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Ag Services of America and Powerfarm to Provide Leasing

29 August 2000

Ag Services of America, Inc., and Powerfarm, Inc. to Provide Vehicle and Equipment Leasing

    CEDAR FALLS, Iowa, Aug. 29 Ag Services of America, Inc. and its subsidiary Powerfarm,
Inc. recently added a leasing option to an already extensive offering of crop
inputs and flexible financing programs. Leasing is now available to producers
online through Powerfarm.com or through field representatives of Ag Services
of America, Inc. with administrative and back end support being provided by
Leasexpress(R), a service of Farm Credit Leasing, which has over 30 years of
experience in agricultural equipment leasing.  Through this leasing option,
producers are able to acquire and lease new vehicles and lease farm equipment
from tractors and combines to processing equipment. The addition of vehicle
and equipment leasing follows the company's strong tradition of providing
innovative solutions for agricultural financing.  Leasing may provide farmers
the ability to acquire equipment without affecting their other credit
arrangements, giving them the ability to rapidly react to changes.  In certain
situations, leasing may also provide a year-end tax-advantage for producers.
    "Leasexpress leases almost any vehicle, equipment and farm building that
is utilized in farming today," said Art Blair, Regional Sales Manager for Farm
Credit Leasing. "We were attracted to a collaborative effort with
Powerfarm.com and Ag Services because of the length of time the company has
been operating and their dedication to agriculture."
    "The leasing program administered by Leasexpress expands the range of
flexible financing options that we provide to farm operators," said Brad
Schlotfeldt, Senior Executive Officer for Ag Services of America, Inc.  "In
today's constantly changing agricultural environment, producers need as many
options as we can provide to help them react quickly and maintain
profitability."
    Leasing is now available to producers either online through Powerfarm.com
or through field representatives of Ag Services of America, Inc.
Powerfarm.com offers an encryption-secured site so that producers can transact
business safely and conveniently 24 hours a day.  Growers can shop for
products or sign up for additional services such as crop insurance, grain
marketing programs, crop scouting and soil sampling services.
    "Powerfarm.com welcomes the collaboration with a leader in agricultural
leasing," said Tad Mozena, Vice President of Marketing for Powerfarm.com.
"Teaming with Leasexpress demonstrates our commitment to provide a one-stop
power source for all farming needs -- now that includes a leasing option for
vehicles, equipment and farm buildings."
    Powerfarm.com has one of the most comprehensive assortments of
agricultural products, services and credit options available on the Internet:
quality seed products produced and supported by Asgrow, Dekalb, Garst,
Novartis, Stine and Wilson.  Crop protection products are available from
American Cyanamid, Bayer, Dow AgroSciences, Monsanto, Novartis, Valent USA and
Zeneca.
    "Powerfarm.com is high tech and high touch and that is the real
difference.  Powerfarm.com has real people available for questions and
consulting by phone or email," said Mozena.  "It's not just another
electronic, virtual dot-com store created out of thin air. Powerfarm.com is an
extension of a successful business model developed to help growers be more
efficient and profitable."