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    Japanese Chemical Giant to Trial Qcide

    Document date: Tue 09 Jul 2002 Published: Tue 09 Jul 2002 10:13:18
    Document No: 219266 Document part: A
    Market Flag: Y
    Classification: Other
    BIOPROSPECT LIMITED 2002-07-09 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    BioProspect Limited ("BioProspect") is pleased to announce that it
    has entered into an agreement with Tokyo-based Sumitomo Chemical
    Company Limited ("Sumitomo Chemical") to trial its natural
    insecticide Qcide.

    On completion of initial laboratory tests at its facilities in Japan,
    Sumitomo Chemical plans to conduct further tests of Qcide in the
    field under conditions similar to those in which Qcide will be used
    as a commercial product. Initial field trials with Qcide will target
    insects that invade vegetables and fruits in Japan, the United
    States, Europe and later Australia during their individual growing
    seasons.

    This is the second major agrochemical company that BioProspect has
    reached agreement with to trial this product and is a further
    significant step towards the commercialisation of Qcide. It means
    that Qcide is now being trialed in the major agricultural regions
    throughout the world

    Sumitomo Chemical is a large global Japanese-based chemical company
    with an international track record in the development and marketing
    of insecticides. It has a global staff of 5,400 and annual sales in
    excess of A$15 billion across all sectors. Sumitomo Chemical is the
    8th largest seller of agrochemical products world-wide with current
    sales of A$1.4 billion per annum.

    Sumitomo Chemical is committed to growth in the agrochemical sector
    through the acquisition of companies and products, from which Qcide
    and BioProspect have the potential to benefit.

    "Sumitomo Chemical has the capacity and know-how which will assist
    BioProspect in accelerating the development of Qcide and
    fast-tracking it to the global market," BioProspect Chief Executive
    Officer, Mr Selwyn Snell said.

    Mr Masayo Tada, Managing Director of Sumitomo Chemical said,
    "Sumitomo Chemical is extremely focused on growth of our product
    range, and in particular, our natural product portfolio. We see Qcide
    as a product that may significantly contribute to this growth and
    confirm Sumitomo Chemical's position as a leader in the global
    insecticide market."

    The global agricultural insecticide market is huge, with sales
    exceeding A$13 billion in 2001. This market dwarfs the domestic
    global insecticide market that has estimated annual sales of A$500
    million.

    The agreement with Sumitomo Chemical highlights the significant
    potential that Qcide has for the world's agrochemical community and
    its appreciation of the many advantages a natural product would bring
    to insect control.
    S Snell
    CHIEF EXECUTIVE OFFICER


    For further information, please contact:

    Mr Selwyn Snell
    CHIEF EXECUTIVE OFFICER
    (Ph) 07 3229 5755
    (Fax) 07 3229 4655

 
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