Monsanto Company announced today that its Board of Directors has authorized the purchase of up to $800 million of the company's common stock over a four-year period.

"The share repurchase initiative underscores the board's confidence in the company's strategy and in the strong cash-generating capabilities of Monsanto," said Terry Crews, Executive Vice President and Chief Financial Officer of Monsanto. "Today's announcement continues the company's commitment to return value to our shareowners."

For August 2005, Monsanto's weighted-average diluted shares of outstanding common stock was approximately 273 million.

In other matters, Monsanto announced that its Board of Directors designated Tuesday, Jan. 17, 2006 as the date of the next annual meeting of shareowners. The meeting will be held at the company's headquarters facility in suburban St. Louis. Additional meeting details will be included in the company's proxy statement, which will be mailed in mid-December. The record date for Monsanto's 2006 annual meeting of shareowners is Nov. 18, 2005.

Monsanto Company (NYSE: MON) is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality.