Delta and Pine Land Company (NYSE:DLP) ("D&PL"), a leading commercial breeder, producer and marketer of cotton planting seed, learned today of an arbitration filing by Monsanto Company (NYSE:MON)
("Monsanto") under certain licenses with D&PL. (see related news release)

D&PL has not yet received a copy of the arbitration filing that Monsanto discussed in its press release made this morning. D&PL does not believe it has violated the terms of any of its agreements with Monsanto. The issues Monsanto raised during the dispute resolution process have been reviewed carefully and D&PL believes these claims are without merit.

Once the arbitration filing has been received, the Company intends to respond appropriately. As previously reported in D&PL's publicly filed documents, D&PL and Monsanto have had in-depth negotiations regarding various commercial disputes, some raised by D&PL and some by Monsanto, which are covered by the Bollgard* and Roundup Ready* technology licenses with Monsanto.

The arbitration filing purportedly relates to some of the issues that remain unresolved. Pursuant to the terms of these licenses, matters in dispute must first be submitted to a panel of Senior Management to seek resolution. If the issues cannot be resolved by the panel, either party may submit the disputed issues to arbitration.

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.