Agricore Redeeming Debentures

TORONTO - Nov 30/06 - SNS -- Agricore United will fully redeem its outstanding 9% convertible unsecured

subordinated debentures due November 30, 2007 on January 10, 2007.

The outstanding principal amount under the Debentures is $105 million. Pursuant to the trust indenture governing

the Debentures, the Company will settle the principal amount of the Debentures by issuing and delivering Limited Voting Common Shares and will settle any accrued and unpaid interest on the Debentures in cash.

The redemption will improve the Company's leverage ratio and lower its interest costs for the 2007 fiscal year. Assuming no voluntary conversions prior to January 10, 2007, the Company will save $8.4 million in interest expense compared to what it would have paid through to the maturity of the Debentures on November 30, 2007.

The number of Shares to be issued pursuant to the redemption will be determined by dividing the principal amount of the outstanding Debentures on the Redemption Date by 95% of the volume weighted average trading price of the Shares on the Toronto Stock Exchange for 20 consecutive trading days ending on January 3, 2007. The Company will pay the cash equivalent value in lieu of issuing fractional Shares.

Holders of Debentures are reminded that they have the right to convert their Debentures at any time prior to 5:00pm (Toronto time) on January 9, 2007 at a conversion rate of 133.3333 Shares for each $1,000 principal amount of Debentures so converted.