Delta and Pine Land Company (NYSE: DLP - "D&PL"), a leading commercial breeder, producer and marketer of cotton planting seed, today announced that the Board of Directors declared a dividend of $0.12 per share, representing a 20% increase over the first quarter dividend of $0.10 per share. D&PL has increased its quarterly dividend by 100% from the second quarter of last year. The second quarter dividend, payable to shareholders of record on February 27, 2004, will be paid on March 12, 2004.

Tom Jagodinski, President and Chief Executive Officer, said, "We are pleased that D&PL is again in a position to increase the dividend and directly reward our shareholders. The increase in the dividend reflects management and the Board's belief in the strength of the Company. We remain committed to our stock repurchase program, and have approximately $23.0 million remaining available to repurchase shares under this plan."

Delta and Pine Land Company is a leading commercial breeder, producer and marketer of cotton planting seed. Headquartered in Scott, Mississippi, with multiple offices in eight states and facilities in several foreign countries, D&PL also breeds, produces and markets soybean planting seed in the U.S.