Exhibit 99.1

                          CAUTIONARY STATEMENT RELATING
                          TO FORWARD-LOOKING STATEMENTS

     Casey's General Stores, Inc. (the "Company") may, in discussions of its
future plans, objectives, and expected performance in periodic reports filed by
the Company with the Securities and Exchange Commission (or documents
incorporated by reference therein) and in written and oral presentations made by
the Company, include projections or other "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as amended, or Section
21E of the Securities Exchange Act of 1934, as amended. These statements reflect
the Company's current views with respect to future events and financial
performance, and are based on management's beliefs as well as assumptions made
by and information currently available to management. The words "believe",
"expect," "anticipate," "intends," "estimate," "project" and similar expressions
are intended to identify forward-looking statements.

     The Company wishes to caution investors that any forward-looking statements
made by or on behalf of the Company are subject to uncertainties and other
factors that could cause actual results to differ materially from such
statements. These uncertainties and other factors include, but are not limited
to, the several factors listed below. Although the Company has attempted to list
the important factors that presently affect the Company's business and operating
results, the Company wishes to caution investors that other factors may in the
future prove to be important in affecting the Company's results of operations.
New factors emerge from time to time and it is not possible for management to
predict all such factors, nor can it assess the impact of each such factor on
the business or the extent to which any factor, or combination of factors, may
cause actual results to differ materially from those contained in any
forward-looking statements.

     Investors are further cautioned not to place undue reliance on such
forward-looking statements, as they speak only of the Company's views as of the
date the statement is made. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.

     In addition to any assumptions and other factors referred to specifically
in connection with such forward-looking statements, factors that could cause the
Company's actual results to differ materially from those contemplated in any
forward-looking statements include, among others, the following:



     Competition. The Company's business is highly competitive, and marked by
ease of entry and constant change in terms of the numbers and type of retailers
offering the products and services found in Company stores. Many of the food
(including prepared foods) and non-food items similar or identical to those sold
by the Company are generally available from a variety of competitors in the
communities served by Company stores, and the Company competes with other
convenience store chains, gasoline stations, supermarkets, drug stores, discount
stores, club stores, mass merchants and "fast-food" outlets (with respect to the
sale of prepared foods). Sales of such non-gasoline items (particularly prepared
food items) have contributed substantially to the Company's gross profits from
retail sales in recent years. Gasoline sales are also intensely competitive. The
Company competes with both independent and national brand gasoline stations in
the sale of gasoline, other convenience store chains and several non-traditional
gasoline retailers such as supermarkets in specific markets. Some of these other
gasoline retailers may have access to more favorable arrangements for gasoline
supply then do the Company or the firms that supply its stores. Some of the
Company's competitors have greater financial, marketing and other resources than
the Company, and, as a result, may be able to respond better to changes in the
economy and new opportunities within the industry.

     Gasoline operations. Gasoline sales are an important part of the Company's
sales and earnings, and retail gasoline profit margins have a substantial impact
on the Company's net income. Profit margins on gasoline sales can be adversely
affected by factors beyond the control of the Company, including the supply of
gasoline available in the retail gasoline market, uncertainty or volatility in
the wholesale gasoline market, increases in wholesale gasoline costs generally
during a period and price competition from other gasoline marketers. The market
for crude oil and domestic wholesale petroleum products is marked by significant
volatility, and is affected by general political conditions and instability in
oil producing regions such as the Middle East and Venezuela. The volatility of
the wholesale gasoline market makes it extremely difficult to predict the impact
of future wholesale cost fluxuations on the Company's operating results and
financial conditions. These factors could materially impact the Company's
gasoline gallon volume, gasoline gross profit and overall customer traffic
levels at Company stores. Any substantial decrease in profit margins on gasoline
sales or in the number of gallons sold by Company stores could have a material
adverse effect on the Company's earnings.

     The Company purchases its gasoline from a variety of independent national
and regional petroleum distributors. Although in recent years the Company's
suppliers have not experienced any difficulties in obtaining sufficient amounts
of gasoline to meet the Company's needs, unanticipated national and
international events could result in a reduction of gasoline supplies available
for distribution to the Company. Any substantial curtailment in gasoline
supplied to the Company could adversely affect the Company by reducing its
gasoline sales. Further, management believes that a significant amount of the
Company's business results from the patronage of customers primarily desiring to



purchase gasoline and, accordingly, reduced gasoline supplies could adversely
affect the sale of non-gasoline items. Such factors could have a material
adverse impact upon the Company's earnings and operations.

     Tobacco Products. Sales of tobacco products represent a significant portion
of the Company's revenues. Significant increases in wholesale cigarette costs
and tax increases on tobacco products, as well as national and local campaigns
to discourage smoking in the United States, could have an adverse affect on the
demand for cigarettes sold by Company stores. The Company attempts to pass price
increases onto its customers, but competitive pressures in specific markets may
prevent it from doing so. These factors could materially impact the retail price
of cigarettes, the volume of cigarettes sold by Company stores and overall
customer traffic.

     Environmental Compliance Costs. The United States Environmental Protection
Agency and several of the states in which the Company does business have adopted
laws and regulations relating to underground storage tanks used for petroleum
products. Substantial costs have been incurred by the Company in the past to
comply with such laws and regulations, and additional substantial costs are
anticipated to be necessary. Several states in which the Company does business
have trust fund programs with provisions for sharing or reimbursing corrective
action or remediation costs. Any reimbursements received in respect of such
costs typically are subject to statutory provisions requiring repayment of the
reimbursed funds for any future non-compliance with upgrade provisions or other
applicable laws. Although the Company regularly accrues expenses for the
estimated costs related to its future corrective action or remediation efforts,
there can be no assurance that such accrued amounts will be sufficient to pay
such costs, or that the Company has identified all environmental liabilities at
all of its current store locations. In addition, there can be no assurance that
the Company will not incur substantial expenditures in the future for
remediation of contamination or related claims that have not been discovered or
asserted with respect to existing store locations or locations that the Company
may acquire in the future, or that the Company will not be subject to any claims
for reimbursement of funds disbursed to the Company under the various state
programs or that additional regulations, or amendments to existing regulations,
will not require additional expenditures beyond those presently anticipated.

     Seasonality of Sales. Company sales generally are strongest during its
first fiscal quarter (May-July) and weakest during its fourth fiscal year
(February-April). In the warmer months of a year, customers tend to purchase
greater quantities of gasoline and certain convenience items such as beer, soft
drinks and ice. Difficult weather conditions in any quarter (such as flooding,
prolonged rain or snow storms), however, may adversely affect sales at Company
stores in the affected regions, and may have an adverse impact on the Company's
net income for that period.



     Minimum Wage Legislation. Any appreciable increase in the federal minimum
wage rate may have a significant impact on the Company's operating results,
particularly in the near term, to the extent the increase in labor expenses
cannot be fully passed along to customers through price increases. Although the
Company has in the past been able to, and will continue to attempt to, pass
along increases in operating costs through price increases, there can be no
assurance that all increases in labor costs can be reflected in prices, or that
price increases will be absorbed by customers without diminishing customer
spending in Company stores.