Document:

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                                                                     EXHIBIT 4.6

                                                                  EXECUTION COPY

                          REGISTRATION RIGHTS AGREEMENT

         This REGISTRATION RIGHTS AGREEMENT dated November 14, 2001 (the
"Agreement") is entered into by and among Land O'Lakes, Inc., a Minnesota
cooperative corporation (the "Company"), the entities listed in Schedule I
hereto (the "Subsidiary Guarantors"), and J.P. Morgan Securities Inc., SPP
Capital Partners, LLC, SunTrust Capital Markets, Inc., Tokyo-Mitsubishi
International plc and U.S. Bancorp Piper Jaffray, (the "Initial Purchasers").

         The Company, the Subsidiary Guarantors and the Initial Purchasers are
parties to the Purchase Agreement dated November 8, 2001 (the "Purchase
Agreement"), which provides for the sale by the Company to the Initial
Purchasers of $350,000,000 aggregate principal amount of the Company's 8 3/4%
Senior Notes due 2011 (the "Securities") which will be fully and unconditionally
guaranteed on an unsecured senior basis by each of the Subsidiary Guarantors. As
an inducement to the Initial Purchasers to enter into the Purchase Agreement,
the Company and the Subsidiary Guarantors have agreed to provide to the Initial
Purchasers and their direct and indirect transferees the registration rights set
forth in this Agreement. The execution and delivery of this Agreement is a
condition to the closing under the Purchase Agreement.

In consideration of the foregoing, the parties hereto agree as follows:

1.       Definitions.

         As used in this Agreement, the following terms shall have the following
meanings:

         "Closing Date" shall mean the Closing Date as defined in the Purchase
Agreement.

         "Company" shall have the meaning set forth in the preamble and shall
also include the Company's successors.

         "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended from time to time.

         "Exchange Dates" shall have the meaning set forth in Section 2(a)(ii)
hereof.

         "Exchange Offer" shall mean the exchange offer by the Company and the
Subsidiary Guarantors of Exchange Securities for Registrable Securities pursuant
to Section 2(a) hereof.

         "Exchange Offer Registration" shall mean a registration under the
Securities Act effected pursuant to Section 2(a) hereof.

         "Exchange Offer Registration Statement" shall mean an exchange offer
registration statement on Form S-4 (or, if applicable, on another appropriate
form) and all amendments and supplements to such registration statement, in

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each case including the Prospectus contained therein, all exhibits thereto and
any document incorporated by reference therein.

         "Exchange Securities" shall mean senior notes issued by the Company and
guaranteed by the Subsidiary Guarantors under the Indenture containing terms
identical to the Securities (except that the Exchange Securities will not be
subject to restrictions on transfer or to any increase in annual interest rate
for failure to comply with this Agreement) and to be offered to Holders of
Securities in exchange for Securities pursuant to the Exchange Offer.

         "Subsidiary Guarantors" shall have the meaning set forth in the
preamble and shall also include any Subsidiary Guarantor's successors.

         "Holders" shall mean the Initial Purchasers, for so long as they own
any Registrable Securities, and each of their successors, assigns and direct and
indirect transferees who become owners of Registrable Securities under the
Indenture; provided that for purposes of Sections 4 and 5 of this Agreement, the
term "Holders" shall include Participating Broker-Dealers.

         "Initial Purchasers" shall have the meaning set forth in the preamble.

         "Indenture" shall mean the Indenture relating to the Securities dated
as of November 14, 2001 among the Company, the Subsidiary Guarantors and U.S.
Bank N.A., as trustee, and as the same may be amended from time to time in
accordance with the terms thereof.

         "Majority Holders" shall mean the Holders of a majority of the
aggregate principal amount of outstanding Registrable Securities; provided that
whenever the consent or approval of Holders of a specified percentage of
Registrable Securities is required hereunder, Registrable Securities owned
directly or indirectly by the Company shall not be counted in determining
whether such consent or approval was given by the Holders of such required
percentage or amount.

         "Participating Broker-Dealers" shall have the meaning set forth in
Section 4(a) hereof.

         "Person" shall mean an individual, partnership, limited liability
company, corporation, trust or unincorporated organization, or a government or
agency or political subdivision thereof.

         "Purchase Agreement" shall have the meaning set forth in the preamble.

         "Prospectus" shall mean the prospectus included in a Registration
Statement, including any preliminary prospectus, and any such prospectus as
amended or supplemented by any prospectus supplement, including a prospectus
supplement with respect to the terms of the offering of any portion of the
Registrable Securities covered by a Shelf Registration Statement, and by all

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other amendments and supplements to such prospectus, and in each case including
any document incorporated by reference therein.

         "Registrable Securities" shall mean the Securities; provided that the
Securities shall cease to be Registrable Securities upon the earlier to occur of
(i) when a Registration Statement with respect to such Securities has been
declared effective under the Securities Act and such Securities have been
exchanged or disposed of pursuant to such Registration Statement, (ii) when such
Securities have been sold pursuant to Rule 144(k) (or any similar provision then
in force, but not Rule 144A) under the Securities Act or (iii) when such
Securities cease to be outstanding.

         "Registration Expenses" shall mean any and all expenses incident to
performance of or compliance by the Company and the Subsidiary Guarantors with
this Agreement, including without limitation: (i) all SEC, stock exchange or
National Association of Securities Dealers, Inc. registration and filing fees,
(ii) all fees and expenses incurred in connection with compliance with state
securities or blue sky laws (including reasonable fees and disbursements of
counsel for any underwriters or Holders in connection with blue sky
qualification of any Exchange Securities or Registrable Securities), (iii) all
expenses of any Persons in preparing or assisting in preparing, word processing,
printing and distributing any Registration Statement, any Prospectus, any
amendments or supplements thereto, any underwriting agreements, securities sales
agreements and other documents relating to the performance of and compliance
with this Agreement, (iv) all rating agency fees, (v) all fees and disbursements
relating to the qualification of the Indenture under applicable securities laws,
(vi) the fees and disbursements of the Trustee and its counsel, (vii) the fees
and disbursements of counsel for the Company and the Subsidiary Guarantors and,
in the case of a Shelf Registration Statement, the fees and disbursements of one
counsel for the Holders (which counsel shall be selected by the Majority Holders
and which counsel may also be counsel for the Initial Purchasers) and (viii) the
fees and disbursements of the independent public accountants of the Company and
the Subsidiary Guarantors, including the expenses of any special audits or
"comfort" letters required by or incident to such performance and compliance,
but excluding fees and expenses of counsel to the underwriters (other than fees
and expenses set forth in clause (ii) above) or the Holders and underwriting
discounts and commissions and transfer taxes, if any, relating to the sale or
disposition of Registrable Securities by a Holder.

         "Registration Statement" shall mean any registration statement of the
Company and the Subsidiary Guarantors that covers any of the Exchange Securities
or Registrable Securities pursuant to the provisions of this Agreement and all
amendments and supplements to any such registration statement, including
post-effective amendments, in each case including the Prospectus contained
therein, all exhibits thereto and any document incorporated by reference
therein.

         "SEC" shall mean the Securities and Exchange Commission.

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         "Securities Act" shall mean the Securities Act of 1933, as amended from
time to time.

         "Shelf Registration" shall mean a registration effected pursuant to
Section 2(b) hereof.

         "Shelf Registration Statement" shall mean a "shelf" registration
statement of the Company and the Subsidiary Guarantors that covers all the
Registrable Securities (but no other securities unless approved by the Holders
whose Registrable Securities are covered by such Shelf Registration Statement)
on an appropriate form under Rule 415 under the Securities Act, or any similar
rule that may be adopted by the SEC, and all amendments and supplements to such
registration statement, including post-effective amendments, in each case
including the Prospectus contained therein, all exhibits thereto and any
document incorporated by reference therein.

         "Trust Indenture Act" shall have the meaning set forth in Section 3(I)
hereof.

         "Trustee" shall mean the trustee with respect to the Securities under
the Indenture.

         "Underwriter" shall have the meaning set forth in Section 3 hereof.

         "Underwritten Registration" or "Underwritten Offering" shall mean a
registration in which Registrable Securities are sold to an Underwriter for
reoffering to the public.

2.       Registration Under the Securities Act.

         (a) To the extent not prohibited by any applicable law or applicable
interpretations of the Staff of the SEC, the Company and the Subsidiary
Guarantors shall use their reasonable best efforts to (i) cause to be filed an
Exchange Offer Registration Statement covering an offer to the Holders to
exchange all the Registrable Securities for Exchange Securities and (ii) have
such Registration Statement remain effective until the closing of the Exchange
Offer. The Company and the Subsidiary Guarantors shall commence the Exchange
Offer promptly after the Exchange Offer Registration Statement is declared
effective by the SEC and use their reasonable best efforts to complete the
Exchange Offer within 225 days after issuance. The Company and the Subsidiary
Guarantors shall commence the Exchange Offer by mailing the related exchange
offer Prospectus and accompanying documents to each Holder stating, in addition
to such other disclosures as are required by applicable law:

(i)      that the Exchange Offer is being made pursuant to this Agreement and
         that all Registrable Securities validly tendered will be accepted for
         exchange;

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(ii)     the dates of acceptance for exchange (which shall be a period of at
         least 20 business days from the date such notice is mailed) (the
         "Exchange Dates");

(iii)    that any Registrable Security not tendered will remain outstanding and
         continue to accrue interest but will not retain any rights under this
         Agreement;

(iv)     that Holders electing to have a Registrable Security exchanged pursuant
         to the Exchange Offer will be required to surrender such Registrable
         Security, together with the enclosed letters of transmittal, to the
         institution and at the address (located in the Borough of Manhattan,
         The City of New York) and in the manner specified in the notice, prior
         to the close of business on the last Exchange Date; and

(v)      that Holders will be entitled to withdraw their election, not later
         than the close of business on the last Exchange Date, by sending to the
         institution and at the address (located in the Borough of Manhattan,
         The City of New York) specified in the notice, a telegram, telex,
         facsimile transmission or letter setting forth the name of such Holder,
         the principal amount of Registrable Securities delivered for exchange
         and a statement that such Holder is withdrawing its election to have
         such Securities exchanged.

         As soon as practicable after the last Exchange Date, the Company and
the Subsidiary Guarantors shall:

(i)      accept for exchange Registrable Securities or portions thereof tendered
         and not validly withdrawn pursuant to the Exchange Offer; and

(ii)     deliver, or cause to be delivered, to the Trustee for cancellation all
         Registrable Securities or portions thereof so accepted for exchange by
         the Company and issue, and cause the Trustee to promptly authenticate
         and deliver to each Holder, Exchange Securities equal in principal
         amount to the principal amount of the Registrable Securities
         surrendered by such Holder.

         The Company and the Subsidiary Guarantors shall use their reasonable
best efforts to complete the Exchange Offer as provided above and shall comply
with the applicable requirements of the Securities Act, the Exchange Act and
other applicable laws and regulations in connection with the Exchange Offer. The
Exchange Offer shall not be subject to any conditions, other than that the
Exchange Offer does not violate any applicable law or applicable interpretations
of the Staff of the SEC. The Company shall inform the Initial Purchasers of the
names and addresses of the Holders to whom the Exchange Offer is made, and the
Initial Purchasers shall have the right, subject to applicable law, to contact
such Holders and otherwise facilitate the tender of Registrable Securities in
the Exchange Offer.

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         (b) In the event that (i) the Company and the Subsidiary Guarantors
determine that the Exchange Offer Registration provided for in Section 2(a)
above is not available or may not be completed as soon as practicable after the
last Exchange Date because it would violate any applicable law or applicable
interpretations of the Staff of the SEC, (ii) the Exchange Offer is not for any
other reason completed by 225 days after the Closing Date or (iii) the Exchange
Offer has been completed and in the reasonable opinion of counsel for the
Initial Purchasers a Registration Statement must be filed and a Prospectus must
be delivered by the Initial Purchasers in connection with any offering or sale
of Registrable Securities, the Company and the Subsidiary Guarantors shall use
their reasonable best efforts to cause to be filed as soon as practicable after
such determination, date or notice of such opinion of counsel is given to the
Company, as the case may be, a Shelf Registration Statement providing for the
sale of all the Registrable Securities by the Holders thereof and to have such
Shelf Registration Statement declared effective by the SEC.

         In the event that the Company and the Subsidiary Guarantors are
required to file a Shelf Registration Statement solely as a result of the
matters referred to in clause (iii) of the preceding sentence, the Company and
the Subsidiary Guarantors shall use their reasonable best efforts to file and
have declared effective by the SEC both an Exchange Offer Registration Statement
pursuant to Section 2(a) with respect to all Registrable Securities and a Shelf
Registration Statement (which may be a combined Registration Statement with the
Exchange Offer Registration Statement) with respect to offers and sales of
Registrable Securities held by the Initial Purchasers after completion of the
Exchange Offer. The Company and the Subsidiary Guarantors agree to use their
reasonable best efforts to keep the Shelf Registration Statement continuously
effective until the earlier of the expiration of the holding period referred to
in Rule 144(k) under the Securities Act with respect to the Registrable
Securities and such shorter period that will terminate when all the Registrable
Securities covered by the Shelf Registration Statement have been sold pursuant
to the Shelf Registration Statement. Subject to the other provisions herein set
forth, the Company and the Subsidiary Guarantors further agree to supplement or
amend the Shelf Registration Statement and the related Prospectus if required by
the rules, regulations or instructions applicable to the registration form used
by the Company for such Shelf Registration Statement or by the Securities Act or
by any other rules and regulations thereunder for shelf registration or if
reasonably requested by a Holder of Registrable Securities with respect to
information relating to such Holder, and to use their reasonable best efforts to
cause any such amendment to become effective and such Shelf Registration
Statement and Prospectus to become usable as soon as thereafter practicable. The
Company and the Subsidiary Guarantors agree to furnish to the Holders of
Registrable Securities copies of any such supplement or amendment promptly after
its being used or filed with the SEC.

         (c)      The Company and the Subsidiary Guarantors shall pay all
Registration Expenses in connection with the registration pursuant to Section
2(a) and Section 2(b) hereof. Each Holder shall pay all underwriting discounts

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and commissions and transfer taxes, if any, relating to the sale or disposition
of such Holder's Registrable Securities pursuant to the Shelf Registration
Statement.

         (d) An Exchange Offer Registration Statement pursuant to Section 2(a)
hereof or a Shelf Registration Statement pursuant to Section 2(b) hereof will
not be deemed to have become effective unless it has been declared effective by
the SEC; provided that if, after it has been declared effective, the offering of
Registrable Securities pursuant to a Shelf Registration Statement is interfered
with by any stop order, injunction or other order or requirement of the SEC or
any court or other governmental or regulatory agency or body, such Registration
Statement will not be deemed effective during the period of such interference
until the offering of Registrable Securities pursuant to such Registration
Statement may legally resume.

         As provided in the Indenture, in the event that either the Exchange
Offer is not completed or the Shelf Registration Statement, if required hereby,
is not declared effective on or prior to the 225th day following the Closing
Date, then from such date, the interest rate on the Securities will be increased
by 0.25% per annum with an additional 0.25% per annum increase each 90 days
thereafter, up to a maximum increase of 1.00% per annum until the Exchange Offer
is completed or the Shelf Registration Statement, if required hereby, is
declared effective by the SEC or the Securities become freely tradable under the
Securities Act.

         In the event that the Shelf Registration Statement, if required hereby,
has been declared effective and such Shelf Registration Statement ceases to be
effective at any time during the period during which such Shelf Registration
Statement is required to be effective pursuant to Section 2(b) hereof, the
interest rate on the Securities will be increased by 0.25% per annum with an
additional 0.25% per annum increase each 90 days thereafter, up to a maximum
increase of 1.00% per annum, commencing on the day after such Shelf Registration
Statement ceases to be effective until the Shelf Registration Statement (as
amended or supplemented, if necessary) again becomes effective. For the purposes
of this paragraph, each period during which such Shelf Registration Statement is
required to be effective and is not effective shall be added to all such prior
periods in the previous consecutive twelve months in order to determine the
interest rate on the Securities.

         (e) Without limiting the remedies available to the Initial Purchasers
and the Holders, the Company and the Subsidiary Guarantors acknowledge that any
failure by the Company or the Subsidiary Guarantors to comply with their
obligations under Section 2(a) and Section 2(b) hereof may result in material
irreparable injury to the Initial Purchasers or the Holders for which there is
no adequate remedy at law, that it will not be possible to measure damages for
such injuries precisely and that, in the event of any such failure, the Initial
Purchasers or any Holder may obtain such relief as may be required to
specifically enforce the Company's and the Subsidiary Guarantors' obligations
under Section 2(a)

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and Section 2(b) hereof (it being understood that any damages recovered shall
not include damages beyond those described in this Section (e) and Section
2(d)).

