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                       [DEKALB GENETICS CORPORATION LOGO]

                           DEKALB GENETICS CORPORATION

                                 NEWS RELEASE

David R. Wagley 
Vice President & Treasurer 
(815) 758-9383

FOR IMMEDIATE RELEASE
WEDNESDAY, JUNE 3, 1988

DEKALB RECEIVES REQUEST FOR ADDITIONAL INFORMATION FROM DEPARTMENT OF JUSTICE
                           ON MONSANTO TRANSACTION

DEKALB, Illinois, June 3, 1998 -DEKALB Genetics Corporation and Monsanto Company
announced today that they have received requests for additional information and
other documentary materials from the U.S. Department of Justice (DOJ) under the
Hart-Scott-Rodino Act concerning Monsanto's previously announced acquisition of
DEKALB. This request extends the waiting period under the Hart-Scott-Rodino Act
during which the parties are prohibited from closing the transaction. The
companies said that they intend to comply with the DOJ's requests for
information as quickly as possible.

         On May 15, 1998 Monsanto commenced a cash tender offer for all of the
common stock of DEKALB at $100 net per share. The second step of the transaction
will be a merger in which any remaining stock of DEKALB will be exchanged for
cash at the same price per share paid in the tender offer. If the tender offer 
is not completed by May 9, 1999, the offer price will increase by 50 cents per
share on the 10th day of each month, starting on May 10, 1999.

         The tender offer is conditioned on the expiration of the
Hart-Scott-Rodino waiting period and other customary conditions. The tender
offer is currently scheduled to expire June 12, 1998. As previously disclosed,
under the terms of the merger agreement between Monsanto and DEKALB, Monsanto is
required to extend the tender offer pending satisfaction of the 
Hart-Scott-Rodino waiting period and the other conditions to the offer, but in
no event beyond November 9, 1999, unless the offer is earlier terminated in 
accordance with the terms of the merger agreement.

         DEKALB is a global leader in agricultural genetics and a top hybrid
seed corn company in the United States. It also has a strong presence in Latin
America, plus seed interests in Europe and Southeast Asia.  DEKALB currently
offers its customers Monsanto traits for YieldGard(R) insect-protected corn
and Roundup Ready(R) herbicide-tolerant corn.

         As a life science 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
21,900 employees worldwide make and market high-value agricultural products,
pharmaceuticals, and food ingredients.

NOTE: Roundup Ready and YieldGard are registered trademarks of, and used under 
license from, Monsanto Company.

         Based in Dekalb, Illinois, DEKALB Genetics Corporation is a worldwide
leader in agricultural genetics and biotechnology for seed and swine. DEKALB
Genetics Corporation Class B Common Stock is traded on the New York Stock
Exchange under the symbol DKB.

         Forward-looking statements are subject to several risk factors that
could cause actual results to differ from projections Among these factors 
are the  company's relative product performance and competitive market position,
weather conditions, commodity prices, trade market conditions, and 
intellectual property matters.

NOTE: DEKALB news releases are available at no charge through PR Newswire's 
Company News On-Call fax service and on DEKALB's Web site. For a menu of
DEKALB's press releases or to retrieve a specific release, call 800-758-5804, 
extension 262250, or http://www.dekalb.com on a the Internet.


                   3100 Sycamore Road, DeKalb, IL 60115-9600
                         815-758-3461 FAX: 815-758-3711