December 18, 2000

Georgetown Holdings, a privately owned US-based investment firm is pleased to announce the acquisition of Canadian Seed Coaters of North Battleford, Saskatchewan and Precision Seed Coaters of Yuma, Arizona.

These acquisitions represent GTH’s first entries into the North American seed industry through its subsidiary companies SeedVentures, Inc and Custom Seed Coaters Inc.

The acquisitions have enabled several promotions to occur within the CSC/PSC organization. Mr. Kelly Ray has been promoted to General Manager of CSC and Mr. Carlos Pino to General Manager of PSC.

Mr. Ray has been with Canadian Seed Coaters for 18 years and has been Manager of the North Battleford plant since 1991. He has an extensive background knowledge of the Canadian seed industry.

Mr. Pino came to Precision Seed Coaters in 1997 soon after graduating from Ohio State with a Master of Science degree. He has gained a broad knowledge of the turf and forage coating industry during the last four years.

In addition Mr. Trevor Bailie the former GM of both companies has now assumed the title of GM of SeedVentures, Inc. and Custom Seed Coaters. "I am pleased that this restructuring of our group has enabled me to make these changes and give us complete independence within the seed industry." said Bailie.

Mr. Bailie was instrumental in the establishment of Canadian Seed Coaters in 1977 and Precision Seed Coaters in 1989. Prior to this he had an extensive agricultural research background in New Zealand and was a pioneer of the coated seed industry in that country. During his time as GM of Canadian Seed Coaters Mr. Bailie has been involved in establishing Seed Coating joint ventures in six countries including Canada and the US.

Both companies are entering their new coating seasons and will be busy with their normal coating activities over the next few months. However planning is already underway for re-equipping both plants with new forage seed coating equipment in 2001. In addition the companies are evaluating other business opportunities both domestically and abroad.