Calyx Agro Completes Initial Equity Financing

BUENOS AIRES, Argentina (Map) - BUENOS AIRES, Argentina, May 13 /PRNewswire/ -- Calyx Agro Ltd. ("Calyx Agro") announced today that it has successfully completed an equity financing from private investors.

Calyx Agro is a newly created venture focused on the acquisition, development, rental and operation of agricultural land located in South America with an emphasis on Brazil. Calyx Agro was formed by LD Commodities, one of the world's leading commodity merchants and processors of agricultural products.

The investor group was led by AIG Investments and included a number of other private equity- and family-sponsored investment funds.

The funds raised in the equity financing are intended to expand Calyx Agro's agricultural land portfolio and further develop its existing farming activities across a diverse range of products and regions.

Calyx Agro is seeking to capitalize on South America's growing agribusiness sector and potential for farmland appreciation by acquiring land that is presently operating with low technology or used for livestock breeding. In turn, the company will seek to improve production yields, which is expected to ultimately drive a higher resale value of the land.

"We are sincerely delighted to finalize this first funding phase, it is a significant milestone in order to execute a clear and focused business plan by which Calyx Agro will become the best option for investors seeking to participate in this attractive sector," said Axel Hinsch, Chief Executive Officer of Calyx Agro.

About Louis Dreyfus Commodities

LD Commodities, one of the world's leading commodity merchants and processors of agricultural products, has merchandised and traded bulk commodities in international markets since 1851. LD Commodities owns or operates considerable industrial assets around the world to conduct its global trading and merchandising activities. As a result, LD Commodities is consistently ranked as one of the world's largest merchandisers of grains and oilseeds, is one of the three world's largest producers of orange juice (15% global market share), is the third largest producer of sugar in Brazil, the world's biggest exporting country, and is the largest trader and merchandiser of raw cotton in the world. The company is also a leader in the coffee, rice, metals and freight markets. LD Commodities has an emerging worldwide presence in the expanding biofuels sector, including a leading position in the Brazilian ethanol market. LD Commodities operates from five major regions (Argentina, Brazil, North America, Europe and Asia), and offices in Beijing, Buenos Aires, Delhi, Geneva, Sao Paulo, Singapore and Wilton (USA) serve as major coordination centers for merchandising activities. LD Commodities is an affiliate of the Louis Dreyfus Group, an organization of diversified companies privately owned by the Louis-Dreyfus family. The global activities of LD Commodities are vertically integrated under a holding company, Louis Dreyfus Commodities BV, which is based in the Netherlands.

About AIG Investments

AIG Investments is a global leader in asset management with extensive capabilities in equity, fixed income, hedge, private equity, and real estate investments. Member companies of AIG Investments manage more than US $750 billion in assets and employ over 2,500 professionals in 46 offices around the world as of March 31, 2008. AIG Investments is the asset management arm of American International Group, Inc. (NYSE: AIG).