Ag Services of America, Inc. (NYSE: ASV) today announced that shareholder approval was received on December 30th for the proposed sale of the company to Rabobank International, the corporate and investment banking arm of the Netherlands-based Rabobank Group. Ag Services of America has become a wholly owned subsidiary of Rabobank and shareholders of Ag Services will receive $8.50 per share. Upon today's closing of the transaction, the newly acquired company will be named Rabo AgServices, Inc.

Current Chief Executive Officer Kevin Schipper will be President and CEO of the new Rabobank subsidiary. Shawn Smeins will remain Chief Operating Officer and two Rabobank officers, Robert Stevens and Thomas Levasseur, will become Chief Credit Officer and Chief Financial Officer respectively.

Rabobank has previously stated that its acquisition of Ag Services of America builds upon its strategy of exporting its core competencies in retail banking and agricultural lending from its home market of the Netherlands to the most promising markets around the world. This acquisition will broaden and deepen Rabobank's capabilities and geographic reach in the U.S. to the agricultural sector.

Ag Services of America, Inc. is based in Cedar Falls, Iowa, and is a leading supplier of crop input financing to primarily corn and soybean growers in the U.S. The Company's business model includes competitive and flexible financing packages through its AgriFlex Credit® program. 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.

The Rabobank Group is a broad financial services provider. Its cooperative foundation has given it a clear customer focus. All the divisions of the Group work in close cooperation in order to jointly offer customers a superior price-quality ratio and a wide range of financial services and products, such as payment, saving, lending, insuring and investing. The Group consists of 341 independent local cooperative Rabobanks and encompasses specialized subsidiaries and entities such as De Lage Landen (leasing and vendor financing), Gilde Investment (venture capital), Interpolis (insurance), Rabobank International (corporate and investment banking) and Robeco (asset management). The Group is represented internationally with 169 locations in 34 countries. The Rabobank Group has received the highest credit rating from Moody's and Standard & Poor's. The Rabobank Group has over nine million private and business customers and is market leader in The Netherlands in virtually every area of financial services.

AgriFlex Credit is a registered trademark of Ag Services of America, Inc. All other trademarks or product names are the property of their respective owners.