Agway Issues Statement On Grain SYRACUSE, NY - Agway Inc. issued the following statement Thursday; "On June 28, 1999 it was disclosed to the company that records had been falsified during the fiscal year ended June 1999 to conceal losses from unauthorized speculative activity in the Agricultural Group's Grain Marketing business. An investigation of these matters is currently being CA • Weight-Tromx • Bucket Elevators Feed Mill • Stirring Systems • Transport Augers • Utility Augers winter Call Us For Your Grain Dryer Service Work - 24 Hour Service... School Trailed Technicians unm /• / / / ★Full Line Part* Dept.* ★Sell, Service & Inetell* Marketing Loss conducted utilizing internal financial staff, the Company's external audit firm, and legal counsel. Actions have been taken by the Company to limit the loss from this unauthorized activity. In addition, individuals identified as involved in the unauthorized speculative activity have been terminated from employment. The preliminary unaudited results of that investigation indicate the • Feed Bins • Wet Tanks • Gram Bins (§S£) AUTOMATIC BATCH OR CONTINUOUS FLOW GRAIN DRYERS 5 <t ® 1 --m 19. a. Westfield Grain Augers BUY NOW, SAVE NOW 6 MONTHS NO INTEREST Truckload Sale Transport Augers In Stock Rt. 272 South 14 Herrville Road Willow Street, PA 17584 Ph. 717-464-3321 or Toll Free 800-732-0053 Mon.-Fri. 6:30 am to 8 pm Sat. 7:30 am to 6 pm Sun. Oloaad total loss to the Company associated with the unauthorized activity is less than $lO million. While the investigation in ongoing, the Company, at present, still expects to report positive • Air Drying Systems • Gram Dryers • Parts & Motors The Competitive Edge “Smart system” eliminates guesswork Early Order Winter Program JCE m m Hardware UPS Shipping Point 6/26 Ml WHAT DO THESE FARMS HAVE IN COMMON COW COMFORT AND PRODUCTION TUNNEL VENTILATING PURINA PROTEUS & EXT High Bros, feed Consultants, Doug High, Jr., Left - Rick Kolb, Purina Mills Dairy Specialist, Right with Doug High Sr. (Not pictured) wants to work for your cows comfort and production. That works and continues to work! gj State Of The Art Research 53 Highly Trained Personnel £5 Local Ph.D Nutritional Backup 53 Veterinarian Services (Sample Analysis) K earnings before income taxes for the year. However, it may be necessary to restate financial results for the first three quarters of the fiscal year ended June BY USING AND HIGH BROS. 441 Centerville Road Gordonville, PA 717-354-0301 Lancaster*Farming, Saturday, July.lo, 1999-A39. 1999 The financial results of this activity will be more fully disclosed in the Company's 1999 annual report filing with the Securities and Exchange Commission." 53 State of the Art Milling Facilities 55 Local Dealer Representation 53 Product Guarantee Highest Energy Products in the industry K
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