Press Releases

Delta and Pine Land Company (D&PL) and Monsanto Company, today announced the signing of a joint venture agreement between D&PL China, Pte, Ltd (D&PL China) and the Hebei Provincial Seed  Industry   Group Corporation. D&PL China is an 80% owned subsidiary of D&M Intemational, a 50/50 partnership of Monsanto and D&PL. The remaining 20% of D&PL China is owned by several units of the Singapore government.

The new joint venture company, Hebei Ji Dai Cotton Seed Technology Company, Ltd., is the first cotton planting seed joint venture in China formed with foreign investment in cooperation with The People's Republic of China (PRC). D&PL China owns 2/3 of the new joint venture and 1/3 is owned by the Hebei Province investor.

The joint venture will produce, condition and market varieties of cottonseed developed by D&PL and containing the Bollgard gene and/or other technologies from Momsanto. DeltaPine varieties with Bollard have been successfully tested in the PRC for the last two years. In 1996 initial seed increases of NuCOTN 33B were grown in Hebei Province, PRC and a major bulk-up of seed is planned in 1997. Broad commercial sales could begin in 1998.

The new joint venture plans for the construction of a modern cottonseed delinting facility to be located in Shijiazhuang, Hebei Province, PRC. Construction of this facility will begin in early 1997 and the facility should be operational by late 1997 in time to receive and condition the 1997 seed crop.

Assuming a normal seed production year in 1997, management believes sufficient seed could be available to plant about 500,000 acres in the Spring of 1998.

Delta and Pine Land Company is a commercial breeder, producer and marketer of cotton planting seed. Headquartered in Scott, Mississippi with multiple offices in six states and several foreign countries, D&PL also breeds, produces and markets soybean planting seed. D&PL common stock trades on the Now York Stock Exchange under the symbol "DLP".
Contact:
Tom Jagodinski
Delta and Pine Land Company
+1 (601) 742 4000

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