BAYER CROPSCIENCE TO DIVEST A LIMITED NUMBER OF CROP PROTECTION PRODUCTS TO UNITED PHOSPHORUS LIMITED

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BAYER CROPSCIENCE TO DIVEST A LIMITED NUMBER OF CROP PROTECTION PRODUCTS TO UNITED PHOSPHORUS LIMITED
30 August 2006 - Bayer MaterialScience AG

Bayer CropScience AG, Monheim, Germany, and United Phosphorous Limited, Mumbai, India, announced today that UPL purchased certain crop protection products from Bayer CropScience. The respective sale and purchase agreements were signed on August 29, 2006. The combined purchase prices total 43.5 million EUR including inventories.

The divestment includes the systemic carbamate herbicidal active ingredient Asulam (brand names Asulox, Asilan) and two insecticidal products. Bayer CropScience has retained certain rights related to non-agricultural uses in strategic markets.

For Bayer CropScience the decision to divest these products is in line with the company´s strategy to focus on higher-margin products and therefore streamlining the portfolio. The acquisition of Bayer CropScience’s divested products is concurrent with UPL’s strategy of enhancing its product portfolio across geography with an intention to offer a broad portfolio of solutions to its customers.

United Phosphorus Limited is the largest Indian agrochemical player and among the top five generic players globally in this industry. It is engaged in research, manufacturing and distribution of agrochemicals and specialty chemicals across the globe. The group´s revenue for the year ending March 2006 was in excess 480 million USD.

Bayer CropScience, a subsidiary of Bayer AG with annual sales of about EUR 6 billion, is one of the world’s leading innovative crop science companies in the areas of crop protection, non-agricultural pest control, seeds and plant biotechnology. The company offers an outstanding range of products and extensive service backup for modern, sustainable agriculture and for non-agricultural applications. Bayer CropScience has a global workforce of about 19,000 and is represented in more than 120 countries.

http://www.bayermaterialscience.com

About: Bayer MaterialScience AG
Bayer Corporation, headquartered in Pittsburgh, is part of the worldwide Bayer Group, an international health care, nutrition and innovative materials group based in Leverkusen, Germany. Bayer employs 23,300 in North America with net North American sales of 8.8 billion euros in 2003. Bayer’s three operating business areas – HealthCare, CropScience and MaterialScience, improve people’s lives through a broad range of essential products that help diagnose and treat diseases, protect crops and advance automobile safety and durability.

Bayer MaterialScience AG is one of the world's largest producers of polymers and high-performance plastics. The main customers for Its innovative developments in coatings, adhesives, insulating materials and sealants, polycarbonates and polyurethanes are the automotive and construction industries, the electrical/electronics segment and manufacturers of sports and leisure goods, packaging, and medical devices.

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