Richard Budd, Chairman and Chief Executive Officer (CEO), AgriBioTech, Inc. made several announcements today regarding the Company’s near term prospects, financial targets and
its fiscal year 2000 (FY2000) agenda.

"As a result of a series of comprehensive meetings March 4-5 with senior management regarding our financial performance and Company goals, a number of things have become clear," said Budd. "Demand for our products and spring shipments appears to be very good. Second, although we cannot predict the profitability of the individual remaining two quarters in our fiscal year ending June 30, 1999 (FY1999) due to the seasonality of the seed business, management believes at this time that, excluding the previously announced restructuring charge, we can at least break even on the pre-tax profit line for the remaining sixth-month period of our FY1999."

Budd continued, "Third, and most importantly, I and the ABT Co-Presidents have developed and will be implementing a plan to remove at least $14 million on an annualized basis from the expense side of the business by the end of FY1999." Budd noted that, as a result of this, "management expects that these expense reductions will make ABT profitable in FY2000."

Budd also outlined his and ABT’s priorities going forward, as follows:

• Strengthening and improving the Company’s capital structure,
• Successful integration of the acquired companies by the FY2000 first quarter so that ABT is operating as a single entity before the busy fall selling season,
• Achieve profitability in FY2000.

Also today, the Company announced that Richard Budd filed an SEC Form 4 last Friday, March 5, 1999, giving notice that he purchased personally, on the open market, 100,000 shares of ABT common stock on Monday, March 1, 1999 at a price of $4.70 per share.

AgriBioTech, Inc. is a fully integrated full service seed company specializing in the forage and turfgrass seed sector, complete with research and development of proprietary seed varieties, seed
processing plants, and a national and international distribution and sales network. ABT’s vision is to lead the turf and forage seed industry in discovering its value potential.

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