Delta & Pine (NYSE:DLP)
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Delta and Pine Land Ready to Capitalize on Changes in Brazilian
Market
Brazilian President Signs Biosafety Law and Regulatory Agency Clears Hurdle for
Sales of Bollgard Trait for Cottonseed
SCOTT, Miss., March 28 /PRNewswire-FirstCall/ -- Delta and Pine Land Company
(NYSE: DLP; "D&PL"), a leading commercial breeder, producer and marketer of
cotton planting seed, today announced that Brazilian President Luis Inacio Lula
da Silva signed a law governing biosafety in the Brazilian market. This action
follows Brazil's National Commission For Biosafety (CTNBio) approval on March
17 of the Bollgard gene for sale in cotton.
"Brazil's new biosafety law, coupled with CNTBio's approval, establish the
framework for D&PL to register our varieties containing the Bollgard gene,"
said Tom Jagodinski, President and Chief Executive Officer. "While we await
the final regulations, we believe, under current regulations, transgenic
varieties may be available for sale in 2007."
D&PL conventional products are among the top selling cotton varieties in
Brazil. The Company has the license to develop and commercialize varieties
containing Monsanto's Bollgard and Roundup Ready genes in Brazil.
Commercialization of varieties containing the traits, when approved, will be
achieved through MDM Sementes De Algodao Ltda., D&PL's joint venture with the
Maeda S.A. Agroindustrial. There are approximately 2.2 million acres planted
in cotton in Brazil.
About Delta and Pine Land Company
Delta and Pine Land Company is a leading commercial breeder, producer and
marketer of cotton planting seed. Headquartered in Scott, Mississippi, with
multiple offices in eight states and facilities in several foreign countries,
D&PL also breeds, produces and markets soybean planting seed in the U.S. For
more information about D&PL, please refer to the Company's website at
http://www.deltaandpine.com/ .
Certain matters discussed in this release are "forward-looking statements,"
including statements about the Company's future plans, goals and other events
which have not yet occurred. These statements are intended to qualify for the
safe harbors from liability provided by the Private Securities Litigation
Reform Act of 1995. They can generally be identified because the context of
such statements will include words such as "believes," "anticipates," "expects"
or words of similar import. It is the nature of agricultural seed businesses
that supply, demand and their timing are affected by many variables, including
commodity prices, weather and government policy. Due to the seasonal nature of
the seed business, the Company typically incurs losses in its first and fourth
quarters. Additional risks and uncertainties with respect to the Company's
business and forward-looking statements are set forth in the Company's latest
filings with the Securities and Exchange Commission.
DATASOURCE: Delta and Pine Land Company
CONTACT: Investors - Tom Jagodinski, Delta and Pine Land Company,
+1-662-742-4518; Media - Jonathan Gasthalter or Amy Cohen, Citigate Sard
Verbinnen, +1-212-687-8080, for Delta and Pine Land Company
Web site: http://www.deltaandpine.com/