MUMBAI, INDIA, and INDIANAPOLIS -- United Phosphorus Limited has reached an agreement with Dow AgroSciences LLC to acquire Dow's global propanil herbicide business, marketed primarily as Stam(TM) herbicide.

Stam is a selective, post-emergence foliar-applied, non-residual herbicide for the control of many important annual grasses, broadleaf and sedge weeds used in rice. Stam is a global product with more than 100 registrations in more than 30 countries in North America, Latin America, Europe, Africa, and Asia/Pacific. This purchase will further strengthen UPL's position in the rice herbicide segment, and allows Dow AgroSciences to focus resources on priority molecules.

Under this agreement, UPL and its subsidiaries throughout the world can start selling propanil and its formulations immediately.

UPL is the largest Indian agrochemical company and is engaged in research, manufacturing and distribution of agrochemicals and specialty chemicals across the globe. The croup's revenue for the year ended March 2006 was about US$408 million.

Dow AgroSciences LLC, based in Indianapolis, is a top-tier agricultural company providing innovative crop protection, seeds, and biotechnology solutions to serve the world's growing population. A wholly owned subsidiary of The Dow Chemical Company, global sales for Dow AgroSciences are $3.4 billion.

SOURCE: Dow AgroSciences news release.