Andersons Discounts Terminal Fire Impact

NEW YORK - Jul 5/05 - SNS -- The Andersons, Inc. says damage to one of its two ship-loading grain elevators in Toledo will not prevent it from meeting its customer service commitments.

The elevator, which The Andersons leases from Cargill, Inc., was damaged by two explosions and a subsequent fire on Friday, July 1, the cause of which is still being investigated. The damaged elevator represents about 7% of the company's total grain storage capacity.

"Although the damage will severely disrupt activities at this facility, our other Andersons' elevators in the Toledo area will help us fulfill our cash grain purchase and sale contracts as well as any delivery obligations to the Chicago Board of Trade," said Hal Reed, President of the Grain Division.

"Thankfully, no one was injured in the incident which severely damaged portions of the facility. While the full extent of the damage has not yet been determined, we have already begun planning our strategy to work around the damaged facility and begin repairs," said Mr. Reed. "We're prepared to do whatever it takes to give our customers the service they deserve and have come to expect from us. Having four other elevators in the Toledo area will help mitigate the service disruption and logistics issues that we expect to encounter."