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AG SERVICES OF AMERICA NOTIFIED OF $52 MILLION BANK LINE OF CREDIT

 CEDAR FALLS, Iowa, Dec. 7 /PRNewswire/ -- Pursuant to its Business Plan and subsequent request, Ag Services of America, Inc. (NASDAQ: AGSV) has been notified of approval of an increase in its bank line of credit to $52 million for the fiscal year ended Feb. 28, 1995. The credit facility is a two year commitment. Annually, the credit facility will be reviewed and is renewable for an additional year subject to the company's Business Plan and certain performance factors. This will allow the company to maintain a two year commitment. Other conditions and covenants within the credit facility are similar to the prior agreement.
 Four banks are participating in the credit facility, including Norwest Bank Iowa, N.A., Rabobank Nederland, and two new banks, Daiwa Bank and the national Bank of Detroit, N.A.
 Management is very pleased with the increased line of credit. This increase along with the increase in capital resulting from the company's $13.8 million convertible subordinated debenture offering in April 1993 will allow the company to attain its growth objectives for fiscal 1995.
 Ag Services of America, Inc., supplies farm inputs including seed, fertilizer, agricultural chemicals, crop insurance, and cash advances for land rent, fuel, and irrigation to farmers primarily in the central United States.
 -0- 12/7/93
 /CONTACT: Brad Schlotfeldt of Ag Services of America, 319-277-0261/
 (AGSV)


CO: Ag Services of America, Inc. ST: Iowa IN: AGR SU:

CP-DB -- MN006 -- 1267 12/07/93 12:05 EST
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Publication:PR Newswire
Date:Dec 7, 1993
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