Calvin B. Massmann Joins Tractor Supply Company as Chief Financial Officer; Sam K. Reed Elected to the Board of Directors.

Business Editors

NASHVILLE, Tenn.--(BUSINESS WIRE)--Jan. 27, 2000

Tractor Supply Company (Nasdaq/NM:TSCO), one of the largest retail farm and ranch store chains in the United States, announced today that Calvin B. Massmann has been appointed as the new chief financial officer of the Company. Mr. Massmann is a senior-level financial executive with over 20 years of management experience, most recently with Builders Square, Inc. in San Antonio, Texas. He previously served in various financial management positions with W. R. Grace &Co.

Joe Scarlett, Chairman and CEO, stated, &uot;I am very excited about Cal joining Tractor Supply Company. We've conducted a long and extensive search for a strong leader with the proper strategic vision to help guide the Company through its planned growth. We were extremely thorough in our search, looking for just the right qualities. I believe Cal fits the role and I am looking forward to working with him. His solid financial management experience, his insight on the retail industry and his leadership will be key factors to our future success.&uot;

The Company also announced today that Sam K. Reed has been elected to its Board of Directors. Mr. Reed is president, chief executive officer and a director of the Keebler Foods Company (NYSE:KBL). He brings to Tractor Supply Company over 26 years of experience in the food processing and distribution industry, where he has held various positions in finance, manufacturing and executive management. The election of Mr. Reed is effective January 26, 2000, and expands the Board of Directors to six outside members.

Joe Scarlett, Chairman and CEO, stated, &uot;I am personally pleased to have Sam on our Board of Directors. I am looking forward to having his counsel on key issues. His strong management experience in a large public company and his leadership ability will undoubtedly serve us well.&uot;

Tractor Supply Company operates 278 retail farm stores in 26 states, offering a full line of products for hobby and part-time farmers and ranchers, suburban customers, contractors and tradesmen, in addition to full-time farmers and ranchers. Stores are typically located in communities surrounding metropolitan areas and in rural towns. The Company offers a comprehensive selection of merchandise including general maintenance products, lawn and garden products, farm maintenance products, animal products, light truck equipment, and work clothing.

Note: As with any business, all phases of the Company's operations are subject to influences outside its control. This information contains certain forward-looking statements. These statements include reference to certain factors, any one, or a combination, of which could materially affect the results of the Company's operations. These factors include general economic cycles affecting consumer spending, weather factors, pricing and other competitive factors, the timing and acceptance of new products in the stores, the mix of goods sold, capital market conditions in general and the seasonality of the Company's business. Forward-looking statements made by or on behalf of the Company are based on a knowledge of its business and the environment in which it operates, but because of the factors listed above, actual results could differ materially from those reflected by any forward-looking statements. Consequently, all of the forward-looking statements made are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequences to or effects on the Company or its business and operations.