San Diego, California and Brisbane, Australia
December 18, 2002

Diversa Corporation (Nasdaq: DVSA) and BioProspect Limited (ASX: BPO) today announced the signing of a biodiversity access and research collaboration agreement that gives Diversa the right to discover genes from collections of Australian biological material supplied by BioProspect. BioProspect has licenses to collect samples in Australia's two largest states, Western Australia and Queensland, which are known to have some of the world's highest levels of native species as well as species diversity and richness. Australia is considered to be a biological hotspot and is estimated to contain at least two million species of plants, animals, invertebrates and microorganisms, many of which are still unknown or yet to be described. This biota represents nearly one-fifth of the world's biodiversity, with 80% of the terrestrial and aquatic species found nowhere else in the world.

"Through this benefit-sharing agreement, we now have the ability to access the immense biodiversity within Australia, which creates a win-win collaboration with BioProspect," stated Jay M. Short, Ph.D., President and Chief Executive Officer of Diversa Corporation. "By accessing biodiversity globally, Diversa is able to combine discovery of novel genes with laboratory evolution technologies for the development of pharmaceutical and other products."

"We look forward to working with Diversa, a global leader in accessing biodiversity," stated Mr. Selwyn Snell, Chief Executive Officer of BioProspect Limited. "This partnership demonstrates the growing interest of the international biotechnology community in BioProspect's Australian collecting network."

Diversa Corporation is a leader in applying proprietary genomic technologies for the rapid discovery and optimization of novel products from genes and gene pathways. Diversa is directing its integrated portfolio of technologies to the discovery, evolution, and production of commercially valuable molecules with pharmaceutical applications, such as optimized monoclonal antibodies and orally active drugs, as well as enzymes and small molecules with agricultural, chemical, and industrial applications. The Company has formed significant joint ventures with The Dow Chemical Company (named Innovase LLC) and with Syngenta Seeds AG (named Zymetrics, Inc.) focused on near-term commercialization of products for the industrial and agricultural markets, respectively. In addition, the Company has formed alliances with market leaders, such as Celera Genomics, The Dow Chemical Company, DuPont Bio-Based Materials, GlaxoSmithKline plc, Invitrogen Corporation, and Syngenta Biotechnology, Inc.