Syngenta AG (SYT)

Liquidity and Capital Resources

Syngenta’s principal source of liquidity consists of cash generated from operations. In the period 2003 to 2005, this has been more than sufficient to cover cash used for investment activities and, except for any significant business acquisitions, this is also expected to be the case in 2006. Working capital fluctuations are supported by short term funding available through Commercial Paper and credit facilities. Longer term capital resources include unsecured non-current bonds issued under the Euro Medium Term Note (EMTN) program and unsecured non-current Notes issued under a Note Purchase Agreement in the US Private Placement market. Syngenta reported cash and cash equivalents on December 31, 2005, 2004 and 2003 of US$458 million, US$227 million and US$206 million respectively. At December 31, 2005, 2004 and 2003, Syngenta had current financial debts of US$514 million, US$423 million and US$749 million respectively, and non-current financial debts of US$847 million, US$1,117 million and US$1,017 million, respectively.

Liquidity and Capital Resources

Syngenta’s principal sources of liquidity consist of cash generated from operations and third party debt available through unsecured non-current bonds, Commercial Paper and Euro Medium Term Note (EMTN) programs and credit facilities. Syngenta reported cash and cash equivalents on December 31, 2004, 2003 and 2002 of US$227 million, US$206 million and US$232 million respectively. At December 31, 2004, 2003 and 2002, Syngenta had current financial debts of US$423 million, US$749 million and US$1,207 million respectively, and non-current financial debts of US$1,117 million, US$1,017 million and US$925 million, respectively.