Delta and Pine Land Company, a commercial breeder, producer and marketer of cotton planting seed, today announced results for the first quarter ended November 30, 1999. Due to the seasonal nature of the seed business, DLP typically incurs losses in its first and fourth fiscal quarters.

The Company reported a net loss before the cumulative effect of a change in accounting principles and before special and unusual charges related to the now abandoned Monsanto merger of $6,261,000 or $0.16 per share for the first quarter ended November 30, 1999, compared to a net loss of $5,931,000 or $0.15 per share, posted in the same period in the prior year. The
Company adopted the provisions of a recently issued accounting pronouncement and changed its 
method of accounting for startup and related costs. The Company reported a net loss, after the
cumulative effect of a change in accounting principles and after special and unusual charges, of
$9,516,000 or $0.25 per share in fiscal 2000 compared to a net loss of $6,463,000 or $0.17 per
share in the comparable period in fiscal 1999.

Revenues were $4,549,000 compared to $7,195,000 recorded in the same period last year. The
decrease in sales is primarily the result of a delay in shipments by the Company's foreign
subsidiaries primarily China into the second quarter of 2000. Average shares outstanding during
the first quarter of 2000 were 38,662,000 compared to 38,380,000 for the same period last
year.

The Company also announced that the quarterly dividend of $0.03 per share previously declared
payable to the shareholders of record on November 30, 1999, was paid on December 13, 1999.

Delta and Pine Land Company is a commercial breeder, producer and marketer of cotton
planting seed. Headquartered in Scott, Mississippi, with multiple offices in seven states and
facilities in several foreign countries, DLP also breeds, produces and markets soybean planting
seed. Delta and Pine Land Company common stock trades on the NYSE under the symbol
``DLP.'' 

Company news release
N2392