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DNA PLANT TECHNOLOGY TO ACQUIRE DUPONT'S SHARE OF FRESHWORLD

 CINNAMINSON, N.J., Nov. 9 /PRNewswire/ -- DNA Plant Technology Corporation (NASDAQ: DNAP) announced today that it has signed an agreement in principle to acquire DuPont's ownership interest in Fresh World, the company's premium fruit and vegetable business, which has until now been a 50-50 joint venture with DuPont.
 Under the terms of the agreement, DNAP will acquire FreshWorld in exchange for its 28 percent minority ownership interest in InterMountain Canola Company (another DNAP-DuPont joint venture), 2,000,000 shares of DNAP common stock, and 2,750 shares of non-dividend paying preferred stock convertible into 2,750,000 shares of DNAP common stock. DuPont will also receive non-exclusive rights to certain DNAP technology for use in select crops and approximately $1.5 million from the sale of certain assets. This transaction is subject to the negotiation and execution of definitive agreements, approval by DNAP's board of directors and certain regulatory agencies.
 "By focusing DNAP's resources -- financial, technological and marketing -- on fresh and processed fruits and vegetables, we will be creating a much stronger company with a clear strategy and streamlined financials," said Robert Serenbetz, DNA Plant Technology's president and CEO. "With this agreement, DNAP is evolving from a start-up company relying on joint ventures to a fully integrated technology and marketing company. The fresh and processed fruit and vegetable business is worth $60 billion at retail in the U.S. By owning all of FreshWorld, DNAP will be able to fully capitalize on its technological and marketing expertise in this area to achieve a sizeable market share." Mr. Serenbetz will be president and CEO of the combined DNAP and FreshWorld operations. DNAP's wholly-owned tomato program will be integrated with the FreshWorld organization.
 DNAP's product line is led by the FreshWorld Farms(TM) Tomato, a vine-ripened, large tomato variety with improved taste that stays fresh for 10 to 14 days, compared to most vine-ripe tomatoes which have a shelf life of three to seven days. Launched in April in a 41-store test market, the FreshWorld Farms Tomato achieved a high level of consumer acceptance. DNAP has begun to expand its distribution of the tomato and plans to be in 500 supermarkets by the end of the year.
 Other products include FreshWorld Farms whole carrots and bite-sized carrots, preferred five to one over regular carrots and currently sold in supermarkets; VegiSnax(R) carrot sticks, available in select supermarkets, at Disney World, on Amtrak and a number of airlines, and in select Chicago public schools; and patented low-seed VegiSweet(TM) mini-peppers available in supermarkets. FreshWorld has also been test marketing cherry tomatoes in Philadelphia and San Diego.
 Since its founding in 1981, DNAP has conducted extensive research and product development work utilizing advanced breeding and genetic engineering, including its patented Transwitch(TM) gene suppression technology and transposon tagging techniques for isolating plant genes, to improve fruits and vegetables. The company has also been developing new varieties with improvements in freezing tolerance, microwaveability and dehydration that will provide additional market opportunities in the area of processed fruits and vegetables.
 DNAP is a leading agricultural biotechnology company, applying a spectrum of technologies to develop and commercialize value-added plant-based products for consumer and industrial markets. DNAP follows a two-track strategy of using advanced breeding to develop and market improved, premium products today and using genetic engineering to further improve future products.
 -0- 11/9/93
 /CONTACT: Robert Serenbetz, chief executive officer, Richard Sykes, chief financial officer, or Morton Sosland, manager-investor relations of DNAP, 609-829-0110; Stacy Berns or Cara Kiewel of Edelman Worldwide, 212-704-8111; or Suzanne Shaw of E.I. du Pont de Nemours & Co., 302-992-6286/
 (DNAP DD)


CO: DNA Plant Technology Corporation; E.I. du Pont de Nemours & Co. ST: New Jersey IN: FOD AGR SU: TNM

LG-GK -- NY018 -- 2074 11/09/93 08:46 EST
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Date:Nov 9, 1993
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