Exhibit 99


                                                       MONSANTO COMPANY
                                                       800 NORTH LINDBERGH BLVD
                                                       ST. LOUIS, MISSOURI 63167


RELEASE        Immediately

CONTACT        Lori Fisher (314)-694-8535)


MONSANTO'S BOARD OF DIRECTORS ACCEPTS HENDRIK A. VERFAILLIE'S RESIGNATION AS
CHIEF EXECUTIVE OFFICER

     ST.  LOUIS (Dec.  18,  2002) - Monsanto  Company  Chief  Executive  Officer
Hendrik A.  Verfaillie  has submitted  his  resignation,  as CEO,  president and
director of the board, effective immediately.  Monsanto's Board of Directors has
accepted Verfaillie's resignation Chairman Frank V. AtLee III announced today.

     AtLee will  continue as chairman of the board and will serve as interim CEO
while an external search is conducted.

     Verfaillie has been with Monsanto for 26 years.  He led the company through
the merger with Pharmacia & Upjohn, a subsequent  initial public  offering,  and
the complete spinoff from Pharmacia  Corporation,  which took place earlier this
year.

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

                                     -oOo-