Monsanto Company and the National Ethanol Vehicle Coalition (NEVC) announced today the first ethanol plant to qualify for a free, installed E85 fuel pump under Monsanto’s Fuel Your Profits^SM   initiative. This announcement was made at the Commodity Classic, the annual meeting of the National Corn Growers Association and American Soybean Association.

The Nebraska Energy ethanol plant in Aurora, Nebraska is the first to qualify for a free E85 fuel pump installation, which will be the first in the area and only the second in the state of Nebraska. The E85 Fuel Pump Grand Opening will be March 8, 2004 at the Aurora Cooperative Fueling Center in Grand Island, Nebraska.  Aurora Cooperative is an invested member of the Nebraska Energy Cooperative that holds partial ownership in Nebraska Energy and supplies a majority of the corn they use to produce ethanol.

“Monsanto is very pleased to support the advancement of bioenergy demand in the United States and we, along with NEVC, are pleased to provide local support to help make that happen,” said Robb Fraley, Monsanto’s Executive Vice President and Chief Technology Officer.

“Supporting renewable fuels clearly is aligned with our desire to produce products that benefit the environment and have a positive economic impact in rural America,” Fraley said.

The Fuel Your Profits^SM initiative was announced last fall and is designed to increase the profitability potential of both corn growers and ethanol plants. The objectives are to deliver improved corn for the dry mill ethanol industry, drive increased fuel ethanol demand and expand fuel ethanol infrastructure to support that demand.

“This is an exciting announcement and collaboration,” said Dean Klute, Nebraska Energy Cooperative Board President and local grain and livestock producer. “Profitable ethanol plants can create significant and sustainable community benefits, such as providing an outlet for grain, more jobs and tax revenue, as well as aid in raising awareness of E85 fuel benefits among motorists.”

Nebraska Energy is one of 28 dry mill ethanol plants participating in the Monsanto’s Fuel Your Profits^SM initiative along with over 70 supporting elevators across nine states. These plants will produce 950 million gallons of ethanol and will utilize more than 350 million bushels of corn from 2.5 million acres from the 2004 harvest.

“This program is a sound, sensible way to help grow the ethanol industry,” said Dee Vaughan, National Corn Growers Association President. “The program offers a science-based analysis by which the Process Preferred® system determines a list of high fermentable corn. Ethanol plants and corn growers can utilize this list to their mutual benefit.”

All participating plants in Monsanto’s Fuel Your Profits^SM initiative are provided a list of brands carrying the Process Preferred® designation in their area, and they receive the use of Monsanto’s proprietary near infrared calibration tool developed in compliance with ISO 17025 standards. This tool, available for the length of their participation helps plant managers and growers understand which corn hybrids yield more ethanol in the dry mill process.

Today, growers can select from 95 different seed brands carrying Process Preferred® High Fermentable Corn in their seed line up, insuring growers have a choice in selecting the right hybrids to meet their farm’s needs. Additional benefits for growers who participate in the program include eligibility for reward certificates providing savings on their negotiated purchased price on General Motors’ E85 vehicles, and an expense paid trip to Monsanto’s headquarters for a research facilities tour and time with Monsanto bioenergy research experts.    

Monsanto's Commitment To Bioenergy

Monsanto’s Fuel Your Profits^SM initiative announcement today builds upon Monsanto's commitment to bioenergy - first outlined in 2001 as part of the Monsanto Pledge, a series of commitments describing the company's policies for products developed through biotechnology.

At our customers' request, Monsanto formed a bioenergy program to research ways to use biotechnology, conventional breeding, and crop analytics to improve the quantity and quality of bioenergy. Over the past three years, researchers at Monsanto have been working to identify commercial corn hybrids that may produce more cost-effective conversions and higher yields of ethanol per bushel of corn. Today's announcement highlights the results of that work through the Process Preferred® High Fermentable Corn (HFC) brand.

In addition to this work, Monsanto's bioenergy program placed the first-ever U.S. corporate order for pick-up trucks that use E85, a blend of 85 percent ethanol and 15 percent gasoline. To date, the company has put Monsanto representatives behind the wheel of approximately 350 E85 vehicles.

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

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.

Nebraska Energy LLC is a joint venture between Aventine Renewable Energy, Inc. and the Nebraska Energy Cooperative.

