Philom Bios and GRDC Form Australian Joint Venture Company

Release Date: April 3, 2006
FOR IMMEDIATE RELEASE

April 3, 2006

Philom Bios and GRDC Form Australian Joint Venture Company

SASKATOON, SK — Philom Bios Inc. (PBI) and the Grains Research Development Corporation
(GRDC) of Australia are pleased to announce the formation of Philom Bios (Australia) Pty Ltd(PBA), a sales, marketing and technology development company to serve the Australian
agriculture market with high value inoculants. Philom Bios and GRDC will each hold a 50% interest in the new company and have jointly committed to provide approximately $AUS 1 million to support the start up phases of operations.

Under the terms of the agreement, PBA will hold an exclusive license to market and sell all Philom Bios products in Australia as well as selected other markets and will also act as the commercialization vehicle for emerging technologies developed by GRDC and its research partners. Conversely, PBI receives an exclusive right to manufacture and commercialize all PBA technologies in Canada, the United States, and other world markets.

Mr. Sanford Gleddie, Vice President Research and Business Development with PBI, comments,
“This investment is the logical next step to our collaborative R&D efforts with GRDC and a
further measure of our resolve to pursue growth in global markets. Our field trials in Australia have established the efficacy of our current inoculant products, and we are excited about the benefits our current and future inoculant technologies will bring to farmers in Australia.”

GRDC Executive Manager New Products, Vince Logan, states, “We are very pleased to partner with Philom Bios in this new venture. PBA is not only an excellent way to introduce Philom Bios’ inoculant products and added productivity to the Australian grower, but it is also an optimum development vehicle to commercialize the growing list of emerging technologies supported by GRDC and its research partners. This Company will bring long-term pay back to the Australian grains industry by introduction of these technologies to all markets.”

Philom Bios is a world leading Inoculant Company with over 70 employees across North
America in a wide range of research, manufacturing, marketing, and management positions. Headquartered in Saskatoon, SK, Philom Bios is a Canadian public company serving the needs of farmers with high-value inoculants. Philom Bios has a 20+ year commitment to farmers through a dynamic partnership with distributors and leading retailers.

GRDC is one of the world’s leading grains research investment organizations, funded by
Australian grain growers and the Australian Government and is responsible for planning,
investing, and overseeing research and development, delivering improvement in production, sustainability and profitability across the Australian grains industry.

For More Information:
Sanford Gleddie Vince Logan
Philom Bios Inc. GRDC
3935 Thatcher Ave. 40 Blackall St.
Saskatoon, SK Canada S7R 1A3 Barton, ACT Australia
Phone: (780) 973-6430 Phone: 02 6272 5525
Fax: (780) 973-6443 Fax: 02 6271 6430
Email: sgleddie@philombios.ca Email: v.logan@grdc.com.au