Global Code of Conduct

• Having any business, financial or other relationship with outsidesuppliers or competitors that might impair, or even appear to impair,independence of judgment rendered on behalf of AGCO.POLICIES & PROCEDURES• “Moonlighting” or participating in another enterprise as an officer,director, employee, agent, representative or consultant (if suchparticipation might detract from the performance of duties at AGCO).• Devoting work hours to activities other than those directly related toAGCO’s business or to other authorized activities.• Soliciting or accepting gifts, payments, loans, services or any form ofcompensation from suppliers, customers, competitors or others seekingto do business with the Company. AGCO’s policies regarding solicitingor accepting gifts, payments and other favors are more fully describedunder the heading, “GIFTS, FAVORS AND IMPROPER PAYMENTS.”• Influencing or attempting to influence any business transaction betweenthe Company and another entity in which an employee has a direct orindirect financial interest or acts as a director, officer, employee, partner,agent or consultant.• Buying or selling securities of any other Company using non-publicinformation obtained in the performance of an employee’s duties, orproviding such information so obtained to others. AGCO’s prohibition ofinsider trading is discussed more fully under the heading, “COMPLIANCEWITH LAWS AND REGULATIONS – INSIDER TRADING.”Unauthorized selling, trading or bartering of merchandise to otherson Company premises or Company time is prohibited. The distributionof personal notices, pamphlets, advertising matter or any other kind ofpersonal literature during work time or in any work area, and participationin or soliciting for gambling, lotteries or any other game of chance, also arenot permitted.Disclosure is the key. Any employee who has a question about whetherany situation in which he or she is involved amounts to a conflict of interestor the appearance of one should disclose the pertinent details, preferably inwriting, to his or her supervisor. Each supervisor is responsible for discussingthe situation with the employee and arriving at a decision after, whereappropriate, consultation with or notice to the appropriate higher level ofmanagement.PAGE> 18