3.       Registration Procedures.

         In connection with their obligations pursuant to Section 2(a) and
Section 2(b) hereof, the Company and the Subsidiary Guarantors shall as
expeditiously as possible:

         (a) prepare and file with the SEC a Registration Statement on the
appropriate form under the Securities Act, which form (x) shall be selected by
the Company and the Subsidiary Guarantors, (y) shall, in the case of a Shelf
Registration, be available for the sale of the Registrable Securities by the
selling Holders thereof and (z) shall comply as to form in all material respects
with the requirements of the applicable form and include all financial
statements required by the SEC to be filed therewith; and use their reasonable
best efforts to cause such Registration Statement to become effective and remain
effective in accordance with Section 2 hereof;

         (b) prepare and file with the SEC such amendments and post-effective
amendments to each Registration Statement as may be necessary to keep such
Registration Statement effective for the applicable period and cause each
Prospectus to be supplemented by any required prospectus supplement and, as so
supplemented, to be filed pursuant to Rule 424 under the Securities Act; and
keep each Prospectus current during the period described in Section 4(3) of and
Rule 174 under the Securities Act that is applicable to transactions by brokers
or dealers with respect to the Registrable Securities or Exchange Securities;

         (c) in the case of a Shelf Registration, furnish to each Holder of
Registrable Securities, to counsel for the Initial Purchasers, to counsel for
such Holders and to each Underwriter of an Underwritten Offering of Registrable
Securities, if any, without charge, as many copies of each Prospectus, including
each preliminary Prospectus, and any amendment or supplement thereto and such
other documents as such Holder or Underwriter may reasonably request, in order
to facilitate the sale or other disposition of the Registrable Securities
thereunder; and the Company and the Subsidiary Guarantors consent to the use of
such Prospectus and any amendment or supplement thereto in accordance with
applicable law by each of the selling Holders of Registrable Securities and any
such Underwriters in connection with the offering and sale of the Registrable
Securities covered by and in the manner described in such Prospectus or any
amendment or supplement thereto in accordance with applicable law;

         (d) use their reasonable best efforts to register or qualify the
Registrable Securities under all applicable state securities or blue sky laws of
such jurisdictions as any Holder of Registrable Securities covered by a
Registration Statement shall reasonably request in writing by the time the
applicable Registration Statement is declared effective by the SEC; cooperate

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with the Holders in connection with any filings required to be made with the
National Association of Securities Dealers, Inc.; and do any and all other acts
and things that may be reasonably necessary or advisable to enable each Holder
to complete the disposition in each such jurisdiction of the Registrable
Securities owned by such Holder; provided that neither the Company nor any
Subsidiary Guarantor shall be required to (i) qualify as a foreign corporation
or as a dealer in securities in any jurisdiction where it would not otherwise be
required to qualify but for this Section 3(d), (ii) take any action that would
subject it to service of process or (iii) subject itself to taxation in any such
jurisdiction if it is not so subject;

         (e) in the case of a Shelf Registration, notify each Holder of
Registrable Securities, counsel for such Holders and counsel for the Initial
Purchasers promptly and, if requested by any such Holder or counsel, confirm
such advice in writing (i) when a Registration Statement has become effective
and when any post-effective amendment thereto has been filed and becomes
effective, (ii) of any request by the SEC or any state securities authority for
amendments and supplements to a Registration Statement and Prospectus or for
additional information after the Registration Statement has become effective,
(iii) of the issuance by the SEC or any state securities authority of any stop
order suspending the effectiveness of a Registration Statement or the initiation
of any proceedings for that purpose, (iv) if, between the effective date of a
Registration Statement and the closing of any sale of Registrable Securities
covered thereby, the representations and warranties of the Company or any
Subsidiary Guarantor contained in any underwriting agreement, securities sales
agreement or other similar agreement, if any, relating to an offering of such
Registrable Securities cease to be true and correct in all material respects or
if the Company or any Subsidiary Guarantor receives any notification with
respect to the suspension of the qualification of the Registrable Securities for
sale in any jurisdiction or the initiation of any proceeding for such purpose,
(v) of the happening of any event during the period a Shelf Registration
Statement is effective that makes any statement made in such Registration
Statement or the related Prospectus untrue in any material respect or that
requires the making of any changes in such Registration Statement or Prospectus
in order to make the statements therein not misleading and (vi) of any
determination by the Company or any Subsidiary Guarantor that a post-effective
amendment to a Registration Statement would be appropriate;

         (f) make every reasonable effort to obtain the withdrawal of any order
suspending the effectiveness of a Registration Statement at the earliest
possible moment and provide reasonably prompt notice to each Holder of the
withdrawal of any such order;

         (g) in the case of a Shelf Registration, furnish to each Holder of
Registrable Securities, without charge, at least one conformed copy of each
Registration Statement and any post-effective amendment thereto (without any
document incorporated therein by reference or exhibits thereto, unless requested
in writing by any such holder);

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         (h) in the case of a Shelf Registration, cooperate with the selling
Holders of Registrable Securities to facilitate the timely preparation and
delivery of certificates representing Registrable Securities to be sold and not
bearing any restrictive legends and enable such Registrable Securities to be in
such denominations and registered in such names (consistent with the provisions
of the Indenture) as the selling Holders may reasonably request at least one
business day prior to the closing of any sale of Registrable Securities;

         (i) in the case of a Shelf Registration, upon the occurrence of any
event contemplated by Section 3(e)(v) hereof, use their reasonable best efforts,
subject to Section 3(o) herein, to prepare and file with the SEC a supplement or
post-effective amendment to a Registration Statement or the related Prospectus
or any document incorporated therein by reference or file any other required
document so that, as thereafter delivered to purchasers of the Registrable
Securities, such Prospectus will not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements therein,
in the light of the circumstances under which they were made, not misleading;
and the Company and the Subsidiary Guarantors shall notify the Holders of
Registrable Securities to suspend use of the Prospectus as promptly as
practicable after the occurrence of such an event, and such Holders hereby agree
to suspend use of the Prospectus until the Company and the Subsidiary Guarantors
have amended or supplemented the Prospectus to correct such misstatement or
omission or until the Company and the Subsidiary Guarantors notify the Holders
that the Prospectus may once again be used;

         (j) a reasonable time prior to the filing of any Registration
Statement, any Prospectus, any amendment to a Registration Statement or
amendment or supplement to a Prospectus or of any document that is to be
incorporated by reference into a Registration Statement or a Prospectus after
initial filing of a Registration Statement, provide copies of such document to
the Initial Purchasers and their counsel (and, in the case of a Shelf
Registration Statement, to the Holders of Registrable Securities and their
counsel) and, in the event that an Initial Purchaser is participating in the
Exchange Offer, the Company shall use its reasonable best efforts to reflect in
each such document, when so filed, such comments as such participating Initial
Purchaser reasonably may propose (and in the case of a Shelf Registration
Statement, as the participating Holders of Registrable Securities reasonably may
propose) and make such of the representatives of the Company and the Subsidiary
Guarantors as shall be reasonably requested by the participating Initial
Purchasers or their counsel (and, in the case of a Shelf Registration Statement,
the participating Holders of Registrable Securities or their counsel) available
for discussion of such document; and the Company and the Subsidiary Guarantors
shall not at any time file or make any amendment to the Registration Statement,
any Prospectus or any amendment of or supplement to a Registration Statement or
a Prospectus or any document that is to be incorporated by reference into a
Registration Statement or a Prospectus, of which the participating Initial
Purchasers and their counsel (and, in the case of a Shelf Registration
Statement, the participating Holders of Registrable Securities and their
counsel)

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shall not have previously been advised and furnished a copy or to which the
participating Initial Purchasers or their counsel (and, in the case of a Shelf
Registration Statement, the participating Holders or their counsel) shall
object;

         (k) obtain a CUSIP number for all Exchange Securities or Registrable
Securities, as the case may be, not later than the effective date of a
Registration Statement;

         (I) cause the Indenture to be qualified under the Trust Indenture Act
of 1939, as amended (the "Trust Indenture Act"), in connection with the
registration of the Exchange Securities or Registrable Securities, as the case
may be; cooperate with the Trustee and the Holders to effect such changes to the
Indenture as may be required for the Indenture to be so qualified in accordance
with the terms of the Trust Indenture Act; and execute, and use their reasonable
best efforts to cause the Trustee to execute, all documents as may be required
to effect such changes and all other forms and documents required to be filed
with the SEC to enable the Indenture to be so qualified in a timely manner;

         (m) in the case of a Shelf Registration, make available for inspection
by a representative of the Holders of the Registrable Securities, any
Underwriter participating in any disposition pursuant to such Shelf Registration
Statement, and attorneys and accountants designated by the Holders, at
reasonable times and in a reasonable manner, all financial and other records,
pertinent documents and properties of the Company and the Subsidiary Guarantors,
and cause the respective officers, directors and employees of the Company and
the Subsidiary Guarantors to supply all information reasonably requested by any
such representative, Underwriter, attorney or accountant in connection with a
Shelf Registration Statement;

         (n) if reasonably requested by any Holder of Registrable Securities
covered by a Registration Statement or required by law, promptly incorporate in
a Prospectus supplement or post-effective amendment such information with
respect to such Holder as such Holder reasonably requests to be included therein
and make all required filings of such Prospectus supplement or such
post-effective amendment as soon as the Company has received notification of the
matters to be incorporated in such filing; and

         (o) in the case of a Shelf Registration, enter into such customary
agreements and take all such other actions in connection therewith (including
those requested by the Holders of a majority of the Registrable Securities being
sold) in order to expedite or facilitate the disposition of such Registrable
Securities including, but not limited to, an Underwritten Offering and in such
connection, (i) to the extent possible, make such representations and warranties
to the Holders and any Underwriters of such Registrable Securities with respect
to the business of the Company and its subsidiaries, the Registration Statement,
Prospectus and documents incorporated by reference or deemed incorporated by
reference, if any, in each case, in form, substance and scope as are customarily
made by issuers to underwriters in underwritten offerings and

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confirm the same if and when requested, (ii) obtain opinions of counsel to the
Company and the Subsidiary Guarantors (which counsel and opinions, in form,
scope and substance, shall be reasonably satisfactory to the Holders and such
Underwriters and their respective counsel) addressed to each selling Holder and
Underwriter of Registrable Securities, covering the matters customarily covered
in opinions requested in underwritten offerings, (iii) obtain "comfort" letters
from the independent certified public accountants of the Company and the
Subsidiary Guarantors (and, if necessary, any other certified public accountant
of any subsidiary of the Company or any Subsidiary Guarantor, or of any business
acquired by the Company or any Subsidiary Guarantor for which financial
statements and financial data are or are required to be included in the
Registration Statement) addressed to each selling Holder and Underwriter of
Registrable Securities, such letters to be in customary form and covering
matters of the type customarily covered in "comfort" letters in connection with
underwritten offerings and (iv) deliver such documents and certificates as may
be reasonably requested by the Holders of a majority in principal amount of the
Registrable Securities being sold or the Underwriters, and which are customarily
delivered in underwritten offerings, to evidence the continued validity of the
representations and warranties of the Company and the Subsidiary Guarantors made
pursuant to clause (i) above and to evidence compliance with any customary
conditions contained in an underwriting agreement.

         In the case of a Shelf Registration Statement, the Company may require
each Holder of Registrable Securities to furnish to the Company such information
regarding such Holder and the proposed distribution by such Holder of such
Registrable Securities as the Company and the Subsidiary Guarantors may from
time to time reasonably request in writing, and the Company may exclude from
such registration the Registrable Securities of any Holder that fails to furnish
such information within a reasonable time after receiving such request.

         In the case of a Shelf Registration Statement, each Holder of
Registrable Securities agrees that, upon receipt of any notice from the Company
and the Subsidiary Guarantors of the happening of any event of the kind
described in Section 3(e)(v) hereof, such Holder will forthwith discontinue
disposition of Registrable Securities pursuant to a Registration Statement until
such Holder's receipt of the copies of the supplemented or amended Prospectus
contemplated by Section 3(i) hereof or of notice from the Company and the
Subsidiary Guarantors that the Prospectus may once again be used and, if so
directed by the Company and the Subsidiary Guarantors, such Holder will deliver
to the Company and the Subsidiary Guarantors all copies in its possession, other
than permanent file copies then in such Holder's possession, of the Prospectus
covering such Registrable Securities that is current at the time of receipt of
such notice.

         If the Company and the Subsidiary Guarantors shall give any such notice
to suspend the disposition of Registrable Securities pursuant to a Registration
Statement, the Company and the Subsidiary Guarantors shall extend the period
during which the Registration Statement shall be maintained effective pursuant

<PAGE>
                                                                              13

to this Agreement by the number of days during the period from and including the
date of the giving of such notice to and including the date when the Holders
shall have received copies of the supplemented or amended Prospectus necessary
to resume such dispositions. Notwithstanding the foregoing, the Company and the
Subsidiary Guarantors shall not be required to amend or supplement a Shelf
Registration Statement, any related Prospectus or any document incorporated
therein by reference, in the event that, and for a period not to exceed an
aggregate of 60 days in any calendar year if, (i) an event occurs and is
continuing as a result of which a Shelf Registration would, in the Company's
good faith judgment, contain an untrue statement of a material fact or omit to
state a material fact necessary in order to make the statements therein, in
light of the circumstances under which they were made, not misleading; and
(ii)(a) the Company determines in its good faith judgment that the disclosure of
such event as such time would have a material adverse effect on the business
operations of the Company or (b) the disclosure otherwise relates to a pending
material business transaction that has not yet been publicly disclosed.

         The Holders of Registrable Securities covered by a Shelf Registration
Statement who desire to do so may sell such Registrable Securities in an
Underwritten Offering. In any such Underwritten Offering, the investment banker
or investment bankers and manager or managers (the "Underwriters") that will
administer the offering will be selected by the Majority Holders of the
Registrable Securities included in such offering.

4.       Participation of Broker-Dealers in Exchange Offer.

         (a) The Staff of the SEC has taken the position that any broker-dealer
that receives Exchange Securities for its own account in the Exchange Offer in
exchange for Securities that were acquired by such broker-dealer as a result of
market-making or other trading activities (a "Participating Broker-Dealer") may
be deemed to be an "underwriter" within the meaning of the Securities Act and
must deliver a prospectus meeting the requirements of the Securities Act in
connection with any resale of such Exchange Securities.

         The Company and the Subsidiary Guarantors understand that it is the
Staff's position that if the Prospectus contained in the Exchange Offer
Registration Statement includes a plan of distribution containing a statement to
the above effect and the means by which Participating Broker-Dealers may resell
the Exchange Securities, without naming the Participating Broker-Dealers or
specifying the amount of Exchange Securities owned by them, such Prospectus may
be delivered by Participating Broker-Dealers to satisfy their prospectus
delivery obligation under the Securities Act in connection with resales of
Exchange Securities for their own accounts, so long as the Prospectus otherwise
meets the requirements of the Securities Act.

         (b) In light of the above, notwithstanding the other provisions of this
Agreement, the Company and the Subsidiary Guarantors agree that the

<PAGE>
                                                                              14

provisions of this Agreement as they relate to a Shelf Registration shall also
apply to an Exchange Offer Registration to the extent, and with such reasonable
modifications thereto as may be reasonably requested by the Initial Purchasers
or by one or more Participating Broker-Dealers, in each case as provided in
clause (ii) below, in order to expedite or facilitate the disposition of any
Exchange Securities by Participating Broker-Dealers consistent with the
positions of the Staff recited in Section 4(a) above; provided that:

(i)      the Company and the Subsidiary Guarantors shall not be required to
         amend or supplement the Prospectus contained in the Exchange Offer
         Registration Statement, as would otherwise be contemplated by Section
         3(i), for a period exceeding 180 days after the last Exchange Date (as
         such period may be extended pursuant to the penultimate paragraph of
         Section 3 of this Agreement) and Participating Broker-Dealers shall not
         be authorized by the Company and the Subsidiary Guarantors to deliver
         and shall not deliver such Prospectus after such period in connection
         with the resales contemplated by this Section 4; and

(ii)     the application of the Shelf Registration procedures set forth in
         Section 3 of this Agreement to an Exchange Offer Registration, to the
         extent not required by the positions of the Staff of the SEC or the
         Securities Act and the rules and regulations thereunder, will be in
         conformity with the reasonable request to the Company by the Initial
         Purchasers or with the reasonable request in writing to the Company by
         one or more broker-dealers who certify to the Initial Purchasers and
         the Company in writing that they anticipate that they will be
         Participating Broker-Dealers; and provided, further, that in connection
         with such application of the Shelf Registration procedures set forth in
         Section 3 to an Exchange Offer Registration, the Company and the
         Subsidiary Guarantors shall be obligated (x) to deal only with one
         entity representing the Participating Broker-Dealers, which shall be
         J.P. Morgan Securities Inc. unless it elects not to act as such
         representative, (y) to pay the fees and expenses of only one counsel
         representing the Participating Broker-Dealers, which shall be counsel
         to the Initial Purchasers unless such counsel elects not to so act and
         (z) to cause to be delivered only one, if any, "comfort" letter with
         respect to the Prospectus in the form existing on the last Exchange
         Date and with respect to each subsequent amendment or supplement, if
         any, effected during the period specified in clause (i) above.