Aurora Cooperative is an invested member of the Nebraska Energy Cooperative and provides the majority of the corn used for production at Nebraska Energy.

Grand Island, Nebraska
March 8, 2004

Monsanto's Fuel Your Profits^SM Initiative awards Hall County with its first E85 pump

The Nebraska Energy ethanol plant in Aurora, Nebraska, recently qualified under Monsanto Company’s Fuel Your Profits^SM initiative to have an E85 fuel pump installed free. Today, the E85 fuel pump grand opening took place at the Aurora Cooperative Fueling Center in Grand Island, Nebraska. Aurora Cooperative is an invested member of the Nebraska Energy Cooperative and provides a majority of the corn used in production at the Nebraska Energy ethanol plant.

Monsanto and the National Vehicle Coalition are pleased to sponsor the installation of the first E85 fuel pump for Hall County. This is the second E85 pump available in the state of Nebraska.

Today’s grand opening festivities included a special ribbon cutting ceremony led by Aurora Cooperative President George Hohwieler and many special guests, including 3^rd District Nebraska Congressman Tom Osborne, Nebraska Lieutenant Governor Dave Heineman, and Grand Island City Council President Jackie Pielstick.

Thanks to the additional support of Monsanto, the special guests enjoyed pumping free E85 fuel to customers in line for the first 85 minutes of the grand opening. A special price of $0.85 per gallon remained on E85 fuel until 5:30 p.m.

“Monsanto, along with the National Ethanol Vehicle Coalition, is very pleased to provide this local support to fuel E85 demand in your community,” said Robb Fraley, Monsanto’s executive vice president and chief technology officer. “Supporting renewable fuels is clearly aligned with our desire to produce products that benefit the environment and have a positive economic impact in rural America,” added Fraley.

The Monsanto Fuel Your Profits^SM initiative was announced last fall and is designed to increase the profitability potential of both corn growers and ethanol plants. The objectives are to deliver improved corn for the dry mill ethanol industry, drive increased ethanol fuel demand and expand ethanol fuel infrastructure to support that demand.

“We’re proud to be a part of the Fuel Your Profits^SM program,” said Tom Kell, Nebraska Energy’s plant manager. “This program has generated numerous benefits for us including having access to lists of Process Preferred® High Fermentable Corn seed brands and other Monsanto proprietary tools that identify hybrids that yield more ethanol. We’re also delighted that through the program we can now honor our community with its first E85 fuel pump that will drive demand and help raise awareness with motorists of this environmentally friendly, renewable resource.”

Nebraska Energy is one of 28 dry mill ethanol plants participating in the Monsanto Fuel Your Profits^SM program across nine states. These ethanol plants will produce 950 million gallons of ethanol and will utilize more than 350 million bushels of corn from 2.5 million acres from the 2004 harvest.

 “Ethanol production is a win-win for all involved. Processing plants mean more jobs and tax revenue to local communities,” said Lieutenant Governor Dave Heineman. “The ethanol plants mean another market for our farmers’ corn, which in turn takes that corn and creates a renewable fuel that consumers can feel good about using.”

Monsanto’s Commitment to Bioenergy

Today's Monsanto Fuel Your Profits^SM program announcement builds upon Monsanto's commitment to bioenergy - first outlined in 2001 as part of the Monsanto Pledge, a series of commitments describing the company's policies for products developed through biotechnology.

At our customers' request, Monsanto formed a bioenergy program to research ways to use biotechnology, conventional breeding, and crop analytics to improve the quantity and quality of bioenergy. Over the past two years, researchers at Monsanto have been working to identify commercial corn hybrids that may produce more cost-effective conversions and higher yields of ethanol per bushel of corn. Today's announcement highlights the results of that work through the Processor Preferred® High Fermentable Corn (HFC) brand.

In addition to this work, Monsanto's bioenergy program placed the first-ever U.S. corporate order for pick-up trucks that use E85, a blend of 85 percent ethanol and 15 percent gasoline. To date, the company has put Monsanto representatives behind the wheel of approximately 350 E85 vehicles.

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

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.

Nebraska Energy is a joint venture between Renewable Energy Inc. and the Nebraska Energy Cooperative.

Aurora Cooperative is an invested member of the Nebraska Energy Cooperative and provides the majority of the corn used for production at Nebraska Energy.