Scott, Mississippi
January 24, 2003

Delta and Pine Land Company (NYSE: DLP) ("D&PL"), a leading commercial breeder, producer and marketer of cotton planting seed, today announced that the Board of Directors declared a dividend of $0.06 per share, representing a 20% increase over the first quarter dividend of $0.05 per share. The second quarter dividend payable to the shareholders of record on February 28, 2003 will be paid on March 14, 2003.

D&PL noted the dividend increase would not negatively impact its ongoing common stock repurchase program. The company has purchased 1,184,300 shares under the plan at a value of $21.3 million and will continue to purchase its shares from time to time depending on market conditions and other factors.

Tom Jagodinski, President and Chief Executive Officer, said, "This increase in our quarterly dividend represents our continuing efforts to return cash to our shareholders. We will also continue to repurchase DLP stock in the market pursuant to our repurchase plan and have $28.7 million remaining available to repurchase shares under this plan."

Delta and Pine Land Company is a leading commercial breeder, producer and marketer of cotton planting seed. Headquartered in Scott, Mississippi, with multiple offices in eight states and facilities in several foreign countries, D&PL also breeds, produces and markets soybean planting seed in the U.S. where it sells cotton seed.