Germany clears Genencor acquisition by Danisco

18/04/05 Danisco A/S has announced that the competition authorities of Germany have finished their review relating to Danisco´s agreements to acquire the balance of Genencor International, Inc. and have granted clearance of these transactions.

Danisco and its subsidiaries currently own approximately 41.6% of the outstanding shares of common stock of Genencor and have a contingent agreement with Eastman Chemical Company to buy its approximately 41.6% holding of Genencor common stock at USD 15 per share. Danisco, through a subsidiary, is conducting a tender offer to purchase the balance of the outstanding shares of Genencor at USD 19.25 per share in cash, subject to the terms and conditions set out in its Offer to Purchase dated 15 February 2005, the Supplement thereto dated 9 March 2005 and the related letter of transmittal.

Danisco previously extended the expiration date of the tender offer to permit additional time for the competition review in Germany. That review is now complete. The offer will expire on Tuesday 19 April 2005 at 5:00 pm New York City time, and Danisco will accept all tendered shares, subject to the continued satisfaction of the conditions of the offer. Shareholders of Genencor who wish to participate in the offer are urged to tender their shares by the expiration date of the offer.

Danisco has filed a Tender Offer Statement on Schedule TO/13E-3 with the Securities and Exchange Commission which, as amended to date, contains the Offer to Purchase, the Supplement, the form of letter of transmittal and other documents relating to the transaction. Genencor has filed a Transaction Statement on Schedule 13E-3 and a Solicitation /Recommendation Statement on Schedule 14D-9 relating to the transaction. These documents, as amended from time to time, contain important information about the transaction, and stockholders of Genencor are urged to read them carefully.