Vilmorin & Cie

Earnings Release • Feb 4, 2009

February 4th 2009

Public limited company with Board of Directors, with a capital of 204 225 819.25 euros. Head Office: 4, Quai de la Mégisserie – F-75001 PARIS R.C.S. Paris 377 913 728 Fiscal year from July 1st to June 30th

HALF-YEARLY SALES ON DECEMBER 31ST 2008: Vilmorin confirms its outlook for fiscal 2008-2009 and pursues its international development

HALF-YEARLY SALES 2008-2009

Vilmorin's consolidated sales for the first semester of fiscal 2008-2009, closing on December 31st 2008, stood at 284.9 million euros, an increase of 1.8% with current data and 2% like for like.

In millions of euros	2007-2008	2008-2009	Variation*
First quarter	112.4	116.0	+ 5.1%
Vegetable seeds activity	76.5	78.6	+ 3.3%
Field seeds activity	35.9	37.2	+ 8.5%
Holdings	-	0.2	-
Second quarter	167.5	168.9	=
Vegetable seeds activity	78.4	85.6	+ 3.9%
Field seeds activity	89.1	83.1	- 4.0%
Holdings	-	0.2	-
First semester	279.9	284.9	+ 2.0%
Vegetable seeds activity	154.9	164.2	+ 3.6%
Field seeds activity	125.0	120.3	- 0.5%
Holdings	-	0.4	-

* like for like

Accounting reference

Consolidated financial information is established in compliance with the IFRS reference (International Financial Reporting Standards).

Following the announcement in October 2007 of its plan to sell its home garden activity (garden products), Vilmorin now applies IFRS standard 5 "Non-current assets held for sale and discontinued operations".

This standard requires that any operations concerning these assets are to be isolated as specific items on the balance sheet and the income statement.

Analysis of each activity

• Sales for the vegetable seeds activity for the first semester came to 164.2 million euros, an increase of 6% compared to the first semester of fiscal 2007-2008. Restated like for like, this increase was 3.6%. In spite of a slowdown in business in certain areas in the Mediterranean basin during the first quarter, this semester has confirmed the fine performances of all the operating companies, particularly in the Americas.
• Sales for the field seeds activity for the first semester came to 120.3 million euros, which is at the same level as the excellent sales recorded last year.
• In Europe, this first semester was characterized by the excellent campaign for rape and winter cereal (wheat and barley) seeds; nevertheless it has been temporarily penalized by delayed invoicing due to a slower start to the sales campaign for corn seeds.
• On the North American market, in spite of predictions of a drop in the market for corn seeds, the order and pre-order books for the coming spring season is on line with objectives.

INTERNATIONAL DEVELOPMENT OF THE VEGETABLE SEEDS ACTIVITY

Vilmorin strengthens its commercial positions ….

Vilmorin has announced the acquisition of the American seeds companies, LSL Biotechnologies / LSL Plant Science (Tucson, Arizona) and GeneFresh Technologies (Salinas, California).

• As a precursor in the development of long-life tomatoes, LSL Biotechnologies / LSL Plant Science is one of the main operators on the market for open field tomatoes in Mexico. The company owns top rate germplasm that is highly complementary to that already developed by Vilmorin.
• Mainly positioned on the market for pre-packaged vegetables, GeneFresh Technologies provides true expertise in lettuce breeding, strengthening Vilmorin's competitive position for this crop, which is one of the most extensively sold species on the American market.

…. and continues to acquire new research programs

Vilmorin has also just signed agreements to purchase two breeding programs: K&B Development (Gilroy, California) and Gentropic, a vegetable seeds research structure belonging to the company Semillas Tropicales (Antigua, Guatemala).

• After acquiring Global Genetics (United States) in 2008, Vilmorin continues to reinforce its expertise in onion by acquiring the K&B Development research program. The company's activities involve research in short day onions and will enrich Vilmorin's current breeding programs, offering short-term possibilities for sales worldwide.
• Gentropic conducts research on high-quality tropical pepper and tomato germplasm, with a portfolio of varieties that are particularly suited to the American continent and extensive know-how in plant biotechnology.

"These targeted acquisitions will strengthen Vilmorin's expertise in strategic vegetable crops. And they will also help us to gain new market shares immediately in the Americas and more globally on our target international markets. Moreover they are a clear indication of our determination to pursue our development by astutely combining external and organic growth" as Adrian HUIGE, Vilmorin's CEO explained.

OUTLOOK

Sales for the first semester on average represent less that a third of Vilmorin's annual sales.

Taking into account information provided above, Vilmorin's perspectives for an increase in sales and margins for the fiscal year 2008-2009 are on line with the objectives announced in October 2008.

COMING DISCLOSURES FOR FISCAL 2008-2009

Wednesday February 25th at the end of the day: half-yearly results. Wednesday May 6th 2009 at the end of the day: sales at the end of the 3rd quarter. Tuesday August 4th 2009 at the end of the day: sales for the year. Tuesday October 6th 2009 at the end of the day: results for the year.

Vilmorin is the fourth largest seed company in the world, and expert in the creation of novel vegetable and field crop plants. Based on a responsible vision of its development, Vilmorin's strategy is a successful combination of its research capacity and constant international growth that strengthens its position as a world player.

Listed on Euronext Paris (compartment B), Vilmorin's quotation is included in the Next 150, CAC Mid 100 and SBF 250 indices, and is eligible for SRD (Deferred Settlement Order).

ISIN code: FR0000052516 (RIN).

For any further information, please contact:

Daniel JACQUEMOND Claire PLANCHE Chief Financial Officer Financial Communication Officer daniel.jacquemond@vilmorin.info claire.planche@vilmorin.info

Vilmorin & Cie BP 1 – F-63720 CHAPPES Tel: + 33 (0)4 73 63 41 95 Fax: + 33 (0)4 73 63 41 80 Website: www.vilmorin.info