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Biotech / Medical : Delta & Pineland Co. -- Ignore unavailable to you. Want to Upgrade?

To: Terry who wrote (22)	3/30/1998 12:04:00 PM
From: Rob C.	Respond to of 67

Stock still being hammered, despite this news release.... NEWARK, DE--(BUSINESS WIRE)--March 30, 1998-- Contract for the 1998 growing season valued at about $1.4 million, a 40% increase over 1997 Strategic Diagnostics Inc. (Nasdaq NM: SDIX.O), a leading provider of biotechnology-based diagnostic tests for the water treatment, agricultural and industrial markets today announced it has entered into a product supply agreement with Delta and Pine Land Company of Scott, Mississippi (NYSE:DLP.N), the world's largest supplier of cotton planting seed. This agreement to supply about 1.4 million tests is the second supply agreement between the two companies and follows the successful use of SDI's immunoassay-based test kits in D&PL's quality assurance program for genetically engineered cotton varieties in 1997. This 1998 agreement represents a 40% increase in test kits over the 1 million units used by D&PL in the 1997 season. Delta and Pine Land Company is the world's leading supplier of genetically engineered cotton planting seed. In response to the enthusiastic acceptance by cotton growers of this new technology, D&PL will initiate seed increases of 27 new varieties in 1998 to approximately double the transgenic cotton varieties it has available. According to Andy Drummond, Vice President of Quality Assurance for Delta and Pine Land, "The testing technology developed and manufactured by SDI is an important element in maintaining the high level of quality which our customers expect from these new products. The rapid, accurate testing procedure allows us to do our initial transgenic quality check while the trucks are waiting to unload. These kits are so easy to use that they allow our remote international locations to use them with as much confidence as our US Quality Assurance personnel." Richard C. Birkmeyer, President and CEO of SDI commented, "Currently our test kits are used primarily in breeding programs for new cotton and corn varieties and for quality assurance during transgenic seed production and conditioning. We fully expect new applications to continue to develop along with the acceptance of this new agricultural technology. We are very pleased with the value that our products are providing to Delta and Pine Land and our other customers. Recently SDI has signed agreements to develop and supply similar tests for other companies involved in transgenic crop development and we are very excited about the opportunities in this growing market." Strategic Diagnostics is a leading provider of biotechnology- based diagnostic tests for a broad range of agricultural, industrial and water-treatment applications. Through its TSD BioServices subsidiary, Strategic Diagnostics also provides antibody and immunoreagent research and development services. Strategic Diagnostics' test kits are produced in a variety of formats suitable for field and laboratory use, offering advantages of accuracy, cost-effectiveness, portability, and rapid response. This news release contains forward-looking statements reflecting SDI's current expectations. When used in this press release, the words ''anticipate,'' ''enable,'' and similar expressions as they relate to SDI are intended to identify said forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, which may cause actual results to differ from those anticipated by SDI at this time. Such risks and uncertainties include, without limitation, changes in demand for products, delays in product development, inability to obtain required government approvals, modifications to development and sales relationships, the ability to achieve anticipated growth, competition, seasonality, and other factors more fully described in SDI's public filings with the U.S. Securities and Exchange Commission. --30--sdg/ny* CONTACT: Strategic Diagnostics Inc., Newark Arthur A. Koch, Jr., Chief Financial Officer (302) 456-6789 sdix.com or Lippert/Heilshorn & Assoc., Inc. Investor Relations Contact: John W. Heilshorn/Danielle L. Reilly (212) 838-3777 dani@lhai.com john@lhai.com KEYWORD: DELAWARE MISSISSIPPI INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS BIOTECHNOLOGY ENMED ENVIRONMENTAL Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com Copyright 1998, Business Wire