Arysta Names New CEO

TOKYO (May 21, 2004) - Arysta LifeScience Corporation of Tokyo, Japan, announced today that Dr. Christopher Richards has been named its President and Chief Executive Officer. John Hagaman, who has been serving as interim CEO, has been named Chairman of the Board.

"We are delighted to have Chris as President and CEO of Arysta," said Hagaman. "Since Chris joined us in November 2003, he has demonstrated the qualities we need to lead the company to achieve its long-range operating and growth objectives."

Richards said he and the Board of Directors will focus on making Arysta into a significant global player in the agrochemical market. "Arysta is emerging from its roots in trading to become an agrochemical company with exciting growth potential,"said Richards. "We have the ability to develop, market and distribute products in an increasing number of countries across the world. Our product portfolio will continue to expand, both through partnership with Japanese producers and by acquiring products and businesses."

David Shen, an Arysta Director and a Managing Director of Arysta shareholder, Olympus Capital Holdings Asia, expressed Board and shareholder support for Richards and his management team. "Arysta is our largest single investment and demonstrates our commitment to working with Japanese companies, management and shareholders," Shen said. "In the long-run, our goal is to support Arysta and its management team to play a leadership role in the agricultural sector."

Richards said, "I am committed to making Arysta a stronger, more dynamic business in the agriculture and life sciences areas, based in Japan. We will reinforce our long-established position in Japan, especially our partnerships with Japanese companies."

Growing the business is clearly at the top of Richards' agenda. "We will grow the business rapidly, mainly by strengthening our position in emerging countries," he said."We will also invest selectively in North America and Europe, building on our established businesses in those regions."

In addition to determining Arysta's growth strategy, Richards will lead a global workforce, which currently numbers 1600 employees. "Employees are our most important asset," he said. "We have an enterprising and extremely talented group of employees committed to providing superior products and services to our customers."

Richards received his master of arts in zoology and his doctorate in animal ecology from Oxford University. Prior to joining ICI in 1983, he served as a Higher Scientific Officer in the U.K. Ministry of Agriculture, Fisheries and Food. Richards has had a long and accomplished career in the crop protection industry, with more than 20 years with ICI-Zeneca-Syngenta, including senior management positions in Colombia and Japan. Before joining Arysta as Chief Operating Officer in November 2003, Richards served as the head of Syngenta's marketing and technical support operations for Europe, the Middle East and Africa.

Headquartered in Tokyo, Japan, Arysta is an entrepreneurial provider of unique crop protection and life science products worldwide. For further information about Arysta LifeScience Corporation, please visit the company's web site at