NEW YORK--(BUSINESS WIRE)--May 30, 2001--Richton International Corporation
(AMEX:RHT) today announced it had entered into an agreement to be acquired by
Deere & Company (NYSE:DE). This transaction is subject to customary conditions
including RHT stockholder approval to be attained at a meeting to be held in the
next several months.

In the merger DE will pay not less than $125 million for RHT's equity and will
assume approximately $45 million of debt for a total consideration of
approximately $170 million.

Shareholders of RHT will have the option of receiving $36.13 (rounded) cash per
share or a stock exchange ratio of no less than .8415 DE share of each RHT
share. The .8415 ratio is based upon a average market price during the pricing
period of $42.94 per share (rounded) of DE stock. If the average market price of
DE stock during the pricing period is more than $42.94 per share, the exchange
ratio remains the same. If such average market price of DE stock is less than
$42.94, RHT shareholders electing to take stock will receive DE stock in an
amount that is necessary to equal a market value of $36.13 per RHT share. No
more than 49% of the RHT shares may be exchanged for cash. For shareholders
electing to receive DE stock the transaction has been structured to qualify as a
tax-free reorganization.

RHT is a diversified service company with three companies in two businesses.
Century Supply Corporation, is a wholesale distributor of irrigation products
and systems. CBE Technologies Inc. and Creative Business Concepts are both
value-added resellers of computer and systems integration products and providers
of networking and consulting services.