Date: Fri, 21 Nov 1997 00:45:54 GMT Server: Apache/1.2.0 Last-Modified: Fri, 01 Aug 1997 20:24:21 GMT ETag: "2e1b4-161d-33e245f5" Content-Length: 5661 Accept-Ranges: bytes Connection: close Content-Type: text/html DR. WOLFGANG SAUER JOINS AGCO BOARD OF DIRECTORS

FOR IMMEDIATE RELEASE

For additional information contact:

Judith A. Czelusniak
Vice President, Corporate Relations
(770)813-6044

DR. WOLFGANG SAUER JOINS AGCO BOARD OF DIRECTORS

ATLANTA, GA June 17 -- AGCO Corporation (NYSE: AG), a leading global supplier of agricultural equipment, today announced that Dr. Wolfgang Sauer has joined its Board of Directors.

Dr. Sauer, who was elected to AGCO’s Board of Directors on May 28, 1997, is a distinguished expert on business administration, international management and education, based in Brazil. He is active in industrial development and deregulation in Latin America. “The election of Dr. Wolfgang Sauer to AGCO’s Board of Directors strengthens the practical expertise of our Board in global issues that will increasingly affect the agricultural industry,” according to Robert J. Ratliff, AGCO’s Chairman of the Board. “AGCO is a global leader in distribution with a significant presence in the Americas, Europe, Africa, the Middle East and the Pacific Rim and number-one market presence in Latin America, Germany and several other key growth markets.”

Dr. Sauer is principal of WS Consult-Wolfgang Sauer & Associates S/C. Ltda., an international consulting company headquartered in São Paulo, Brazil. He is also the founder and Honorary President of the Integrated Council of the German Commercial and Industrial Chambers in Brazil.

Since 1992, Dr. Sauer has served as Chairman of the Board of SPTrans - São Paulo Transporte (formerly CMTC-Companhia Municipal de Transportes Coletivos). There, he successfully managed the privatization of the municipal bus transportation system by appointment of the Mayor of the city of São Paulo.

Since April 1993, Dr. Sauer has been an Associated Consultant to the international audit and consulting firm of Coopers & Lybrand Biedermann, Bordasch, Brazil. Since 1994, he has served as Special Advisor for Industrial Development to the Government of Paraguay. He also serves as Advisor for Economic and Industrial Structure Development and Decentralization of Industries to the Brazilian state governments of Paraná and Rio Grande do Sul.

Dr. Sauer was formerly President of the Autolatina Economic Council from 1989 until 1990, and a member of the Autolatina Consultant Group from 1991 until 1995. He was the founder of Autolatina, the holding company for all of the activities of Volkswagen and Ford in Brazil and Argentina.

From 1973 until 1987, Dr. Sauer was President of Volkswagen do Brasil. Earlier in 1973, he served as President of Audi AG (Germany). He was previously with the German industrial company, Robert Bosch, beginning in 1961. There, he developed the company’s business in Campinas – SP, Brazil, reorganized its Argentina operations, and served also as Sales Director in Brazil. In 1965 he was named Chief Executive Officer and President of Robert Bosch do Brasil. He was named President of Robert Bosch in Latin America in 1966.

Dr. Sauer serves on the Board and Administration councils of several companies in Brazil including Iochpe-Maxion S.A., Coca-Cola Indústrias Ltda., Hannover Seguros S.A., Xerox do Brasil S.A., Carborundum S.A., Atlas Copco do Brasil Ltda., and Icatu Holding.

Dr. Sauer received the title Doctor Honoris Causa from the Pontifícia Universidade de Campinas-SP-Brazil in 1978 for his achievements in industrial, commercial and company organization.

Dr. Sauer has been conferred the titles of officer and commander of Ordem Cruzeiro do Sul by the Government of Brazil. He has also received the title of Honorary Professor from the Superior Education of Engineering Senador Flaguer, for his expertise in technical training. He has also been named Honorary Citizen of the Brazilian cities of São Paulo, Campinas, Taubaté, Mauá and Barretos.

Dr. Sauer received the Das Verdienstkrauz am Bande (Merit Cross) from the German Government in 1977. He received Das Verdienstkrauz 1. Klasse (Supreme Merit Cross) from the German Government in 1992. He also received the highest decoration from the Government of Germany, Das Grosse Verdienstkrauz (The Great Merit Cross) in 1992, in recognition of his contributions to the commercial, cultural and social relationship between Brazil and Germany.

Dr. Sauer was born in Stuttgart, Germany in 1930. He received Brazilian citizenship in 1982.

AGCO Corporation, headquartered in Duluth, Georgia, is a global manufacturer and distributor of agricultural equipment and related replacement parts. AGCO products are distributed in 140 countries. AGCO offers a full product line including tractors, combines, hay tools, forage equipment and implements through more than 7,000 independent dealers and distributors around the world. AGCO’s products are distributed under the brand names AGCO®Allis, Massey Ferguson®, Hesston®, White, GLEANER®, White-New®Idea, AGCOSTAR®, SAME, Black Machine, Landini, Tye®, Farmhand®, Glencoe®, Deutz (South America), IDEAL, Western Combine, PMI and Fendt. AGCO provides retail financing worldwide through its Agricredit joint venture in North America and through its Massey Ferguson Finance joint ventures in the U.K., France and Germany. In 1996 AGCO had sales of $2.3 billion.

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