DirectAg.com, U.S. agriculture's premier e-commerce site, today announced the completion of a $19.5 million round of private financing led by Rural Press Limited, the world's largest agricultural publishing company. This round of private financing is the third completed by DirectAg.com and brings the total amount of capital raised to date to $34.6 million.

"Rural Press is the global leader in agricultural publishing,'' said Kip Pendleton, DirectAg.com
president, CEO and chairman of the board. "This investment validates and solidifies DirectAg.com's position in the ag marketplace, and enables us to bring new relationships and
products to our customers.''

Rural Press Limited is a major Australian media company with publishing, radio broadcasting,
outdoor advertising, commercial printing and online interests in Australia, New Zealand and the
United States.

"We have had the opportunity to watch DirectAg.com grow over the past 18 months, creating the
most comprehensive site in the ag e-commerce arena,'' said Brian McCarthy, CEO of Rural Press
Limited. "Their model is unique in its focus on building value into agriculture. This investment is a
natural extension of our presence in the U.S. ag community, complementing our traditional print
publications and other communications services from Farm Progress.''

"This round of funding, our largest to date, gives us the resources to further realize our vision of
integration through the agricultural distribution chain,'' said Pendleton. "We will use this funding to
pursue additional strategic alliances with leading agricultural manufacturers that can result in
increased product offerings, and to continue to expand our working relationships with local
retailers.''

Joining Rural Press in the current round are prior investors St. Paul Venture Capital, Sutter Hill
Ventures, Advanced Technology Ventures, Upper Lake Growth Capital and unnamed strategic
investors.

About Rural Press Limited

Rural Press Limited is a major Australian media company with publishing, radio broadcasting,
outdoor advertising, commercial printing and online interests in Australia, New Zealand and the
United States. As well as being the largest agricultural publisher in all Australian mainland states,
Rural Press's activities include publishing the broadsheet daily Canberra Times in Australia's
national capital. In the U.S., Rural Press owns Farm Progress Companies, the largest ag publisher in the country. Farm Progress includes 37 farm and trade journals, custom publishing, database marketing, and nine farm trade shows. Farm Progress has been a primary content provider for DirectAg.com since its launch in 1999. In August 2000, Rural Press Limited announced its ninth consecutive record annual profit, maintaining its position as one of only a handful of companies listed on the Australian Stock Exchange with this achievement. 

Launched in 1999, DirectAg.com is a comprehensive business-to-business Internet site providing
agricultural producers with a broad offering of information and agricultural products and services.
Producers can purchase name brand, high-quality products and services from major agricultural
suppliers at their convenience, any time of day or night. DirectAg.com offers current markets and
agriculture news, including Daily News Harvest(TM) and Dairy News Roundup(TM), a daily
summary of top agriculture stories delivered free of charge directly to producers via e-mail.
DirectAg.com also gives producers free access to experts, such as the site's Virtual
Agronomist(TM), Virtual Livestock Advisor(TM) and Virtual Dairy Expert(TM). DirectAg.com
will continue expanding its offerings of high-value management information, animal health,
machinery and parts, seed and financial services. DirectAg.com is based in St. Paul, Minn.

St. Paul Venture Capital is a leading national venture capital firm focused on early-stage,
technology-driven businesses. With over $1.5 billion under management, St. Paul Venture Capital
brings extensive resources, experience and contacts to bear in partnership with outstanding
management teams. St. Paul Venture Capital has offices in Silicon Valley, Boston and the Twin
Cities. 

Sutter Hill Ventures has been a leader in financing technology-based companies since 1962 and
has more than $400 million available for promising new companies. Sutter Hill invests in
early-stage companies that pioneer products or services in growth markets, primarily in information technology and health care. Sutter Hill Ventures works in partnership with management to solve the financial, recruiting and strategy problems that confront growth companies. 

Advanced Technology Ventures is a leading venture capital firm focusing on opportunities in
information technology and health care. ATV's management experience, technology expertise,
global network of industry contacts and collaborative style has helped more than 100 companies
navigate from inception to IPO and beyond. With more than $300 million currently under
management, ATV's investment philosophy centers on collaborative, active participation with the
management teams of its portfolio companies.

Upper Lake Growth Capital is a venture capital firm focused on startup and early stage medical
and information technology companies. Upper Lake partners brings 25 years of venture investing
experience and 14 years of company operations experience to provide company managements
with seasoned advice on managing and financing growth companies. For more information, contact Upper Lake at 952-995-7496. 

Company news release
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