Alltech International Holdings, Inc. Reports Third-Quarter and Nine-Months Results.

Business Editors

DEERFIELD, Ill.--(BUSINESS WIRE)--Oct. 31, 2003

Alltech International Holdings, Inc. ("AIH") announced today net sales and net income for the three months and nine months period ended September 30, 2003.

Net sales for the third quarter ended September 30, 2003, were $11,253,000 with a net loss of $247,000, or $.03 per share. Comparable results for the year-ago three-month period were net sales of $11,105,000 with net income of $431,000, or $.07 per share. During this three-month period, net sales increased $148,000, or 1.3 percent, and net income decreased by $678,000, as compared with the year-ago period.

Rick Kurtz, President and COO, said: "The operating loss for the third-quarter period was attributable to higher operating expenses. Those expenses included increases for health insurance claims in U.S. operations and greater spending on advertising, as well as from investment in additional staff required for future business expansion, and from reduced margins, both in the USA and in China."

Net sales for the nine months ended September 30, 2003, were $34,568,000 with net income of $1,841,000, or $.20 per share. Comparable amounts for the year-ago period ended September 30, 2002, were net sales of $32,258,000 with net income of $891,000, or $.14 per share. During this nine-month period net sales increased $2,310,000, or 7.2 percent and net income increased $951,000, as compared to the year-ago period.

Kurtz added: "That U.S. domestic sales softened in the third quarter, even as continued, double digit export business growth was sustained. Elsewhere, strong sales increases were recorded in China, and positive sales increases over the same three-month period in 2002 were realized in Australia, Hong Kong, Japan, Mexico and the United Kingdom. Modest sales slippage occurred in Europe during the July 1 through September 30, 2003, period, in comparison with the same three-month period in 2002."

AIH's wholly owned subsidiary, Alltech Associates, Inc. ("Alltech"), is a leading supplier of chromatography products. Chromatography encompasses a number of processes where the composition of chemical mixtures and samples may be qualitatively and quantitatively determined. Alltech manufactures and distributes an extensive range of consumables (columns, sample preparation tools, accessories) and instrumentation for the fields of high pressure liquid chromatography ("HPLC"), gas chromatography ("GC"), ion chromatography ("IC"), thin layer chromatography ("TLC"), solid phase extraction ("SPE") and sample handling. Alltech has two United States locations and branch, subsidiary or joint venture sales offices in 12 countries throughout the world. In addition, Alltech has approximately 75 distributors located throughout the world.

Alltech's World Wide Web site is: www.alltechweb.com. AIH's stock is not currently traded.

Forward-Looking Statements

Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statements containing words such as "believes," "should," "anticipates," "plans," or "expects," as well as other statements, are forward-looking, and those statements involve risks and uncertainties outside of the control of Alltech and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.

               Alltech International Holdings, Inc.
          Unaudited Consolidated Statements of Operations

                  Third Quarter July 1 -       YTD January 1 -
                       September 30             September 30
                  -------------------------------------------------
                     2003        2002          2003        2002
                  ----------- -----------   ----------- -----------
Net Sales         11,252,881  11,105,076    34,567,598  32,257,527

Cost Of Sales      5,769,139   5,813,964    18,319,984  17,190,828
                  ----------- -----------   ----------- -----------
Gross Profit       5,483,743   5,291,113    16,247,614  15,066,700

Operating
 Expenses          5,520,882   4,661,657    15,079,923  13,638,125
                  ----------- -----------   ----------- -----------
Income From
 Operations          -37,139     629,455     1,167,691   1,428,575

Other (Income)
 Expenses:
   Interest
    Income            -8,442     -16,339       -27,013     -24,589
   Interest
    Expense           97,103     131,008       277,545     352,806
   Other             -54,802      12,525      -229,948      15,440
                  ----------- -----------   ----------- -----------
     Total Other      33,859     127,193        20,584     343,656
                  ----------- -----------   ----------- -----------

Income before
 income taxes and
 Minority
 interests           -70,998     502,262     1,147,108   1,084,918

Minority
 interests            26,873      51,305        34,851     112,698
                  ----------- -----------   ----------- -----------
Earnings Before
 Taxes               -97,871     450,957     1,112,257     972,220

Income Taxes:
   Deferred
    Income taxes           0           0    -1,003,902           0
   Income Taxes      148,849      19,962       274,780      81,590
                  ----------- -----------   ----------- -----------
     Total Taxes     148,849      19,962      -729,122      81,590

                  ----------- -----------   ----------- -----------
Net Income          -246,721     430,995     1,841,379     890,630
                  =========== ===========   =========== ===========

Outstanding
 Shares            9,009,652   6,569,150(a)  9,147,911   6,569,150(a)
                  ----------- -----------   ----------- -----------
Basic Earnings
 Per Share            -$0.03       $0.07         $0.20       $0.14
                  =========== ===========   =========== ===========

(a) Adjusted for split