Agricore Mails JRI Bid to Shareholders

WINNIPEG - May 4/07 - SNS -- Agricore United is now mailing shareholders copies of the formal bid from James Richardson International (JRI) to take over the company, along with the board's recommendation the bid be accepted.

The documents sent to Agricore shareholders contain important information related to JRI's all-cash offers to acquire all of the limited voting common shares of Agricore for $19.25 per share and all of the Series A convertible preferred shares of Agricore for $24.00 per share (plus accrued and unpaid dividends).

The combined business will operate as Richardson Agricore. The JRI offers will expire on June 12, 2007, unless extended, and remain subject to certain conditions, including the support of the transaction by holders of at least 75 percent of the outstanding limited voting common shares and the receipt of necessary regulatory clearances.

The Agricore Board of Directors maintains its recommendation that Agricore shareholders reject the Saskatcheaan Wheat Pool (SWP) offer and not tender their Agricore shares to that offer. Agricore shareholders who have already tendered their shares to the SWP offer must withdraw them in order to accept the JRI offers. For assistance in doing so, Agricore shareholders are urged to contact Georgeson, Agricore's information and proxy solicitation agent, toll-free within North America at 1-866-598-9684.