         (c) The Initial Purchasers shall have no liability to the Company, any
Subsidiary Guarantor or any Holder with respect to any request that it may make
pursuant to Section 4(b) above.

5.       Indemnification and Contribution.

         (a) The Company and each Subsidiary Guarantor, jointly and severally,
agree to indemnify and hold harmless each Initial Purchaser and each Holder,
their respective affiliates and each Person, if any, who controls any Initial

<PAGE>
                                                                              15

Purchaser or any Holder within the meaning of Section 15 of the Securities Act
or Section 20 of the Exchange Act, from and against any and all losses, claims,
damages and liabilities (including, without limitation, legal fees and other
expenses incurred in connection with any suit, action or proceeding or any claim
asserted), joint or several, caused by any untrue statement or alleged untrue
statement of a material fact contained in any Registration Statement or any
Prospectus, or caused by any omission or alleged omission to state therein a
material fact required to be stated therein or necessary in order to make the
statements therein, in the light of the circumstances under which they were
made, not misleading, except insofar as such losses, claims, damages or
liabilities are caused by any untrue statement or omission or alleged untrue
statement or omission made in reliance upon and in conformity with any
information relating to any Initial Purchaser or any Holder furnished to the
Company in writing through J.P. Morgan Securities Inc. or any selling Holder
expressly for use therein; provided, however, that with respect to any such
untrue statement or alleged untrue statement in or omission from or alleged
omission from any preliminary prospectus, the indemnity agreement contained in
this Section 5(a) shall not inure to the benefit of any Holder from whom the
Person asserting any such loss, claim, damage, liability or action received
Securities or Exchange Securities to the extent such loss, claim, damage,
liability or action results from the fact that both (A) a copy of the final
prospectus was not sent or given to such person at or prior to the written
confirmation of the sale of such Securities or Exchange Securities to such
person and (B) the untrue statement or alleged untrue statement in or omission
from or alleged omission from the preliminary prospectus was corrected in the
final prospectus unless, in either case, such failure to deliver the final
prospectus was a result of non- compliance by the Company with Section 3(c) or
(g). In connection with any Underwritten Offering permitted by Section 3, the
Company and the Subsidiary Guarantors will also indemnify the Holders, if any,
selling brokers, dealers and similar securities industry professionals
participating in the distribution, their respective affiliates and each Person
who controls such Persons (within the meaning of the Securities Act and the
Exchange Act) to the same extent as provided above with respect to the
indemnification of the Holders, if requested in connection with any Registration
Statement.

         (b) Each Holder agrees, severally and not jointly, to indemnify and
hold harmless the Company, the Subsidiary Guarantors, the Initial Purchasers and
the other selling Holders, their respective affiliates, the directors of the
Company and the Subsidiary Guarantors, each officer of the Company and the
Subsidiary Guarantors who signed the Registration Statement and each Person, if
any, who controls the Company, the Subsidiary Guarantors, any Initial Purchaser
and any other selling Holder within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act to the same extent as the indemnity set
forth in paragraph (a) above, but only with respect to any losses, claims,
damages or liabilities caused by any untrue statement or omission or alleged
untrue statement or omission made in reliance upon and in conformity with any
information relating to such Holder furnished to the Company in writing by such
Holder expressly for use in any Registration Statement and any Prospectus.

<PAGE>
                                                                              16

         (c) If any suit, action, proceeding (including any governmental or
regulatory investigation), claim or demand shall be brought or asserted against
any Person in respect of which indemnification may be sought pursuant to either
paragraph (a) or (b) above, such Person (the "Indemnified Person") shall
promptly notify in writing the Person against whom such indemnification may be
sought (the "Indemnifying Person"); provided that the failure to notify the
Indemnifying Person shall not relieve it from any liability that it may have
under this Section 5 except to the extent that it has been materially prejudiced
(through the forfeiture of substantive rights or defenses) by such failure; and
provided, further, that the failure to notify the Indemnifying Person shall not
relieve it from any liability that it may have to an Indemnified Person
otherwise than under this Section 5. If any such proceeding shall be brought or
asserted against an Indemnified Person and it shall have notified the
Indemnifying Person thereof, the Indemnifying Person shall retain counsel
reasonably satisfactory to the Indemnified Person to represent the Indemnified
Person and any others entitled to indemnification pursuant to this Section 5
that the Indemnifying Person may designate in such proceeding and shall pay the
fees and expenses of such counsel related to such proceeding. In any such
proceeding, any Indemnified Person shall have the right to retain its own
counsel, but the fees and expenses of such counsel shall be at the expense of
such Indemnified Person unless (i) the Indemnifying Person and the Indemnified
Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person
has failed within a reasonable time to retain counsel reasonably satisfactory to
the Indemnified Person; (iii) the Indemnified Person shall have reasonably
concluded that there may be legal defenses available to it that are different
from or in addition to those available to the Indemnifying Person; or (iv) the
named parties in any such proceeding (including any impleaded parties) include
both the Indemnifying Person and the Indemnified Person and representation of
both parties by the same counsel would be inappropriate due to actual or
potential differing interests between them. It is understood and agreed that the
Indemnifying Person shall not, in connection with any proceeding or related
proceeding in the same jurisdiction, be liable for the fees and expenses of more
than one separate firm (in addition to any local counsel) for all Indemnified
Persons, and that all such fees and expenses shall be reimbursed as they are
incurred. Any such separate firm (x) for any Initial Purchaser, its affiliates
and any control Persons of such Initial Purchaser shall be designated in writing
by J.P. Morgan Securities Inc., (y) for any Holder, its affiliates and any
control Persons of such Holder shall be designated in writing by the Majority
Holders and (z) in all other cases shall be designated in writing by the
Company. The Indemnifying Person shall not be liable for any settlement of any
proceeding effected without its written consent, but if settled with such
consent or if there be a final judgment for the plaintiff, the Indemnifying
Person agrees to indemnify each Indemnified Person from and against any loss or
liability by reason of such settlement or judgment. Notwithstanding the
foregoing sentence, if at any time an Indemnified Person shall have requested
that an Indemnifying Person reimburse the Indemnified Person for fees and
expenses of counsel as contemplated by this paragraph, the Indemnifying Person
shall be liable for any settlement of any proceeding effected without its
written consent if (i) such settlement is entered into more than 30 days

<PAGE>
                                                                              17

after receipt by the Indemnifying Person of such request and (ii) the
Indemnifying Person shall not have reimbursed the Indemnified Person in
accordance with such request prior to the date of such settlement. No
Indemnifying Person shall, without the written consent of the Indemnified
Person, effect any settlement of any pending or threatened proceeding in respect
of which any Indemnified Person is or could have been a party and
indemnification could have been sought hereunder by such Indemnified Person,
unless such settlement (i) includes an unconditional release of such Indemnified
Person from all liability on claims that are the subject matter of such
proceeding and (ii) does not include any statement as to or any admission of
fault, culpability or a failure to act by or on behalf of any Indemnified
Person.

         (d) If the indemnification provided for in paragraphs (a) and (b) above
is unavailable to an Indemnified Person or insufficient in respect of any
losses, claims, damages or liabilities referred to therein, then each
Indemnifying Person under such paragraph, in lieu of indemnifying such
Indemnified Person thereunder, shall contribute to the amount paid or payable by
such Indemnified Person as a result of such losses, claims, damages or
liabilities (i) in such proportion as is appropriate to reflect the relative
benefits received by the Company and the Subsidiary Guarantors from the offering
of the Securities, on the one hand, and by the Holders from receiving Securities
or Exchange Securities registered under the Securities Act, on the other hand,
or (ii) if the allocation provided by clause (i) is not permitted by applicable
law, in such proportion as is appropriate to reflect not only the relative
benefits referred to in clause (i) but also the relative fault of the Company
and the Subsidiary Guarantors on the one hand and the Holders on the other in
connection with the statements or omissions that resulted in such losses,
claims, damages or liabilities, as well as any other relevant equitable
considerations. The relative fault of the Company and the Subsidiary Guarantors
on the one hand and the Holders on the other shall be determined by reference
to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state a material fact
relates to information supplied by the Company and the Subsidiary Guarantors or
by the Holders and the parties' relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission.

         (e) The Company, the Subsidiary Guarantors and the Holders agree that
it would not be just and equitable if contribution pursuant to this Section 5
were determined by pro rata allocation (even if the Holders were treated as one
entity for such purpose) or by any other method of allocation that does not take
account of the equitable considerations referred to in paragraph (d) above. The
amount paid or payable by an Indemnified Person as a result of the losses,
claims, damages and liabilities referred to in paragraph (d) above shall be
deemed to include, subject to the limitations set forth above, any legal or
other expenses incurred by such Indemnified Person in connection with
investigating or defending any such action or claim. Notwithstanding the
provisions of this Section 5, in no event shall a Holder be required to
contribute any amount in excess of the amount by which the total price at which
the Securities or

<PAGE>
                                                                              18

Exchange Securities sold by such Holder exceeds the amount of any damages that
such Holder has otherwise been required to pay by reason of such untrue or
alleged untrue statement or omission or alleged omission. No Person guilty of
fraudulent misrepresentation (within the meaning of Section 11 (f) of the
Securities Act) shall be entitled to contribution from any Person who was not
guilty of such fraudulent misrepresentation.

         (f) The remedies provided for in this Section 5 are not exclusive and
shall not limit any rights or remedies that may otherwise be available to any
Indemnified Person at law or in equity.

         (g) The indemnity and contribution provisions contained in this Section
5 shall remain operative and in full force and effect regardless of (i) any
termination of this Agreement, (ii) any investigation made by or on behalf of
the Initial Purchasers, any Holder or any Person controlling any Initial
Purchaser or any Holder, or by or on behalf of the Company, the Subsidiary
Guarantors or the officers or directors of or any Person controlling the Company
or the Subsidiary Guarantors, (iii) acceptance of any of the Exchange Securities
and (iv) any sale of Registrable Securities pursuant to a Shelf Registration
Statement.

6.       Miscellaneous.

         (a) No Inconsistent Agreements. The Company and the Subsidiary
Guarantors represent, warrant and agree that (i) the rights granted to the
Holders hereunder do not in any way conflict with and are not inconsistent with
the rights granted to the holders of any other outstanding securities issued or
guaranteed by the Company or any Subsidiary Guarantor under any other agreement
and (ii) neither the Company nor any Subsidiary Guarantor has entered into, or
on or after the date of this Agreement will enter into, any agreement that is
inconsistent with the rights granted to the Holders of Registrable Securities in
this Agreement or otherwise conflicts with the provisions hereof.

         (b) Amendments and Waivers. The provisions of this Agreement, including
the provisions of this sentence, may not be amended, modified or supplemented,
and waivers or consents to departures from the provisions hereof may not be
given unless the Company and the Subsidiary Guarantors have obtained the written
consent of Holders of at least a majority in aggregate principal amount of the
outstanding Registrable Securities affected by such amendment, modification,
supplement, waiver or consent; provided that no amendment, modification,
supplement, waiver or consent to any departure from the provisions of Section 5
hereof shall be effective as against any Holder of Registrable Securities unless
consented to in writing by such Holder.

         (c) Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand-delivery, registered first
class mail, telex, telecopier, or any courier guaranteeing overnight delivery
(i) if to a Holder, at the most current address given by such Holder to the
Company by means of a notice given in accordance with the provisions of this
Section 6(c),

<PAGE>
                                                                              19

which address initially is, with respect to the Initial Purchasers, the address
set forth in the Purchase Agreement; and (ii) if to the Company and the
Subsidiary Guarantors, initially at the Company's address set forth in the
Purchase Agreement and thereafter at such other address, notice of which is
given in accordance with the provisions of this Section 6(c). All such notices
and communications shall be deemed to have been duly given: at the time
delivered by hand, if personally delivered; five business days after being
deposited in the mail, postage prepaid, if mailed; when answered back, if
telexed; when receipt is acknowledged, if telecopied; and on the next business
day if timely delivered to an air courier guaranteeing overnight delivery.
Copies of all such notices, demands or other communications shall be
concurrently delivered by the Person giving the same to the Trustee, at the
address specified in the Indenture.

         (d) Successors and Assigns. This Agreement shall inure to the benefit
of and be binding upon the successors, assigns and transferees of each of the
parties, including, without limitation and without the need for an express
assignment, subsequent Holders; provided that nothing herein shall be deemed to
permit any assignment, transfer or other disposition of Registrable Securities
in violation of the terms of the Purchase Agreement. If any transferee of any
Holder shall acquire Registrable Securities in any manner, whether by operation
of law or otherwise, such Registrable Securities shall be held subject to all
the terms of this Agreement, and by taking and holding such Registrable
Securities such Person shall be conclusively deemed to have agreed to be bound
by and to perform all of the terms and provisions of this Agreement and such
Person shall be entitled to receive the benefits hereof. The Initial Purchasers
(in their capacity as Initial Purchasers) shall have no liability or obligation
to the Company or the Subsidiary Guarantors with respect to any failure by a
Holder to comply with, or any breach by any Holder of, any of the obligations of
such Holder under this Agreement.

         (e) Purchases and Sales of Securities. Until the issuance of the
Exchange Securities or the effectiveness of the Shelf Registration Statement, as
the case may be, the Company and the Subsidiary Guarantors will not, and will
not permit any of its affiliates (as defined in Rule 144 under the Securities
Act) to, resell any of the Securities that have been acquired by any of them,
except for Securities purchased by the Company or any of its affiliates and
resold in a transaction registered under the Securities Act.

         (f) Third Party Beneficiaries. Each Holder shall be a third party
beneficiary to the agreements made hereunder between the Company and the
Subsidiary Guarantors, on the one hand, and the Initial Purchasers, on the other
hand, and shall have the right to enforce such agreements directly to the extent
it deems such enforcement necessary or advisable to protect its rights or the
rights of other Holders hereunder.

         (g)      Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which

<PAGE>
                                                                              20

when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

         (h)      Headings. The headings in this Agreement are for convenience
of reference only and shall not limit or otherwise affect the meaning hereof.

         (i)      Governing Law. This Agreement shall be governed by the laws of
the State of New York without regard to conflicts of law principles.

         (j)      Severability. In the event that any one or more of the
provisions contained herein, or the application thereof in any circumstance, is
Aheld invalid, illegal or unenforceable, the validity, legality and
enforceability of any such provision in every other respect and of the remaining
provisions contained herein shall not be affected or impaired thereby.

<PAGE>
                                                                              21

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first written above.

                                                                      Schedule 1

LAND O'LAKES, INC.                             LAND O'LAKES HOLDINGS, INC.

By: /s/ Daniel Knutson                         By: /s/ Daniel Knutson
    ------------------------------                 -----------------------------
Name: Daniel Knutson                               Name: Daniel Knutson
Title: Senior Vice President &                     Title: Vice President/
Chief Financial Officer                                   Treasurer

ADVANCED BUSINESS CONCEPTS                     LOL HOLDINGS II, INC.
INTERNATIONAL, LLC

By: /s/ Thomas Verdoorn                        By: /s/ Daniel Knutson
    ------------------------------                 -----------------------------
Name: Thomas Verdoorn                              Name: Daniel Knutson
Title: President                                   Title: Treasurer

FARBEST, INC.                                  LAND O'LAKES INTERNATIONAL
                                               DEVELOPMENT CORPORATION

By: /s/ Daniel Knutson                         By: /s/ Thomas Verdoorn
    ------------------------------                 -----------------------------
Name: Daniel Knutson                               Name: Thomas Verdoorn
Title: Secretary/Treasurer                         Title: President

FMR, INC.                                      L.L. OLDS SEED COMPANY

By: /s/ Mary Mill                              By: /s/ Peter Janzen
    ------------------------------                 -----------------------------
Name: Mary Mills                                   Name: Peter Janzen
Title: Secretary                                   Title: Secretary

FORAGE GENETICS, INC.                          LOL POWER, LLC

By: /s/ Peter Janzen                           By: /s/ John Rebane
    ------------------------------                 -----------------------------
Name: Peter Janzen                                 Name: John Rebane
Title: Secretary                                   Title: Secretary

GOLDEN VALLEY DAIRY PRODUCTS                   MAPLELEAF, L.L.C.

By: /s/ John Reban                             By: /s/ Brian Roesler
    ------------------------------                 -----------------------------
Name: John Rebane                                  Name: Brian Roesler
Title:  Secretary                                  Title: Secretary/Treasurer

<PAGE>

                                                                              22

                                                                      Schedule 1

MICHIGAN STATE SEED COMPANY                    QC INDUSTRIES, INC.

By: /s/ Peter Janzen                           By: /s/ Mary Mills
    ------------------------------                 -----------------------------
Name: Peter Janzen                                 Name: Mary Mills
Title: Secretary                                   Title: Secretary

NORTH COAST FERTILIZER II, INC.                REALTY LOL, INC.

