Tolono, Illinois, USA and China
August 8, 2012

Illinois Foundation Seeds, Inc. (IFSI) and Yuan Longping High-Tech Agriculture Co., Ltd. (LPHT) of China are in discussions to complete a multi-year license agreement. This
agreement will lead to research, product development, licensing and production of IFSI licensed hybrids, inbreds and genetics throughout China.

Currently IFSI has five stations conducting research at prime locations across the Corn Belt in the USA.

The Northern Group is based in Wright County Iowa, Henry County Illinois and Dane County Wisconsin.

The Southern locations are Seward County Nebraska and Champaign County Illinois.

These stations are developing high yielding competitive hybrids from 95 days to 115 days in maturity.

In addition to these stations winter nurseries are conducted in Florida, Hawaii, Puerto Rico, Argentina, Chile and Mexico.

IFSI has testing and license agreements on 6 continents.

Yuan Longping High-Tech Agriculture Co., Ltd. (Longping High-Tech Stock Code 000998) was established on June 30, 1999, which has been audited by the Ministry of Science and Technology of P.R. China and confirmed by the hearing argument of High-tech enterprise of Chinese Academy of Sciences. It consists of Hunan Longping High-tech Nongping Seeds Industry Co., Ltd., Hunan Xiangyan Seeds Industry Co., Ltd., Hunan Longping High-tech Cotton & Rape Seeds Industry Co., Ltd., Agrochemical Development Company, Hunan Nongwei Science and Technology Co., Ltd., Hunan Kangyida Science and Technology Co., Ltd. and Hunan Longke Agricultural Materials Co., Ltd. and other operating organizations.

Longping High-tech is tightly holding the strategy requirement of Optimizing & Upgrading in agriculture industry. To obey the managing theory of "Create infinity & Benefit mankind”, Long ping High-Tech mainly focusing on the new crops variety breeding or innovation; seeds multiplication; seeds sales and extension system of hybrid rice, hybrid pepper, hybrid rape, hybrid corn, hybrid cotton, musk melon and vegetables with high quality etc .Till the end of 2011, the total assets of Longping High-Tech has reached at 2.98 billion Chinese yuan, and the sales revenue has reached at 1.5 billion Chinese yuan.

The company operates six corn breeding stations and seven corn seed processing facilities which are strategically located across the major corn planting zones of China.

LPHT is dedicated to providing the best corn genetics to Chinese farmers and this agreement will ensure that LPHT will have access to leading corn genetics and breeding technology from North America. LPHT views this as a long term strategic relationship that can expand to meet new opportunities over time.

Under the terms of the agreement LPHT Research personnel will have the opportunity to train at IFSI’s research stations in the United States and IFSI research personnel will cooperate with LPHT in China to help increase corn yields.

The license agreement will help open up opportunities to access additional corn genetics through IFSI and LPHT and develop new corn products for China’s farmers.

The companies will also develop additional licenses and technology agreements that create new business opportunities for both parties.

“Illinois Foundation Seeds, Inc. is proud to work with Yuan Long Ping High-Tech Agriculture CO., LTD to create opportunities in research and development of genetics in China and throughout the world.

This relationship confirms IFSI’s and LPHT’s commitment to the agriculture community in China.

Website: http://www.lpht.com.cn/Channel.aspx?ChId=9

Published: August 28, 2012