AgriBioTech Inc. Announces Personnel Changes.

LAS VEGAS--(BUSINESS WIRE)--Nov. 3, 1998--Dr. Johnny R. Thomas, chairman and chief executive officer, AgriBioTech Inc. (ABT) (Nasdaq/NM:ABTX), announced that Randy Ingram, formerly assistant chief financial officer, was appointed CFO on Nov. 2, 1998, and Henry Ingalls, vice president and formerly CFO, will continue as vice president focusing on capital formation, mergers and acquisitions, and Securities and Exchange Commission reporting activities.

According to Thomas: "This realignment of duties has been planned for some time. The changes reflect the maturation of AgriBioTech Inc. from a primary focus on growth through mergers and acquisitions to a primary focus of operating the sixth-largest seed company in the world.

"Mr. Ingram was recruited for his exceptional seed-operations experience with Novartis and previously Northrup King Co. Mr. Ingalls will continue as an officer focusing on capital formation and mergers and acquisitions with me and working with Mr. Ingram on external reporting activities."

Prior to joining ABT, Ingram was head, Business Planning and Development, at the global headquarters of Novartis Seeds AG (Basel, Switzerland), the world's second-largest seed company. Prior to that position, he served as vice president of finance and CFO at Northrup King Co. (Minneapolis), at the time an operating unit of Sandoz Seeds Ltd.

In his position at Novartis Seeds, he coordinated global strategic and annual business-planning processes, and served as leader of technology licensing and acquisition efforts. He also led new-business development efforts in various crops, including the grasses sectors.

As vice president of finance and CFO at Northrup King Co., Ingram headed all traditional finance activities, including accounting, reporting, budgeting, long-range financial planning, management information systems and financial analysis.

Prior to his service at Northrup King, Ingram held increasingly important positions in auditing and finance at Pioneer Hi-Bred International Inc. He began his career as an auditor at Peat Marwick, currently KPMG Peat Marwick LLP (KPMG). He is a certified public accountant, with extensive postgraduate work in executive education at leading U.S. and European institutions.

Ingalls joined ABT in April 1996 after a career with KPMG, spanning nearly 28 years, including 18 as a partner.

According to Thomas: "Mr. Ingalls has been instrumental in overseeing all phases of ABT's finance function during this period of rapid growth. He has been actively involved in capital formation, mergers and acquisitions, treasury and cash management, accounting and reporting, financial strategy, income and other tax matters, and employee-benefit matters.

"ABT's growth and size dictate this is the appropriate time to transfer many of these responsibilities to others in the organization to allow Mr. Ingalls to focus on the areas above."

AgriBioTech is a fully integrated full-service seed company specializing in the forage and turfgrass seed sector, complete with research and development of proprietary seed varieties, seed- processing plants and a national and international distribution and sales network.

The company has completed 33 acquisitions since Jan. 1, 1995, and is the largest forage and cool-season turfgrass seed company in the world, with a current level of annualized net sales of approximately $460 million, excluding the previously announced pending acquisitions of the alfalfa business unit of AgriPro Seeds Inc., Moore Seed Processors and Production Plus+, which have annualized net sales aggregating approximately $35 million.

The statements discussed in this news release include forward- looking statements that involve a number of risks and uncertainties. These include the company's historical lack of profitability, need to manage its growth, intense competition in the seed industry, seasonality of quarterly results, weather conditions, volatile stock price and other risks detailed from time to time in the company's SEC reports.