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Novozymes Biologicals Holding A/S completes acquisition of Philom Bios Inc.

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Saskatoon, Saskatchewan
December 10, 2007

Novozymes Biologicals Holding A/S announced today that as of 12:01 a.m. on December 10, 2007, approximately 3,460,335 common shares of Philom Bios have been validly deposited to the Offer by Novozymes Biologicals Holding A/S, a wholly-owned subsidiary of Novozymes A/S, to acquire all of the common shares of Philom Bios (including common shares issuable upon the exercise of any options). Novozymes Biologicals Holding A/S has taken up these shares, which represent approximately 98% of the common shares of Philom Bios, and will pay for these shares today by providing the depositary with sufficient funds for transmittal to the holders of these shares. Novozymes Biologicals Holding A/S first announced its intention to make the Offer on October 31, 2007 and it mailed its take-over bid circular to the shareholders of Philom Bios on November 2, 2007.

Novozymes Biologicals Holding A/S will now exercise its statutory rights under The Business Corporations Act (Saskatchewan) to compulsorily acquire the remaining Philom Bios common shares that were not deposited to the offer. Following the compulsory acquisition, Novozymes Biologicals Holding A/S intends to cause Philom Bios to apply to securities regulatory authorities to cease to be a reporting issuer.
 

Philom Bios Inc. Acquired by Novozymes Biologicals
December 13, 2007

Today Novozymes announced completion of the acquisition of Philom Bios, Inc. The inoculant company will become the cornerstone of Novozymes’ BioAgriculture business.

For Philom Bios, the acquisition means access to Novozymes’ resources, greater opportunities for growth and a larger entry-way into the US and international agriculture markets.

President of Philom Bios, Calvin Sonntag, said the sale should be seen as a positive development for the company's future growth and its 70 employees in Canada, the United States and Australia. “Novozymes has been keenly interested in agriculture as a growth segment for three or four years, and is committed to investing in the growth of this business” Sonntag explained.

“This is a strategy we have been developing since the beginning of 2006 when we planned our entry into the organic and sustainable agriculture market,” said Novozymes Biologicals’ President Ted Melnik.

Using technologies developed in Salem, Va, Novozymes will expand Philom Bios’ current market presence in the agricultural segment. The merger will provide future opportunities for growth of Novozymes in Salem; however, no immediate changes are planned. Philom Bios’ agricultural business will continue from Saskatoon, Canada and Novozymes Biologicals’ existing business will
remain in Salem, Virginia.

“We are committed to establishing Novozymes as a leader in the sustainable agriculture industry, providing earth-friendly alternatives to traditional pesticides and fertilizers,” Melnik explained. “This merger reinforces that commitment.”



Philom Bios Inc. is a world leading Inoculant Company with over 70 employees across North America in research, manufacturing, marketing and management and in its joint-venture operations in Australia. Headquartered in Saskatoon, SK, Philom Bios is a Canadian public company serving the needs of farmers with high-value inoculants. Philom Bios has an over 25 year commitment to farmers through a dynamic partnership with distributors and leading retailers.

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