Share Plan Boosts ADM's Agricore United Holdings

EDMONTON - Feb 11/04 - SNS -- Agricore United shareholders approved a one-day share consolidation of the Company’s limited voting common shares under a scheme which will see ADM Agri-Industries Company ownership of the company expand from 20.1% to 23%.

The decision will result in registered shareholders who own less than 100 limited voting common shares as at February 22, 2004 receiving cash compensation based on a market price of $9.63 per share, and without brokerage fees, in return for the Company acquiring and canceling their shares.

Up to 1.52 million shares are involved. To finance the repurchase of the shares, the Company’s Board of Directors also approved the sale of an equivalent number of limited voting common shares at $9.63 per share to its largest shareholder, ADM Agri-Industries Company, a wholly owned subsidiary of Archer Daniels Midland Company.

"Since the Company expects to sell all of the shares to ADM Agri-Industries Company, the Company will not pay agents' fees or other commissions and will be able to use all of the proceeds to repurchase the estimated 1.5 million shares under the share consolidation program," said Agricore United Chief Executive Officer, Brian Hayward.

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