By: /s/ John Rebane                            By: /s/ John Rebane
    ------------------------------                 -----------------------------
Name: John Rebane                                  Name: John Rebane
Title: Secretary                                   Title: Vice President/
                                                          Secretary

NORTHWEST FOOD PRODUCTS COMPANY, INC.          RESEARCH SEEDS, INC.

By: /s/ Peter Janzen                           By: /s/ Peter Janzen
    ------------------------------                 -----------------------------
Name: Peter Janzen                                 Name: Peter Janzen
Title: Vice President/Secretary                    Title: Secretary

NORTHWEST FOOD PRODUCTS                        SEED RESEARCH, INC.
TRANSPORTATION, LLC

By: /s/ Paul Delperdang                        By: /s/ Peter Janzen
    ------------------------------                 -----------------------------
Name: Paul Delperdang                              Name: Peter Janzen
Title: Treasurer                                   Title: Secretary

QC HOLDINGS INC.                               SEEDBIOTICS, L.L.C.

By: /s/ Mary Mills                             By: /s/ Stuart Barclay
    ------------------------------                 -----------------------------
Name: Mary Mills                                   Name: Stuart Barclay
Title: Secretary                                   Title: Chief Manager

QC, INC.                                       ACS STORES, L.L.C.

By: /s/ Mary Mills                             By: /s/ Bob DeGregorio
    ------------------------------                 -----------------------------
Name: Mary Mills                                   Name: Bob DeGregorio
Title: Secretary                                   Title: Member Representative

<PAGE>

                                                                              23

                                                                      Schedule 1

ALLIANCE MILD PRODUCTS, LLC                    GOLDEN STATE FEEDS, LLC

By: /s/ Sharon Hoerth                          By: /s/ John Rebane
    ------------------------------                 -----------------------------
Name: Sharon Hoerth                                Name: John Rebane
Title: Vice President Finance                      Title: Assistant Secretary
       Secretary/Treasurer

AMERICA'S COUNTSTORES, LLC                     LAND O'LAKES FARMLAND FEED LLC

By: /s/ John Curran                            By: /s/ Bob DeGregorio
    ------------------------------                 -----------------------------
Name: John Curran                                  Name: Bob DeGregorio
Title: Assistant Secretary                         Title: President

AMERICA'S COUNTRY STORES                       MILK PRODUCTS, LLC
HOLDINGS, LLC
                                               By: /s/ Sharon Hoerth
By: /s/ John Curran                                -----------------------------
    ------------------------------                 Name: Sharon Hoerth
Name: John Curran                                  Title: Treasurer
Title: Assistant Secretary

COASTAL AG-DEVELOPMENT, INC.                   NUTRA-BLEND, LLC

By: /s/ Mike Doyle                             By: /s/ John Curran
    ------------------------------                 -----------------------------
Name: Mike Doyle                                   Name: John Curran
Title: Secretary/Treasurer                         Title: Assistant Secretary

DAIRY MANAGEMENT SERVICES, L.L.P.              PMI AGRICULTURE, L.L.C.

By: /s/ Mike Doyle                             By: /s/  Mike Doyle
    ------------------------------                 -----------------------------
Name: Mike Doyle                                   Name: Mike Doyle
Title: Manager                                     Title: Member

PM NUTIRITION COMPANY, LLC                     PURINA MILLS, LLC

By: /s/ John Curran                            By: /s/ John Curran
    ------------------------------                 -----------------------------
Name: John Curran                                  Name: John Curran
Title: Assistant Secretary                         Title: Assistant Secretary

<PAGE>

                                                                              24

                                                                      Schedule 1

PMI NUTRITION INTERNATIONAL, LLC               THOMAS PRODUCTS, LLC

By: /s/ John Curran                            By: /s/ John Rebane
    ------------------------------                 -----------------------------
Name: John Curran                                  Name: John Rebane
Title: Assistant Secretary                         Title: Assistant Secretary

                                               Confirmed and accepted as
                                               of the date first above written:

                                               J.P. MORGAN SECURITIES INC.

                                               For itself and on behalf of the
                                               several Initial Purchasers

                                               By: /s/ Lauren Camp
                                                   -----------------------------
                                                       Authorized Signatory<PAGE>
                                                                     EXHIBIT 4.7

                                                                  Execution Copy

                               LAND O'LAKES, INC.

                                  $350,000,000

                          8 3/4% Senior Notes due 2011

                               Purchase Agreement

                                                                November 8, 2001

J.P. Morgan Securities Inc.
  As Representative of the
  several Initial Purchasers listed
  in Schedule 1 hereto
c/o J.P. Morgan Securities Inc.
270 Park Avenue
New York, New York 10017

Ladies and Gentlemen:

         Land O'Lakes, Inc., a Minnesota cooperative corporation (the
"Company"), proposes to issue and sell to the several Initial Purchasers listed
in Schedule 1 hereto (the "Initial Purchasers"), for whom you are acting as
representative (the "Representative"), $350,000,000 principal amount of its
8 3/4% Senior Notes due 2011 (the "Securities"). The Securities will be issued
pursuant to an Indenture to be dated as of November 14, 2001 among the Company,
each entity listed on Schedule 2 hereto (collectively, the "Subsidiary
Guarantors") and U.S. Bank N.A., as trustee (the "Trustee"), and will be
guaranteed on an unsecured senior basis by each of the Subsidiary Guarantors
(the "Subsidiary Guarantees").

         The Securities will be offered and sold to the Initial Purchasers
without being registered under the Securities Act of 1933, as amended (the
"Securities Act"), in reliance upon an exemption therefrom. The Company has
prepared a preliminary offering memorandum dated October 26, 2001 (the
"Preliminary Offering Memorandum"), and will prepare an offering memorandum
dated the date hereof (the "Offering Memorandum") setting forth information
concerning the Company and the Securities. Copies of the Preliminary Offering
Memorandum have been, and copies of the Offering Memorandum will be, delivered
by the Company to the Initial Purchasers pursuant to the terms of this
Agreement. The Company hereby confirms that it has authorized the use of the
Preliminary Offering Memorandum and the Offering Memorandum in connection with
the offering and resale of the Securities by the Initial Purchasers in
accordance with the terms and conditions of this Agreement.

<PAGE>

         Holders of the Securities (including the Initial Purchasers and their
direct and indirect transferees) will be entitled to the benefits of a
Registration Rights Agreement, substantially in the form attached hereto as
Exhibit A (the "Registration Rights Agreement"), pursuant to which the Company
and the Subsidiary Guarantors will agree to file one or more registration
statements with the Securities and Exchange Commission (the "Commission")
providing for the registration under the Securities Act of the Securities or the
Exchange Securities referred to (and as defined in) the Registration Rights
Agreement.

         Pursuant to an Agreement and Plan of Merger (the "Merger Agreement")
dated as of June 17, 2001 among the Company, LOL Holdings II, Inc. ("LOL II"), a
wholly owned subsidiary of the Company, LOL Holdings III, Inc. ("LOL III"), a
wholly owned subsidiary of LOL II, and Purina Mills Inc. ("Purina Mills"), on
October 11, 2001, (1) LOL III merged with and into Purina Mills, with Purina
Mills as the surviving corporation (the "Merger") and (2) each share of Purina
Mills common stock was converted into the right to receive $23.00 per share in
cash and each Purina Mills stock option, stock appreciation right and
convertible note was converted into the right to receive a cash sum based on the
common stock consideration of $23.00 per share. As a result of the Merger,
Purina Mills became an indirect wholly owned subsidiary of the Company.
Following the Merger, Purina Mills was converted into a limited liability
company and contributed to Land O'Lakes Farmland Feed LLC, a joint venture
between the Company and Farmland Industries, Inc. In connection with the Merger,
the Company entered into, and made initial borrowings under (i) the Credit
Agreement, dated October 11, 2001, among the Company, The Chase Manhattan Bank,
as administrative agent and collateral agent, and the lenders party thereto, and
documents related thereto (collectively, the "Credit Agreement"), (ii) the
Amended and Restated Five-Year Credit Agreement dated as of October 11, 2001,
among the Company, The Chase Manhattan Bank, as co-administrative agent, CoBank,
ACB, as co-administrative agent and the lenders party thereto, and documents
related thereto (collectively, the "Revolving Credit Agreement") and (iii) the
Credit Agreement dated as of October 11, 2001, between the Company and CoBank,
ACB, as lender, and documents related thereto (collectively, the "Receivables
Bridge Agreement", and together with the Credit Agreement and Revolving Credit
Agreement, the "Bank Agreements"). The Securities are being issued to refinance
certain indebtedness outstanding under the Credit Agreement and Revolving Credit
Agreement.

         The Company hereby confirms its agreement with the several Initial
Purchasers concerning the purchase and resale of the Securities, as follows:

         1. Purchase and Resale of the Securities. (a) The Company agrees to
issue and sell the Securities to the several Initial Purchasers as provided in
this Agreement, and each Initial Purchaser, on the basis of the representations,
warranties and agreements set forth herein and subject to the conditions set
forth herein, agrees to purchase from the Company, severally and not jointly,
the principal amount of Securities set forth

                                       2
<PAGE>

opposite such Initial Purchaser's name in Schedule 1 hereto at a price equal to
98% of the principal amount thereof plus accrued interest, if any, from November
14, 2001 to the date of payment and delivery. The Company will not be obligated
to deliver any of the Securities except upon payment for all the Securities to
be purchased as provided herein.

         (b) The Company understands that the Initial Purchasers intend to offer
the Securities for resale on the terms and subject to the conditions set forth
herein and in the Offering Memorandum. Each Initial Purchaser, severally and not
jointly, represents, warrants and agrees that:

                  (i) it has not solicited offers for, or offered or sold, and
         will not solicit offers for, or offer or sell, the Securities by means
         of any form of general solicitation or general advertising within the
         meaning of Rule 502(c) of Regulation D under the Securities Act
         ("Regulation D") or in any manner involving a public offering within
         the meaning of Section 4(2) of the Securities Act;

                  (ii) it has not solicited offers for, or offered or sold, and
         will not solicit offers for, or offer or sell, the Securities as part
         of their initial offering except:

                           (A) within the United States to persons whom it
                  reasonably believes to be qualified institutional buyers, as
                  defined in Rule 144A under the Securities Act ("Rule 144A")
                  (a "QIB"), in transactions pursuant to Rule 144A, and in
                  connection with each such sale, it has taken or will take
                  reasonable steps to ensure that the purchaser of the
                  Securities is aware that such sale is being made in reliance
                  on Rule 144A; or

                           (B) in accordance with the restrictions set forth in
                  Annex A hereto;

                  (iii)    it is a QIB; and

                  (iv) it is purchasing the Securities pursuant to a private
         sale exempt from registration under the Securities Act.

         (c) Each Initial Purchaser acknowledges and agrees that the Company
and, for purposes of the opinions to be delivered to the Initial Purchasers
pursuant to Sections 5(f) and 5(g), counsel for the Company and for the Initial
Purchasers, respectively, may rely upon the accuracy of the representations and
warranties of the Initial Purchasers and their compliance with their agreements
contained in paragraph (b) above (including Annex A hereto), and each Initial
Purchaser hereby consents to such reliance.

                                      3
<PAGE>

         (d) The Company and each of the Subsidiary Guarantors acknowledges and
agrees that the Initial Purchasers may offer and sell Securities to or through
any affiliate of an Initial Purchaser and that any such affiliate may offer and
sell Securities purchased by it to or through any Initial Purchaser.

         (e) Each Initial Purchaser, severally and not jointly, agrees that,
prior to or essentially simultaneously with the confirmation of sale by such
Initial Purchaser to any purchaser of the Securities purchased by the Initial
Purchaser from the Company pursuant thereto, such Initial Purchaser shall
furnish to that purchaser a copy of the Offering Memorandum (and any amendment
or supplement thereto that the Company shall have furnished to such Initial
Purchaser prior to the date of such confirmation of sale where required by
applicable law).

         2. Payment and Delivery. (a) Payment for and delivery of the Securities
will be made at the offices of Faegre & Benson LLP, Minneapolis, MN at 10:00
A.M., New York City time, on November 14, 2001, or at such other time on the
same or such other date, not later than the fifth Business Day thereafter, as
the Representative and the Company may agree upon in writing. The time and date
of such payment and delivery is referred to herein as the "Closing Date". As
used herein, the term "Business Day" means any day other than a day on which
banks are permitted or required to be closed in New York City.

         (b) Payment for the Securities shall be made by wire transfer in
immediately available funds to the account specified by the Company to the
Representative against delivery to the nominee of The Depository Trust Company,
for the account of the Initial Purchasers, of one or more global notes
representing the Securities (collectively, the "Global Note"), with any transfer
taxes payable in connection with the sale of the Securities duly paid by the
Company. The Global Note will be made available for inspection by the
Representative on behalf of the Initial Purchasers not later than 1:00 P.M., New
York City time, on the Business Day prior to the Closing Date.

         3. Representations and Warranties of the Company and the Subsidiary
Guarantors. The Company and the Subsidiary Guarantors jointly and severally
represent and warrant to each Initial Purchaser that:

         (a) Offering Memorandum. The Preliminary Offering Memorandum, as of its
date, did not, and the Offering Memorandum, in the form first used by the
Initial Purchasers to confirm sales of the Securities and on the Closing Date,
will not, contain any untrue statement of a material fact or omit to state a
material fact necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading; provided that the
Company and the Subsidiary Guarantors make no representation or warranty with
respect to any statements or omissions made in reliance upon and in conformity
with information relating to any Initial Purchaser furnished to the Company in
writing by such Initial Purchaser through the

                                        4

<PAGE>

Representative expressly for use in the Preliminary Offering Memorandum and the
Offering Memorandum.

         (b) Financial Statements. The financial statements and the related
notes thereto included in the Preliminary Offering Memorandum and the Offering
Memorandum present fairly the financial position of the Company and its
Subsidiaries (as defined below) and Purina Mills and its consolidated
subsidiaries as of the dates indicated and the results of their operations and
the changes in their cash flows for the periods specified, subject to year-end
audit adjustments in the case of interim unaudited financial statements ; such
financial statements have been prepared in conformity with generally accepted
accounting principles applied on a consistent basis; the pro forma financial
information and the related notes thereto included in the Preliminary Offering
Memorandum and the Offering Memorandum is based upon good faith estimates and
assumptions believed by the Company to be reasonable; and the principal
assumptions underlying such pro forma financial information are set forth in the
Preliminary Offering Memorandum and the Offering Memorandum. For purposes of
this Purchase Agreement, the term "Subsidiary" means any corporation,
association, partnership or other business entity of which more than 50% of the
total voting power of capital stock or other such interests (including
partnership interests) entitled (without regard to the occurrence of any
contingency) to vote in the election of directors, managers or trustees thereof
is at the time owned or controlled, directly or indirectly, by the Company, the
Company and its Subsidiaries or the Company's Subsidiaries.

         (c) No Material Adverse Change. Except as stated in the Offering
Memorandum, since the date of the most recent financial statements of the
Company and Purina Mills, as applicable, included in the Offering Memorandum,
(i) there has not been any change in the capital stock or long-term debt of the
Company or its Subsidiaries, or any dividend or distribution of any kind
declared, paid or made by the Company or its Subsidiaries on any class of
capital stock, or any material adverse change, or any development involving a
prospective material adverse change, in or affecting the general affairs,
business, properties, management, financial position, stockholders' equity or
results of operations of the Company and its Subsidiaries taken as a whole,
other than changes in the capital structure of Purina Mills as a result of the
Merger; (ii) neither the Company nor any of its Subsidiaries has entered into
any transaction or agreement that is material to the Company and Subsidiaries
taken as a whole (whether or not in the ordinary course of business) or incurred
any liability or obligation, direct or contingent, that is material to the
Company and its Subsidiaries taken as a whole (other than in the ordinary course
of business); and (iii) the Company and its Subsidiaries taken as a whole have
not sustained any material loss or interference with its business from fire,
explosion, flood or other calamity, whether or not covered by insurance, or from
any labor dispute or any action, order or decree of any court or arbitrator or
governmental or regulatory authority.

                                        5

<PAGE>

         (d) Incorporation and Good Standing. The Company and each of the
Subsidiary Guarantors have been duly incorporated or organized, as the case may
be, and are validly existing as corporations or other business entities, as the
case may be, in good standing under the laws of their respective jurisdictions
of incorporation or organization, as the case may be, are duly qualified to do
business and are in good standing as foreign entities in each jurisdiction in
which their respective ownership or lease of property or the conduct of their
respective businesses requires such qualification, and have all power and
authority (corporate and other) necessary to own or hold their respective
properties and to conduct the businesses in which they are engaged, except where
the failure to be so qualified or have such power or authority does not or would
not, individually or in the aggregate, have a material adverse effect on the
general affairs, business, properties, management, financial position,
stockholders' equity or results of operations of the Company and its Subsidiary
Guarantors taken as a whole or on the performance by the Company of its
obligations under the Securities (a "Material Adverse Effect"). The Company does
not own or control, directly or indirectly, any corporation, association or
other entity other than the subsidiaries listed in Schedule 3 to this Agreement.

