Cedar Falls, Iowa
January 15, 1999Ag Services of America, Inc. (NYSE: ASV) recently
announced the terms of three new interest savings programs available under its AgriFlex
Credit program. Considering the challenges of lower commodity prices, Ag Services
introduced these special interest savings programs to support its existing customers, as
well as offer an attractive financing alternative to new customers nationwide.
Ag Services is pleased to offer AgriFlex "BONUS
BUNDLE," a new interest savings program for customers using Pioneer
brand seed and DuPont crop protection products. Customers who meet the
Company's normal credit criteria, plant at least 75% of their corn acres with Pioneer
brand seed, use DuPont crop protection products on at least 75% of their corn acres, and
use 10% or
more of their credit line for the purchase of Pioneer brand seed, will earn a credit on
their account equal to a 1.5% reduction of their interest rate. This program is available
exclusively to Ag Services' customers.
Ag Services is also offering customers two options to carry
the seed portion of their total credit line with the Company at 3% below prime through
11/30/99. To qualify, customers who meet the Company's normal credit criteria, must plant
either 75% or more of their corn acres with Pioneer brand seed, or a minimum of $10,000 of
Novartis brand seed.
Ag Services of America, Inc. provides operating financing and
supplies farm inputs including seed, fertilizer, agricultural chemicals, crop insurance,
and cash advances for operating expenses such as land rent, fuel, and irrigation to
farmers primarily in the central United States.
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