gonseth, and Walters have announced their intent to retire from the Board of Directors and will not seek re-election.

“This board restructuring is part of an overall governance modification plan GROWMARK embarked on four years ago,” says Dan Kelley, chairman of the board and president from Normal, Ill. “Our governance zones represent our business base and provide for geographic expansion in the future.”

Nearly 1,200 GROWMARK employees, member cooperative directors and staff, and guests will gather for the meeting. The theme for this year’s meeting is “Wings of Success.”

Local cooperatives will be honored as Performance Improvement Award winners and top grain shippers. GROWMARK will also thank retiring member cooperative general managers and GROWMARK employees. Young people representing FFA and Ontario youth organizations will address the assembly concerning future innovations in agriculture.

Bill Davisson, chief executive officer, will deliver the CEO Address, and Chairman of the Board and President Dan Kelley will present his address at the end of the meeting.

GROWMARK is a regional agricultural cooperative with more than 300 local cooperative members and subsidiary operations spanning 14 states and Ontario, Canada. Some 200,000 farmers are served with quality products and services through the locally owned and globally strong GROWMARK System.

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