October 10, 2002 — Powerspan Corp., developer of ECO multi-pollutant control technology for power plants, and AmerenUE, a Missouri-based electric utility, have developed plans for a full-scale installation of the technology at AmerenUE’s Sioux Plant in St. Charles County, Mo.

Powerspan and AmerenUE have requested co-funding for the proposed $146 million project under the Clean Coal Power Initiative, a cost-sharing program of the U.S. Department of Energy (DOE) that supports emerging clean-coal technologies. ECO, or Electro-Catalytic Oxidation, reduces high levels of sulfur dioxide, nitrogen oxides, mercury, and fine particulate matter from coal-combustion flue gas. The technology also produces a marketable fertilizer byproduct, eliminating landfill disposal of waste.

The project team includes Wheelabrator Air Pollution Control, Inc. (WAPC), Sargent & Lundy, LLC, and The Andersons, Inc. — a diversified agricultural company that will manage the production and marketing of the fertilizer byproduct.

WAPC will provide its wet-scrubbing technology, design engineering, and equipment supply for the ECO system, utilizing its extensive utility experience with air emission controls. Sargent & Lundy will use its broad experience with coal-fired power plants to provide design and engineering services for integration of the ECO system into the existing plant infrastructure.

The 510-megawatt ECO system will be installed on Sioux’s Unit #2 following successful operation of the 50-megawatt commercial demonstration unit now being built at FirstEnergy Corp.’s R.E. Burger Plant in Ohio. Prior to proceeding with design of the full-scale system, pilot tests will be conducted at Sioux Plant to verify the technology’s performance on low-sulfur coal.

Frank Alix, Chairman and CEO of Powerspan, praised the DOE program. “This program provides an incentive to accelerate the commercial deployment of the most promising clean-coal technologies, helping to preserve coal as a fuel source for electricity generation and at the same time, making our air cleaner,” he said. “We are fortunate to be working with forward-looking companies like AmerenUE and The Andersons on this important project.”

According to Chuck Naslund, AmerenUE’s Vice President of Power Operations, “This advanced multi-pollutant control technology promises to substantially reduce plant emissions to levels much lower than currently required by law.” He added, “We are proud to have this opportunity to work with Powerspan and DOE, and build on our legacy of environmental leadership.”

Mike Anderson, President and CEO of The Andersons, Inc., said, “We are excited to be working on a promising new technology that benefits both the environment and the agricultural community. This is a great opportunity to create value for our agricultural customers while reducing both air emissions and byproduct wastes.”

About Powerspan

Powerspan Corp., a clean-energy technology company based in New Durham, N.H., is engaged in the development and commercialization of proprietary multi-pollutant control technology for the electric power industry. Visit www.powerspan.com for more information.

About AmerenUE

Founded in 1902 as Union Electric Company, AmerenUE is Missouri’s largest electric utility. Ameren Corporation (NYSE: AEE), the parent corporation of AmerenUE, is one of the largest investor-owned electric utilities in the U.S., with $10 billion in assets. For more information, visit www.ameren.com.

About The Andersons

The Andersons, Inc. (NASDAQ: ANDE) is a large, diversified agribusiness and retailing company based in Maumee, Ohio. With revenues of nearly $1 billion, The Andersons has established itself as a respected leader and prominent regional player in grain originations and marketing and in the formulation and distribution of agricultural nutrients in the eastern Corn Belt. Visit www.andersonsinc.com for more information.