SOURCE: Devgen

October 13, 2009 02:22 ET

Devgen nv and PT (Persero) Sang Hyang Seri obtain registration approval of two hybrid rice varieties in Indonesia.

GHENT, BELGIUM--(Marketwire - October 13, 2009) -

Ghent - Jakarta, October 13, 2009. Devgen nv (EURONEXT, Brussels: DEVG) and PT (Persero) Sang Hyang Seri (SHS) today announce that 2 premium hybrid rice varieties, DG 1 SHS and DG 2 SHS have been granted registration for commercial sale in Indonesia.

This result follows large scale trials of Devgen's pipeline of rice hybrids in 10 locations across Indonesia. As part of the Devgen - PT (Persero) Sang Hyang Seri research cooperation, these products have been extensively evaluated a.o. for yield, disease resistance and grain quality, all critical parameters for the Indonesian farmer. Hybrid seed varieties DG 1 SHS and DG 2 SHS were approved by the Indonesian Ministry of Agriculture in accordance with its stringent standards for new rice hybrid varieties. The hybrid seeds will be distributed in Indonesia by PT (Persero) Sang Hyang Seri under Devgen's brand name Frontline. Product launch and first sales are targeted as planned for late Q4 09/Q1 2010.

"The availability of hybrid rice products that are well adapted to the local environment, that meet farmers' needs while providing a good value proposition is a prerequisite to the effective introduction of hybrid rice in Indonesia" says Devgen's CEO, Thierry Bogaert "We are confident that DG 1 SHS, DG 2 SHS and other products in our pipeline will mark a turning point for hybrid rice in Indonesia." "We are proud to have developed and registered these products together with Devgen." says PT (Persero) Sang Hyang Seri's President Director, Mr. Eddy Budiono "As per government guidance, we are committed to provide the Indonesian farmer with hybrid rice products that increase yield and productivity. These hybrid seeds are amongst the best in the world. We will scale up the production to fulfill Indonesia and export markets so that the world food supply is increased as a result of using these high productivity seeds-which also produce good taste rice"

About PT (Persero) Sang Hyang Seri

PT (Persero) Sang Hyang Seri is a government wholly owned company dealing with seed, fertilizer and agrochemicals with offices and farms across Indonesia.

About Devgen nv

Devgen's mission is to enable farmers to sustainably grow more food on less land, with less water, agrochemicals and labour.

Devgen uses advanced biotechnology and molecular breeding technology to make high yielding seeds and crop protection solutions with a superior environmental profile.

Devgen brings this technology to the market in the world's major food and feed crops through two complementary strategies:

- Licensing Devgen technology for use in corn, cotton and soy and selected other crops in exchange for R&D funding, and milestone and royalty payments.

- Producing and selling its premium hybrid seeds in major field crops such as rice, sunflower, sorghum, and pearl millet, in the Indian subcontinent and South-East Asia.

In its Crop Protection unit, Devgen developed and has taken to market a novel nematicide, an agro-chemical product that protects crops from damage by parasitic nematodes.

Incorporated in 1997, Devgen has offices in Ghent (Belgium), Singapore, Hyderabad (India) and Delaware (US) and employs more than 200 people.

For more information please contact:

Thierry Bogaert, CEO       Wim Goemaere, CFO
Tel. +32 9 324 24 24       Tel. +32 9 324 24 24

Or visit:

This press release may contain forward-looking statements containing the words "anticipates", "expects" , "intends", "plans", "estimates", "may" and "continues" as well as similar expressions. Such forward looking statements may involve known and unknown risks, uncertainties and other factors which might cause the actual results, performance or achievements of Devgen to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, among others: agricultural risks and difficulties, including weather factors, diseases and pests, the costs and requirements of regulatory compliance and the speed with which approvals are received; public acceptance of biotechnology products; political, economic and social developments in countries where Devgen operates and other risks and factors detailed in the company's most recent annual report.

These forward looking statements speak only as of the date of publication of this document. Devgen disclaims any obligation to update such forward looking statements in this document to reflect any change in its expectations, conditions or circumstances on which such statement is based, unless required by law or regulation. 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 securities issued by Devgen NV.

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