Disposal of Property

Genus PLC 8 July 2002 FOR IMMEDIATE RELEASE 8 July 2002 GENUS plc DISPOSAL OF PROPERTY Genus plc ('Genus'), the international agri-technology group, announces that it has today agreed to sell its leasehold corporate offices building in Crewe, Cheshire to Focus (DIY) Limited, a subsidiary of Focus Wickes plc, for a headline price of £3.45 million before VAT. The property had a book value of £2.4 million on 31st March 2002. As well as the head office staff, the building houses part of the Consulting and Breeding Divisions' staff. The sale agreement provides for an extended period to relocate operations. An initial payment of £172,500 has been received today on signing the agreement, with the balance of the £3.45 million to be paid if vacant possession is granted by 31st December 2002. This will be reduced by £100,000 if vacant possession is not achieved until 31st March 2003. The cash proceeds, net of tax and expenses associated with the disposal and relocation costs, will be used to repay part of the Group's existing borrowings, so reducing gearing by more than 5% on completion. Richard Wood, Chief Executive, said, 'In addition to reducing Group borrowings, the sale will facilitate the devolution of some central functions to the three operating Divisions. In so doing, we will be seeking to improve efficiency and productivity. The head office function will be reduced to just a handful of people and will relocate to a suitable facility near the M4 corridor.' 'We are in the advanced stages of securing alternative rented facilities close by for the Breeding Division and will relocate the Consultancy office to an existing Genus building, also nearby.' 'We will now begin to work with our staff to ensure the various moves go smoothly.' Richard Wood, Chief Executive Philip Acton, Finance Director Genus plc Tel: 01270 536501 Charles Ryland Buchanan Communications Ltd Tel: 020 7466 5000 This information is provided by RNS The company news service from the London Stock Exchange SNAEEE