1. DOW CONFIDENTIAL - Do not share without permission PERFORMANCE OF PHYTOGEN ™ COTTONSEED VARIETIES EXPRESSING WIDESTRIKE ™ INSECT PROTECTION IN 2006 STRIP TRIALS A.R. Parker, L.L. Reginelli and R.A. Haygood Dow AgroSciences LLC Indianapolis, Indiana ™ WideStrike is a trademark of Dow AgroSciences LLC ™ PhytoGen and PhytoGen logo are trademarks of PhytoGen Seed Company

2. DOW CONFIDENTIAL - Do not share without permission Introduction l Dow AgroSciences has been conducting large plot strip trials characterizing agronomic performance of the new PhytoGen / WideStrike varieties PHY 485 WRF and PHY 370 WR. l Large plot trials have demonstrated that PhytoGen varieties provide high yield potential with a broad scope of stability across large geographic areas along with the latest in insect and herbicide technologies. l University small plot replicated trials conducted in 2005 and 2006 validated results of the large plot strip trials, and further characterized the yield potential and lint characteristics of the varieties expressing the WideStrike trait in multiple environments.

3. DOW CONFIDENTIAL - Do not share without permission Performance of PHY 370 WR as Compared to Five Competitive Varieties in Available 2005 – 2006 OVT Trials in the Mid-South Based on 42 trials

4. DOW CONFIDENTIAL - Do not share without permission Fiber Quality of PHY 370 WR as Compared to Five Competitive Varieties in Available 2005 – 2006 OVT Trials in the Mid-South Based on 42 trials

5. DOW CONFIDENTIAL - Do not share without permission Performance of PHY 485 WRF as Compared to Four Competitive Varieties in Available 2005 – 2006 OVT Trials in the Mid-South Based on 28 trials

6. DOW CONFIDENTIAL - Do not share without permission Fiber Quality of PHY 485 WRF as Compared to Four Competitive Varieties in Available 2005 – 2006 OVT Trials in the Mid-South Based on 28 trials

7. DOW CONFIDENTIAL - Do not share without permission Uniform Stacked Gene Cotton Variety Trials - 2006 Dr. Robert Lemon, Texas Coop. Extension Service Data represent averages from replicated trials conducted in Burleson, Calhoun, Colorado, Fort Bend, Jackson, Matagorda, Refugio and Wharton counties. Lint value was calculated using a loan value of $0.517 lb +/- premiums/discounts according to the 2006 USDA loan chart.

8. DOW CONFIDENTIAL - Do not share without permission Objectives of 2006 Strip Trial Evaluations l Evaluate PHY 370 WR, PHY 470 WR, PHY 480 WR, and PHY 485 WRF in large strip plots in diverse geographies representing on farm commercial evaluations. l Evaluate PhytoGen varieties against regional commercial standards to further characterize yield stability across varied environments. l Characterize relative maturities of PhytoGen varieties as compared to commercial varieties.

9. DOW CONFIDENTIAL - Do not share without permission Materials and Methods for 2006 Innovation Strip Trials Plot Design:PHY 370 WR, PHY 480 WR, PHY 485 WRF, DP 444 BR, and ST 4554 B2RF were planted in 1-to-10 acre blocks in grower fields. Commercial agronomic practices were followed, and insecticide applications were made for each variety based on local action thresholds. Management: Commercial agronomic practices were followed and when local insect thresholds or when Pix applications were triggered, the entire fields were sprayed based off consultant recommendations. Evaluations: Seedling vigor, first fruiting branch, date of first bloom, end of season mapping data, which encompasses Node above cracked boll, plant height, upper most cracked boll, upper most harvestable boll, total number of nodes, and total number of fruiting nodes.

10. DOW CONFIDENTIAL - Do not share without permission Locations of 2006 Innovation Strip Trials with Participating Varieties by location LocationsPHY 440 W PHY 370 WR PHY 470 WR PHY 480 WR PHY 745 WRF PHY 485 WRF PHY 310 R PHY 425 RF ST 4554 B2RF DPL 444 BR Wharton, TXXXXXX San Angelo, TXXXX Lubbock, TXXXX Altus, OKXXXX Bunkie, LAXXXX Transylvania, LAXXXXXX Portland, ARXXXXXX Elaine, ARXXXXX Belzoni, MSXXXXX Clarksdale, MSXXXXX Portageville, MOXXXXX Belle Mina, ALXXXXX Black Oak, ARXXXXX

11. DOW CONFIDENTIAL - Do not share without permission Early Season Varieties PHY 310 R - Roundup Ready ® variety with early season maturity and good adaptation. New germplasm from PhytoGen Seed Company. PHY 370 WR - WideStrike and Roundup Ready ® stacked variety with early season maturity and good adaptation. New germplasm from PhytoGen Seed Company. PHY 375 WRF – Roundup Ready Flex version. 2007 testing in preparation for 2008 launch ® Roundup Ready is a registered trademark of Monsanto Company

