St. Louis, Missouri
December 5, 2002

The Philippines' Department of Agriculture's Bureau of Plant Industry, the body that reviews the country's applications for approval of plant biotechnology products, has given commercial approval to YieldGard Corn Borer, an insect-protected corn developed by Monsanto (NYSE: MON).

Filipino farmers will likely begin planting YieldGard Corn Borer corn over the next few months.

"This decision is good news for Filipino growers who now have an opportunity to share in the economic and environmental benefits of YieldGard Corn Borer corn," said Juan Ferreira, Monsanto's country director for the Philippines. "Where it's grown commercially, this product has a demonstrated ability to improve both yields and quality of grain which, in turn, increases growers' incomes."

This is the first biotech crop to be approved for commercial planting in the Philippines, and is one of the first biotech food crops to be approved for planting in Asia. Other approved biotech crops currently being grown in Asia/Australia include Monsanto's Bollgard/Ingard insect-protected cotton and Roundup Ready cotton.

Several other Asian countries including Japan, Korea, Taiwan and Australia have reviewed the safety of a number biotech crops and granted import approvals.

"This approval in the Philippines demonstrates that both farmers and government regulators recognize the safety and benefits of plant biotechnology, which is why use of these technologies continues to expand throughout the world," said Robb Fraley, Ph.D., chief technology officer of Monsanto.

"This acceptance is driven by the overwhelming benefits of biotechnology, such as significant reduction in pesticide use."

The recent approval by the Philippines' Department of Agriculture was based in part on local field trial results that demonstrated significant increases in yield and a reduced need for insecticide applications, which will potentially increase farmers' incomes.

"Ultimately, the adoption of technology like YieldGard Corn Borer corn has the potential to improve the self-sufficiency of many Filipino farmers and the Filipino agriculture industry," said Ferreira.

In addition to its commercial products, Monsanto shares its knowledge and technologies on a non-commercial basis with public-sector partners to benefit subsistence farmers and the environment in Asia and throughout the world.

For example, Monsanto is participating in work to develop virus-resistant papayas in the Philippines and other countries in Southeast Asia, and has contributed to the international project to sequence the rice genome.

Monsanto Company is a leading provider of agricultural solutions to growers worldwide. Monsanto's employees provide top-quality, cost-effective and integrated approaches to help farmers improve their productivity and produce better quality foods.