Pioneer Hi-Bred International, Inc. today announced that the Company's Board of Directors has set August 26, 1999 as the record date for voting on the merger transaction with DuPont in which DuPont will acquire the 80 percent of Pioneer it does not currently own.

Pioneer shareholders of record at the close of business on that date will be eligible to vote on the
merger. The Company has not yet set the date of the Pioneer shareholder meeting to approve the
proposed merger, which is expected to be completed in the early fall subject to clearance of the
proxy statement by the Securities and Exchange Commission.

Under the terms of the merger agreement, Pioneer shareholders will receive $40 per share. In
aggregate, 45 percent of the shares will receive cash and 55 percent will receive DuPont stock.
Pioneer shareholders will have certain rights to elect which form of consideration they receive. The
total equity value of the transaction is estimated to be approximately $7.7 billion for the 80 percent of Pioneer not currently owned by DuPont.

The offering of DuPont stock in connection with the Pioneer merger will be made under an effective registration statement. A proxy statement/prospectus is expected to be mailed to Pioneer shareholders.

Pioneer Hi-Bred International, Inc. is the world's leading supplier of agricultural genetics and is the
leading developer and integrator of agricultural technology. Headquartered in Des Moines, Iowa,
Pioneer develops, produces, and markets a full line of seeds, forage and grain additives and services to grain and livestock producers, grain processors, and other customers worldwide.

Company news release
N2056