NEWS

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NEWS

Ag Services of America launches fertilizer and adds new supply partner to Powerfarm.com
Cedar Falls, Iowa
March 1, 2000

Ag Services of America, Inc. today announced the availability of fertilizer on Powerfarm.com, the company's e-commerce website. Powerfarm will initially feature twelve common fertilizer blends that producers can purchase through a number of payment options with the choice of shipping directly to their farm or FOB. The company also announced the addition of Valent USA Corporation to the growing list of companies participating and supporting Powerfarm.com. Valent USA now joins a list that includes many of the agriculture industry's leading firms. Today, growers can purchase quality seed produced and supported by Asgrow, Dekalb, Garst, Novartis, Stine, and Wilson. Crop protection products are available through Powerfarm.com from American Cyanamid, Bayer, Monsanto, Valent USA and Zeneca.

"With the addition of fertilizer, growers now have secure, one-stop shopping through Powerfarm.com for all of the basic crop inputs needed in production agriculture,'' stated Tad Mozena, Manager of Marketing and E-commerce for the Company. "In order to increase value for producers and manufacturers, Powerfarm goes beyond the simple availability of quality products to include a total package that contains additional services and value.'' 

Mr. Mozena goes on to say, "It is once again our pleasure to welcome a quality company like
Valent USA Corporation to Powerfarm.com. Leading agricultural companies and quality crop input
products provide the foundation Powerfarm is built on as we continue to add new services and
expand product categories for farmers. The additional value available through Powerfarm.com
which includes flexible credit options and support from Certified Crop Advisors, provides farmers a
platform to securely and confidently transact business 24 hours a day, 7 days a week.''

Powerfarm.com has compiled the most comprehensive assortment of agriculture products, services and credit options available on the Internet today. Products currently available include seed, fertilizer and crop protection chemicals, 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. Within the Powerfarm Community, growers can post questions for the company's agronomists and Certified Crop Advisors. The Company continues discussions with additional suppliers serving the $250 billion agriculture industry and most recently announced the addition of a national supplier to provide short line equipment parts.

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® 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® 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
N2553

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