         (e) Capitalization. The Company has an authorized capitalization as set
forth in the Offering Memorandum under the heading "Capitalization"; and except
as set forth in Schedule 3, all the outstanding shares of capital stock,
membership interests or other equity interests of each Subsidiary of the Company
have been duly and validly authorized and issued, are fully paid and
nonassessable and are owned directly or indirectly by the Company, free and
clear of any lien, charge, encumbrance, security interest, restriction on voting
or transfer or any other claim of any third party, other than liens granted
pursuant to the Bank Agreements. Schedule 3 lists the governance and economic
interests of the Company in each of its Subsidiaries.

         (f) Due Authorization. The Company and each of the Subsidiary
Guarantors had full corporate or other organizational right, power and authority
to execute and deliver each of the Bank Agreements to which they were a party
and to perform their respective obligations thereunder; the Company and each of
the Subsidiary Guarantors signatory thereto have full corporate or other
organizational right, power and authority to execute and deliver this Agreement,
the Securities, the Indenture (including each Subsidiary Guarantee set forth
therein), the Exchange Securities and the Registration Rights Agreement
(collectively, together with the Merger Agreement and the Bank Agreements, the
"Transaction Documents") and to perform their respective obligations hereunder
and thereunder; and all corporate or other organizational action required to be
taken for the due and proper authorization, execution and delivery of each of
the Transaction Documents and the consummation of the transactions contemplated
thereby have been duly and validly taken.

         (g) The Indenture. The Indenture has been duly authorized by the
Company and each of the Subsidiary Guarantors and, when duly executed and
delivered in

                                        6

<PAGE>

accordance with its terms by each of the parties thereto, will constitute a
valid and legally binding agreement of the Company and each of the Subsidiary
Guarantors enforceable against the Company and each of the Subsidiary Guarantors
in accordance with its terms, except as enforceability may be limited by
applicable bankruptcy, insolvency, reorganization or similar laws now or
hereafter in effect relating to or affecting the enforcement of creditors'
rights generally or by equitable principles relating to enforceability (whether
considered a proceeding in equity or at law) (collectively, the "Enforceability
Exceptions"); and on the Closing Date, the Indenture will conform in all
material respects to the requirements of the Trust Indenture Act of 1939, as
amended (the "Trust Indenture Act"), and the rules and regulations of the
Commission applicable to an indenture that is qualified thereunder.

         (h) The Securities and the Guarantees. The Securities have been duly
authorized by the Company and, when duly executed, authenticated, issued and
delivered as provided in the Indenture (assuming the Indenture is a valid and
legally binding obligation of the Trustee) and paid for as provided herein, will
be duly and validly issued and outstanding and will constitute valid and legally
binding obligations of the Company enforceable against the Company in accordance
with their terms, subject to the Enforceability Exceptions, and will be entitled
to the benefits of the Indenture; and the Guarantees have been duly authorized
by each of the Subsidiary Guarantors and, when the Securities have been duly
executed, authenticated, issued and delivered as provided in the Indenture
(assuming the Indenture is a valid and legally binding obligation of the
Trustee) and paid for as provided herein, will be valid and legally binding
obligations of each of the Subsidiary Guarantors, enforceable against each of
the Subsidiary Guarantors in accordance with their terms, subject to the
Enforceability Exceptions, and will be entitled to the benefits of the
Indenture.

         (i) The Exchange Securities. On the Closing Date, the Exchange
Securities (including the related Subsidiary Guarantees) will have been duly
authorized by the Company, or by each of the Subsidiary Guarantors in the case
of the related Subsidiary Guarantees, and, when duly executed, authenticated,
issued and delivered as contemplated by the Registration Rights Agreement, will
be duly and validly issued and outstanding and will constitute valid and legally
binding obligations of the Company, as issuer of the Exchange Securities, and
each of the Subsidiary Guarantors, as guarantor, enforceable against the Company
and each of the Subsidiary Guarantors, as the case may be, in accordance with
their terms, subject to the Enforceability Exceptions, and will be entitled to
the benefits of the Indenture.

         (j) Purchase and Registration Rights Agreements. This Agreement has
been duly authorized, executed and delivered by the Company and each of the
Subsidiary Guarantors; and the Registration Rights Agreement has been duly
authorized by the Company and each of the Subsidiary Guarantors and, when duly
executed and delivered in accordance with its terms by each of the parties
thereto, will constitute a valid and legally binding agreement of the Company
and each of the Subsidiary

                                        7

<PAGE>

Guarantors enforceable against the Company and each of the Subsidiary Guarantors
in accordance with its terms, subject to the Enforceability Exceptions, and
except that rights to indemnity and contribution may be limited by applicable
law and public policy.

         (k) Other Transaction Documents. The Merger Agreement has been duly
authorized, executed and delivered by the Company and the Subsidiaries party
thereto and constitutes a valid and legally binding agreement of the Company and
such Subsidiaries enforceable against the Company and such Subsidiaries in
accordance with its terms, subject to the Enforceability Exceptions. Each of the
Bank Agreements have been duly authorized, executed and delivered by the Company
and the Subsidiaries party thereto and constitute valid and legally binding
agreements of the Company and such subsidiaries enforceable against the Company
and such Subsidiaries in accordance with their terms, subject to the
Enforceability Exceptions.

         (l) Descriptions of Transaction Documents. Each Transaction Document
conforms in all material respects to the description thereof contained in the
Preliminary Offering Memorandum and the Offering Memorandum.

         (m) No Violation or Default. Neither the Company nor any of its
Subsidiaries is (i) in violation of its charter or by-laws (or other comparable
organizational documents); (ii) in default in any material respect, and no event
has occurred that, with notice or lapse of time or both, would constitute such a
default, in the due performance or observance of any term, covenant or condition
contained in any indenture, mortgage, deed of trust, loan agreement or other
agreement or instrument to which the Company or any of its Subsidiaries is a
party or by which the Company or any of its Subsidiaries is bound or to which
any of the property or assets of the Company or any of its Subsidiaries is
subject; or (iii) in violation in any material respect of any law or statute or
any judgment, order or regulation of any court or arbitrator or governmental or
regulatory authority to which it or its property or assets may be subject,
except, in the case of clauses (ii) and (iii) above, for any such default or
violation that would not, individually or in the aggregate, have a Material
Adverse Effect.

         (n) No Conflicts With Existing Instruments; No Consents Required. The
execution, delivery and performance by the Company and each of the Subsidiary
Guarantors of each of the Transaction Documents to which each is a party, the
issuance and sale of the Securities and compliance by the Company and each of
the Subsidiary Guarantors with the terms thereof and the consummation of the
transactions contemplated by the Transaction Documents will not conflict with or
result in a breach or violation of any of the terms or provisions of, or
constitute a default under, or result in the creation or imposition of any lien,
charge or encumbrance upon any property or assets of the Company or any of its
Subsidiaries pursuant to, any material indenture, mortgage, deed of trust, loan
agreement or other material agreement or instrument to which the Company or any
of its Subsidiaries is a party or by which the Company or any of its
Subsidiaries is bound or to which any of the property or assets of the Company
or

                                        8

<PAGE>

any of its Subsidiaries is subject, nor will any such action result in any
violation of the provisions of the charter or by-laws of the Company or any of
its Subsidiaries or any law or statute or any judgment, order or regulation of
any court or arbitrator or governmental or regulatory authority having
jurisdiction over the Company or any of its Subsidiaries or any of their
respective properties or assets; and, assuming the accuracy of the
representations, warranties and agreements of the initial purchasers herein, no
consent, approval, authorization, order, registration or qualification of or
with any such court or arbitrator or governmental or regulatory authority is
required for the execution, delivery and performance by the Company and each of
the Subsidiary Guarantors of each of the Transaction Documents to which each is
a party, the issuance and sale of the Securities and compliance by the Company
and each of the Subsidiary Guarantors with the terms thereof and the
consummation of the transactions contemplated by the Transaction Documents,
except for such consents, approvals, authorizations, orders and registrations or
qualifications as may be required (i) under applicable state securities laws in
connection with the purchase and resale of the Securities by the Initial
Purchasers and (ii) with respect to the Exchange Securities under the Securities
Act and applicable state securities laws as contemplated by the Registration
Rights Agreement.

         (o) Legal Proceedings. Except as specifically described in Offering
Memorandum (or, if the Offering Memorandum is not in existence, the most recent
Preliminary Offering Memorandum), there are no legal, governmental or regulatory
investigations, actions, suits or proceedings pending or threatened to which the
Company or any of its Subsidiaries is or would be a party or to which any
property of the Company or any of its Subsidiaries is or would be the subject
that, individually or in the aggregate, if determined adversely to the Company
or any of its Subsidiaries, could reasonably be expected to have a Material
Adverse Effect; and to the knowledge of the Company and each of the Subsidiary
Guarantors, no such investigations, actions, suits or proceedings are threatened
or contemplated by any governmental or regulatory authority or threatened by
others.

         (p) Independent Accountants. KPMG LLP, who have certified certain
financial statements of the Company and its Subsidiaries and Purina Mills and
its consolidated subsidiaries, are independent public accountants with respect
to the Company and its subsidiaries and Purina Mills and its consolidated
subsidiaries within the meaning of Rule 101 of the Code of Professional Conduct
of the American Institute of Certified Public Accountants and its
interpretations and rulings thereunder.

         (q) Title to Real and Personal Property. The Company and its
Subsidiaries have good and marketable title in fee simple to, or have valid
rights to lease or otherwise use, all items of real and personal property that
are material to the respective businesses of the Company and its Subsidiaries,
in each case free and clear of all liens, encumbrances, claims and defects and
imperfections of title except for those incurred to secure amounts outstanding
under the Bank Agreements and those that (i)

                                        9

<PAGE>

do not materially interfere with the use made and proposed to be made of such
property by the Company and its Subsidiaries or (ii) could not reasonably be
expected, individually or in the aggregate, to have a Material Adverse Effect.

         (r) Title to Intellectual Property. The Company and its Subsidiaries
own or possess adequate rights to use all material patents, patent applications,
trademarks, service marks, trade names, trademark registrations, service mark
registrations, copyrights, licenses and know-how (including trade secrets and
other unpatented and/or unpatentable proprietary or confidential information,
systems or procedures) necessary for the conduct of their respective businesses;
and the conduct of their respective businesses will not conflict in any material
respect with, and the Company and its Subsidiaries have not received any notice
of any claim of conflict with, any such rights of others, except as could not
reasonably be expected to have Material Adverse Effect.

         (s) Investment Company Act. Neither the Company nor any of its
Subsidiaries is, and after giving effect to the offering and sale of the
Securities and the application of the proceeds thereof as described in the
Preliminary Offering Memorandum and the Offering Memorandum none of them will
be, an "investment company" or an entity "controlled" by an "investment company"
within the meaning of the Investment Company Act of 1940, as amended, and the
rules and regulations of the Commission thereunder (collectively, "Investment
Company Act").

         (t) Public Utility Holding Company Act. Neither the Company nor any of
its Subsidiaries is a "holding company" or a "subsidiary company" of a holding
company or an "affiliate" thereof within the meaning of the Public Utility
Holding Company Act of 1935, as amended.

         (u) Taxes. The Company and its Subsidiaries have paid all federal,
state, local and foreign taxes and filed all tax returns required to be paid or
filed through the date hereof except for taxes being contested in good faith for
which adequate reserves have been provided; and except as otherwise specifically
disclosed in the Preliminary Offering Memorandum and the Offering Memorandum,
there is no tax deficiency that has been, or could reasonably be expected to be,
asserted against the Company or any of its Subsidiaries, which had, or could
reasonably be expected to have, a Material Adverse Effect.

         (v) Licenses and Permits. The Company and its Subsidiaries possess all
licenses, certificates, permits and other authorizations issued by, and have
made all declarations and filings with, the appropriate federal, state, local or
foreign governmental or regulatory authorities that are necessary for the
ownership or lease of their respective properties or the conduct of their
respective businesses as described in the Preliminary Offering Memorandum and
the Offering Memorandum, except where the failure to possess or make the same
would not, individually or in the aggregate,

                                       10

<PAGE>

reasonably be expected to have a Material Adverse Effect; and except as
specifically described in the Preliminary Offering Memorandum and the Offering
Memorandum, neither the Company nor any of its subsidiaries has received notice
of any revocation or modification of any such license, certificate, permit or
authorization or has any reason to believe that any such license, certificate,
permit or authorization will not be renewed in the ordinary course, except where
the revocation or modification of any such license, certificate, authorization
or permit or the failure to renew any such license, certificate, authorization
or permit could not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect.

         (w) Material Agreements. Schedule 4 to this Agreement lists (i) all
material agreements (within the meaning of Item 601(b)(10) of Regulation S-K
under the Exchange Act, excluding material agreements under Item 601(b)(10)(iii)
to which the Company or any of its Subsidiaries is a party or by which the
Company or any of its Subsidiaries is bound or to which any of the properties or
assets of the Company or any of its Subsidiaries is subject and (ii) all
agreements and instruments which would be required to be filed under Items
601(b)(2) and (4) of Regulation S-K if the Company were subject to the reporting
requirements of the Exchange Act and the regulations promulgated thereunder.

         (x) No Labor Disputes. No labor disturbance by or dispute with
employees of the Company or any of its subsidiaries exists or, to the knowledge
of the Company and each of the Subsidiary Guarantors, is threatened that, in the
aggregate, could reasonably be expected to result in a Material Adverse Effect.

         (y) Compliance With Environmental Laws. Except as described in the
Offering Memorandum, the Company and its Subsidiaries (i) are in compliance with
any and all applicable federal, state, local and foreign laws and regulations
relating to the protection of human health and safety, the environment or
hazardous or toxic substances or wastes, pollutants or contaminants
(collectively, "Environmental Laws"), and none of them has received notice of
any outstanding violations of any Environmental Laws; (ii) have received all
permits, licenses or other approvals required of them under applicable
Environmental Laws to conduct their respective businesses; and (iii) are in
compliance with all terms and conditions of any such permit, license or
approval, except for any such failure to comply, or to receive required permits,
licenses or approvals, as would not, individually or in the aggregate, have a
Material Adverse Effect.

         (z) Compliance With ERISA. Each employee benefit plan, within the
meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974,
as amended ("ERISA"), that is maintained, administered or contributed to by the
Company or any of its Subsidiaries for employees or former employees of the
Company and its Subsidiaries has been maintained in compliance with its terms
and the requirements of any applicable statutes, orders, rules and regulations,
including but not limited to ERISA

                                       11

<PAGE>

and the Internal Revenue Code of 1986, as amended (the "Code"). No prohibited
transaction, within the meaning of Section 406 of ERISA or Section 4975 of the
Code, has occurred with respect to any such plan excluding transactions effected
pursuant to a statutory or administrative exemption. For each such plan that is
subject to the funding rules of Section 412 of the Code or Section 302 of ERISA,
no "accumulated funding deficiency" as defined in Section 412 of the Code has
been incurred, whether or not waived, and the fair market value of the assets of
each such plan (excluding for these purposes accrued but unpaid contributions)
exceeds the present value of all benefits accrued under such plan determined
using reasonable actuarial assumptions, except where such deficiency or failure
to exceed could not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect.

         (aa) Accounting Controls. The Company and its Subsidiaries maintain
systems of internal accounting controls sufficient to provide reasonable
assurance that (i) transactions are executed in accordance with management's
general or specific authorizations; (ii) transactions are recorded as necessary
to permit preparation of financial statements in conformity with generally
accepted accounting principles and to maintain asset accountability; (iii)
access to assets is permitted only in accordance with management's general or
specific authorization; and (iv) the recorded accountability for assets is
compared with the existing assets at reasonable intervals and appropriate action
is taken with respect to any differences.

         (bb) Insurance. The Company and its Subsidiaries have insurance
covering their respective properties, operations, personnel and businesses,
which insurance is in amounts and insures against such losses and risks as are
adequate to protect the Company and its Subsidiaries and their respective
businesses; and neither the Company nor any of its subsidiaries has (i) received
notice from any insurer or agent of such insurer that capital improvements or
other expenditures are required or necessary to be made in order to continue
such insurance or (ii) any reason to believe that it will not be able to renew
its existing insurance coverage as and when such coverage expires or to obtain
similar coverage at reasonable cost from similar insurers as may be necessary to
continue its business, except, in either case, as would not be expected to have
a Material Adverse Effect.

         (cc) No Unlawful Payments. Neither the Company nor any of its
Subsidiaries nor, to the knowledge of the Company and each of the Subsidiary
Guarantors, any director, officer, agent, employee or other person associated
with or acting on behalf of the Company or any of its Subsidiaries has (i) used
any corporate funds for any unlawful contribution, gift, entertainment or other
unlawful expense relating to political activity; (ii) made any direct or
indirect unlawful payment to any foreign or domestic government official or
employee from corporate funds; (iii) violated or is in violation of any
provision of the Foreign Corrupt Practices Act of 1977; or (iv) made any bribe,
rebate, payoff, influence payment, kickback or other unlawful payment.

