EXHIBIT 99

CONTACT    :      Scarlett Lee Foster - Monsanto Company (314-694-2883)
                  W.T. Jagodinski - Delta and Pine Land Company (601-742-4518)


BOARD OF DELTA AND PINE LAND APPROVES EXTENSION OF TIME TO COMPLETE MERGER WITH
MONSANTO

SCOTT, MISS., and ST. LOUIS (May 21, 1999) - The board of directors of Delta and
Pine Land Company voted today to extend the timeframe for  completing the merger
with Monsanto Company from June 30, 1999 until Dec. 31, 1999.

"We continue to make progress on completing this  transaction.  However,  rather
than be constrained by the deadline  originally provided in the merger agreement
our board  chose to extend the timing for  completing  the  merger,"  said Roger
Malkin, chairman and chief executive officer of Delta and Pine Land.

"Our  relationship  with Delta and Pine Land  continues to be  outstanding,  and
we're looking forward to closing this transaction as soon as regulatory  reviews
are complete," added Hendrik A. Verfaillie, president of Monsanto Company.

As a life sciences  company,  Monsanto is committed to finding  solutions to the
growing  global needs for food and health by sharing common forms of science and
technology  among  agriculture,  nutrition  and  health.  The  company's  31,800
employees   worldwide  make  and  market   high-value   agricultural   products,
pharmaceuticals and food ingredients.

Delta and Pine Land  Company is a leading  breeder,  producer  and  marketer  of
cotton planting seed. Headquartered in Scott,  Mississippi,  Delta and Pine Land
has offices in seven states and facilities in several foreign countries.

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