Winnipeg, Manitoba
September 10, 2002

Agricore United together with Scotiabank has launched its Fall Production Credit program through Agricore United Financial. For farmers with qualifying credit ratings, all crop inputs purchased from Agricore United before November 30, 2002 will not be due for repayment until October 25, 2003.

With competitive interest rates and extended repayment terms, the Fall Production Credit program fulfills the need for financial products that are timed to customer cash flow and grain marketing cycles. Farmers can buy products such as fertilizer and related application services this fall without making a payment until after harvest in 2003.

The program also has a simple approval process. Customers who have already been approved for credit with Agricore United are pre-approved for the Fall Production Credit program, subject to their credit limit.

Due to strong demand from customers across the Prairies, the Fall Production Credit program has grown each year since the program began in 2000. Annual lending, which was $12 million in 2000 and $25 million in 2001, is projected to be up to $75 million in 2002.

Agricore United Financial is a strategic initiative developed by Agricore United and Scotiabank that has expanded the financing options available to western Canadian farmers. Farmers can obtain financial products from their Agricore United representative, backed by the expertise and resources of Scotiabank. Over 25,000 prairie farmers have taken advantage of the range of programs provided under the initiative in the past year.

Scotiabank understands the need for dependable financial services geared to agricultural producers, whether their plans are to grow, diversify or improve farm operations. Scotiabank's team of dedicated Agricultural Banking Specialists is backed by a complete range of financial services and committed
to the future of Canadian agriculture.

Agricore United is one of Canada's leading agri-businesses. The prairie-based company is diversified into sales of crop inputs and services, grain merchandising, livestock production services and farm business communications. Agricore United's shares are publicly traded on the Toronto Stock Exchange under the symbol "UGG".