RiceTec Signs Licensing Agreement to Field Test Drought Resistant Rice

Kingston, Ontario, June 5, 2008 — RiceTec Inc. and Performance Plants Inc. (PPI) today announce an agreement to develop drought-tolerant rice using Performance Plants' Yield Protection Technology® (YPT®).

YPT™ helps protect plants against the damaging effects of drought. A unique feature of this patented technology is that it uses a plant's own genes to enhance its natural response mechanism to drought. YPT® makes plants able to tolerate by dry conditions better and recover faster when watered. Extensive field testing by PPI in other crops and ornamental species consistently shows up to 25% seed yield increases under drought conditions.

"The partnership with PPI will allow us to explore, evaluate and hopefully yet further improve the stability of hybrid performance in drought/stressed conditions, giving RiceTec Hybrid Seed another positive attribute that means quality, high-yielding performance while at the same time, minimizing production risk for our customers," said John Nelsen, RiceTec President and CEO.

Under the terms of the agreement, RiceTec will develop YPT® rice lines and evaluate their performance under dry land conditions in their proprietary, elite germplasm.

"We are very pleased to be working with RiceTec on this research project," said Peter Matthewman, President, PPI. "It reaffirms the effectiveness of our technology and its ability to help crops flourish under less than ideal growing conditions."

According to Matthewman, the company has previously licensed YPT® for application in corn, soybean, turfgrass and ornamentals.

About RiceTec Inc.

RiceTec Inc. is an integrated rice company specializing in the breeding, development, production and marketing of high-value rice products. Headquartered in Alvin, Texas, the company operates the primary research centre for RiceTec AG, an international rice technology venture. RiceTec Inc. is the first company to commercialize hybrid rice seed in the United States.

About Performance Plants Inc.

Performance Plants Inc. is a global leader in agricultural and biofuel technology development. The company's patented technologies weatherproof food and biofuel crops through periods of drought and heat stress resulting in a more abundant, consistent and profitable harvest for farmers and feedstock suppliers. The company has licensed its breakthrough technologies to some of the world's leading seed companies such as Syngenta, Stine and Scotts Miracle Gro. The company is privately held with laboratory and research facilities in Ontario and Saskatchewan, Canada.

For more information:


John Nelson

Performance Plants Inc:

Brenda Pergantes


Kevin Gellatly