AMERICAN CRYSTAL SUGAR COMPANY INDICATION OF INTEREST IN PURCHASING SHARES OF PREFERRED STOCK FOR QUALIFYING SMALL GROWER THE APPLICANT HEREBY REPRESENTS AND AGREES THAT (I) THE UNDERSIGNED IS NOT AN ENTITY SUCH AS A CORPORATION, PARTNERSHIP OR JOINT VENTURE; (II) THE UNDERSIGNED IS ELIGIBLE OR CONTINUES TO BE ELIGIBLE FOR MEMBERSHIP IN AMERICAN CRYSTAL SUGAR COMPANY (THE "COMPANY") AS OF THE DATE HEREOF, AND DESIRES TO SUBSCRIBE FOR THE PURCHASE OF FIFTY (50) SHARES OF THE COMPANY'S PREFERRED STOCK, AT A PRICE OF $1,500.00 PER PREFERRED SHARE, WITH SUCH PURCHASES TO BE PART OF THE COMPANY'S PUBLIC OFFERING OF COMMON STOCK AND PREFERRED STOCK, ALL AS DESCRIBED IN THE COMPANY'S OCTOBER, 1996 PROSPECTUS AND ANY SUPPLEMENTS; (III) THE UNDERSIGNED QUALIFIES AS A "SMALL GROWER" AS SUCH TERM IS DEFINED IN THE ACCOMPANYING SUBSCRIPTION DOCUMENT E AND (IV) THE UNDERSIGNED UNDERSTANDS THAT SUCH SHARES OF PREFERRED STOCK (AND COMMON STOCK, IF NECESSARY) WILL BE AVAILABLE ONLY IF THIS RESPONSE IS RANDOMLY DRAWN IN A DRAWING TO BE HELD BY THE COMPANY AND THAT, WITHIN TWENTY (20) DAYS OF THE DATE OF THE NOTICE INDICATING THAT THE UNDERSIGNED IS ENTITLED TO PURCHASE THE SHARES, THE UNDERSIGNED MUST PAY THE PURCHASE PRICE OF SUCH SHARE OF COMMON STOCK AND THE SHARES OF PREFERRED STOCK. THE UNDERSIGNED ALSO AGREES THAT HE OR SHE SHALL BE THE INDIVIDUAL OWNER OF THE SHARES LISTED ABOVE AND THAT SUCH SHARES MAY NOT BE TRANSFERRED UNTIL AFTER THE HARVEST OF THE 1997 SUGARBEET CROP. SHAREHOLDER NAME: ADDRESS: ____________________________________________ (SIGNATURE) DATED:________________________________, 1996 TELEPHONE:__________________________________ FACTORY DISTRICT:___________________________ THIS INDICATION OF INTEREST MUST BE ACCOMPANIED BY SUBSCRIPTION DOCUMENT E AND MUST BE RECEIVED BY THE COMPANY AT ITS CORPORATE OFFICE, 101 NORTH THIRD STREET, MOORHEAD, MINNESOTA 56560, NO LATER THAN NOVEMBER 22, 1996 AT 5:00 P.M. PAYMENT FOR THE SHARES LISTED ABOVE IS NOT REQUIRED AT THIS TIME BUT WILL BE REQUIRED WITHIN TWENTY (20) DAYS OF NOTICE THAT THE REQUESTED SHARES ARE AVAILABLE FOR PURCHASE.