March 12, 1997 Dr. Johnny R. Thomas, chief executive officer/president of
Agribiotech Inc , announced that he had purchased 100,000 shares at $3 per share and that Byron Ford, vice
president, had purchased 10,000 shares at $3.22 per share.
Thomas exercised certain of his employee options exercisable at $3 per share through June 30, 2005. Ford
purchased his shares in the open market. Thomas exercised options early in order to facilitate the company's
acquisition plans.
The company's projected schedule, as of this date, is to approximately double its trailing revenue base from
approximately $57 million annualized to about $100 million to $120 million annualized by Sept. 30, 1997.
Management expects that most of this growth will be financed from debt and exercise of existing options and
warrants.
Although there can be no assurances that additional acquisitions will be concluded, negotiations with
acquisition candidates are proceeding on schedule.
Management continues to expect this quarter to be the company's first profitable quarter, as previously stated.
Although the company is on target to have a profitable quarter, the profit is expected to be less than the only
analyst estimate of $2.5 million.
Heavy flooding occurred in two of the company's primary distribution areas, Northern California and Kentucky,
plus surrounding states. It is too early in the season to determine whether opportunities are lost for the year or
simply shifted to the fourth fiscal quarter ending June 30, 1997.
The statements discussed in this news release include forward- looking statements that involve a number of
risks and uncertainties. These include the company's lack of profitability, need to manage its growth, intense
competition in the seed industry, seasonality of quarterly results and other risks detailed from time to time in the
company's Securities and Exchange Commission reports.
AgriBioTech is a fully integrated full-service seed company specializing in the forage and turf seed sector,
complete with research and development of proprietary seed varieties, seed- processing plants and a national
distribution and sales network. The company has completed 11 acquisitions since Jan. 1, 1995, and is now the
fourth-largest forage-seed company in the United States.
CONTACT: AgriBioTech Inc., Las Vegas
John C. Francis, 702/798-1969
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