Philom Bios - the inoculant company

Philom Bios Inc.
3935 Thatcher Avenue
Saskatoon, SK Canada S7R 1A3
1-888-744-5662
www.philombios.com

The Board's Charter ensures that the Board is responsible for contributing to and approving the strategic plan and annual budget, and monitoring performance; is aware of the principal risks of the corporation and the mitigation approaches of management for these risks; has reasonable assurance of the integrity of internal controls and management information systems; has determined that the company meets or exceeds all applicable environmental laws and regulations; approves the audited financial statements, and documents for shareholder meetings; and has an appropriate communications policy.

All Directors are non-management. Two Directors previously served as members of senior management.

Three permanent committees serve to bring added rigour to the governance standards that Philom Bios holds itself to: Governance, Audit and Compensation.

The mandate of the Governance Committee includes the review and approval of Charters for all permanent committees of the Board and for the Board itself, considers the composition of the Board, reviews candidates for directors, and updates the Board manual. The Governance Committee also recommends to the Board the membership of its Committees.

The mandate of the Audit Committee includes responsibility for the relationship with the external auditor, the external financial reporting of the corporation, and overseeing the financial and legal risks of the corporation, and management's mitigation process for these risks, and the appropriateness of internal controls.

The mandate of the Compensation Committee includes an annual review of the performance of the President/CEO, and making recommendations to the Board on compensation, reviewing the processes for evaluation and compensation of executives, and reviewing and recommending any incentive plans of the Corporation.

	*John Becherer - Director* John Becherer is the Chief Executive Officer of the United Soybean Board, a St-Louis, Missouri based organization that invests in research and marketing activities for US soybeans and soy products. Mr. Becherer joined the Philom Bios Board in June, 2005.
	*Kevin Blair - Director* Kevin Blair is CEO of Blair's Fertilizer, a successful Saskatchewan based retail agriculture crop supply company. Blair's Fertilizer has a long and proud history of brining leading edge agronomic and business solutions to their farm customers. Mr. Blair has served on numerous organizations and advisory boards and his significant agricultural experience and insight are a great benefit to our Company.
	*Beverley Brennan - Director* Beverley Brennan, F.C.A., joined the Company in 1987, held the office of Vice President of Finance from 1988 to 2000, and served as Corporate Secretary from 1990 to November 2003. Appointed to the Philom Bios Board in 1998, Ms. Brennan has held executive positions in the Canadian Institute of Chartered Accountants, including Chair in 1998/99, and is currently a Commissioner of the Alberta Securities Commission.
	*Wayne Brownlee - Director* Wayne Brownlee has been a Director of Philom Bios since 1992. Mr. Brownlee is Executive Vice President, and CFO, Potash Corporation of Saskatchewan. PCS is the world's largest producer of crop nutrients and a leading global supplier of nitrogen, phosphate and potassium.for animal feed and industrial uses.
	*John Cross - Chairman* A founding partner of the Company in 1980, Mr. Cross brings 40 years of research and business development experience in the food, agriculture, and biology industries to the Board table.
	*Gord Froehlich - Director* Joining the Board in 2006, Mr. Froehlich is a seasoned business leader in biotechnology and agri-business with extensive experience in management, marketing, and strategic planning activities. Mr. Froehlich is the President of Kane Biotech Inc. and Vice-President, Business Development for Genesys Ventures, a venture capital company that assists in commercializing emerging health and biotechnology ventures. He also maintains an active consultancy practice focused on the life science and agri-business sectors.
	*Grant Kook - Director* Bringing a wealth of experience in the Company in financial and investment matters, Grant Kook is the founder , Chairman/CEO of Golden Opportunities Fund Inc., Saskatchewan's largest Labour-sponsored Venture Capital Fund and a major shareholder in the Company. Mr. Kook is also President/CEO of the fun manager, Westcap Mgt. Ltd., which manages various investment funds exceeding $170 million in aggregate. He also sits on the boards of numerous private and publicly traded companies and is active in many community organizations.
	*Rod Merryweather - Director* Director of Sales, Canada, Bayer CropScience in Calgary, Mr. Merryweather has over 25 years of operational and senior management experience in the agricultural sector in Canada and internationally. Mr. Merryweather joined the board in 2003.
	*Gregory Yuel- Director* Gregory Yuel is the Vice President and COO of PIC Investment Group Inc., a privately owned investment holding company with interests in a diverse group of related companies in the chemical, petroleum, transportation, packaging and property management industries. Mr. Yuel joined the Philom Bios board in 2002.