Monsanto Company announced today it successfully completed the sale of Monsanto's cotton seed unit, Stoneville Pedigreed Seed Company, to an investment group lead by Hicks, Muse,
Tate & Furst and its affiliate Emergent Genetics, Inc. The investment group also includes the senior management team of Stoneville. The transaction involved the sale of all Stoneville stock for cash. The financial terms of the deal were not disclosed.

Monsanto and the investment group signed a definitive agreement for the sale of Stoneville in August. As indicated in the sale agreement, Stoneville's management team -- led by President Thomas F. (Bud) Hughes -- will remain in place. Additionally, all current Stoneville employees have been offered employment under the new ownership structure.

Since its formation in 1989, Hicks, Muse, Tate & Furst has completed or currently has pending more than 300 transactions with a total capital value in excess of $36 billion. Headquartered in Dallas, the firm also has offices in New York, London, Mexico City and Buenos Aires.

Emergent Genetics is a firm whose principals have been actively involved in the seed and biotech industries for over 20 years. It has combined its years of experience in the agricultural industry with the financial strength and development capabilities of Hicks, Muse, Tate & Furst. Together, they focus on direct equity investments in established seed and biotech companies, and then grow them with additional capital investment.

Monsanto is a life sciences company, committed to finding solutions to the growing global needs for food and health by sharing common forms of science and technology among agriculture, nutrition and health. The company's 30,200 employees worldwide research, make and market high-value agricultural products, pharmaceuticals and nutrition-based health products.

Company news release
N2355