Cedar Falls, Iowa
December 4, 2002

Ag Services of America, Inc. (the "Company") (NYSE:ASV) announced today that it has received a $100 million one-year commitment for a revolving line of credit. This facility will enable the Company to begin providing credit commitments immediately to its agricultural producers for the 2003 crop season, while continuing to work towards a replacement of its current secured credit facilities.

As previously announced, American Securities Capital Partners, L.P. (ASCP), a New York private-equity investment firm, will make investments in the Company up to an aggregate of $70 million in three annual investments. The first investment of $35 million is expected on or before February 28, 2003. All investments are subject to, among other things, satisfactory completion of due diligence, Ag Services replacement of its current secured credit facilities and shareholder approval.

Ag Services of America, Inc. is based in Cedar Falls, Iowa, and is a leading supplier of crop input financing and agricultural inputs, including seed, chemicals and fertilizers to primarily corn and soybean growers in the U.S. The Company's one-stop shopping business model includes competitive and flexible financing packages through its AgriFlex Credit(R) program combined with the most comprehensive offering of agricultural inputs from national sources such as Asgrow, BASF, Dekalb, Dow AgroSciences, DuPont, Garst, Monsanto, Syngenta and Pioneer Hi-Bred. The Company also administers additional  financing programs for various suppliers, manufacturers and distributors in the  agricultural industry and provides ancillary services such as crop insurance and grain marketing.