AgriBioTech Inc. announces second-quarter results.

LAS VEGAS--(BUSINESS WIRE)--Feb. 14, 1997--Dr. Johnny R. Thomas, chief executive officer of AgriBioTech Inc. (NASDAQ/NM:ABTX), announced that revenues and losses for the second quarter of fiscal 1997 were $13,288,170 and $1,179,299, or 9 cents per share, respectively, as compared with $4,463,644 and $935,187, or 13 cents per share, for the comparable quarter of the preceding year.

Revenues increased by 198 percent over the comparable period for fiscal 1996. Assets and net equity were $49,341,465 and $22,013,032, respectively, as of Dec. 31, 1996.

Operating results for the first six months of the fiscal year indicate that the company is on target to achieve fiscal 1997 revenues of $52 million, with a small operating profit for the year.

According to Thomas, the second-quarter losses were larger than budgeted because of the delayed closing of the W-L/Germain's acquisition last quarter.

Management is pleased that the company is on target to achieve fiscal 1997 expectations; however, it is prudent to note that approximately 60 percent of the company's revenues occur in the remaining two fiscal quarters because of seasonality of the seed business.

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

or

Liviakis Financial Communications

Robert B. Prag, 916/448-6084