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AG SERVICES OF AMERICA ANNOUNCES FILING OF A REGISTRATION STATEMENT FOR A PUBLIC OFFERING OF $10,000,000 OF CONVERTIBLE SUBORDINATED DEBENTURES

 CEDAR FALLS, Iowa, April 1 /PRNewswire/ -- Ag Services of America, Inc. (NASDAQ: AGSV) filed with the Securities and Exchange Commission a registration statement for the public offering of $10,000,000 principal amount of convertible subordinated debentures due 2003. The company will use the net proceeds of the offering to pay down its bank line of credit. Fahnestock & Co. Inc. and Burnham Securities, Inc. are the underwriters of the proposed public offering.
 Ag Services of America, Inc. supplies farm inputs including seed, fertilizer, agricultural chemicals, crop insurance, and cash advances for land rent, fuel, and irrigation to farmers primarily in the central United States.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.
 -0- 3/31/93
 /CONTACT: Brad Schlotfeldt of Ag Services of America, 319-277-0261/
 (AGSV)


CO: Ag Services of America, Inc. ST: Iowa IN: AGR SU: OFR

KH -- MN001 -- 1935 04/01/93 10:13 EST
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Publication:PR Newswire
Date:Apr 1, 1993
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