February 16, 2006 -- Exosect, a leading technology provider of environmentally-conscious insect pest control, today announced that it has signed a regional product development agreement with Makhteshim Agan Industries (MAI), a leading generic agrochemical company.

Exosect has signed individual agreements with the MAI group of companies in Israel (Makhteshim), Argentina (MAGAN Argentina S.A.), Australia (Farmoz) and New Zealand (Agronica).

Martin Brown, Managing Director of Exosect, comments, “We are delighted to have signed these agreements with Makhteshim Agan. We believe this collaboration will enable MAI companies to bring to the market environmentally conscious systems which aim to support MAI’s Integrated Pest Management (IPM) programme and importantly provide support to growers for whom residue levels are a key issue.”

Exosect’s product range is based on unique powder technology, which is used as a carrier system for insect control agents. The powder is formulated with specific pheromones, pathogens or pesticides, which deliver a killing or disrupting, affect throughout the population of the target insect.

Claudio Dunan, General Manager at Magan Argentina comments, “Exosect’s technology gives us a key tool in our range of insect control products to provide a complete IPM package to Argentinean growers.

Peter Chalmers, General Manager - Portfolio at MAI in Australia and New Zealand (MAANZ) adds, “Exosex gives the grower a product to be used in IPM systems. This innovative system will especially allow New Zealand growers the flexibility to supply produce suitable for export to new markets such as Taiwan, that has a zero tolerance of insect infestation at the same time as meeting growing demand for zero residues in our traditional EU markets."

Exosect Limited was formed in 2001 to develop and commercialise innovative and environmentally acceptable insect pest control technology. As a specialist research and development company, Exosect has developed a range of powder delivery systems based on the concept of attractants and active ingredients formulated with patented powder carrier systems. Specialising in IPM based, environmentally acceptable pest control products, markets include crop protection (agriculture and horticulture), stored products (raw and processed), forestry, amenity landscape and public health.

Exosect's solutions have EPA regulatory approval in a number of US states and received organic verification from OMRI – the Organic Materials Review Institute. The company has also partnered with a number of major International agrochemical companies to further develop its product lines in the US.

Makhteshim-Agan is a leading generic company in the agrochemical market, with 2005 nine month sales of $1,335.6 Million and Net profit of $158.4 million. The company is characterized by its high level of technological-chemical competencies, its adherence to the strictest environmental standards, and its global reach for the registration, marketing, and distribution of many products. With about 80 active ingredients in the portfolio, Makhteshim Agan has an emphasis on growth in preferred markets such as North America and Western Europe.