Agricore United

Agricore United

March 29, 2005 16:16 ET

Agricore United Welcomes Federal Assistance For Farmers


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AGRICORE UNITED

TSX SYMBOL: AU.LV

MARCH 29, 2005 - 16:16 ET

Agricore United Welcomes Federal Assistance For Farmers

WINNIPEG, MANITOBA--(CCNMatthews - March 29, 2005) - Agricore United
(TSX:AU.LV) welcomed the federal government's announcement today of $1
billion in immediate assistance to Canadian farmers.

The program includes a general payment of $841.5 million for all
eligible producers under the Farm Income Payment Program, with funds to
start flowing in April.

Agricore United Chair, Wayne Drul, says he's pleased the majority of
assistance will be provided to the cattle and grains and oilseeds
sectors, which have been hit hardest by BSE and adverse weather. While
the program is not a long-term fix, Drul notes it is a much-needed boost
to farmers as they gear up for spring seeding.

"I'm pleased to see the Canadian government recognizes the unprecedented
series of challenges our industry has faced over the past year and is
prepared to act," says Drul, himself a grains and oilseeds farmer from
Oakburn, Manitoba. "While this program is only an interim step, I
believe it's a sign government officials are listening to farmers'
concerns."

Drul also commends Agriculture and Agri-Food Minister Andy Mitchell's
commitment to a long-term plan to improve farm incomes.

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".

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Agricore United
    Cam Dahl
    Government Relations/Policy Development Officer
    Bus: 204-954-1122
    Cel: 204.223.2160
    Cdahl@agricoreunited.com