December 22, 2004 AGCO Wins Prestigious Design & Performance Awards during 2004 DULUTH, Ga., Dec 22, 2004 (BUSINESS WIRE) -- AGCO Corporation (NYSE:AG), a worldwide designer, manufacturer and distributor of agricultural equipment, announces for the second year in a row it was the recipient of the most coveted industry award won for performance and engineering perfection of agricultural products. While at the Italian EIMA Agricultural Show, AGCO Corporation won the 2005 Tractor of the Year Award for the Massey Ferguson 8480 tractor and the Golden Tractor Award for the Valtra C 150 tractor. These prestigious awards are the result of a poll of over 14 judges consisting of many of Europe's leading agricultural journalists who rigorously assess the machines' performance. AGCO's Massey Ferguson 8480 won the highest marks. The MF 8400 Series, launched in September, is designed specifically to produce the very demanding outputs needed for economic operation in intensive fieldwork. Rated at 290 to 315 horsepower, the MF 8480 is the most powerful in a four-model range. All tractors are equipped with MF's highly acclaimed Dyna-VT continuously variable transmission, based on well-proven technology. Operators are closeted in the quietest, most comfortable cab environment in which to work. Comfort is further enhanced by MF's award winning Dual Stage cab suspension, which is fitted as standard. At the same show, AGCO's Valtra tractor C Series won the Golden Tractor for Design. This tractor, ideal for livestock farms, won for its agility and technical solutions inside the compact body design. This machine embodies simplicity and ease of use. Martin Richenhagen, Pres. & CEO, said, "We are delighted that the MF 8480 and Valtra C 150 have received these top accolades. Since joining AGCO, this past March, I have been impressed by the new ranges of tractors that both Massey Ferguson and Valtra now have to offer to customers of all types. The MF 8480 is a superb illustration of Massey Ferguson's commitment to producing exciting new products that all feature high caliber, innovative engineering. The quality, performance and reliability of the total new range of MF tractors is truly representative of a global brand. The Valtra C Series products are created to highlight the functional use for our customers. The Valtra C 150 focuses on the work ergonomics, the safety, comfort, and the ability of the driver to work for long hours. The design quality is also enhanced by the wide range of colors available for the customer's personal choice." AGCO is not a newcomer to award winning designations. This year, AGCO received the AE-50 certification awards for Outstanding Innovations by the American Society of Agricultural Engineers. In Brazil, AGCO was recognized with the "Top of Mind" Award for Massey Ferguson tractors. Last year, AGCO's Fendt 930 Vario TMS won the Tractor of the Year 2004 Award. AGCO Corporation, headquartered in Duluth, Georgia, is a global designer, manufacturer and distributor of agricultural equipment and related replacement parts. AGCO products are distributed in more than 140 countries. AGCO offers a full product line including tractors, combines, hay tools, sprayers, forage, tillage equipment and implements through more than 8900 independent dealers and distributors around the world. AGCO products are distributed under the brand names AGCO(R), Agco Allis(R), AgcoStar(R), Challenger(R), Farmhand(R), Fendt(R), Fieldstar(R), Gleaner(R), Glencoe(R), Hesston(R), LOR*AL(R), Massey Ferguson(R), New Idea(R), RoGator(R), SisuDiesel(TM), Soilteq(TM), Spra-Coupe(R), Sunflower(R), TerraGator(R), Tye(R), Valtra(R), White(TM), and Willmar(R). AGCO provides retail financing through AGCO Finance in North America and through Agricredit in Australia, the United Kingdom, France, Germany, Ireland, and Brazil. In 2003, AGCO had net sales of $3.5 billion. Please visit our website at www.agcocorp.com. SOURCE: AGCO Corporation AGCO Corporation, Duluth Molly Dye, 770-813-6044 1.