|
Cedar Falls, Iowa
April 2, 2001
Ag Services of America, Inc. (NYSE:ASV) which owns and operates
Powerfarm.com(TM), an agriculture e-commerce site providing crop inputs from major industry firms, announced today the
introduction of the new Powerfarm Plus Card(TM) and an equipment financing option to purchase products online at
Powerfarm.com.
"The Powerfarm Plus Card gives our users yet another choice when it comes to financing their purchases through our site," said
Tad Mozena, Vice President of Marketing at Powerfarm.com. "This new option offers farmers a smaller, revolving line of credit
that is not tied to a crop year for repayment and can be activated quickly with a short approval time."
The Powerfarm Plus Card offers competitive rates versus traditional cards, with a variable interest rate based on the prime rate.
The Card offers a minimum credit line of $2,500 with a maximum at $15,000. Powerfarm Plus Card holders will be required to
make minimum monthly payments, but are not charged any annual fees.
"Ag Services of America developed the Powerfarm Plus Card as another way to meet the individual credit needs of all farmers,
regardless of the size of their operation or what type of credit terms they may prefer," said Mozena. "The features of the Plus
Card nicely compliment our existing AgriFlex and Powerfarm Credit options."
Ag Services has also made an equipment financing option available through Powerfarm.com to finance purchases of existing or
future equipment products available through the site. This option offers three to five year notes with interest rates again tied to the
Prime rate.
Powerfarm.com has compiled one of the most comprehensive assortments of agriculture products, services, credit and leasing
options available on the Internet today. Products currently available include seed, fertilizer and crop protection products, 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, as well as
communicate with other producers around the world to share ideas and discuss topics of concern.
Ag Services of America, Inc., which operates Powerfarm.com, is based in Cedar Falls, Iowa, and is a leading 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 Asgrow,
Aventis, BASF, Dekalb, Dow AgroSciences, DuPont, Garst, Monsanto, Pioneer Hi-Bred and Syngenta. The company also
provides ancillary services such as crop insurance, crop scouting and grain marketing.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. This release contains
forward-looking statements based on current expectations that involve a number of risks and uncertainties. The factors that could
cause actual results to differ materially, include the following: general economic conditions within the agricultural industry;
competitive factors and pricing pressures; changes in product mix; changes in the seasonality of demand patterns; changes in
weather conditions; changes in agricultural regulations; unknown risks; the amount and availability under its asset backed
securitization program; and the risks described from time to time in the Company's SEC reports.
AgriFlex Credit is a registered trademark and Powerfarm.com, Powerfarm Credit and Powerfarm Plus Card are trademarks of Ag
Services of America, Inc. All other trademarks or product names are the property of their respective owners. For more information
visit www.agservices.com
or www.powerfarm.com.
Company news release
N3427 |
