Sumitomo Corporation (Head Office: Chuo-ku, Tokyo, Japan; President and CEO: Susumu Kato) hereby announces the formation of a business alliance with Sipcam Pacific Australia (Head Office: Geelong; General Manager: Damien Ryan; hereinafter, "Sipcam Pacific"), a subsidiary of Italian agricultural chemical manufacturing leader Sipcam Oxon, in an attempt to boost its agricultural chemical sales businesses in Australia. Sumitomo Corporation has already made capital investment in Sipcam Pacific by transferring the businesses of Summit Agro Australia, a 100% agrochemical sales subsidiary of the Sumitomo Group, to Sipcam Pacific. The payment was made in mid November.

Background
Sumitomo Corporation has been involved in the agricultural chemical business in Australia, the world 10th largest agrichemical market, for some three decades and continues to see this market as a critical region in terms of market strategies. The capital tie-up with the Sipcam Group was concluded in response to the interest of the Group in the patented products of Summit Agro Australia and to further strengthen its business foundation amid worldwide corporate reorganization within the agricultural chemical industry. Sumitomo Corporation will keep its focus on the trade business in Australia and continue supplying Japanese products, while Sipcam Pacific will handle the local market.

Sipcam Pacific, the seventh largest agrichemical sales company in Australia, has been steadily increasing annual sales, aiming for annual sales of AU$ 50 million in 2011. It has been continuously expanding its share in the Australian agrichemical market, in spite of market stagnation as a result of the ongoing drought. Sumitomo Corporation plans to use the tie-up with Sipcam Pacific as an opportunity to make its presence more visible in the Australian market while valuing its existing relationships with Japanese agricultural chemical manufacturers. Sumitomo Corporation is also looking into the possibility of expanding cooperation with the Sipcam Group in other regions of the world.


Sipcam Pacific Corporate Profile

Company name: Sipcam Pacific Australia General manger: Damien Ryan Company address: 23-31 Gheringhap Street, Geelong Victoria, 3220 Australia Capital: AU$1,301,000 Sales: AU$26 million (forecast for the fiscal year ending December 31, 2007) Number of employees: 13 Main business line: Agricultural chemical sales in Australia and New Zealand