Press Releases

Delta and Pine Land Company (NYSE: DLP) said today that ground breaking took place yesterday and construction has begun on a new cotton seed conditioning and storage facility in Hebei Province, China, under terms of a previously announced joint venture agreement between D&PL China, Pte, Ltd. and the Hebei Provincial Seed Industry Group Corporation.

D&PL China is owned by D&M International and agencies of the Singapore government. D&M Intemational is a jointly owned partnership of D&PL and Monsanto.

The joint venture, which will produce, condition and market varieties of D&PL cotton containing the Bollgard gene, expects the new facility to be completed by mid-November 1997. The joint venture anticipates selling seed sufficient to plant 500,000 acres of Bollgard cotton in Hebei Province in spring 1998, assuming a normal growing and harvesting season this year. D&PL estimates the potential of the market for Bollgard cotton in China to exceed 10 million acres.

Roger MaWn, chairman and chief exectifive of Delta and Pine Land, participated in the ground breaking ceremony on the site of the new plant in Shijiazhuang, Hebei Province. Also taking part was Chen Liyou, vice governor of the province and Li Ronggang, director of Hebei's Provincial Agricultural Department.

"For the Chinese cotton industry and for Delta and Pine Land, this is a historic moment," said Mr. Malkin. "China is the largest cosumer of cotton in the world also a major producer of the fiber. This joint venture will help ensure that the highest quality, most technically advanced insect resistant seed is available to support the growth of this important segment of the country's economy. We are particularly indebted to Vice Governor Chun Liyou, whose vision, persistence and hard work helped make this parnership between the govenment and private foreign investment a success.

The joint venture company building the facility, 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. D&PL China owns 2/3 of the joint venture. with the remaining 1/3 owned by a corporation established by Hebei Province.

The NuCOTN varieties which will be produced at the new facility contain the Bollgard Bacillus thuringiensis (Bt) gene, which was developed by Monsanto and commercialized through a collaborative biotechnology agreement between Delta and Pine Land and Monsanto. It produces a protein that is toxic to bollworms and budworms, but is harmless to humans, animals and other insects.

Delta and Pine land Company is a commercial breeder, producer and marketer of cotton planting seed. With headquarters in Scott, Mississippi and 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 New York Stock Exchange under the symbol "DLP.

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