Investors Vindicated by Court Ruling on Genetically Modified Sugar Beets, New Concerns Raised About Inadequate EPA Review of Monsanto Corn Product

Investors Vindicated by Court Ruling on Genetically Modified Sugar Beets, New
Concerns Raised About Inadequate EPA Review of Monsanto Corn Product

More than 50,000 Emails Sent Via ICCR Web-Based Campaign Targeting GMO Sugar
Beets

NEW YORK, Oct. 8 /PRNewswire-USNewswire/ -- The hurried review and approval
this summer by the U.S. Environmental Protection Agency (EPA) of Monsanto's
SmartStax genetically modified corn has now been called into question by the
late September federal court ruling against a genetically modified,
herbicide-resistant strain of sugar beets, according to the Interfaith Center
on Corporate Responsibility (ICCR), a broad-based coalition of nearly 300
faith-based investors with over $100 billion in invested capital.

In March 2008, ICCR led a Web-based campaign targeting 63 leading U.S.
restaurant, food, beverage and candy companies -- including such household
names as McDonald's, Campbell Soup, Kellogg, Kraft Foods, Sara Lee, PepsiCo,
Wendy's and Hershey's -- urging them to weigh in against the planting of
genetically modified sugar beets. More than 54,200 emails were sent to
companies by consumers participating in the ICCR campaign. The genetically
modified sugarbeet crop would be used to make the sugar contained in thousands
of the most widely consumed food products in the U.S.

On September 21, 2009, Federal Judge Jeffrey White ruled that the government
illegally approved the "Roundup-Ready" genetically modified,
herbicide-resistant strain of sugar beets without adequately considering the
chance they will contaminate other beet crops, a federal judge in San
Francisco has ruled.

ICCR Executive Director, Laura Berry said: "This is a major vindication for
the investors and members of ICCR that have alerted companies for years that
the regulatory oversight system for genetically engineered foods is weak and
does not protect food companies from potential liabilities. We know that food
companies rely almost exclusively on the oversight of USDA, EPA and FDA,
regarding genetically modified organism (GMO) products. It appears that food
companies, and the public, are not being well served."

A common misconception is that FDA "approval" is a safety assessment. The FDA,
however, relies on safety data provided by the owner of the new genetically
modified (GM) trait in it in "consultation" with the agency. The FDA's
approval letter to the applicant makes clear that all risk arising from the GM
product remains with the applicant.

ICCR Board Chair Margaret Weber said: "The recent ruling by Federal District
Judge White that the US Department of Agriculture failed to do an adequate
environmental assessment prior to approval of planting GMO-sugar beets, is a
high profile reminder of the weaknesses in the approval process. It raises
questions about the recent and inadequate approval by EPA of SmartStax
without public notification of opportunity to comment. SmartStax is a complex
genetically engineered corn with a total of 8 inserted genes. The most
inserted genes in previous approvals was three."

SmartStax is jointly developed and marketed by Dow AgroSciences and Monsanto.
SmartStax was approved by the EPA this summer after a rushed review process.

The sample letter text provided to consumers visiting the ICCR campaign Web
site read as follows: "As a consumer, I am writing to urge your company to
publicly oppose the spring 2008 planting of genetically modified sugar beets
in the United States. You have the power to tell agribusiness firms that you
won't buy sugar made from genetically modified sugar beets. You should know
that I am among the more than 50 percent of Americans who avoid genetically
modified foods if given a choice. That means that if you publicly announce
that your company will NOT use sugar from genetically modified sugar beets, I
will be more likely to spend my hard-earned money with you. If you decide to
use genetically modified sugar, I will avoid your products. And I would take
that one step farther: If you fail to label your food or beverage as
containing genetically modified sugar, I will have to operate on the
assumption that it does contain the product... and I will avoid it just to be
safe. I am a big believer in consumers getting good information and having
real choices. I do not want to be 'forced' to eat genetically modified sugar
either because it is sneaked into my food on an undisclosed basis or because
it is added into virtually all food and beverages."

ABOUT ICCR

The Interfaith Center on Corporate Responsibility (http://www.iccr.org) is a
coalition of nearly 300 faith-based institutional investors representing over
$100 billion in invested capital. ICCR members bridge the divide between
morality and markets by envisioning a civic economy that integrates ethical,
environmental and social values. Inspired by faith, committed to action, ICCR
members work to build a just and sustainable global community.

SOURCE ICCR, NYC

Patrick Mitchell, +1-703-276-3266, or pmitchell@hastingsgroup.com, for ICCR,
NYC