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Genesis Research Appoints Chief Executive

Genesis Research Appoints Chief Executive to New Plant Subsidiary, AgriGenesis

Genesis Research and Development Corporation Limited (NZX/ASX: GEN) today announced the appointment of Dr Peter Lee, an expatriate New Zealander, as Chief Executive of AgriGenesis Biosciences limited, its plant science subsidiary that was announced in April 2003. The appointment of Dr Lee is a key step in the progression of these plans.

“Dr Lee has an impressive track record in management and commercialisation of research,” said Dr Jim Watson, Chief Executive of Genesis Research. “He also has an excellent network of contacts, having held senior positions in the North American forest and paper products industry for over 25 years.”

Dr Lee completed a PhD in Chemical and Materials Engineering at Auckland University and has worked for leading US forest and paper products companies since then. Most recently he has been Vice President, Global Research and Development for International Paper Company, where he was responsible for research management, technology collaborations and commercialisation of new products. He has also held senior positions with Mead Paper Company and Weyerhaeuser Company. Dr Lee has had extensive experience in developing innovative products and production technologies. He has expertise in strategic planning, innovation and internal ventures, and securing capital investments as well as managing research and product development. He is Chair of Breakthrough Technologies for American Paper Industry and the US Department of Energy, a Board member of the Technical Association of Pulp and Paper, a Representative to the Research and Technology Executive Council and a member of the Editorial Board for Research Management Magazine.

David Irving, Chairman of Genesis Research, said that Dr Lee will report directly to the Genesis Board. Dr Watson will continue as Chief Executive of Genesis Research and will also resume responsibility as Head of the Health Division following the completion of Dr Doug Williams’ term in New Zealand.

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