Contact Information: Contacts: In China: Matt Feng Investor Relations China Tel: 133-1130-0320 matt.feng@agriacorp.com In the U.S.: David Pasquale Senior Vice President U.S. Tel: +914-337-1117 david.pasquale@agriacorp.com
Agria to Acquire Rights to Two Proprietary Corn Seeds
| Source: Agria Corporation
BEIJING--(Marketwire - June 11, 2008) - Agria Corporation (NYSE : GRO ) (the "Company" or
"Agria"), an innovative China-based agri-solutions provider, today
announced that it has acquired the production and sales rights to two
proprietary corn seeds from NKY Company ("NKY"), a Beijing-based, privately
held company. The financial terms of the acquisition were not disclosed.
The proprietary seeds, JKN2000 and JKN120, were originally developed by the
Beijing Academy of Agricultural Services ("BAAS"), which sold the rights to
NKY in September 2007. The seeds, categorized as a type of fresh sticky
corn seed, were developed for human rather than animal consumption.
Fresh corn is a relatively new and rapidly-growing market in China because
of its nutrition, taste and ease of digestibility. End products are
primarily fresh corn, corn oil, and corn-based drinks and foods, such as
corn ham and corn dumplings, for example.
About Agria Corporation
Agria Corporation (NYSE : GRO ) is an innovative China-based agri-solutions
provider focusing on research and development, production and distribution
of three different types of upstream agricultural products. Its diversified
portfolio of products comprises corn seeds, sheep breeding and seedlings,
including proprietary products developed through its own research and
development capability. The company has access to approximately 27,000
acres of farmland in seven provinces and its extensive distribution network
provides direct or third party distribution in 14 provinces. For more
information about Agria Corporation, please visit www.agriacorp.com.
Safe Harbor Statement:
This announcement contains forward-looking statements. These statements are
made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "confident" and
similar statements. Agria may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and Exchange
Commission on Forms 20-F and 6-K, etc., in its annual report to
shareholders, in press releases and other written materials and in oral
statements made by its officers, directors or employees to third parties.
Statements that are not historical facts, including statements about
Agria's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties. A
number of important factors could cause actual results to differ materially
from those contained in any forward-looking statement. Potential risks and
uncertainties include, but are not limited to, those risks outlined in
Agria's filings with the U.S. Securities and Exchange Commission, including
its Form F-1/A filed on November 2, 2007. All information provided in this
press release is as of June 11, 2008, unless otherwise stated, and Agria
does not undertake any obligation to update any forward-looking statement,
except as required under applicable law.