Landec Corporation (Nasdaq:LNDC), a developer and marketer of technology-based polymer products for food, agricultural and licensed partner applications, announced today that its agricultural subsidiary, Landec Ag, Inc., has received an expanded line of credit to fund the growth of its marketing and coating technology businesses. Old National Bank of Indianapolis, Indiana recently approved a new credit line of $7.5 million for Landec Ag, increasing the current line by $4.5 million.

Tom Crowley, President and CEO of Landec Ag, said, "This expanded credit line will allow us to support the continuing growth of our Intellicoat® seed coating technology business as well as our direct marketing of hybrid seed corn business. Old National has a thorough understanding of the agriculture industry, and has worked with us to support our unique needs. We have an excellent relationship with Old National and this new line of credit will be very important for our new product launches."

Landec Ag commercially launched its third and potentially biggest Intellicoat application, Early Plant(TM) corn last year, and plans to expand its use by farmers through license and supply agreements with other seed companies. Over thirty of the nation's most prominent seed corn companies are testing the technology this spring in anticipation of marketing Intellicoat Early Plant as part of their 2004 seed technology offerings.

The patented Intellicoat Early Plant seed coating is unique because it effectively controls seed germination in cold, early spring soils. When the soil temperature is too cold for healthy seedling growth, the coating protects the seed and restricts it from taking in enough water to germinate. Once the soil temperature warms, the coating changes, allowing water to permeate the seed, and thus promotes germination under optimum conditions.

Intellicoat Early Plant helps farmers alleviate yield loss associated with late corn planting and allows them to better utilize time, labor, and equipment during the most critical time of year.

Separately, Landec's food technology subsidiary, Apio, Inc., has extended its line of credit through August 1, 2003 and is in the process of negotiating a new line with its bank. The new line is expected to be in place within the next 45 days.