May 4, 2001 -- Roundup Ready cotton has received full commercial approval from the government of Argentina. This is the first time Argentina has approved the use of genetically modified seed since July 1998.

Marcelo Regunaga, Argentina's agriculture, livestock, fish and food secretary issued the final approval for the full commercialization of Roundup
Ready cotton in Argentina on April 27, 2001. Regunaga's directive comes after review and evaluation by CONABIA, Argentina's national advisory agency on
biotechnology and SENASA (National Service of Food Safety and Foreign Markets Agency).

Completion of the Argentine regulatory review process allows Monsanto to move ahead with plans to commercialize Roundup Ready technology in cotton
during the 2001 growing season.

"The approval is yet another signal that biotechnology is continuing to grow throughout the world and that farmers and governmental regulators see the
very real benefits of this technology," says Randy Deaton, Monsanto global cotton business lead. "Roundup Ready cotton offers growers greater simplicity in
weed control, a reduced need for tillage, the opportunity to save valuable soil moisture and nutrients as well as reducing their overall input cost."

The Roundup Ready cotton varieties will be offered for sale through CDM Mandiyu S.R.L., a joint venture company between Ciagro, Delta and Pine Land
Company and Monsanto. CDM Mandiyu and Monsanto plan to make the Roundup Ready technology available in varieties bred by National Institute of Ag Technology
(INTA) and Delta and Pine Land on a limited number of acres.

"Consistent with our practice for insect-protected Biogodon cotton (known as Bollgard or Ingard in other countries), Argentine farmers will pay a
technology fee for use of the Roundup Ready trait," Deaton says.

"While the amount of the fee has not yet been established, we expect it to reflect the value the Roundup Ready technology brings to Argentine farmers,"
Deaton says. "Roundup Ready cotton seed is covered by intellectual property laws in
Argentina; so seed saving will not be allowed."

A small commercial launch in Argentina is expected, although the amount of seed that will be available in the fall of 2001 has yet to be determined "This launch will give Argentine growers a chance to
evaluate the technology on a production scale basis," Deaton says.