Delta and Pine Land Company, a commercial breeder, producer and marketer of cotton planting seed, today announced results for the first quarter ended November 30, 1998. Due to the seasonal nature of the seed business, DLP typically incurs losses in its first and fourth fiscal quarters.

The Company reported a net loss of $6,439,000 or $0.17 per share, compared to a net loss of $4,641,000 or $0.12 per share, posted in the same period in fiscal 1998.

Average shares outstanding during the first quarter of 1999 were 38,380,000 compared to 37,721,000 for the same period last year after adjustment for stock splits.

Revenues were $7,195,000 compared to $5,340,000 recorded in the same period last year. Revenues increased as a result of increased sales bv the DLP's joint venture in China and increased sales in Australia.

As planned, operating expenses before unusual charges increased $1,914,000 over the same period last year primarily due to additional research and development, and selling and promotional costs.

The Company also announced that the quarterly dividend of $0.03 per share previously declared payable to the shareholders of record on November 3 0, 199 8, was paid on December 11.

Delta and Pine Land Company is a commercial breeder, producer and marketer of cotton planting seed. Headquartered in Scott, Mississippi, with multiple offices in seven states and facilities in several foreign countries, DLP also breeds, produces and markets soybean planting seed. Delta and Pine Land Company common stock trades on the NYSE under the symbol "DLP".

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