AgriBioTech Inc. today announced that its outstanding shares of common stock are the subject of a "mini-tender offer'' by New World Liquidity Fund. 

The offer, directed at the Company's shareholders, is for the purchase of up to 1 million shares of
the outstanding common stock of ABT at $.25 per share. Offers of this type are sometimes
referred to as "mini-tenders'' because the offeror seeks to purchase less than 5% of the
outstanding stock of the target company. 

"We express no opinion regarding the New World offer, and we are remaining neutral with
respect to the offer,'' said William A. Brandt, who is the court-appointed responsible person for
the Company. In addition, Development Specialists Inc. (of which Brandt is a principal) serves as
the court-approved reorganization consultant to ABT. 

"The rights of holders of the Company's common stock remain subject to, and are expected to be
determined by, the Company's Chapter 11 bankruptcy proceedings. At the present time, it
remains uncertain, and probably doubtful, whether the proceeds of the Company's liquidation will
generate any distribution to the Company's stockholders,'' stated Brandt. 

The Company filed for Chapter 11 bankruptcy protection on Jan. 25, 2000. For further
information regarding the Company's bankruptcy case, interested persons may turn to the
Company's Web site at www.agribiotech.com.  

AgriBioTech Inc. is a vertically integrated, full-service seed company specializing in the forage and turfgrass sector, complete with research and development of proprietary seed varieties, seed
processing plants, and a national and international distribution and sales network. 

Company news release
N2602