DNAP Holding Corporation (NASDAQ:DNAP) announced today that it had completed the acquisition of the intellectual property assets of United Agricorp, which include certain rights to
genetically engineer traits in University of California strawberry varieties and certain rights to genes for fruit quality and disease resistance. University of California strawberry varieties are planted on approximately 75% of the United States strawberry acreage.

DNA Plant Technology Corporation, a subsidiary of DNAP Holding Corporation, has been performing research for United Agricorp since 1995 in the area of genetic modification of strawberries to improve various traits. The agreed purchase price for United Agricorp’s intellectual property assets was $2.5 million.

“The United Agricorp technologies, in combination with our existing technology rights and know-how make DNAP Holding Corporation a leader in strawberry genetic engineering,” stated Bernardo Jimenez, Chairman of the Board of DNAP Holding Corporation. “We now have access to a wide range of approaches for improving the quality of berries and reducing the quantities of
pesticides used to grow them.”

DNAP Holding Corporation, a publicly traded, majority owned subsidiary of Empresas La Moderna, S.A. de C.V. (NYSE:ELM), is a leading biotechnology company that develops and applies plant science capabilities to improve the quality of fruits and vegetables. DNAP Holding Corporation captures value through its globally integrated fresh produce company, as well as its strategic relationships with its affiliate, Seminis Vegetable Seeds, Inc., and with value-added producers and marketers.

N1423