Exhibit 99.1

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                 TRACTOR SUPPLY COMPANY PROVIDES BUSINESS UPDATE

                ~ ANNOUNCES EXPECTATIONS FOR FIRST HALF OF 2004 ~
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NASHVILLE, TENNESSEE, FEBRUARY 17, 2004 - TRACTOR SUPPLY COMPANY (NASDAQ: TSCO),
the largest retailer serving the lifestyle needs of recreational farmers and
ranchers in the United States, today provided an update on various business
matters.

The Company reiterates its expectation for annual net sales between $1,670
million and $1,690 million, an increase of 13% to 15% over fiscal 2003, and net
income between $68.0 million and $69.3 million before an estimated $2.0 million
after-tax charge for the consolidation and relocation of its store support
center.

With respect to the first half of the year, it is common for sales to shift
between March and April depending on the weather and seasonal patterns in the
markets in which the Company operates. As such, the Company believes evaluating
results on at least a six-month basis is the most accurate way to measure
business performance. The Company currently anticipates first half sales in the
range of $815 million to $825 million. Net income in the first half is expected
to be between $32.0 million and $33.0 million, which would translate into
earnings per diluted share totaling approximately $0.77 to $0.80. During the
first six months of 2004 the Company expects to open approximately 40 new stores
compared to 25 in the first half of 2003. Additionally, the Company is expanding
its field management and store support center staffing and its distribution
center capacity in preparation for future accelerated growth.

Joe Scarlett, Chairman and CEO, stated, "Our first quarter is off to a strong
start that is in line with our original projections for the year. We look
forward to providing a more detailed update when we report our first quarter
results in mid April."

The Company also announced that in conjunction with investment community
meetings as well as the Company's Annual Store Managers meeting during the week
of February 16th the Company has posted an updated investor presentation on its
website, WWW.MYTSCSTORE.COM, under the Investor Relations section.

At December 27, 2003, Tractor Supply Company operated 463 stores in 30 states,
focused on supplying the lifestyle needs of recreational farmers and ranchers.
The Company also serves the maintenance needs of those who enjoy the rural
lifestyle, as well as tradesmen and small businesses. Stores are located in
towns outlying major metropolitan markets and in rural communities. The Company
offers the following comprehensive selection of merchandise: (1) livestock and
pet products, including everything necessary for their health, care, growth and
containment; (2) maintenance products for agricultural and rural use; (3)
hardware and tool products; (4) seasonal products, including lawn and garden
power equipment; (5) truck, trailer and towing products; and (6) work clothing
for the entire family.

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