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Bayer CropScience and Monsanto Enter Agreement for New Fungicide Seed Treatment Option for Corn Farmers

Posted on: Tuesday, 8 April 2008, 09:02 CDT

ST. LOUIS, April 8, 2008 /PRNewswire-FirstCall/ -- Bayer CropScience LP and Monsanto Company today entered into an exclusive agreement on a new cutting-edge fungicide seed treatment for corn. The treatment, which is expected to be commercialized in conjunction with the planned launch of Monsanto's SmartStax(TM) seed offering in 2010, will provide corn farmers with a significant improvement in early-season protection against seedling diseases and insects.

"We're pleased to be partnering with Bayer CropScience to deliver new seed-based technology to corn farmers," said Carl Casale, executive vice president for Monsanto. "We feel the product will be the best seed treatment package available to match with our corn trait offerings, like SmartStax."

"We look forward to this opportunity to provide growers with advanced technology that combines Bayer CropScience innovation in seed treatment with Monsanto innovation in seed," said Bill Buckner, president and chief executive officer of Bayer CropScience LP. "This combination will help ensure that corn growers have access to the increased options they seek to best control pests, weeds and disease and maximize yields."

The new seed treatment will be based on the Bayer CropScience product Vortex(R), a new fungicide providing enhanced broad spectrum disease control and seed safety for corn seed.

SmartStax combines eight different herbicide tolerance and insect- protection genes into top-performing hybrids for the most complete control ever available to farmers. The improved disease control provided by the new fungicide technology from Bayer CropScience further expands the benefits of the Monsanto hybrids for corn growers.

Under the agreement, Monsanto will have exclusive rights to commercialize the new seed treatment offering under its industry-leading corn brand DEKALB(R) and the regional brands of American Seeds Inc, as well as to license the product through its licensing business which serves more than 180 corn seed companies throughout the United States and Canada.

Vortex will be used in conjunction with Bayer CropScience's seed treatment insecticide Poncho(R), as well as other novel fungicide formulations, to deliver breakthrough seed treatment solutions.

Additional details of today's agreement were not disclosed.

Bayer is a global enterprise with core competencies in the fields of health care, nutrition and high-tech materials. Bayer CropScience AG, a subsidiary of Bayer AG with annual sales of about EUR 5.8 billion (2007), is one of the world's leading innovative crop science companies in the areas of crop protection, non-agricultural pest control, seeds and plant biotechnology. The company offers an outstanding range of products and extensive service backup for modern, sustainable agriculture and for non-agricultural applications. Bayer CropScience has a global workforce of about 17,800 and is represented in more than 120 countries.

Monsanto Company is a leading provider of technology-based solutions and agricultural products that improve farm productivity and food quality. For more information on Monsanto, see http://www.monsanto.com/.

Cautionary Statements Regarding Bayer CropScience Forward-Looking Information:

This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer's public reports which are available on the Bayer website at http://www.bayer.com/. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Cautionary Statements Regarding Monsanto Forward-Looking Information:

Certain statements contained in this release are "forward-looking statements," such as statements concerning Monsanto's anticipated financial results, current and future product performance, regulatory approvals, business and financial plans and other non-historical facts. These statements are based on current expectations and currently available information. However, since these statements are based on factors that involve risks and uncertainties, Monsanto's actual performance and results may differ materially from those described or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, among others: continued competition in seeds, traits and agricultural chemicals; Monsanto's exposure to various contingencies, including those related to intellectual property protection, regulatory compliance and the speed with which approvals are received, and public acceptance of biotechnology products; the success of Monsanto's research and development activities; the outcomes of major lawsuits; developments related to foreign currencies and economies; successful operation of recent acquisitions; fluctuations in commodity prices; compliance with regulations affecting Monsanto's manufacturing; the accuracy of Monsanto's estimates related to distribution inventory levels; Monsanto's ability to fund its short-term financing needs and to obtain payment for the products that it sells; the effect of weather conditions, natural disasters and accidents on the agriculture business or Monsanto's facilities; and other risks and factors detailed in Monsanto's most recent reports on Forms 10-Q and 10-K. Undue reliance should not be placed on these forward-looking statements, which are current only as of the date of this release. Monsanto disclaims any current intention or obligation to update any forward-looking statements or any of the factors that may affect actual results.

SmartStax is a trademark of Monsanto Technology, LLC. DEKALB is registered trademark of DeKalb Genetics Corporation. Herculex is a registered trademark of Dow AgroSciences LLC. Vortex and Poncho are registered trademarks of Bayer.

Monsanto

CONTACT: Danielle Jany of Monsanto Company, +1-314-694-2478; or GregCoffey of Bayer CropScience, +1-919-549-2404

Web site: http://www.monsanto.com/http://www.bayer.com/

Company News On-Call: http://www.prnewswire.com/comp/114341.html

Source: PRNewswire-FirstCall

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