ConAgra Grain Companies today announced a joint marketing agreement with Monsanto Company for ConAgra to accept from U.S. producers, until further notice, corn that has been developed using biotechnology. For no additional handling fee, ConAgra Grain will separate, or "identity preserve,'' this corn for sale in markets that have approved the use or import of corn with traits developed through biotechnology. ConAgra will provide identity preservation for unapproved export corn with the understanding that the producer will identify the delivered corn as genetically enhanced.

"ConAgra Grain Companies wants all producers to have a choice in the kinds of crops they
grow,'' said Jim Anderson, president, ConAgra Grain Companies. "Growers should have the
freedom to plant hybrids which give them the highest quality and maximum yields for the lowest
costs. Further, this will help growers have the widest range of options for effectively controlling
weeds and pests.''

U.S. growers will now have the potential of gaining a competitive edge by using products like
Roundup Ready Corn and other genetically enhanced corn, knowing ConAgra Grain will work
to effectively market this corn at the best available market price. "Since nearly 80 percent of the
corn grown in the U.S. is used in the U.S., we want to work closely with the American
producers who are helping increase the efficiency and effectiveness of agriculture with new
products like Roundup Ready Corn,'' said Anderson.

ConAgra Grain Companies, part of ConAgra Trade Group, is a global grain merchandiser with
more than 100 U.S. elevators located in major grain production states. ConAgra Trade Group
and ConAgra Grain are part of ConAgra, Inc., a diversified international food company
headquartered in Omaha. ConAgra Trade Group and ConAgra Grain Companies also are
headquartered in Omaha.

Company news release
N1843