CTB International Corp. Expands Share Repurchase Program to Buy Back Up to 500,000 Additional Shares.

MILFORD, Ind.--(BUSINESS WIRE)--Oct. 8, 1998--CTB International Corp. (Nasdaq:CTBC) today announced that its board of directors approved the expansion of its stock repurchase program to 1,500,000 shares of common stock. The manufacturer of systems for the poultry, swine and grain industries will buy shares on the open market over an indefinite period. To date in 1998, the company has repurchased 738,000 common shares under the previously announced repurchase program.

"We believe CTB's stock is a real value right now," said Chris Chocola, president and chief executive officer of CTB International Corp. "We are confident in our long-term strategy and fundamentals, and we believe this is a good thing to do in light of recent declines in the stock price."

CTB continues to focus on its strategy of growing its presence in its core markets; increasing its share of under-penetrated market segments through an integrated product offering; completing strategic acquisitions; and expanding internationally.

In 1998, CTB has acquired STACO, Inc., a swine equipment designer and fabricator, as well as Sibley Industries, Inc., a manufacturer of heating systems for the agriculture industry. It has also announced its intent to acquire Roxell N.V., a European pig and poultry equipment manufacturer; a joint venture in Brazil for the manufacture of grain and seed storage and handling systems; and, most recently, an exclusive marketing agreement for Jay-Dee Industries' breeder nesting systems.

CTB International Corp., based in Milford, Indiana, is a leading manufacturer and marketer of automated feeding, watering, heating, and ventilation systems; commercial egg laying and handling systems; and feed and grain storage bins as well as grain handling equipment. The company also markets breeder nesting systems. Founded in 1952, CTB serves the poultry, swine, egg production and grain industries. It operates from facilities in Europe and Latin America as well as from U.S. plants in Indiana, Alabama, Missouri, and Pennsylvania.