12. PHY 440 W - WideStrike variety with early-to-mid maturity, consistent high yield and broad adaptation. Improved micronaire, staple and grade. PHY 470 WR - WideStrike and Roundup Ready ® stacked variety with early-to-mid maturity and broad adaptation. Improved micronaire and grade. PHY 480 WR - WideStrike and Roundup Ready ® stacked variety with early-to-mid maturity and broad adaptation. Similar to PHY 470 WR with improved lint yield, staple and strength. PHY 485 WRF - WideStrike Roundup Ready ® Flex stacked variety with early-to-mid maturity and broad adaptation. Very good to excellent fiber quality. ®Roundup Ready is a registered trademarks of Monsanto Company. Early–to- Mid Season Varieties

13. DOW CONFIDENTIAL - Do not share without permission Data Presentation l To demonstrate the evaluation summaries developed by the Cotton Development specialists, a data collection summary will be shown for trials which include like varieties across all locations l Average yields of PHY 370 WR, PHY 480 WR, PHY 485 WRF, DP 444 BR, and ST 4554 B2RF will be shown.

14. DOW CONFIDENTIAL - Do not share without permission Average vigor ratings averaged across 6 locations VarietiesEarly Season Vigor Ratings PHY 370 WR1.6 PHY 480 WR2.2 PHY 485 WRF2.0 DP 444 BR2.3 1= excellent, 5= poor

15. DOW CONFIDENTIAL - Do not share without permission Average Plant Map Data Across 6 Locations EvaluationsPHY 370 WRPHY 480 WRPHY 485 WRFDP 444 BR Plant Height41.242.446.941.8 Node of First Fruiting Branch6.56.86.26.8 Node of Uppermost Cracked Boll 14.714.512.414.9 Node of Uppermost Harvestable Boll 18.718.917.318.5 Total Number of Nodes22.322.921.222.4 Number of Fruiting Branches13.4 13.0 NACB3.94.54.93.5

16. DOW CONFIDENTIAL - Do not share without permission Average Days to First Bloom from 6 locations VarietiesDays to First Flower PHY 370 WR59.2 PHY 480 WR61.2 PHY 485 WRF62.6 DP 444 BR59.0

17. DOW CONFIDENTIAL - Do not share without permission Relative Maturity Early Relative Maturity Late PHY 480 WR PHY 370 WRPHY 485 WRFPHY 440 W PHY 310 RPHY 425 RPHY 470 WR DP 444 BRDP 445 BRST 5242 BRFM 960 BR DP 555 BR These maturity estimates are based on available data and observations and are provided only to help gauge relative maturity. Maturity can vary from year to year and field to field based on environmental conditions, soil types, management styles, etc.

18. DOW CONFIDENTIAL - Do not share without permission Average Yield and Fiber Quality Across 3 Locations VarietiesLint Yield lbs / acre MicLength inches Strength g/tex Uniformity % PHY 485 WRF1,5354.51.1330.584.2 ST 4554 B2RF1,5364.41.1230.483.8

19. DOW CONFIDENTIAL - Do not share without permission Average Yield and Fiber Quality Across 6 Locations Varieties Lint Yield lbs / Acre MicLengthStrengthUniformity PHY 370 WR1,2144.91.0730.383.1 PHY 480 WR1,1644.61.1131.084.2 DP 444 BR1,1424.11.0928.983.2

20. DOW CONFIDENTIAL - Do not share without permission Summary l PHY 370 WR, PHY 480 WR and DP 444 BR comparisons were made in 6 of 13 Innovation trial locations and PHY 485 WRF and ST 4554 B2RF comparisons were made in 5 of 13 Innovation trial locations. l PHY 370 WR, PHY 480 WR, and PHY 485 WRF demonstrated high yield potential and quality lint throughout the Southern and Southwestern geographies. l Multiple year comparisons of “end of season plant mapping data” and date of first bloom led to PHY 370 WR being characterized as an early season variety and PHY 480 WR and PHY 485 WRF characterized as early-to-mid season varieties when using DP 444 BR as the standard early season variety.

21. DOW CONFIDENTIAL - Do not share without permission Conclusion l PhytoGen Seed Company is introducing new high yielding, early to mid maturity varieties in the upland cotton areas. These include varieties which express the WideStrike Insect Protection trait in combination with the Roundup Ready or Roundup Ready Flex traits. l PHY 370 WR and PHY 485 WRF are widely adapted across a wide range of environments and will provide growers new choices in germplasm, insect protection and brand.