PICO Holdings, Inc. Announces Definitive Agreements to Build a Canola Processing Plant

PICO Holdings, Inc. PICO announced today that it has secured a $100 million non–recourse, senior secured construction loan facility and completed the acquisition of Northstar Agri Industries. PICO previously announced this transaction in its press release on September 21, 2010. Northstar Agri Industries is an agribusiness concern that will build and operate a canola processing plant with an integrated refinery near Hallock, Minnesota. The plant is expected to be operational by the fourth quarter of 2012.