Deere & Company Revises Statement of Cash Flows

MOLINE, Ill., March 14 -- Deere & Company (the "Company") today said it has changed the classification of certain information in its Statement of Consolidated Cash Flows for the years ended 2004, 2003, and 2002. This change of classification appears in the Form 10-Q the Company filed today for its first fiscal quarter ended January 31, 2005. The change is related to comments from the United States Securities and Exchange Commission ("Commission") and is consistent with the Commission staff's position articulated in a February 14, 2005, posting on the Commission's Web site. Further, the change had no impact on the Company's net income, total cash flows or cash and liquidity position.

The Company's annual report on Form 10-K for its 2004 fiscal year should be read in conjunction with the audited Statement of Consolidated Cash Flows and related disclosures contained in the first quarter 10-Q.

About John Deere: John Deere (Deere & Company - - NYSE: DE) is the world's leading manufacturer of agricultural and forestry equipment; a major manufacturer of construction equipment; and a leading supplier of equipment used in lawn, grounds and turf care. Additionally, John Deere manufactures engines used in heavy equipment and provides financial services and other related activities that support the core businesses. Since its founding in 1837, the company has established a heritage of quality products and services providing performance that endures to customers worldwide.