Agricore United (TSX:AU) today announced that it is reviewing the recently mailed unsolicited share exchange offer from Saskatchewan Wheat Pool Inc. ("Sask Pool") to purchase all the Outstanding Limited Voting Common Shares, Series A Convertible Preferred Shares, and Convertible Unsecured Subordinated Debentures of Agricore United.

Agricore United advises its shareholders and debentureholders that there is no need for them to take any action to respond to the hostile bid at this time and they should not tender any shares until they have received a recommendation by the company's Board of Directors. The offer's current expiry date is January 24, 2007. The Board expects to make its recommendation by mid-December.

The Agricore United Board of Directors has established a Special Committee of independent directors to thoroughly evaluate the offer and to examine a range of strategic alternatives, including continuing as a stand-alone entity. The Special Committee will undertake this review in consultation with its financial advisors, Scotia Capital Inc. and Blair Franklin Capital Partners Inc., and its legal counsel, Davies Ward Phillips and Vineberg LLP.


Based on the recommendations of the Special Committee, the Board of Directors will issue a circular to Agricore United shareholders including a recommendation for the action it believes is in the best interest of shareholders.

Shareholders and owners of debentures are advised not to act upon the Sask Pool offer until they have received and read the Directors' Circular and the related recommendation.

Agricore United is one of Canada's leading agri-businesses with headquarters in Winnipeg, Manitoba and extensive operations and distribution capabilities across western Canada, as well as operations in the United States and Japan.
Agricore United uses its technology, services and logistics expertise to leverage its network of facilities and connect agricultural customers to domestic and international customers and suppliers. The company's operations are diversified into sales of crop inputs and services, grain merchandising, livestock production services and financial services. Agricore United's common shares are traded on the Toronto Stock Exchange under the symbol "AU".