Deere Sells Stake in Rental Company

MOLINE, Ill., Nov. 5, 2003 -- Deere & Company today announced that Sunstate Equipment Co., LLC purchased Deere's minority investment in Sunstate. As a result of the sale, Deere expects to record a pretax gain of approximately $30 million, or $22 million after-tax, in the fiscal first quarter of 2004. Sunstate, based in Phoenix, Arizona, is engaged in the equipment rental business. Terms of the sale were not disclosed.