Agricore United

Agricore United

March 16, 2005 10:36 ET

Agricore United Renews Financing Lines


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AGRICORE UNITED

TSX SYMBOL: AU.LV

MARCH 16, 2005 - 10:36 ET

Agricore United Renews Financing Lines

WINNIPEG, MANITOBA--(CCNMatthews - March 16, 2005) - Agricore United
(TSX:AU.LV) announced today that it has renewed its revolving credit
facilities with its bank syndicate.

Members of Agricore United's association of banks include Bank of Nova
Scotia, HSBC Bank Canada, Rabobank Nederland Canadian Branch, Canadian
Imperial Bank of Commerce, National Bank of Canada, Bank of Montreal and
Royal Bank of Canada. Societe Generale (Canada) has also joined the
group which supports Agricore United through this revolving credit
facility and through a term loan facility expiring in 2007, the terms of
which remain substantially unchanged.

The renewed operating facility expires on February 27, 2006. The
existing facility limit of $375 million with a seasonal increase of $50
million between May 1st and October 31st was revised to provide further
seasonal limits of $475 million between January 1st and May 31st, $300
million between June 1st and August 31st, and $425 million between
September 1st and December 31st.

In addition to the association of banking partners, Agricore United
continues to benefit from a diversity of lending partners through a
series of notes, maturing between 2016 and 2023, with John Hancock Life
Insurance Company out of the U.S. and with a variety of Canadian life
insurance companies.

Agricore United is one of Canada's leading agri-businesses. The
prairie-based company is diversified into sales of crop inputs and
services, grain merchandising, livestock production services and
financial markets. Agricore United's shares are publicly traded on the
Toronto Stock Exchange under the symbol "AU.LV".

-30-

Contact Information