BEIJING, Jun 09, 2010 (MARKETWIRE via COMTEX) --Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), a China-based agriculture company with investments in key agriculture markets of China and New Zealand, today announced it has entered into a memorandum of understanding (MOU) with the lead plaintiff in the consolidated securities class action. The MOU reflects an agreement in principle providing for the settlement and release and dismissal with prejudice of any and all claims that were asserted, or could have been asserted, against all defendants in or relating to In re Agria Corporation Securities Litigation, Consolidated Case No. 1:08-cv-3536 (WHP), including all of the underwriter defendants and all served and un-served defendants named in the consolidated complaint dated February 3, 2009. The settlement contemplated by the MOU is subject to a number of material conditions, including court approval.

Under the agreement in principle, the amount to be paid on behalf of all defendants to lead plaintiff for the benefit of the class in settlement of the abovementioned class action is $3.75 million. Agria's insurance companies are expected to pay the settlement in its entirety, so there is expected to be no impact to Agria's financials from this settlement.

By entering into the MOU, neither Agria nor the other defendants admit wrongdoing or liability. If a final settlement agreement is concluded pursuant to the MOU, all claims in the litigation would be dismissed against Agria and all other defendants.

About Agria Corporation Agria Corporation (NYSE: GRO) is a China-based agriculture company with investments in key agriculture markets of China and New Zealand. Its operations in China are engaged in research and development, production and sale of upstream agriculture products in three categories -- seeds, sheep products and seedlings. For more information about Agria Corporation, please visit www.agriacorp.com.

Safe Harbor Statement: This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Agria may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on Forms 20-F and 6-K, etc., in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Agria's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, those risks outlined in Agria's filings with the U.S. Securities and Exchange Commission. In this case, potential risks also include the future completion of several conditions to fulfil the settlement such as, agreement on the remaining material terms, successful documentation of the settlement, preliminary court approval, adequate notice to the class members, any objections to the settlement by class members and final court approval of the settlement. All information provided in this press release is as of the date of this announcement unless otherwise stated, and Agria does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

SOURCE: Agria Corporation