Today's decision is great news for farmers and for Pioneer. This approval supports expanded choices for farmers and recognizes the safety and value of Pioneer biotech products worldwide.

This decision does not require shareholder approval. The fund's board of directors can simply decide to hold an offering.

Our long heritage is intact.

The joint venture and the licensing agreements bring together the strength of two industry leaders to deliver new technologies to the market more quickly. We are excited about making the results of our research investments in both genetics and traits available to more farmers, sooner.

By combining the Optimum™ GAT™ trait with our industry leading soybean products, farmers will enjoy even more significant yield advantages, along with improved weed control options.

1507 maize can help farmers protect their seed investment by minimizing the risk of insect damage, while maximizing the yield performance of Pioneer's superior seed products.