Monsanto Initial Public Offering Priced at $20 Per Share

    ST. LOUIS, Oct. 18 /PRNewswire/ -- Monsanto Company, a subsidiary of
 Pharmacia Corporation (NYSE:   PHA), today announced that its initial public
 offering of 35 million shares of common stock was priced at $20 per share.
 All of the shares, which will be traded on the New York Stock Exchange under
 the ticker symbol MON, were offered by Monsanto.
     Goldman, Sachs & Co. is acting as the book running lead manager for the
 offering.  Salomon Smith Barney is acting as the joint lead manager.  J.P.
 Morgan & Co., Morgan Stanley Dean Witter, Bear, Stearns & Co. Inc., and
 Merrill Lynch & Co. are co-managers for the offering.  Monsanto has granted
 the underwriters a 30-day option to purchase up to an additional 5,250,000
 shares of common stock to cover over-allotments, if any.  Copies of the final
 prospectus relating to the offer may be obtained from Goldman, Sachs & Co. at
 85 Broad Street, New York, NY  10004, 212-902-1000.
     Monsanto Company provides integrated, technology-based agricultural
 solutions for growers and downstream customers in agricultural markets.  The
 company's corporate headquarters are located in St. Louis.  Following
 completion of the offering, Pharmacia Corporation will continue to own more
 than 84 percent of Monsanto's common stock.
     This press release shall not constitute an offer to sell or the
 solicitation of an offer to buy nor shall there be any sale of these
 securities in any state in which such offer, solicitation or sale would be
 unlawful prior to registration or qualification under the securities laws of
 any such state.
 
 

SOURCE Monsanto Company

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