Henning, Illinois
September 23, 2003

Collaborative Effort Is Expected To Bolster U.S. Ethanol Industry By Providing A Multi-Million Dollar Investment Over The Next Two Years

Monsanto announced today that it is teaming up with industry leaders - General Motors and the National Ethanol Vehicle Coalition (NEVC) to deliver improved corn for the dry mill ethanol industry, drive increased fuel ethanol demand and expand fuel ethanol infrastructure to support that demand.

The collaborative effort is expected to provide a major boost to the U.S. ethanol industry, through Monsanto's Fuel Your Profits^SM program, by generating a multi-million dollar investment over the next two years. This investment will be aimed at fueling ethanol profits from corn planting to ethanol processing and beyond.

"Monsanto is honored to collaborate with General Motors and NEVC, and supports their commitment to ethanol," said Kerry Preete, lead of Monsanto's U.S. Crop Production business. "We believe this collaboration is a major step forward for the industry and feel that it will aid in the development of rural economic growth."

The Fuel Your Profits program takes advantage of Monsanto's research capabilities by promoting improved corn hybrids for the dry mill ethanol industry offered through the Processor Preferred® High Fermentable Corn (HFC) brand. However, the Fuel Your Profits program is about more than just providing products to the industry, Monsanto notes.

"We wanted to provide a synergistic way that corn growers and ethanol plants could use Monsanto's advancement in research while increasing ethanol demand and expanding the ethanol fuel infrastructure in our country," notes Amy Rutherford, Processor Preferred business manager.  The Fuel Your Profits program was designed as a new way to increase the profitability potential of corn growers and ethanol plants."

Participants in the Fuel Your Profits program will be eligible for reward certificates off of a negotiated purchase price of General Motors' E85 vehicles as well as incentives to increase the number of E85 fuel pump stations that are located throughout the country.

"In recent years, Monsanto's bioenergy research program has yielded tremendous results.  Today, we are proud to offer growers corn hybrids through our Processor Preferred High Fermentable Corn brand that have improved ethanol yields for dry mill ethanol plants," says Rutherford. 

"Monsanto has responded to corn growers' request for programs that provide value added opportunities with Fuel Your Profits. This is a sound, sensible way to help grow the ethanol industry," said National Corn Growers Association President Fred Yoder. "The program offers a science-based analysis by which the Processor Preferred system determines a list of High Fermentable Corn. Ethanol plants and corn growers can utilize this list to their mutual benefit."

"Profitable ethanol plants can create significant and sustainable community benefits through jobs, and more," Yoder said. "There are also thousands and thousands of farmers invested in ethanol production cooperatives that could potentially see higher returns on those investments if those plants are more profitable."

According to John Gaydash, General Motor's Director, Marketing of GM Fleet and Commercial Operations, "General Motors has more than one million vehicles on the road today capable of burning E85.  We have demonstrated our interest in increasing ethanol demand through our E85 awareness efforts with NEVC. Fuel Your Profits ties nicely with these efforts."

Phil Lampert, Executive Director of NEVC agrees. "NEVC is proud to be a part of the Fuel Your Profits collaboration.  We remain committed to advancing ethanol, E85 use and the ethanol industry's infrastructure so that our nation can utilize this renewable resource."

To date there are 17 dry mill ethanol plants participating in the Fuel Your Profits program.  These plants are located throughout the country, and will collectively consume grain from 1.5 million acres of the 2004 harvest. 

"Any grower interested in the Fuel Your Profits program should contact their local dry mill ethanol plant to see if the plant is participating," Rutherford recommends. "Nearly 60 brands will be offering Processor Preferred High Fermentable Corn in their 2004 line-up, so I would encourage growers to check with their local seed dealer to learn more about the availability of these hybrids in their area." 

Through the Fuel Your Profits collaboration, Monsanto will also provide ethanol plants access to and use of a Near Infrared proprietary measurement tool developed under ISO 17025 compliance by Monsanto's crop analytics scientists. The tool will help plant managers and growers understand which

corn hybrids yield more ethanol in the dry mill process.  Such information allows ethanol plants to optimize efficiency and output by providing an indicator of the ferment ability of corn at the front end of their process.

Grower enrollment in the Fuel Your Profits program is currently underway, and ends February 1, 2004.  For more information, growers should call their local seed dealer, dry mill ethanol plant or 1-800-768-6387.

Monsanto Company (NYSE: MON) is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality.

General Motors (NYSE: GM), the world's largest vehicle manufacturer, designs, builds and markets cars and trucks worldwide, and has been the global automotive sales leader since 1931. GM employs about 355,000 people around the world.

The National Ethanol Vehicle Coalition is the nation's primary advocate dedicated to the use of 85 percent ethanol as a form of alternative transportation fuel.   It is a coalition of corn growers, ethanol producers and auto manufacturers based in Jefferson City, Missouri.