Bernstein Liebhard & Lifshitz, LLP Commences Class Action on Behalf of Purchasers of AgriBioTech Inc. Common Stock and Call Options.

NEW YORK--(BUSINESS WIRE)--Feb. 3, 1999--A Class Action has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock and call options of AgriBioTech, Inc. ("AgriBioTech"), between October 8, 1998 and January 22, 1999 (the "Class Period"), alleging violations of the federal securities laws. The lawsuit names as defendants AgriBioTech and Johnny R. Thomas, AgriBioTech's chairman and chief executive officer.

The suit alleges that during the Class Period AgriBioTech violated section 10(b) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder and Thomas violated section 10(b), Rule 10b-5, and section 20(a) of the Exchange Act by issuing a series of materially false and misleading representations about AgriBioTech's purportedly aggressive efforts to explore strategic alternatives for the company in order to maximize shareholder value which, according to the defendants, would culminate in finding a buyer for the company by early February 1999 at a price in the range of between $25 per share to $70 per share.

According to Bernstein Liebhard & Lifshitz, LLP, on January 22, 1999, defendants shocked the market by announcing that AgriBioTech was ceasing its search to find a buyer and would remain independent and that it would not be able to make any more acquisitions except on an "opportunistic basis." In response to defendants' stunning announcement after the close of market trading, the price of AgriBioTech's common stock plummeted, and the stock is now trading below $8 per share. The prices of AgriBioTech's call options have similarly plunged in response to this news.

Plaintiff has selected Bernstein Liebhard & Lifshitz, LLP to represent him and the Class. The attorneys at Bernstein Liebhard & Lifshitz, LLP have extensive experience in securities class action cases, and have played lead roles in major cases over the past several years which have resulted in recoveries of millions of dollars to investors.

The attorneys at Bernstein Liebhard & Lifshitz, LLP have been recognized by courts for the high quality of their legal representation of defrauded investors. The firm also has extensive experience in corporate and shareholder litigation, consumer protection and other areas of complex litigation.

If you purchased or acquired AgriBioTech common stock or call options between October 8, 1998 and January 22, 1999, inclusive, and either lost money on the transaction or still hold the stock or call option contract, you may wish to join in the action to serve as lead plaintiff.

In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers with the Court within 60 days of January 25, 1999. This early notice to class members is being made pursuant to applicable law.

If you would like to discuss this action or if you have any questions concerning this Notice or your rights as a potential class member or lead plaintiff, you may contact Robert J. Berg, Esq., or Sandy Liebhard, Esq., at Bernstein Liebhard & Lifshitz, LLP 10 East 40th Street, 22nd Floor, New York, NY 10016, 800/217-1522 or 212/779-1414. Internet Address: [e-mail] or [e-mail].