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Performance Plants Inc. has entered into a licensing agreement with Syngenta Seeds, Golden Valley, Minnesota for development of drought tolerant corn and soybean seeds using Performance Plants’ Yield Protection Technology™ (YPT™).

The deal follows four years of successful field trials by Performance Plants, which have shown YPT™ to be highly effective in preserving yields under conditions of drought stress.

“The field results indicate that commercial corn and soybeans can be developed that will withstand the effects of drought, significantly improve water use efficiency and generate powerful boosts in crop performance and yields.” said David Dennis, President and Chief Executive Officer, Performance Plants.

A trait that enables plants to withstand dry seasons without suffering yield drag under normal moisture conditions will be a major development for growers, especially as renewable fuels create greater demand for corn and soybeans. Performance Plants and Syngenta Seeds expect that the trait will allow growers who irrigate to use less water. It will also offer growers the opportunity to convert marginal acres into more productive cropland.

YPT™ protects crops exposed to drought conditions by stimulating early closure of leaf stomata prior to wilting. YPT™ canola, extensively field tested in multiple sites, shows consistent yield increases up to 26% without impacting seed or agronomic characteristics. The YPT™ trait is now moving into field trials in corn, soybean, turf and ornamentals.

Performance Plants Inc., a privately held Ag-biotechnology company, focuses on the development of agronomically important plant traits. Performance Plants creates value by bringing innovative crop technologies to the market. The company’s head office and Gene and Trait Discovery Centre are located in Kingston, Ontario, Canada. Its Crop Development Centre is in Saskatoon, Saskatchewan, Canada. Additional information is available at http://www.performanceplants.com. Yield Protection Technology™ is a trademark of Performance Plants, Inc.

Syngenta Seeds, Inc. and Performance Plants to collaborate for development of drought tolerant crops

Syngenta has entered into a licensing agreement with Performance Plants Inc., Kingston, Ontario, Canada for development of drought tolerant corn and soybeans using Performance Plants’ Yield Protection Technology™.

“This adds to the Syngenta drought traits research portfolio and is a step forward toward us being the first seed company to bring drought tolerant hybrids to corn growers,” said Ioana Tudor, global head of corn, soybean and cotton traits. Tudor added that the agreement with Performance Plants is the latest in a series of research collaborations Syngenta has initiated to develop drought tolerant crops. “We’re continually looking for opportunities to combine our technology with others to develop new products that will allow growers to increase their productivity.”

A trait that enables plants to withstand dry seasons without suffering yield drag under normal moisture conditions will be a major development for growers, especially as renewable fuels create greater demand for corn and soybeans. Syngenta expects that its trait will allow growers who irrigate to use less water. It will also offer growers the opportunity to convert marginal acres into more productive cropland.

Performance Plants has conducted four years of successful field trials showing the Yield Protection Technology™ to be highly effective in preserving yields under conditions of drought stress. According to Performance Plants, a privately held agricultural biotechnology company, the technology protects crops exposed to drought conditions by stimulating early closure of leaf stomata prior to wilting.

Just as drought tolerance will be a significant technical breakthrough and a major advancement for crop productivity, it is also an exciting area of research and development, says Tudor. “Syngenta is pursuing many options to identify the multiple ways drought and other stresses affect a plant and how to provide protection through native traits and transgenic solutions. Through years of field tests, we have identified several promising leads that are being advanced towards development.”

Syngenta is a world-leading agribusiness committed to sustainable agriculture through innovative research and technology. The company is a leader in crop protection, and ranks third in the high-value commercial seeds market. Sales in 2005 were approximately $8.1 billion. Syngenta employs some 19,000 people in over 90 countries. Syngenta is listed on the Swiss stock exchange (SYNN) and in New York (SYT). Further information is available at www.syngenta.com.