                                       12

<PAGE>

         (dd) Margin Rules. Neither the issuance, sale and delivery of the
Securities nor the application of the proceeds thereof by the Company as
described in the Preliminary Offering Memorandum and the Offering Memorandum
will violate Regulation T, U or X of the Board of Governors of the Federal
Reserve System or any other regulation of such Board of Governors.

         (ee) Solvency. On and immediately after the Closing Date, the Company
and each of the Subsidiary Guarantors (after giving effect to the issuance of
the Securities and the other transactions related thereto as described in the
Offering Memorandum) will be Solvent. As used in this paragraph, the term
"Solvent" means, with respect to a particular date, that on such date (i) the
fair value of the assets of each of the Company and the Subsidiary Guarantors,
at a fair valuation, will exceed its debts and liabilities, subordinated,
contingent or otherwise; (ii) the present fair saleable value of the property of
each of the Company and the Subsidiary Guarantors will be greater than the
amount that will be required to pay the probable liability of its debts and
other liabilities, subordinated, contingent or otherwise, as such debts and
other liabilities become absolute and matured; (iii) each of the Company and the
Subsidiary Guarantors will be able to pay its debts and liabilities,
subordinated, contingent or otherwise, as such debts and liabilities become
absolute and matured; and (iv) each of the Company and the Subsidiary Guarantors
will not have unreasonably small capital with which to conduct the business in
which it is engaged as such business is now conducted and is proposed to be
conducted following the Closing Date.

         (ff) Patronage Payments. All claims by members for cash payments of
patronage dividends, revolvements and redemptions under applicable laws,
including bankruptcy, insolvency, receivership or similar laws now or hereafter
in effect, are claims in respect of equity interests and will rank junior in
right of payment to all obligations under this Agreement, the Indenture, the
Securities and the Exchange Securities.

         (gg) No Broker's Fees. Neither the Company nor any of its Subsidiaries
is a party to any contract, agreement or understanding with any person (other
than this Agreement) that would give rise to a valid claim against the Company
or any of its Subsidiaries or any Initial Purchaser for a brokerage commission,
finder's fee or like payment in connection with the offering and sale of the
Securities.

         (hh) Rule 144A Eligibility. The Securities satisfy the eligibility
requirements of Rule 144A(d)(3) under the Securities Act, and each of the
Offering Memorandum, as of its respective date, contains or will contain all the
information that, if requested by a prospective purchaser of the Securities,
would be required to be provided to such prospective purchaser pursuant to Rule
144A(d)(4) under the Securities Act.

         (ii) No Integration. Neither the Company nor any of its affiliates (as
defined in Rule 501(b) of Regulation D) has, directly or through any agent,
sold, offered for sale,

                                       13

<PAGE>

solicited offers to buy or otherwise negotiated in respect of, any security (as
defined in the Securities Act), that is or will be integrated with the sale of
the Securities in a manner that would require registration of the Securities
under the Securities Act.

         (jj) No General Solicitation or Directed Selling Efforts. Assuming the
accuracy of the representations and warranties of the Initial Purchasers
contained in Section 1(b) (including Annex A hereto) and their compliance with
their agreements set forth therein, none of the Company or any of its affiliates
or any other person acting on its or their behalf has (i) solicited offers for,
or offered or sold, the Securities by means of any form of general solicitation
or general advertising within the meaning of Rule 502(c) of Regulation D or in
any manner involving a public offering within the meaning of Section 4(2) of the
Securities Act or (ii) engaged in any directed selling efforts within the
meaning of Regulation S under the Securities Act ("Regulation S"), and all such
persons have complied with the offering restrictions requirement of Regulation
S.

         (kk) Securities Law Exemptions. Assuming the accuracy of the
representations and warranties of the Initial Purchasers contained in Section
1(b) (including Annex A hereto) and their compliance with their agreements set
forth therein, it is not necessary, in connection with the issuance and sale of
the Securities to the Initial Purchasers and the offer, resale and delivery of
the Securities by the Initial Purchasers in the manner contemplated by this
Agreement and the Offering Memorandum, to register the Securities under the
Securities Act or to qualify the Indenture under the Trust Indenture Act.

         (ll) No Stabilization. Neither the Company nor any of the Subsidiary
Guarantors has taken, directly or indirectly, any action designed to or that
could reasonably be expected to cause or result in any stabilization or
manipulation of the price of the Securities.

         (mm) Forward-Looking Statements. No forward-looking statement (within
the meaning of Section 27A of the Securities Act and Section 21 E of the
Exchange Act) contained in the Preliminary Offering Memorandum and the Offering
Memorandum has been made or reaffirmed without a reasonable basis or has been
disclosed other than in good faith.

         4. Further Agreements of the Company and the Subsidiary Guarantors. The
Company and each of the Subsidiary Guarantors jointly and severally covenant and
agree with each Initial Purchaser that:

         (a) Delivery of Copies. The Company will deliver to the Initial
Purchasers as many copies of the Preliminary Offering Memorandum and the
Offering Memorandum (including all amendments and supplements thereto) as the
Representative may reasonably request.

                                       14

<PAGE>

         (b) Amendments or Supplements. Before distributing any amendment or
supplement to the Preliminary Offering Memorandum or the Offering Memorandum,
the Company will furnish to the Representative a copy of the proposed amendment
or supplement for review and will not distribute any such proposed amendment or
supplement to which the Representative reasonably objects by notice to the
Company after a reasonable period to review.

         (c) Notice to the Representative. The Company will advise the
Representative promptly, and, if requested, confirm such advice in writing, (i)
of the issuance by any governmental or regulatory authority of any order
preventing or suspending the use of the Preliminary Offering Memorandum or the
Offering Memorandum or the initiation or threatening of any proceeding for that
purpose; (ii) of the occurrence of any event at any time prior to the completion
of the initial offering of the Securities by the Initial Purchasers as a result
of which the Offering Memorandum as then amended or supplemented would include
any untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements therein, in the light of the
circumstances existing when the Offering Memorandum is delivered to a purchaser,
not misleading; and (iii) of the receipt by the Company of any notice with
respect to any suspension of the qualification of the Securities for offer and
sale in any jurisdiction or the initiation or threatening of any proceeding for
such purpose; and the Company will use its reasonable best efforts to prevent
the issuance of any such order preventing or suspending the use of the
Preliminary Offering Memorandum or the Offering Memorandum or suspending any
such qualification of the Securities and, if issued, to obtain as soon as
possible the withdrawal thereof.

         (d) Ongoing Compliance of the Offering Memorandum. If at any time prior
to the completion of the initial offering of the Securities by the Initial
Purchasers (i) any event shall occur or condition shall exist as a result of
which it is necessary to amend or supplement the Offering Memorandum in order to
make the statements therein, in the light of the circumstances when the Offering
Memorandum is delivered to a purchaser, not misleading or (ii) it is necessary
to amend or supplement the Offering Memorandum to comply with law, the Company
will immediately notify the Initial Purchasers thereof and forthwith prepare
and, subject to paragraph (b) above, furnish to the Initial Purchasers such
amendments or supplements to the Offering Memorandum as may be necessary so that
the statements in the Offering Memorandum as so amended or supplemented will
not, in the light of the circumstances existing when the Offering Memorandum is
delivered to a purchaser, be misleading or so that the Offering Memorandum will
comply with law.

         (e) Blue Sky Compliance. The Company will cooperate with the Initial
Purchasers to qualify the Securities for offer and sale under the securities or
Blue Sky laws of such jurisdictions as the Representative shall reasonably
request and will continue such qualifications in effect so long as may be
reasonably required for the offering and resale of the Securities; provided that
neither the Company nor any of its

                                       15

<PAGE>

Subsidiaries shall be required to qualify as a foreign corporation or to file a
general consent to service of process in any jurisdiction or subject themselves
to taxation in respect of doing business in any jurisdiction.

         (f) Clear Market. During the period from the date hereof through and
including the date that is 90 days after the Closing Date, the Company and each
of the Subsidiary Guarantors will not, without the prior written consent of the
Representative, offer, sell, contract to sell or otherwise dispose of any debt
securities similar to the Securities issued or guaranteed by the Company or any
of the Subsidiary Guarantors.

         (g) Use of Proceeds. The Company will apply the net proceeds from the
sale of the Securities as described in the Offering Memorandum.

         (h) Supplying Information. For so long as the Securities remain
outstanding and are "restricted securities" within the meaning of Rule 144(a)(3)
under the Securities Act, the Company will furnish to holders of the Securities
and prospective purchasers of the Securities designated by such holders, upon
the request of such holders or such prospective purchasers, the information
required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act,
unless the Company is then subject to and in compliance with Section 13 or 15(d)
of the Securities Exchange Act of 1934, as amended (the "Exchange Act").

         (i) PORTAL and DTC. The Company will assist the Initial Purchasers in
arranging for the Securities to be designated Private Offerings, Resales and
Trading through Automated Linkages ("PORTAL") Market securities in accordance
with the rules and regulations adopted by the National Association of Securities
Dealers, Inc. ("NASD") relating to trading in the PORTAL Market and for the
Securities to be eligible for clearance and settlement through The Depository
Trust Company ("DTC").

         (j) No Resales by the Company. Until the issuance of the Exchange
Securities or the effectiveness of the Shelf Registration Statement (as defined
in the Registration Rights Agreement), as the case may be, the Company will not,
and will not permit any of its affiliates (as defined in Rule 144 under the
Securities Act) to, resell any of the Securities that have been acquired by any
of them, except for Securities purchased by the Company or any of its affiliates
and resold in a transaction registered under the Securities Act.

         (k) No Integration. Neither the Company nor any of its affiliates will,
directly or through any agent, sell, offer for sale, solicit offers to buy or
otherwise negotiate in respect of, any security (as defined in the Securities
Act), that is or will be integrated with the sale of the Securities in a manner
that would require registration of the Securities under the Securities Act.

                                       16

<PAGE>

         (l) No General Solicitation or Directed Selling Efforts. None of the
Company or any of its affiliates or any other person acting on its or their
behalf will (i) solicit offers for, or offer or sell, the Securities by means of
any form of general solicitation or general advertising within the meaning of
Rule 502(c) of Regulation D or in any manner involving a public offering within
the meaning of Section 4(2) of the Securities Act or (ii) engage in any directed
selling efforts within the meaning of Regulation S, and all such persons will
comply with the offering restrictions requirement of Regulation S.

         (m) No Stabilization. In connection with the offering of the
Securities, until the Representative has notified the Company of completion of
the resale of the Securities, neither the Company nor any of the Subsidiary
Guarantors will take, directly or indirectly, any action designed to or that
could reasonably be expected to cause or result in any stabilization or
manipulation of the price of the Securities.

         5. Conditions of Initial Purchasers' Obligations. The obligation of
each Initial Purchaser to purchase Securities on the Closing Date as provided
herein is subject to the performance by the Company and each of the Subsidiary
Guarantors of their respective obligations hereunder and to the following
additional conditions:

         (a) Representations and Warranties. The representations and warranties
of the Company and the Subsidiary Guarantors contained herein shall be true and
correct on the date hereof and on and as of the Closing Date; the statements of
the Company, the Subsidiary Guarantors and their respective officers made in any
certificates delivered pursuant to this Agreement shall be true and correct on
and as of the Closing Date; and the Company and the Subsidiary Guarantors shall
have complied with all agreements and all conditions to be performed or
satisfied on their part hereunder at or prior to the Closing Date.

         (b) No Downgrading. Subsequent to the execution and delivery of this
Agreement, (i) no downgrading shall have occurred in the rating accorded the
Securities or any other debt securities or preferred stock issued or guaranteed
by the Company or any of the Subsidiary Guarantors by any "nationally recognized
statistical rating organization", as such term is defined by the Commission for
purposes of Rule 436(g)(2) under the Securities Act; and (ii) no such
organization shall have publicly announced that it has under surveillance or
review (other than an announcement with positive implications of a possible
upgrading) its rating of the Securities or of any other debt securities or
preferred stock issued or guaranteed by the Company.

         (c) No Material Adverse Change. Subsequent to the execution and
delivery of this Agreement, no event or condition of a type described in Section
3(c) hereof shall have occurred or shall exist, which event or condition is not
described in the Offering Memorandum and the effect of which in the reasonable
judgment of the Representative is so material and adverse as to make it
impracticable or inadvisable to proceed with

                                       17

<PAGE>

the offering, resale and delivery of the Securities on the Closing Date on the
terms and in the manner contemplated by this Agreement and the Offering
Memorandum.

         (d) Officer's Certificate. The Representative shall have received on
and as of the Closing Date a certificate of an executive officer of the Company
and of each Subsidiary Guarantor who has specific knowledge of the Company's or
such Subsidiary Guarantor's financial matters and is reasonably satisfactory to
the Representative to the effect set forth in paragraphs (a) through (c) above.

         (e) Comfort Letters. On the date of this Agreement and on the Closing
Date, KPMG LLP shall have furnished to the Representative, at the request of the
Company, letters, dated the respective dates of delivery thereof and addressed
to the Initial Purchasers, in form and substance reasonably satisfactory to the
Representative, containing statements and information of the type customarily
included in accountants' "comfort letters" to underwriters with respect to the
financial statements and certain financial information contained in the
Preliminary Offering Memorandum and the Offering Memorandum.

         (f) Opinion of Counsel for the Company. Faegre & Benson LLP, counsel
for the Company, and John Rebane, Esq., General Counsel of the Company, shall
have furnished to the Representative, at the request of the Company, their
written opinion, dated the Closing Date and addressed to the Initial Purchasers,
in form and substance reasonably satisfactory to the Representative,
substantially to the effect set forth in Annexes B1 and B2 hereto, respectively.

         (g) Opinion of Counsel for the Initial Purchasers. The Representative
shall have received on and as of the Closing Date an opinion of Cravath, Swaine
& Moore, counsel for the Initial Purchasers, with respect to such matters as the
Representative may reasonably request, and such counsel shall have received such
documents and information as they may reasonably request to enable them to pass
upon such matters.

         (h) No Legal Impediment to Issuance. No action shall have been taken
and no statute, rule, regulation or order shall have been enacted, adopted or
issued by any governmental or regulatory authority that would, as of the Closing
Date, prevent the issuance or sale of the Securities; and no injunction or order
of any federal, state or foreign court shall have been issued that would, as of
the Closing Date, prevent the issuance or sale of the Securities.

         (i) Good Standing. The Representative shall have received satisfactory
evidence of the good standing of the Company and its Subsidiary Guarantors in
their respective jurisdictions of incorporation and their good standing as
foreign corporations in such other jurisdictions as the Representative may
reasonably request, in each case in writing or any standard form of
telecommunication, from the appropriate governmental authorities of such
jurisdictions.

                                       18

<PAGE>

         (j) Registration Rights Agreement. The Initial Purchasers shall have
received a counterpart of the Registration Rights Agreement that shall have been
executed and delivered by a duly authorized officer of the Company and each of
the Subsidiary Guarantors.

         (k) PORTAL and DTC. The Securities shall have been approved by the NASD
for trading in the PORTAL Market and shall be eligible for clearance and
settlement through DTC.

         (l) Additional Documents. On or prior to the Closing Date, the Company
and the Subsidiary Guarantors shall have furnished to the Representative such
further certificates and documents as the Representative may reasonably request
and are customary.

         (m) Bank Agreement Consents. The Company shall have received the
appropriate consents under the Bank Agreements for the sale of the Securities in
excess of $300,000,000.

         All opinions, letters, certificates and evidence mentioned above or
elsewhere in this Agreement shall be deemed to be in compliance with the
provisions hereof only if they are in form and substance reasonably satisfactory
to counsel for the Initial Purchasers.

         6. Indemnification and Contribution.

         (a) Indemnification of the Initial Purchasers. The Company and each of
the Subsidiary Guarantors jointly and severally agree to indemnify and hold
harmless each Initial Purchaser, their respective directors, officers, employees
and agents, its affiliates and each person, if any, who controls such Initial
Purchaser within the meaning of Section 15 of the Securities Act or Section 20
of the Exchange Act, from and against any and all losses, claims, damages and
liabilities (including, without limitation, legal fees and other expenses
incurred in connection with any suit, action or proceeding or any claim
asserted), joint or several, caused by any untrue statement or alleged untrue
statement of a material fact contained in the Preliminary Offering Memorandum or
the Offering Memorandum (or any amendment or supplement thereto), or caused by
any omission or alleged omission to state therein a material fact or necessary
in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading, except insofar as such losses, claims,
damages or liabilities are caused by any untrue statement or omission or alleged
untrue statement or omission made in reliance upon and in conformity with any
information relating to any Initial Purchaser furnished to the Company in
writing by such Initial Purchaser through the Representative expressly for use
therein; provided, that with respect to any such untrue statement in or omission
from the Preliminary Offering Memorandum, the indemnity agreement contained in
this paragraph (a) shall not inure to the benefit of any Initial

                                       19

<PAGE>

Purchaser to the extent that the sale to the person asserting any such loss,
claim, damage or liability was an initial resale by such Initial Purchaser and
any such loss, claim, damage or liability of or with respect to such Initial
Purchaser results from the fact that both (i) a copy of the Offering Memorandum
was not sent or given to such person at or prior to the written confirmation of
the sale of such Securities to such person and (ii) the untrue statement in or
omission from such Preliminary Offering Memorandum was corrected in the Offering
Memorandum unless, in either case, such failure to deliver the Offering
Memorandum was a result of non-compliance by the Company with the provisions of
Section 4 hereof.

