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NEWS

AgServices of America, Inc. expands Powerfarm.com to include crop protection chemical pricing
Cedar Falls, Iowa
January 18, 2000

Ag Services of America, Inc. today announced that they have upgraded Powerfarm.com with additional product pricing and the ability for farmers to purchase and finance crop protection chemicals. This latest enhancement follows the recent introduction of seed pricing and further advances Powerfarm.com as one of the leading providers of name brand agriculture products on the Internet. 

"We are always excited to upgrade Powerfarm.com to be an even more valuable tool for producers," stated Tad Mozena, Manager of Marketing and E-Commerce for Ag Services of America. "We have begun to receive seed orders and anticipate that the introduction of crop protection products will make Powerfarm an even more attractive option for many producers. In
addition to a grower's ability to purchase crop protection products, Powerfarm.com provides several features other chemical sites may not, including, convenient financing options, label and MSDS information, direct to farm chemical shipping, participation in manufacturer grower programs and a flexible return policy." 

Powerfarm.com offers the most comprehensive assortment of ag products, services and credit options available on the Internet today. Products currently available include seed and crop protection chemicals from such manufacturers as American Cyanamid, Asgrow, Bayer, Dekalb, Garst, Monsanto, Novartis, Stine and Zeneca. Along with headline ag news, market quotes and
weather, growers can shop at their convenience day or night for products and sign up for additional services like crop insurance, grain marketing programs, crop scouting and soil sampling services. The company continues discussions with many additional suppliers serving the multi billion-dollar Ag industry. Companies range from farm equipment and parts, to feed and animal health products. In the near future, Powerfarm.com expects to launch their interactive community, which will feature multiple message boards and discussion conferences. The community will also enable producers to post questions and interact with the company's Agronomists, Certified Crop Advisors, special guests and industry experts. 

Ag Services of America, Inc., which operates Powerfarm.com, is based in Cedar Falls, Iowa, and is a competitive supplier of input financing and agricultural inputs, including seed, chemicals, fertilizer and cash advances to primarily corn and soybean growers in the U.S. ASV'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 American Cyanamid, Asgrow, Bayer, Dekalb, Dow Chemical, DuPont, Garst, Monsanto, Novartis, Pioneer Hi-Bred, and Zeneca. ASV finances AgriFlex Credit(R) with a $275 million securitization program that is structured and guaranteed by MBIA Insurance Corporation. ASV protects its receivables by requiring multi-peril crop insurance, the first lien on the crop, assignment of all government payments and additional collateral (preferably land) if necessary. The Company also provides ancillary services such as crop insurance, crop scouting and grain marketing. 

Company news release
N2401

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