Monsanto Company has withdrawn its filing for approval of the proposed merger with Delta & Pine Land Company in light of the continued delays in the Hart Scott Rodino review and demands by the U.S. Department of Justice (DOJ). Monsanto will continue to offer its innovative technologies to cottonseed companies including D&PL so that cotton farmers worldwide will have the latest technologies to improve insect and weed control.

"We worked in good faith for over a year with the DOJ to address their concerns and complete a
merger that maintained competition in the sale of cottonseed. Unfortunately, we were unable to
come to an understanding that would have let us to go forward with this transaction,'' said Hendrik
A. Verfaillie, president and chief operating officer of Monsanto. "While the withdrawal of the filing
does not preclude additional efforts with the Department, we can not be optimistic that they will
succeed.''

The two companies will be meeting to discuss certain issues -- including a merger termination fee
associated with today's decision.

Monsanto is a life sciences company, committed to finding solutions to the growing global needs
for food and health by sharing common forms of science and technology among agriculture,
nutrition and health. The company's 30,200 employees worldwide make and market high-value
agricultural products, pharmaceuticals and food ingredients.

Company news release
N2335