         (b) Indemnification of the Company. Each Initial Purchaser agrees,
severally and not jointly, to indemnify and hold harmless the Company, each of
the Subsidiary Guarantors their respective directors, officers, employees and
agents, and each person, if any, who controls the Company or any of the
Subsidiary Guarantors within the meaning of Section 15 of the Securities Act or
Section 20 of the Exchange Act to the same extent as the indemnity set forth in
paragraph (a) above, but only with respect to any losses, claims, damages or
liabilities (including, without limitation, legal fees and other expenses
incurred in connection with any suit, action or proceeding or any claim
asserted) caused by any untrue statement or omission or alleged untrue statement
or omission made in reliance upon and in conformity with any information
relating to such Initial Purchaser furnished to the Company in writing by such
Initial Purchaser through the Representative expressly for use in the
Preliminary Offering Memorandum or the Offering Memorandum (or any amendment or
supplement thereto).

         (c) Notice and Procedures. If any suit, action, proceeding (including
any governmental or regulatory investigation), claim or demand shall be brought
or asserted against any person in respect of which indemnification may be sought
pursuant to either paragraph (a) or (b) above, such person (the "Indemnified
Person") shall promptly notify the person against whom such indemnification may
be sought (the "Indemnifying Person") in writing; provided that the failure to
notify the Indemnifying Person shall not relieve it from any liability that it
may have under this Section 6 except to the extent that it has been materially
prejudiced (through the forfeiture of substantive rights or defenses) by such
failure; and provided, further, that the failure to notify the Indemnifying
Person shall not relieve it from any liability that it may have to an
Indemnified Person otherwise than under this Section 6. If any such proceeding
shall be brought or asserted against an Indemnified Person and it shall have
notified the Indemnifying Person thereof, the Indemnifying Person shall be
entitled to participate therein and, to the extent that it wishes, jointly with
any other Indemnifying Person similarly notified, to assume the defense of such
proceeding and retain counsel reasonably satisfactory to the Indemnified Person
to represent the Indemnified Person and any others entitled to indemnification
pursuant to this Section 6 that the Indemnifying Person may designate in such
proceeding and shall pay the fees and expenses of such counsel related to such
proceeding. In any such proceeding, any Indemnified Person shall have the right
to retain its own counsel, but the fees and

                                       20

<PAGE>

expenses of such counsel shall be at the expense of such Indemnified Person
unless (i) the Indemnifying Person and the Indemnified Person shall have
mutually agreed in writing to the contrary; (ii) the Indemnifying Person has
failed within a reasonable time to retain counsel reasonably satisfactory to the
Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded
(based upon the advice of counsel to the Indemnified Party) that there may be
legal defenses available to it that are different from or in addition to those
available to the Indemnifying Person; or (iv) the named parties in any such
proceeding (including any impleaded parties) include both the Indemnifying
Person and the Indemnified Person and representation of both parties by the same
counsel would be inappropriate due to actual or potential differing interests
between them (based upon the advice of counsel to the Indemnified Party). It is
understood and agreed that the Indemnifying Person shall not, in connection with
any proceeding or related proceeding in the same jurisdiction, be liable for the
fees and expenses of more than one separate firm (in addition to any local
counsel) for all Indemnified Persons, and that all such fees and expenses shall
be reimbursed as they are incurred. Any such separate firm for any Initial
Purchaser, its affiliates and any control persons of such Initial Purchaser
shall be designated in writing by J.P. Morgan Securities Inc. and any such
separate firm for the Company, the Subsidiary Guarantors and any control persons
of the Company and the Subsidiary Guarantors shall be designated in writing by
the Company. The Indemnifying Person shall not be liable for any settlement of
any proceeding effected without its written consent, but if settled with such
consent or if there be a final judgment for the plaintiff, the Indemnifying
Person agrees to indemnify each Indemnified Person from and against any loss or
liability by reason of such settlement or judgment. No Indemnifying Person
shall, without the written consent of the Indemnified Person, effect any
settlement of any pending or threatened proceeding in respect of which any
Indemnified Person is a party and indemnification could have been sought
hereunder by such Indemnified Person, unless such settlement includes an
unconditional release of such Indemnified Person from all liability on claims
that are the subject matter of such proceeding.

         (d) Contribution. If the indemnification provided for in paragraphs (a)
and (b) above is unavailable to an Indemnified Person or insufficient in respect
of any losses, claims, damages or liabilities referred to therein, then each
Indemnifying Person under such paragraph, in lieu of indemnifying such
Indemnified Person thereunder, shall contribute to the amount paid or payable by
such Indemnified Person as a result of such losses, claims, damages or
liabilities (i) in such proportion as is appropriate to reflect the relative
benefits received by the Company and the Subsidiary Guarantors on the one hand
and the Initial Purchasers on the other from the offering of the Securities or
(ii) if the allocation provided by clause (i) is not permitted by applicable
law, in such proportion as is appropriate to reflect not only the relative
benefits referred to in clause (i) but also the relative fault of the Company
and the Subsidiary Guarantors on the one hand and the Initial Purchasers on the
other in connection with the statements or omissions that resulted in such
losses, claims, damages or liabilities, as well as any other relevant equitable
considerations. The relative benefits received by the Company

                                       21

<PAGE>

and the Subsidiary Guarantors on the one hand and the Initial Purchasers on the
other shall be deemed to be in the same respective proportions as the net
proceeds (before deducting expenses) received by the Company and the Subsidiary
Guarantors from the sale of the Securities and the total discounts and
commissions received by the Initial Purchasers in connection therewith, as
provided in this Agreement, bear to the total gross proceeds from the sale of
the Securities under this Agreement. For purposes of this paragraph (d), each
director, officer, employee and agent of the Company and the Subsidiary
Guarantors and each person, if any, who controls the Company or any of the
Subsidiary Guarantors within the meaning of Section 15 of the Securities Act or
Section 20 of the Exchange Act shall have the same rights to contribution as the
Company and the Subsidiary Guarantors. The relative fault of the Company and the
Subsidiary Guarantors on the one hand and the Initial Purchasers on the other
shall be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission or alleged omission
to state a material fact relates to information supplied by the Company or any
Subsidiary Guarantor or by the Initial Purchasers and the parties' relative
intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission.

         (e) Limitation on Liability. The Company, the Subsidiary Guarantors and
the Initial Purchasers agree that it would not be just and equitable if
contribution pursuant to this Section 6 were determined by pro rata allocation
(even if the Initial Purchasers were treated as one entity for such purpose) or
by any other method of allocation that does not take account of the equitable
considerations referred to in paragraph (d) above. The amount paid or payable by
an Indemnified Person as a result of the losses, claims, damages and liabilities
referred to in paragraph (d) above shall be deemed to include, subject to the
limitations set forth above, any out-of-pocket legal or other expenses
reasonably incurred by such Indemnified Person in connection with investigating
or defending any such action or claim. Notwithstanding the provisions of this
Section 6, in no event shall an Initial Purchaser be required to contribute any
amount in excess of the amount by which the total discounts and commissions
received by such Initial Purchaser with respect to the offering of the
Securities exceeds the amount of any damages that such Initial Purchaser has
otherwise been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11 (f) of the Securities Act)
shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. The Initial Purchasers' obligations to contribute
pursuant to this Section 6 are several in proportion to their respective
purchase obligations hereunder and not joint.

         (f) Non-Exclusive Remedies. The remedies provided for in this Section 6
are not exclusive and shall not limit any rights or remedies that may otherwise
be available to any Indemnified Person at law or in equity.

                                       22

<PAGE>

         7. Termination. This Agreement may be terminated in the absolute
discretion of the Representative, by notice to the Company, if after the
execution and delivery of this Agreement and prior to the Closing Date (i)
trading generally shall have been suspended or materially limited on or by any
of the New York Stock Exchange, the American Stock Exchange or the
over-the-counter market; (ii) trading of any securities issued or guaranteed by
the Company or any of the Subsidiary Guarantors shall have been suspended on any
exchange or in any over-the-counter market; (iii) a general moratorium on
commercial banking activities shall have been declared by federal or New York
State authorities; or (iv) there shall have occurred any outbreak or escalation
of hostilities or any change in financial markets or any calamity or crisis,
either within or outside the United States, that in the judgment of the
Representative is material and adverse and makes it impracticable or inadvisable
to proceed with the offer, sale or delivery of the Securities on the terms and
in the manner contemplated by this Agreement and the Offering Memorandum.

         8. Defaulting Initial Purchaser. (a) If, on the Closing Date, any
Initial Purchaser defaults on its obligation to purchase the Securities that it
has agreed to purchase hereunder, the non-defaulting Initial Purchasers may in
their discretion arrange for the purchase of such Securities by other persons
satisfactory to the Company on the terms contained in this Agreement. If, within
36 hours after any such default by any Initial Purchaser, the non-defaulting
Initial Purchasers do not arrange for the purchase of such Securities, then the
Company shall be entitled to a further period of 36 hours within which to
procure other persons satisfactory to the non-defaulting Initial Purchasers to
purchase such Securities on such terms. If other persons become obligated or
agree to purchase the Securities of a defaulting Initial Purchaser, either the
non-defaulting Initial Purchasers or the Company may postpone the Closing Date
for up to five full Business Days in order to effect any changes that in the
opinion of counsel for the Company or counsel for the Initial Purchasers may be
necessary in the Offering Memorandum or in any other document or arrangement,
and the Company agrees to promptly prepare any amendment or supplement to the
Offering Memorandum that effects any such changes. As used in this Agreement,
the term "Initial Purchaser" includes, for all purposes of this Agreement unless
the context otherwise requires, any person not listed in Schedule 1 hereto that,
pursuant to this Section 8, purchases Securities that a defaulting Initial
Purchaser agreed but failed to purchase.

         (b) If, after giving effect to any arrangements for the purchase of the
Securities of a defaulting Initial Purchaser or Initial Purchasers by the
non-defaulting Initial Purchasers and the Company as provided in paragraph (a)
above, the aggregate principal amount of such Securities that remains
unpurchased does not exceed one- eleventh of the aggregate principal amount of
all the Securities, then the Company shall have the right to require each
non-defaulting Initial Purchaser to purchase the principal amount of Securities
that such Initial Purchaser agreed to purchase hereunder plus such Initial
Purchaser's pro rata share (based on the principal amount of Securities that
such Initial Purchaser agreed to purchase hereunder) of the Securities of such

                                       23

<PAGE>

defaulting Initial Purchaser or Initial Purchasers for which such arrangements
have not been made.

         (c) If, after giving effect to any arrangements for the purchase of the
Securities of a defaulting Initial Purchaser or Initial Purchasers by the
non-defaulting Initial Purchasers and the Company as provided in paragraph (a)
above, the aggregate principal amount of such Securities that remains
unpurchased exceeds one-eleventh of the aggregate principal amount of all the
Securities, or if the Company shall not exercise the right described in
paragraph (b) above, then this Agreement shall terminate without liability on
the part of the non-defaulting Initial Purchasers, the Company or the Subsidiary
Guarantors, except that the Company and each of the Subsidiary Guarantors will
continue to be liable for the payment of expenses as set forth in Section 9
hereof and except that the provisions of Section 6 hereof shall not terminate
and shall remain in effect.

         (d) Nothing contained herein shall relieve a defaulting Initial
Purchaser of any liability it may have to the Company, the Subsidiary Guarantors
or any non-defaulting Initial Purchaser for damages caused by its default.

         9. Payment of Expenses. (a) Whether or not the transactions
contemplated by this Agreement are consummated or this Agreement is terminated,
the Company and each of the Subsidiary Guarantors jointly and severally agree to
pay or cause to be paid all costs and expenses incident to the performance of
their respective obligations hereunder, including without limitation, (i) the
costs incident to the authorization, issuance, sale, preparation and delivery of
the Securities and any taxes payable in that connection; (ii) the costs incident
to the preparation and printing of the Preliminary Offering Memorandum and the
Offering Memorandum (including any amendment or supplement thereto) and the
distribution thereof to the Initial Purchasers; (iii) the costs of reproducing
and distributing each of the Transaction Documents; (iv) the fees and expenses
of the Company's and the Subsidiary Guarantors' counsel and independent
accountants; (v) the fees and expenses incurred in connection with the
registration or qualification and determination of eligibility for investment of
the Securities under the laws of such jurisdictions as the Representative may
designate and the preparation, printing and distribution of a Blue Sky
Memorandum (including the related fees and expenses of counsel for the Initial
Purchasers); (vi) any fees charged by rating agencies for rating the Securities;
(vii) the fees and expenses of the Trustee and any paying agent (including
related fees and expenses of any counsel to such parties); (viii) all expenses
and application fees incurred in connection with the application for the
inclusion of the Securities on the PORTAL Market and the approval of the
Securities for book-entry transfer by DTC; and (ix) all expenses incurred by the
Company in connection with any "road show" presentation to potential investors.

         (b) If (i) this Agreement is terminated pursuant to Section 7, (ii) the
Company for any reason fails to tender the Securities for delivery to the
Initial Purchasers or (iii)

                                       24

<PAGE>

the Initial Purchasers decline to purchase the Securities for any reason
permitted under this Agreement, the Company and each of the Subsidiary
Guarantors jointly and severally agrees to reimburse the Initial Purchasers for
all out-of-pocket costs and expenses (including the reasonable fees and expenses
of their counsel) reasonably incurred by the Initial Purchasers in connection
with this Agreement and the offering contemplated hereby. If this Purchase
Agreement is terminated pursuant to Section 8 by reason of the default of one or
more of the Initial Purchasers, the Company shall not be obligated to reimburse
any defaulting Initial Purchaser on account of such expenses.

         10. Persons Entitled to Benefit of Agreement. This Agreement shall
inure to the benefit of and be binding upon the Company, the Subsidiary
Guarantors and any controlling persons referred to herein, the Initial
Purchasers, their respective affiliates and any controlling persons referred to
herein, and their respective successors. Nothing in this Agreement is intended
or shall be construed to give any other person any legal or equitable right,
remedy or claim under or in respect of this Agreement or any provision contained
herein. No purchaser of Securities from any Initial Purchaser shall be deemed to
be a successor merely by reason of such purchase.

         11. Survival. The respective indemnities, rights of contribution,
representations, warranties and agreements of the Company, the Subsidiary
Guarantors and the Initial Purchasers contained in this Agreement or made by or
on behalf of the Company, the Subsidiary Guarantors or the Initial Purchasers
pursuant to this Agreement or any certificate delivered pursuant hereto shall
survive the delivery of and payment for the Securities and shall remain in full
force and effect, regardless of any termination of this Agreement or any
investigation made by or on behalf of the Company, the Subsidiary Guarantors or
the Initial Purchasers.

         12. Initial Purchasers' Information. The Company, the Subsidiary
Guarantors and the Initial Purchasers acknowledge and agree that the only
information relating to any Initial Purchaser that has been furnished to the
Company in writing by any Initial Purchaser through the Representative expressly
for use in the Preliminary Offering Memorandum and the Offering Memorandum (or
any amendment or supplement thereto) consists of the following: (i) the last
paragraph on the front cover page concerning the terms of the offering by the
Initial Purchasers, and (ii) the statements concerning the Initial Purchasers
contained in the third, sixth and eleventh paragraphs under the heading "Plan of
Distribution".

         13. Miscellaneous. (a) Authority of the Representative. Any action by
the Initial Purchasers hereunder may be taken by J.P. Morgan Securities Inc. on
behalf of the Initial Purchasers, and any such action taken by J.P. Morgan
Securities Inc. shall be binding upon the Initial Purchasers.

         14. Notices. All notices and other communications hereunder shall be in
writing and shall be deemed to have been duly given if mailed or transmitted and

                                       25

<PAGE>

confirmed by any standard form of telecommunication. Notices to the Initial
Purchasers shall be given to the Representative c/o J.P. Morgan Securities Inc.,
270 Park Avenue, New York, New York 10017 (fax: (212) 270-0994; Attention:
Lauren Camp. Notices to the Company and the Subsidiary Guarantors shall be given
to them at Land O'Lakes, Inc., 4001 Lexington Avenue, Arden Hills, Minnesota
55440, (fax: (651) 481-2509); Attention: Dan Knutson (with a copy to John Rebane
(fax: (651) 481-2832).

         (b) Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York.

         (c) Counterparts. This Agreement may be signed in counterparts (which
may include counterparts delivered by any standard form of telecommunication),
each of which shall be an original and all of which together shall constitute
one and the same instrument.

