Monsanto and Evogene Extend and Expand Collaboration for Crop Improvement

  Monsanto and Evogene Extend and Expand Collaboration for Crop Improvement

 Extension of existing collaboration covering yield, environmental stress and
  fertilizer utilization in corn, soybean, cotton and canola to August 2016

 Expansion of the collaboration to include a program for resistance to Stalk
                    Rot disease caused by Fusarium species

Business Wire

ST. LOUIS & REHOVOT, Israel -- October 28, 2013

Monsanto Company and Evogene Ltd. (TASE: EVGN) announced today the extension
and expansion of their research and development collaboration. The
collaboration, initially signed in 2008 and later extended in 2011, has
focused on identifying key plant genes related to yield, environmental stress
and fertilizer utilization in corn, soybean, cotton and canola. The newly
signed agreement extends these existing programs through to August 2016, and
adds a new five year program for the identification of genes providing
resistance to Stalk Rot disease in corn, caused by multiple Fusarium species.
Fusarium is a family of fungi that causes significant yield loss across the
world’s major crops.

"We are extremely pleased with Monsanto’s decision to again extend our
excellent broad collaboration in the areas of yield and abiotic stress
tolerance with respect to the four major field crops," said Ofer Haviv,
Evogene's President and CEO. "The addition of a new discovery program focused
on Fusarium resistance is another indication of Evogene’s growing commitment
and activities targeted at biotic stress related conditions, and the broad
applicability of our unique technology platform.”

“Agricultural innovation will be key to helping meet growing global demand,”
added David Fischhoff, Monsanto Technology Strategy Development Lead. “Through
the combination of Evogene’s gene discovery technologies with our company’s
trait development expertise, this collaboration is focused on developing new
tools that help farmers drive yields even further.”

Terms of the revised collaboration agreement include:

  *Evogene will provide Monsanto with candidate genes that are predicted to
    improve yield, fertilizer utilization and plant resistance to
    environmental stress. Monsanto will receive exclusive license rights to
    develop and commercialize the candidate genes as part of Monsanto's trait
    pipelines for corn, soybean, canola, and cotton.
  *Evogene will also provide Monsanto with candidate genes predicted to
    provide resistance to Stalk Rot disease caused by multiple Fusarium
    species. Monsanto will receive exclusive license rights to develop and
    commercialize the candidate genes as part of Monsanto’s trait pipeline for
    corn.
  *For all collaboration programs, Evogene will utilize its ATHLETE™
    computational technology for gene discovery, and its Gene2Product™
    platform for optimizing trait efficacy and accelerating the product
    development process.
  *Evogene will be entitled to receive both milestone payments and royalty
    payments for all successful candidate genes emerging from the
    collaboration that are developed and commercialized by Monsanto. Evogene
    will also receive additional research and development payments to support
    the increased activities.

The prior agreement included a put option giving Evogene the right, under
defined conditions, to sell one million Evogene shares to Monsanto at $12 per
share. The prior put option has been cancelled in exchange for an increase in
all future milestone payments and royalty rates with respect to genes licensed
by Evogene to Monsanto. The prior put option has been replaced with a new $12
million put option under which shares will be sold at market value at time of
exercise (subject to set minimum and maximum prices).

About Evogene Ltd.

Evogene is a plant genomics company, utilizing a proprietary integrated
technology infrastructure to enhance seed traits underlying crop productivity.
Evogene offers a complete solution for crop productivity improvement through
biotechnology and advanced breeding using a unique technology infrastructure
that is based on deep scientific understandings of plant genomics and
proprietary computational capabilities. The Company has strategic
collaborations with world-leading agricultural companies to develop improved
seed traits in relation to yield and a-biotic stress (such as tolerance to
drought), and biotic stress (such as resistance to disease), in key crops such
as corn, soybean, wheat and rice. In addition, Evogene has earlier stage
operations in agriculture chemicals, and seeds focusing on second generation
feedstock for biodiesel. The Company's headquarters are located in Rehovot,
Israel and the Company is listed for trading on the Tel Aviv Stock Exchange
(TASE: EVGN). For additional information, please visit Evogene’s website at
www.evogene.com.

About Monsanto Company

Monsanto Company is a leading global provider of technology-based solutions
and agricultural products that improve farm productivity and food quality.
Monsanto remains focused on enabling both small-holder and large-scale farmers
to produce more from their land while conserving more of our world’s natural
resources such as water and energy. To learn more about our business and our
commitments, please visit: www.monsanto.com. Follow our business on Twitter®
at www.twitter.com/MonsantoCo, on the company blog, Beyond the Rows at
www.monsantoblog.com, or subscribe to our News Release RSS Feed.

As it applies to Evogene Ltd., this press release contains "forward-looking
statements" relating to future events.Thesestatements may be identified by
words such as "may," “expects,”"intends,"“anticipates,” “plans,”“believes,”
“scheduled,” “estimates” or words of similar meaning.Suchstatements are
based on current expectations, estimates, projections and assumptions,
describeopinions about future events,involve certain risks and uncertainties
which are difficult to predictand are not guarantees of future performance.
Therefore, actual future results,performance or achievements of Evogene may
differ materially from what isexpressed or implied bysuchforward-looking
statements due to a variety of factors,many of which are beyond Evogene's
control,including, without limitation,those risk factorscontained in
Evogene’sreports filed with the Israeli SecuritiesAuthority.Evogene
disclaims any obligation or commitment to update these forward-looking
statements to reflect future events or developments orchanges in
expectations, estimates, projections and assumptions.

As it applies to Monsanto Company, this press release contains
"forward-looking statements," such as statements concerning the company's
anticipated financial results, current and future product performance,
regulatory approvals, business and financial plans and other non-historical
facts. These statements are based on current expectations and currently
available information. However, since these statements are based on factors
that involve risks and uncertainties, the company's actual performance and
results may differ materially from those described or implied by such
forward-looking statements. Factors that could cause or contribute to such
differences include, among others: continued competition in seeds, traits and
agricultural chemicals; the company's exposure to various contingencies,
including those related to intellectual property protection, regulatory
compliance and the speed with which approvals are received, and public
acceptance of biotechnology products; the success of the company's research
and development activities; the outcomes of major lawsuits and the
previously-announced SEC investigation; developments related to foreign
currencies and economies; successful operation of recent acquisitions;
fluctuations in commodity prices; compliance with regulations affecting our
manufacturing; the accuracy of the company's estimates related to distribution
inventory levels; the company's ability to fund its short-term financing needs
and to obtain payment for the products that it sells; the effect of weather
conditions, natural disasters and accidents on the agriculture business or the
company's facilities; and other risks and factors detailed in the company's
most recent Form 10-K Report to the SEC. Undue reliance should not be placed
on these forward-looking statements, which are current only as of the date of
this release. The company disclaims any current intention or obligation to
update any forward-looking statements or any of the factors that may affect
actual results.

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Contact:

Evogene:
Karen Mazor
Director of IR & PR
+972-54-228-8039
karen.mazor@evogene.com
or
Monsanto:
Sara Miller
Corporate Communications Manager
+1-314-694-5824
sara.e.miller@monsanto.com
 
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