Cebeco International Seeds and Premier Pacific Seeds announce letter of intent

Cebeco International Seeds, Inc., a Cebeco Seeds Group member, signed a letter of intent on January 24, 2002 to purchase 40 percent of the issued and outstanding shares of stock of Premier Pacific Seeds, Ltd. of Vancouver, B.C. No other terms were disclosed.

Premier Pacific Seeds, Ltd. was recently founded by David Wall and Annette Roy to distribute turf and forage grass seed products in the Vancouver, B.C. area.

The agreement between Premier Pacific Seeds and Cebeco International Seeds will provide for greater distribution and long-term growth in the western Canadian market and represents a consistent source of supply and access to new varieties developed by CISI/Cebeco research.