Gent - 16 December 2008 - Devgen (EBR:DEVG) Completes The Final Closure Of Its Pharma Division.

Devgen (EBR:DEVG) Regulated information Regulated information Ghent, Belgium, 16 December, 2008 - 18:30 (CET)

Devgen (Euronext Brussels: DEVG) has reached a collective labor agreement following negotiations with the social partners. This agreement is a result of the previously announced intention to close Devgen's pharma division. This closure will lead to the employment of the 19 employees, active in this division, to be terminated effective December 31, 2008.

About Devgen

Devgen is a public agricultural biotech and seed company focused on developing and commercializing:

* biotech traits and hybrid seeds to meet the growing needs for high yielding, high quality hybrid rice, sorghum, millet and sunflower of the Indian and other South-East Asian markets; * a novel generation of biotech products to protect a wide spectrum of crops incurred from pests; to render crops more tolerant against stress factors such as drought and salty soils and to decrease the need for fertilizer use by optimizing nitrogen uptake; * a new generation of agrochemical products to protect crops from damage inflicted by plant parasitic nematodes.

Incorporated in 1997, Devgen has offices in Ghent (Belgium), Singapore, Hyderabad (India) and Delaware (US) and employs more than 200 people worldwide. Devgen is listed on Euronext Brussels (ticker: DEVG) since June 2005.

For more information please contact:

Thierry Bogaert, CEO Wim Goemaere, CFO Tel. +32 9 324.24.24 Tel. +32 9324.24.24 Thierry.Bogaert@devgen.com Wim.Goemaere@devgen.com

or visit: www.devgen.com

This press release may contain forward-looking statements containing the words "anticipates", "expects" , "intends", "plans", "estimates", "may" and "continues" as well as similar expressions. Such forward looking statements may involve known and unknown risks, uncertainties and other factors which might cause the actual results, performance or achievements of Devgen to be materially different from any future results or achievements expressed or implied by such forward-looking statements. These forward looking statements speak only as of the date of publication of this document. Devgen disclaims any obligation to update such forward looking statements in this document to reflect any change in its expectations, conditions or circumstances on which such statement is based, unless required by law or regulation.

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.



LINK: http://hugin.info/135721/R/1277974/285014.pdf

Devgen

http://www.devgen.com

ISIN: BE0003821387

Stock Identifier: XBRU.DEVG

US: DEVG.BR