St. Louis, Missouri
May 31,  2001

In a step toward the fulfillment of one of the five tenets of the New Monsanto Pledge, Monsanto President and Chief Executive Officer Hendrik Verfaillie announced today the formation of the
Biotechnology Advisory Council, an independent advisory body comprised of policy, business and opinion leaders.

The charter members of the Biotechnology Advisory Council include:

• Dr. Jeffrey Sachs, Director of the Center for International Development at Harvard University; 
• Dr. Paul Thompson, Professor of Biology and Philosophy at the University of Toronto; 
• Dr. Don Doering, Senior Associate for Biological Resources and Business at the World Resources Institute; 
• Congressman Tom Ewing, former U.S. Congressman from Illinois who served on the House Agricultural Committee and also currently serves on the new Monsanto Grower Council as its chairman; and 
• Dr. Lynn Goldman, pediatrician and professor at the Bloomberg School of Public Health at Johns Hopkins University, principal investigator for the Children's Health component of Pew Environmental Health Commission, and formerly an assistant administrator with the U.S. Environmental Protection Agency, Office of Prevention, Pesticides and Toxic Substances.

The charter of the Council charges its members to improve how Monsanto serves society by sharing the perspectives of external constituencies, identifying emerging issues, reviewing progress on the New Monsanto Pledge and by engaging in intensive dialogue on important decisions and policy. The first meeting of the Biotechnology Advisory Council was held in St. Louis, May 14-15.

``We made a commitment through the Monsanto Pledge to listen better, learn from what we are hearing, and, in some cases, act and do things differently,'' said Verfaillie. ``By establishing a Biotechnology Advisory Council, we've put in place a formal mechanism to engage a diverse group of people from a variety of disciplines and perspectives in dialogue and turn what we hear into action.''

In November, Verfaillie announced the New Monsanto Pledge, a five-point declaration that governs how Monsanto will behave as a new company. Foremost among the five areas of commitment outlined in the Pledge -- Dialogue, Transparency, Sharing, Respect and Delivering Benefits -- is the commitment that: ``We commit to an ongoing dialogue with all interested parties to understand the issues and concerns related to this technology.''

The New Pledge specifically states: ``[W]e commit to create an external Biotechnology Advisory Council from a range of constituencies with an interest in biotechnology to meet, discuss, advise and help us make decisions.''

The Biotechnology Advisory Council will have discussions and make all recommendations directly to Verfaillie for consideration and implementation. The Panel will meet at least twice annually and will ultimately expand to include up to 10 panel members.

``We know that our success as a business and society's acceptance of biotechnology will hinge in part on how well we take account of and contribute to the advancement of broader public interests,'' said Verfaillie. ``We believe sincerely that this Biotechnology Advisory Council will foster the dialogue and learning that will positively influence the decisions that direct Monsanto's business.''

Monsanto extended invitations to the members of the Biotechnology Advisory Council based on their high credibility, expertise in a diverse range of relevant areas, and personal interest in issues surrounding agricultural biotechnology.

``This new Advisory Council should be of significant benefit for Monsanto and for various groups with important stakes in the new biotechnologies,'' said Dr. Sachs. ``I heartily applaud Monsanto for reaching out to experts in a variety of relevant fields. This kind of intensive dialogue will not only help corporate decision-making, but should also greatly facilitate responsible debate and use of these technologies more generally.''

As the inaugural members of the Biotechnology Advisory Council, one of the first decisions of the Council members will be to make recommendations of additional members to fill out the Council's membership.

Monsanto has also contracted with an outside group, The Keystone Center, to facilitate all meetings of the Council, moderate discussions and ensure the objectivity and autonomy of the group is maintained. The Keystone Center is a neutral, non-profit, public policy and educational organization founded in 1975 that strives to develop creative problem-solving processes that assist diverse parties to address issues of importance.

Kate Fish, Monsanto vice president of public policy, will serve as host and coordinator of the Biotechnology Advisory Council.

In March, Monsanto also convened a Grower Advisory Council, which was also constituted as a result of the ``Dialogue'' commitment of the New Monsanto Pledge. The Grower Advisory Council was formed in order to ensure that Monsanto's U.S. agricultural operations reflect the interests of its customers -- the U.S. farmer.

Feedback, outcomes and specific recommendations from the Grower Advisory Council and the Biotechnology Advisory Council will be coordinated to ensure Monsanto's management team receives the maximum benefit of all insight from these expert parties.

For the full-text of the New Monsanto Pledge or for additional information on the Pledge, please see: http://www.monsanto.com . 

Monsanto Company (NYSE: MON - news) is a leading global provider of technology- based solutions and agricultural products that improve farm productivity and food quality. For more information on Monsanto, see: http://www.monsanto.com .  

Company news release
N3560