Monheim, Germany
March 24, 2003

Bayer CropScience AG today announced the sale of a package of selected insecticides and fungicides to BASF AG while retaining certain back-licenses for non-agricultural applications. The total package with sales of EUR 500 million in 2001 is valued at EUR 1,330 million. Taking into consideration the back-licenses, the cash purchase price amounts to EUR 1,185 million.

"With the completion of this transaction we have fulfilled the conditions imposed by the anti-trust-authorities as part of the Aventis CropScience acquisition," emphasized Dr. Jochen Wulff, Chairman of the Board of Management of Bayer CropScience AG.

The approval by the European Commission was granted a few days ago, the affirmative decisions of the US-Federal Trade Commission (FTC) and further anti-trust-authorities have already been obtained. The outstanding authorizations in certain countries (e.g. Germany) are expected shortly. Until then Bayer CropScience will carry on the business in these countries under supervision of the trustees of the European Commission and US-Federal Trade Commission.

"With license rights within the scope of the EU and FTC consent order to market Fipronil and its mixtures, we retain access to certain non-agricultural markets and wish to further expand our position in this area. With the successful integration of Bayer CropScience and our strong presence in the global markets, we continue to focus our efforts on building the leading crop science business in the industry," added Wulff.

In accordance with the respective consent orders, the agreements with BASF contain assets and rights related to the two insecticide active ingredients Fipronil (world-wide, except China) and Ethiprole (Europe). Also included are a number of fungicides (active ingredients: Prochloraz, Iprodione, Triticonazole, Fluquinconazole and Pyrimethanil), primarily in Europe, and based on a non-exclusive license for seed treatment applications outside of Europe. The manufacturing facilities for Fipronil, Triticonazole, and Iprodione, located at Elbeuf, France, employ about 340 persons and are also part of the transaction.

Bayer CropScience, a subsidiary of Bayer AG with annual sales of some EUR 6 billion, is one of the world's leading innovative crop science companies in the areas of crop protection, seeds and green biotechnology, as well as non-agricultural pest control. 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 more than 20,000 and is represented in 122 countries, ensuring proximity to dealers and consumers.