Maharashtra Hybrid Seeds Company Limited (Mahyco), Monsanto's seed partner in India, announced today that it had received commercial approval for its insect-protected hybrid cotton seed from the Indian Genetic Engineering Approval Committee (GEAC).

"We are pleased that cotton growers will now have the choice to plant insect-protected cotton seeds," said Raju Barwale, Managing Director of Mahyco.

"For years, Indian cotton growers have suffered from the effects of heavy bollworm infestations that have destroyed crops across the country and deprived them of profits. Growers can now feel confident that they have a solution to help them fight this pest," he said.

"Today's announcement is also an encouraging step for the emerging plant biotechnology industry in India," Barwale said.

Under the GEAC approval, cotton seed will be available in India for the 2002 growing season, which is scheduled to begin in the second quarter. The insect-protected technology will be marketed under the Bollgard brand name.

"This approval is yet another signal that biotechnology is continuing to grow throughout the world as farmers and governmental regulators see the very real benefits of this technology," said Robb Fraley, Ph.D., executive vice president and chief technology officer for Monsanto.

"Our insect-protected cotton technology is helping cotton growers globally protect their fields against damaging insect pests while reducing the use of chemical pesticides in the environment," Fraley added.

According to estimates by the Environmental Protection Agency, United States growers that planted Bollgard cotton reduced their insecticide application by 1.6 million pounds in just one year. In contrast, each year American growers of conventional cotton were forced to spray on average two and one-half more insecticide applications per acre than growers planting Bollgard, Bt insect-protected cotton.

GEAC's decision completes an extensive six-year assessment process in India for insect-protected cotton that included numerous and comprehensive safety studies conducted on the product, examination of environmental effects and an assessment of technology stewardship.

"Mahyco has worked diligently over the last six years, in compliance with the regulatory requirements stipulated by local authorities, to demonstrate the safe use and effectiveness of this technology," Barwale said.

Terms and conditions of the approval will be specified at a later date.

Monsanto's insect-protected cotton technology, first commercialized in 1996, is commercially sold in seven countries -- the United States, China, Mexico, Australia, Argentina, South Africa and Indonesia. The International Service for the Acquisition of Agri-Biotech Applications (ISAAA) recently noted that biotech cotton acreage was approximately 6.8 million hectares in 2001 or 16.8 million acres. This is an increase of 28 percent from the 2000 biotech cotton acreage, which was approximately 5.3 million hectares.

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

Established in 1964, Mahyco was one of the key companies that helped usher in the Green Revolution. Founded by 1998 World Food Prize winner B. R. Barwale, Mahyco played a pioneering role in developing the private seed Industry in India and is India's largest private sector seed company today. It offers farmers a broad range of products in 38 crop species through a network of 5,000 sales outlets across India. The Mahyco Life Sciences Research Centre near Jalna is one of Asia's most advanced seed industry R&D establishments.