DuPont Business Pioneer and Pannar Seed Appeal South African Competition Tribunal Decision

DES MOINES, Iowa, and JOHANNESBURG, South Africa, Nov. 9, 2011 – DuPont business Pioneer Hi-Bred and Pannar Seed (Pty) Limited filed appeal documents with the South African Competition Appeal Court today to appeal the Oct. 14 decision by the South African Competition Tribunal, which prohibited Pioneer’s proposed acquisition of a majority share of Pannar, thereby upholding an earlier decision by the South African Competition Commission. The partnership has been approved by regulatory authorities in Kenya, Malawi, Namibia, Swaziland, Tanzania, and Zambia.

“Pioneer has a long history of bringing global solutions and innovation to bear through a sustainable, local market approach,” said Pioneer President Paul E. Schickler. “We are committed to increasing agricultural productivity in South Africa and throughout Africa and firmly believe this partnership would supply farmers with better seed products faster and more efficiently than either Pioneer or Pannar could do on its own.”

“Pannar has been a family-run business operating in Africa for more than 50 years,” said Brian Corbishley, Pannar chairman. “We are keenly aware of the challenges facing small-scale and commercial farmers in South Africa and Africa and are confident that this partnership would benefit our customers and our employees by bringing cutting-edge technology and additional research investment to South Africa, thus giving South Africa the opportunity to remain a seed technology leader for the continent, as well as an effective export competitor on world grain markets.”

Pioneer and Pannar believe that compelling evidence was provided during the three-week hearing that the transaction would not be anticompetitive. The Competition Tribunal indicated that it will release the reasons for its decision in the coming weeks. Pioneer and Pannar reserve the right to amend and supplement their appeal after reviewing the Tribunal’s reasoning.

Pannar Seed (Pty) Limited (www.pannar.com) was founded in 1958 in Greytown, South Africa, an agricultural community situated in KwaZulu-Natal, on the Eastern Seaboard of South Africa. Pannar is a South African-based seed business with operations throughout Africa and internationally. It has its own seed businesses in nine countries in Africa, including South Africa, and sells through established marketing networks into nine other African countries. In addition to its extensive research infrastructure in Africa, it also conducts research activities in the United States and Argentina, (it also sells seed in Argentina) and has a maize genetics licensing business in the United States and Europe.

Pioneer Hi-Bred (www.pioneer.com), a DuPont business headquartered in Des Moines, Iowa, is the world’s leading developer and supplier of advanced plant genetics, providing high-quality seeds to farmers in more than 90 countries. Pioneer provides agronomic support and services to help increase farmer productivity and profitability and strives to develop sustainable agricultural systems for people everywhere. Science with Service Delivering Success™.

DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit www.dupont.com.

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11/9/11