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USDA approves Syngenta and John Deere for broadened biotechnology endorsement for corn crop insurance
Posted by: Prof. Dr. M. Raupp (IP Logged)
Date: August 20, 2008 07:05PM

Syngenta Seeds, Inc. and John Deere Risk Protection, Inc. announced
yesterday that the U.S. Department of Agriculture's Federal Crop Insurance
Corporation (FCIC) has approved Syngenta Agrisure(R) and other approved
biotech corn seed brands for a broadened crop insurance endorsement that
provides insurance premium discounts to farmers.
This extends the program for discounts of certain federally-reinsured crop
insurance policies and simplified terms to growers who use multiple biotech
corn suppliers.

John Deere Risk Protection, which insures growers against yield risks, and
Syngenta, jointly submitted the insurance proposal to the FCIC earlier this
year. The crop insurance premium discount for growers of Agrisure seeds will
initially be offered in Iowa, Illinois, Indiana, Minnesota, Nebraska, South
Dakota and Wisconsin. Additional program details will be announced this
fall.

"The FCIC's approval of Agrisure and other traited corn seeds acknowledges
reduced risk for growers," said Steve Ligon, Head, Syngenta Seeds Corn and
Soybean Commercial Operations. "We worked with John Deere Risk Protection to
create a better opportunity for growers to access crop insurance discounts.
A unified endorsement aligns with growers' preferences for choice and the
crop insurance industry's need for consistent policies across seed brands."

Mark Raymie, Director of Business Operations, John Deere Risk Protection, a
managing general agent, said that approval of additional biotech seeds for a
premium discount balances the interests of seed suppliers, insurers, agents,
the Risk Management Agency and growers to create fair competition and broad
choice. "The approval of this endorsement by the FCIC should spark
additional discussions regarding how technology can impact risk reduction
regardless of the technology provider," said Raymie. "We look forward to
conversations that take into consideration the value of choice for growers,
importance of market competition, and implementation considerations faced by
the crop insurance industry."

Ron Litterer, President of the National Corn Growers Association, said the
FCIC decision is a win for growers and the industry overall. "We applaud the
work of Syngenta, John Deere Risk Protection and the FCIC and RMA in
extending access to the Risk Management Biotechnology Endorsement to growers
across a wider portion of the Corn Belt."

About Syngenta
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 2007 were approximately $9.2 billion. Syngenta
employs over 21,000 people in more than 90 countries. Syngenta is listed on
the Swiss stock exchange (SYNN) and in New York (NYSE: SYT). Further
information is available at www.syngenta.com.

About John Deere Risk Protection, Inc.
John Deere Risk Protection, Inc. is a subsidiary of John Deere (Deere &
Company-NYSE: DE), the world's leading provider of advanced products and
services for agriculture and forestry and a major provider of advanced
products and services for construction, lawn and turf care, landscaping and
irrigation. John Deere also provides financial services worldwide and
manufactures and markets engines used in heavy equipment. Since it was
founded in 1837, the company has extended its heritage of integrity,
quality, commitment and innovation around the globe.

Forward-Looking Statements
This document contains forward-looking statements, which can be identified
by terminology such as 'expect', 'would', 'will', 'potential', 'plans',
'prospects', 'estimated', 'aiming', 'on track' and similar expressions. Such
statements may be subject to risks and uncertainties that could cause the
actual results to differ materially from these statements. We refer you to
Syngenta's publicly available filings with the U.S. Securities and Exchange
Commission for information about these and other risks and uncertainties.
Syngenta assumes no obligation to update forward-looking statements to
reflect actual results, changed assumptions or other factors. This document
does not constitute, or form part of, any offer or invitation to sell or
issue, or any solicitation of any offer, to purchase or subscribe for any
ordinary shares in Syngenta AG, or Syngenta ADSs, nor shall it form the
basis of, or be relied on in connection with, any contract therefor.
www.checkbiotech.org



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