         (d) Amendments or Waivers. No amendment or waiver of any provision of
this Agreement, nor any consent or approval to any departure therefrom, shall in
any event be effective unless the same shall be in writing and signed by the
parties hereto.

         (e) Headings. The headings herein are included for convenience of
reference only and are not intended to be part of, or to affect the meaning or
interpretation of, this Agreement.

                                       26

<PAGE>

If the foregoing is in accordance with your understanding, please indicate your
acceptance of this Agreement by signing in the space provided below.

                                                                      Schedule 1

LAND O'LAKES, INC.                             LAND O'LAKES HOLDINGS, INC.

By: /s/ Daniel Knutson                         By: /s/ Daniel Knutson
    ------------------------------                 -----------------------------
Name: Daniel Knutson                               Name: Daniel Knutson
Title: Senior Vice President &                     Title: Vice President/
Chief Financial Officer                                   Treasurer

ADVANCED BUSINESS CONCEPTS                     LOL HOLDINGS II, INC.
INTERNATIONAL, LLC

By: /s/ Thomas Verdoorn                        By: /s/ Daniel Knutson
    ------------------------------                 -----------------------------
Name: Thomas Verdoorn                              Name: Daniel Knutson
Title: President                                   Title: Treasurer

FARBEST, INC.                                  LAND O'LAKES INTERNATIONAL
                                               DEVELOPMENT CORPORATION

By: /s/ Daniel Knutson                         By: /s/ Thomas Verdoorn
    ------------------------------                 -----------------------------
Name: Daniel Knutson                               Name: Thomas Verdoorn
Title: Secretary/Treasurer                         Title: President

FMR, INC.                                      L.L. OLDS SEED COMPANY

By: /s/ Mary Mill                              By: /s/ Peter Janzen
    ------------------------------                 -----------------------------
Name: Mary Mills                                   Name: Peter Janzen
Title: Secretary                                   Title: Secretary

FORAGE GENETICS, INC.                          LOL POWER, LLC

By: /s/ Peter Janzen                           By: /s/ John Rebane
    ------------------------------                 -----------------------------
Name: Peter Janzen                                 Name: John Rebane
Title: Secretary                                   Title: Secretary

GOLDEN VALLEY DAIRY PRODUCTS                   MAPLELEAF, L.L.C.

By: /s/ John Reban                             By: /s/ Brian Roesler
    ------------------------------                 -----------------------------
Name: John Rebane                                  Name: Brian Roesler
Title:  Secretary                                  Title: Secretary/Treasurer

                                       27

<PAGE>

                                                                      Schedule 1

MICHIGAN STATE SEED COMPANY                    QC INDUSTRIES, INC.

By: /s/ Peter Janzen                           By: /s/ Mary Mills
    ------------------------------                 -----------------------------
Name: Peter Janzen                                 Name: Mary Mills
Title: Secretary                                   Title: Secretary

NORTH COAST FERTILIZER II, INC.                REALTY LOL, INC.

By: /s/ John Rebane                            By: /s/ John Rebane
    ------------------------------                 -----------------------------
Name: John Rebane                                  Name: John Rebane
Title: Secretary                                   Title: Vice President/
                                                          Secretary

NORTHWEST FOOD PRODUCTS COMPANY, INC.          RESEARCH SEEDS, INC.

By: /s/ Peter Janzen                           By: /s/ Peter Janzen
    ------------------------------                 -----------------------------
Name: Peter Janzen                                 Name: Peter Janzen
Title: Vice President/Secretary                    Title: Secretary

NORTHWEST FOOD PRODUCTS                        SEED RESEARCH, INC.
TRANSPORTATION, LLC

By: /s/ Paul Delperdang                        By: /s/ Peter Janzen
    ------------------------------                 -----------------------------
Name: Paul Delperdang                              Name: Peter Janzen
Title: Treasurer                                   Title: Secretary

QC HOLDINGS INC.                               SEEDBIOTICS, L.L.C.

By: /s/ Mary Mills                             By: /s/ Stuart Barclay
    ------------------------------                 -----------------------------
Name: Mary Mills                                   Name: Stuart Barclay
Title: Secretary                                   Title: Chief Manager

QC, INC.                                       ACS STORES, L.L.C.

By: /s/ Mary Mills                             By: /s/ Bob DeGregorio
    ------------------------------                 -----------------------------
Name: Mary Mills                                   Name: Bob DeGregorio
Title: Secretary                                   Title: Member Representative

                                       28

<PAGE>

                                                                      Schedule 1

ALLIANCE MILD PRODUCTS, LLC                    GOLDEN STATE FEEDS, LLC

By: /s/ Sharon Hoerth                          By: /s/ John Rebane
    ------------------------------                 -----------------------------
Name: Sharon Hoerth                                Name: John Rebane
Title: Vice President Finance                      Title: Assistant Secretary
       Secretary/Treasurer

AMERICA'S COUNTSTORES, LLC                     LAND O'LAKES FARMLAND FEED LLC

By: /s/ John Curran                            By: /s/ Bob DeGregorio
    ------------------------------                 -----------------------------
Name: John Curran                                  Name: Bob DeGregorio
Title: Assistant Secretary                         Title: President

AMERICA'S COUNTRY STORES                       MILK PRODUCTS, LLC
HOLDINGS, LLC
                                               By: /s/ Sharon Hoerth
By: /s/ John Curran                                -----------------------------
    ------------------------------                 Name: Sharon Hoerth
Name: John Curran                                  Title: Treasurer
Title: Assistant Secretary

COASTAL AG-DEVELOPMENT, INC.                   NUTRA-BLEND, LLC

By: /s/ Mike Doyle                             By: /s/ John Curran
    ------------------------------                 -----------------------------
Name: Mike Doyle                                   Name: John Curran
Title: Secretary/Treasurer                         Title: Assistant Secretary

DAIRY MANAGEMENT SERVICES, L.L.P.              PMI AGRICULTURE, L.L.C.

By: /s/ Mike Doyle                             By: /s/  Mike Doyle
    ------------------------------                 -----------------------------
Name: Mike Doyle                                   Name: Mike Doyle
Title: Manager                                     Title: Member

PM NUTIRITION COMPANY, LLC                     PURINA MILLS, LLC

By: /s/ John Curran                            By: /s/ John Curran
    ------------------------------                 -----------------------------
Name: John Curran                                  Name: John Curran
Title: Assistant Secretary                         Title: Assistant Secretary

                                       29

<PAGE>

                                                                      Schedule 1

PMI NUTRITION INTERNATIONAL, LLC               THOMAS PRODUCTS, LLC

By: /s/ John Curran                            By: /s/ John Rebane
    ------------------------------                 -----------------------------
Name: John Curran                                  Name: John Rebane
Title: Assistant Secretary                         Title: Assistant Secretary

                                               Confirmed and accepted as
                                               of the date first above written:

                                               J.P. MORGAN SECURITIES INC.

                                               For itself and on behalf of the
                                               several Initial Purchasers

                                               By: /s/ Lauren Camp
                                                   -----------------------------
                                                       Authorized Signatory

                                       30

<PAGE>

                                                                      Schedule 1

<TABLE>
<CAPTION>

                    Initial Purchaser                                         Principal Amount
                    -----------------                                         ----------------
<S>                                                                         <C>
J.P. Morgan Securities Inc.                                                       $255,500,000
SPP Capital Partners, LLC                                                          $24,500,000
SunTrust Robinson Capital Markets, Inc.                                            $29,750,000
Tokyo-Mitsubishi International plc                                                 $26,250,000
U.S. Bancorp Piper Jaffray Inc.                                                    $14,000,000
                                                                                   -----------
Total                                                                             $350,000,000

</TABLE>

                                       31
<PAGE>

                                                                      Schedule 2

Subsidiary Guarantors

ACS Stores, L.L.C.,
Advanced Business Concepts International, LLC
Alliance Milk Products, LLC
America's Country Stores Holdings, LLC
America's Country Stores, LLC
Coastal Ag-Development, Inc.
Dairy Management Services, L.L.P.
Diamond Cross, LLC, Farbest, Inc.
FMR, Inc.
Forage Genetics, Inc.
Golden State Feeds, LLC
Golden Valley Dairy Products
L.L. Olds Seed Company
Land O'Lakes Farmland Feed LLC
Land O'Lakes Holdings, Inc.
Land O'Lakes International Development Corporation
LOL Holdings II, Inc.
LOL Power, LLC
Mapleleaf, L.L.C.
Michigan State Seed Company
Milk Products, LLC
North Coast Fertilizer II, Inc.
Northwest Food Products Company, Inc.
Northwest Food Products Transportation
LLC, Nutra-Blend, LLC
PM Nutrition Company, LLC
PMI Nutrition, LLC
PMI Agriculture, L.L.C.
PMI Nutrition International, LLC
Purina Mills, LLC
QC, Inc.
QC Holdings Inc.
QC Industries, Inc.
Realty LOL, Inc.
Research Seeds, Inc.
Seed Research, Inc.
Seedbiotics, L.L.C
Thomas Products, LLC

                                       32
<PAGE>

                                                                      Schedule 3

Subsidiary             Governance Interest                   Economic Interest
----------             -------------------                   -----------------

                                       33

<PAGE>

                                                                      Schedule 4

Material Contracts

1.   Limited Liability Company Agreement by and between Farmland Industries,
     Inc. and Land O'Lakes, Inc. dated as of September 1, 2000.

2.   Joint Venture Agreement by and between Farmland Industries, Inc. and Land
     O'Lakes, Inc. dated as of July 18, 2000.

3.   Operating Agreement of Agriliance LLC among United Country Brands, LLC,
     Cenex Harvest States Cooperatives, Farmland Industries, Inc. and Land
     O'Lakes, Inc. dated as of January 4, 2000.

4.   Joint Venture Agreement among Cenex Harvest States Cooperatives, Farmland
     Industries, Inc. and Land O'Lakes, Inc. dated as of January 1, 2000.

5.   Market Hog Supply Agreement by and between IBP, Inc. and Land O'Lakes, Inc.
     dated as of August 17, 2000.

6.   Operating Lease between Arden Hills Associates and Land O'Lakes, Inc. dated
     as of May 31, 1980.

7.   Ground Lease between Land O'Lakes, Inc. and Arden Hills Associates dated of
     May 31, 1980.

8.   License Agreement among Ralston Purina Company, Purina Mills, Inc. and BP
     Nutrition Limited dated as of October 1, 1986.

9.   Credit Agreement among Land O'Lakes, Inc., as Borrower, the Lenders party
     thereto and The Chase Manhattan Bank, as Administrative Agent dated as of
     October 11, 2001.

10.  Guarantee and Collateral Agreement among Land O'Lakes, Inc., the Subsidiary
     Parties named therein and The Chase Manhattan Bank, as Collateral Agent
     dated as of October 11, 2001.

11.  Indenture dated as of November 14, 2001, among Land O'Lakes, Inc., a
     Minnesota cooperative corporation, ACS Stores, L.L.C., Advanced Business
     Concepts International, LLC, Alliance Milk Products, LLC, America's Country
     Stores Holdings, LLC, America's Country Stores, LLC, Coastal
     Ag-Development, Inc., Dairy Management Services, L.L.P., Diamond Cross,
     LLC, Farbest, Inc., FMR, Inc. Forage Genetics, Inc., Golden State Feeds,
     LLC, Golden Valley Dairy Products, L.L. Olds Seed Company, Land O'Lakes
     Farmland Feed LLC, Land

                                       34

<PAGE>

     O'Lakes Holdings, Inc., Land O'Lakes International Development Corporation,
     LOL Holdings II, Inc., LOL Power, LLC, Mapleleaf, L.L.C, Michigan State
     Seed Company, Milk Products, LLC, North Coast Fertilizer II, Inc.,
     Northwest Food Products Company, Inc., Northwest Food Products
     Transportation, LLC, Nutra-Blend, LLC, PM Nutrition Company, LLC, PMI
     Nutrition, LLC, PMI Agriculture, L.L.C., PMI Nutrition International, LLC,
     Purina Mills, LLC, QC , Inc., QC Holdings Inc., QC Industries, Inc., Realty
     LOL, Inc., Research Seeds, Inc., Seed Research, Inc., Seedbiotics, L.L.C,
     Thomas Products, LLC and U.S. Bank N.A., a national banking association, as
     trustee.

12.  Registration Rights Agreement dated November 14, 2001 by and among Land
     O'Lakes, Inc., a Minnesota cooperative corporation, the entities listed in
     Schedule I thereto, as Subsidiary Guarantors and J.P. Morgan Securities
     Inc., SPP Capital Partners, LLC, SunTrust Capital Markets, Inc.,
     Tokyo-Mitsubishi International plc and U.S. Bancorp Piper Jaffray, as
     Initial Purchasers.

13.  Purchase Agreement by and between Land O'Lakes, Inc., a Minnesota
     cooperative corporation and the Initial Purchasers listed in Schedule 1
     thereto dated as of November 8, 2001.

                                       35

<PAGE>

                                                                         ANNEX A

             Restrictions on Offers and Sales Outside the United States

         In connection with offers and sales of Securities outside the United
States:

         (a) Each Initial Purchaser acknowledges that the Securities have not
been registered under the Securities Act and may not be offered or sold within
the United States or to, or for the account or benefit of, U.S. persons except
pursuant to an exemption from, or in transactions not subject to, the
registration requirements of the Securities Act.

         (b) Each Initial Purchaser, severally and not jointly, represents,
warrants and agrees that:

                  (i) Such Initial Purchaser has offered and sold the
         Securities, and will offer and sell the Securities, (A) as part of
         their distribution at any time and (B) otherwise until 40 days after
         the later of the commencement of the offering of the Securities and the
         Closing Date, only in accordance with Regulation S under the Securities
         Act ("Regulation S") or Rule 144A or any other available exemption from
         registration under the Securities Act.

                  (ii) None of such Initial Purchaser or any of its affiliates
         or any other person acting on its or their behalf has engaged or will
         engage in any directed selling efforts with respect to the Securities,
         and all such persons have complied and will comply with the offering
         restrictions requirement of Regulation S.

                  (iii) At or prior to the confirmation of sale of any
         Securities sold in reliance on Regulation S, such Initial Purchaser
         will have sent to each distributor, dealer or other person receiving a
         selling concession, fee or other remuneration that purchase Securities
         from it during the distribution compliance period a confirmation or
         notice to substantially the following effect:

                  "The Securities covered hereby have not been registered under
                  the U.S. Securities Act of 1933, as amended (the "Securities
                  Act"), and may not be offered or sold within the United States
                  or to, or for the account or benefit of, U.S. persons (i) as
                  part of their distribution at any time or (ii) otherwise until
                  40 days after the later of the commencement of the offering of
                  the Securities and the date of original issuance of the
                  Securities, except in accordance with Regulation S or Rule
                  144A or any other available exemption from registration under
                  the Securities Act. Terms used above have the meanings given
                  to them by Regulation S."

<PAGE>

                  (iv) Such Initial Purchaser has not and will not enter into
         any contractual arrangement with any distributor with respect to the
         distribution of the Securities, except with its affiliates or with the
         prior written consent of the Company.

                  (v) Each Initial Purchaser, severally and not jointly,
         represents, warrants and agrees that it has complied and will comply
         with all applicable laws and regulations in each jurisdiction in which
         it acquires, offers, sells or delivers Securities or has in its
         possession or distributes the Preliminary Offering Memorandum, the
         Offering Memorandum or any other offering or publicity material
         relating to the Securities.

Terms used in paragraph (a) and this paragraph (b) have the meanings given to
them by Regulation S.

         (c) Each Initial Purchaser, severally and not jointly, represents,
warrants and agrees that (i) it has not offered or sold and prior to the date
six months after the Closing Date will not offer or sell any Securities to
persons in the United Kingdom except to persons whose ordinary activities
involve them in acquiring, holding, managing or disposing of investments (as
principal or agent) for the purposes of their businesses or otherwise in
circumstances which have not resulted and will not result in an offer to the
public in the United Kingdom within the meaning of the Public Offers of
Securities Regulations 1995; (ii) it has complied and will comply with all
applicable provisions of the Financial Services Act 1986 and the Public Offers
of Securities Regulations 1995 with respect to anything done by it in relation
to the Securities in, from or otherwise involving the United Kingdom; and (iii)
it has only issued or passed on and will only issue or pass on in the United
Kingdom any document received by it in connection with the issue of the
Securities to a person who is of a kind described in Article 11(3) of the
Financial Services Act 1986 (Investment Advertisements) (Exemptions) Order 1996
or is a person to whom such document may otherwise lawfully be issued or passed
on.

         (d) Each Initial Purchaser acknowledges that no action has been or will
be taken by the Company that would permit a public offering of the Securities,
or possession or distribution of the Preliminary Offering Memorandum, the
Offering Memorandum or any other offering or publicity material relating to the
Securities, in any country or jurisdiction where action for that purpose is
required.

<PAGE>

                                                                       EXHIBIT A

                     [Form of Registration Rights Agreement]

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