KWS: Südzucker and HypoVereinsbank plan placement of the KWS shares in the capital market.

Südzucker and Bayerische HypoVereinsbank informed the Executive Board of KWS SAAT AG today, Nov. 26, 2004, that they intend to sell their shares in KWS amounting to 9.99 % (Südzucker) and 15 % (HypoVereinsbank) respectively, on the capital market. The shares are to be primarily placed with institutional investors from a consortium of banks, with Bayerische Hypo- und Vereinsbank AG, Munich (leader of the consortium), and probably the banks Sal. Oppenheim KGaA, Cologne, DZ Bank AG, Frankfurt, and Nord/LB, Hannover taking part as members. On request by Südzucker and HypoVereinsbank, KWS will support the placement procedure and take part in presentations to institutional investors and analysts.

The excellent collaboration between KWS and Südzucker will not be affected by the sale of these shares. According to Südzucker, the stable business relations between the companies do not necessitate a participation in KWS any more. Of their original share of almost 25 %, Südzucker had, just two years ago, sold 15% to HypoVereinsbank already. Both parcels of shares are to be placed in the capital market now. The free float of KWS shares will thus rise to one third of shares, thus strengthening the presence of KWS in the stock exchange.

KWS SAAT AG / Nov. 26, 2004