DuPont (NYSE: DD) and its subsidiary, Pioneer Hi-Bred International Inc., and Monsanto Company (NYSE: MON) and its affiliates announced today a broad-reaching business agreement that will
ensure farmers worldwide have greater access to the new agricultural technologies they want, in the seed brands they prefer to plant.

The agreement gives both companies cross-licenses to enabling technologies that enhance the performance of corn, canola, and soybean crops, and improve the farmer's productivity and efficiency.

"This is a ground-breaking agreement that enhances our ability to serve our customers more effectively," said Howard Minigh, group vice president, DuPont Agriculture & Nutrition. "Both DuPont and Monsanto have excellent products and technologies, and this agreement further ensures that farmers can use the best of what both companies have to offer."

"This is a win for farmers and a positive development for how the agricultural industry brings new innovations to market," said Hugh Grant, Monsanto's chief operating officer. "This agreement sets a new constructive tone that allows both companies to focus their energy and talents on what they do best - making and marketing great products for farmers."

The companies have reached an agreement that creates new and growing sources of business for both companies. This balanced agreement includes the following:

• Pioneer receives a royalty-bearing license to Monsanto's newest Roundup Ready(R) corn technology.
• Pioneer receives a new royalty-bearing license to Monsanto's Roundup Ready(R) soybean technology. Pioneer's existing royalty-bearing license to Roundup Ready(R) canola technology is renewed.
• Pioneer receives freedom to operate from Monsanto and its affiliates for its second-generation insect-protected corn products and future corn rootworm-protected corn products through a royalty-bearing license.
• Pioneer's existing license for use of Monsanto's MON810 YieldGard(R) Corn Borer product is modified to expand geographic coverage and include more favorable terms.
• Monsanto and DuPont have resolved all issues related to certain previously contested germplasm.
• Monsanto receives freedom to operate for certain corn transformation technology.
• Certain terms of DuPont's existing glyphosate supply agreement have been revised.
• Monsanto and DuPont have entered a plant Breeding Accord affirming the intellectual property and other rights that protect proprietary germplasm.
• Both Monsanto and DuPont agree to dismiss all pending lawsuits, fully resolving a number of important business and patent disputes between them.