Global Code of Conduct

• No document will be dated as of any date other than the actual date ofexecution unless that document clearly states on its face that the date isto be regarded “as of” a different date.POLICIES & PROCEDURES• Business expenses properly incurred in performing Company businessmust be documented promptly with accuracy and completenesson expense reports. The employee must distinguish between travelexpenses, business conference expenses and business entertainmentexpenses.If any employee has reason to believe that the books and records ofAGCO are not being maintained in accordance with these requirements, heor she should report the matter directly to his or her supervisor or AGCO’sChief Ethics and Compliance Officer or Regional Ethics and ComplianceOfficers.SEC ReportingAGCO’s shareholders and the investment community as a whole dependupon and trust the accuracy and completeness of the filings that AGCOmakes with the U.S. Securities and Exchange Commission (SEC) and theother public announcements by AGCO regarding its financial performance.This dependence and trust necessitate special care by AGCO’s financial andaccounting staffs in connection with their preparation and filing of SECreports and the financial statements that they contain and the other publicannouncements that they make.It is the policy of AGCO to comply fully with the U.S. Sarbanes-OxleyAct of 2002 and generally accepted accounting principles and to apply suchprinciples in a consistent and conservative manner. It also is AGCO’s policyto file timely, accurate and complete reports with the SEC and promptly tocorrect any misstatement made as soon as practicable upon confirming thata misstatement in fact occurred and that the misstatement is material.E. Working with Governments; POLITICAL ACTIVITY ANDCONTRIBUTIONSWorking with GovernmentsIf you have contact with government officials during your work, orare asked to provide information in connection with a government orregulatory agency inquiry or investigation, you must make sure that anyinformation you provide is truthful and accurate, and that AGCO’s legitimateinterests are protected. Always seek advice from your supervisor or AGCO’sPAGE> 26