Devgen completes acquisition of seed assets from Monsanto subsidiaries in India and Monsanto Company subscribes to Devgen shares.

Ghent, Belgium, October 31, 2007 - Devgen today announced it has completed the acquisition of certain Monsanto assets in India. Devgen also announced that Monsanto Company subscribed to 1,045,400 Devgen shares at a price of ¤ 17.22 per share. Devgen has finalized the acquisition of Monsanto's hybrid rice, sunflower, sorghum and pearl millet businesses and certain other assets in India, as announced on September 14, 2007. The acquisition of business assets in Pakistan and the Philippines will be completed upon incorporation of local affiliates. In a separate transaction, Monsanto Company has subscribed to Devgen shares in the amount of 18 million ¤ (US$ 25 million), representing 5.9% of the outstanding capital of Devgen. The new shares were issued and paid for on October 31, 2007. Devgen will apply for admission of the new shares on Eurolist by Euronext Brussels. About Devgen Devgen is a top 10 public agro biotech company with agricultural business units focused on developing and commercializing: * a novel generation of biotech products to protect a wide spectrum of crops from damage incurred from pests; * biotech traits and germplasm to meet the growing needs for high yielding, high quality hybrid rice and selected small grains in India and S.E. Asia; * agro-chemical products with a safer and more environmentally friendly profile to protect crops from damage inflicted by plant parasitic nematodes. Devgen's biopharmaceutical division develops a new class of preclinical drug candidates, based on novel therapeutic concepts, for treatment of a range of inflammatory and metabolic disease (diabetes, obesity) and arrhythmia. Devgen has entered into partnerships with industry leaders in biotechnology and agro chemistry. Incorporated in 1997, Devgen has offices in Ghent (Belgium), Singapore and Hyderabad (India), with a total work force of about 160 people, including Devgen Seeds and Crop Technology in India. Devgen is listed on Eurolist by Euronext Brussels (ticker: DEVG) since June 2005. For more information on Devgen, please visit the company's web site: For more information, please contact: Hilde Windels, CFO +32 9 324 24 24