Nufarm and Etigra Reach Agreement on Asset Acquisition

March 5, 2008

(Cary, NC)

Nufarm Americas Inc and North Carolina based Etigra announced today that they have reached agreement for Nufarm to acquire the assets of Etigra. A letter of intent has been executed, with all commercial matters agreed. Final legal documentation has not yet been completed; however no substantive impediments to the completion of this purchase are anticipated.

Etigra is a privately-owned supplier of crop-protection products, specializing in the US turf and specialty markets.

This proposed acquisition will strengthen Nufarm’s existing position in the turf and specialty segment by providing additional products and a complementary distribution platform.

Nufarm's Managing Director, Doug Rathbone, said Etigra is an excellent business and a great fit for Nufarm’s US growth objectives.

"The US turf and specialty segment represents a market of some US$1.9 billion for the products we supply, making it a very significant and valuable market for the products we produce.”

"A number of Etigra’s product registrations will enable us to secure additional positions in important crop segments, including the cotton market. Some 60 percent of Etigra revenues are based on sales of fungicides and insecticides, complementing Nufarm’s predominantly herbicide portfolio."

Nufarm Americas President, Dale Mellody, said he looks forward to working with the Etigra team to deliver significant value to the existing distribution customers of both companies.

"Etigra will bring a portfolio of more than 50 products; excellent distribution relationships; and a team of very experienced and capable people. It has established a strong reputation for high quality products and very high standards of service,” Mr Mellody said.

Etigra CEO, JJ Grow said that they recognised a strong cultural alignment between Nufarm and Etigra that will allow the work achieved by Etigra so far to move to another level.

Etigra COO, Randy Canady said that Nufarm and Etigra have a combined vision of building a sustainable portfolio of post-patent and branded products and continuing to create tailored offers that meet customers’ and suppliers’ needs.

“Beyond the combined portfolios, we feel the companies’ combined talent will serve customers very well,” Mr. Canady said.

Nufarm and Etigra expect to conclude a sale and purchase agreement and have the transaction finalised by the end of March.