• Action consistent with leadership transition previously announced.
• Allen continues as president and chief executive officer.
• Robert W. Lane remains chairman until term expires on Feb. 24, 2010.

MOLINE, Illinois (December 3, 2009) – Deere & Company announced
today that its Board of Directors has elected Samuel R. Allen as Chairman of
the Board, effective at the conclusion of the Feb. 24, 2010 annual meeting of
stockholders. Allen will continue as Deere & Company president and chief
executive officer.

The action is another step in Deere & Company’s systematic process of
leadership transition that was announced in June. Allen will become chairman
immediately following expiration of Robert W. Lane’s current term as
chairman and member of the Deere Board of Directors. The Board also voted
to reduce the size of the Board to 11 members, effective at the same time as
Allen becomes Chairman.

In June, Deere & Company announced that its Board of Directors had
elected Allen to become president and chief operating officer, as well as a
member of the Board of Directors effective June 1st, and chief executive
officer effective August 1st.

Allen is a 34-year veteran of Deere with a broad range of leadership
experience in many divisions of the company. Allen has served as a senior
Samuel R. Allen elected Chairman of Deere & Company Board Page 2
officer at Deere since 2001, was president of the Worldwide Construction &
Forestry Division and also led Deere Power Systems Group, John Deere
Credit’s global operations, and Deere’s global human resources and labor
relations.

Allen also had responsibility in the past for Deere's intelligent mobile
equipment technologies and for Deere's advanced technology and innovation.
Previously in his career, he worked in positions of increasing responsibility in
the Consumer Products Division, Worldwide Construction & Forestry Division,
Deere Power Systems Group, and the Worldwide Agricultural Division,
including managing operations in Latin America, East Asia, and Australia.
John Deere (Deere & Company - NYSE: DE) is a world leader in providing
advanced products and services for agriculture, forestry, construction, lawn
and turf care, landscaping and irrigation. John Deere also provides financial
services worldwide and manufactures and markets engines used in heavy
equipment. Since it was founded in 1837, the company has extended its
heritage of integrity, quality, commitment and innovation around the globe.