Delta and Pine Land Company today issued the following statement in response to the announcement by Monsanto Company that Monsanto has withdrawn its antitrust filing with the Department of Justice for the proposed merger with Delta Pine, effectively ending Monsanto's efforts to complete the transaction:

"We are disappointed that Monsanto has chosen to end its efforts to secure antitrust approval for
this transaction. Under the terms of the merger agreement, Monsanto is obligated to pay Delta
Pine a termination fee of $81 million. In addition, we are evaluating our legal rights and will take all
appropriate actions to protect our shareholders. We are engaged in discussions with Monsanto
regarding these matters.''

"Delta Pine is well positioned to compete successfully as an independent, customer-focused
company offering farmers the highest quality genetics, technology, information and seed. The
Company's fundamentals are strong, and we expect to produce earnings of at least $.85 per share in our current fiscal year ending August 31, 2000, based in part on the National Cotton Council's preliminary estimate of 15 million acres of cotton planted in 2000.''

It is the nature of agricultural seed businesses that supply, demand and their timing are affected by many variables, including commodity prices, weather, farmer financing and governmental policy. Due to the seasonal nature of the seed business, the Company typically incurs losses in its first and fourth quarters. Additional risks and uncertainties with respect to the Company's businesses and forward-looking statements are set forth in the Company's latest filings with the Securities and Exchange Commission.

Delta and Pine Land Company is a commercial breeder, producer and marketer of cotton planting
seed. Headquartered in Scott, Mississippi, with offices and facilities in seven states and several
foreign countries, DLP also breeds, produces and markets soybean planting seed.

Company news release
N2334