New Monsanto Devoted Completely to Agriculture: Focusing on Creating Value For Farmers and Shareowners

Monsanto Shareowners Approve Annual Incentive and Phantom Share Programs,

Board Members and Auditors at the Company's 1st Annual Meeting



Apr 18, 2001, 01:00 ET from Monsanto Company

    ST. LOUIS, April 18 /PRNewswire/ -- Monsanto Company (NYSE:   MON) held its
 first annual meeting of stockholders today after a partial initial public
 offering of its stock to investors last October.  Although the Monsanto name
 has been part of the business world for nearly 100 years, President and Chief
 Executive Officer Hendrik A. Verfaillie said the new Monsanto is devoted
 completely to agriculture and is creating value through a business model that
 combines herbicides, biotechnology traits and genomics into integrated
 solutions for its customers.
     Verfaillie also noted that the company is focusing its efforts in three
 areas for 2001:
     (1) Growing sales of Roundup herbicide through brand leadership and volume
         growth;
     (2) Gaining approvals for biotechnology traits and commercializing them
         globally; and
     (3) Realizing the full value of the company's new product pipeline.
 
     At the annual meeting, shareowners elected the nine current members of its
 board of directors to new, one-year terms.  Those elected include:  Frank V.
 AtLee III, chairman; Hakan Astrom; Christopher J. Coughlin; Michael Kantor;
 Gwendolyn S. King; C. Steven McMillan; William U. Parfet; John S. Reed; and
 Verfaillie.
     Shareowners also approved the company's Phantom Share Agreements and
 Annual Incentive Program, thereby exempting payment of awards to certain
 executive officers from deduction limitations for U.S. tax purposes.
 Deloitte & Touche LLP also were ratified as principal independent auditors for
 the company.
     Monsanto Company, an 85 percent owned subsidiary of Pharmacia Corporation
 (NYSE:   PHA), is a leading global provider of technology-based solutions and
 agricultural products that improve farm productivity and food quality.  For
 more information on Monsanto, see: www.monsanto.com .
 
 

SOURCE Monsanto Company
    ST. LOUIS, April 18 /PRNewswire/ -- Monsanto Company (NYSE:   MON) held its
 first annual meeting of stockholders today after a partial initial public
 offering of its stock to investors last October.  Although the Monsanto name
 has been part of the business world for nearly 100 years, President and Chief
 Executive Officer Hendrik A. Verfaillie said the new Monsanto is devoted
 completely to agriculture and is creating value through a business model that
 combines herbicides, biotechnology traits and genomics into integrated
 solutions for its customers.
     Verfaillie also noted that the company is focusing its efforts in three
 areas for 2001:
     (1) Growing sales of Roundup herbicide through brand leadership and volume
         growth;
     (2) Gaining approvals for biotechnology traits and commercializing them
         globally; and
     (3) Realizing the full value of the company's new product pipeline.
 
     At the annual meeting, shareowners elected the nine current members of its
 board of directors to new, one-year terms.  Those elected include:  Frank V.
 AtLee III, chairman; Hakan Astrom; Christopher J. Coughlin; Michael Kantor;
 Gwendolyn S. King; C. Steven McMillan; William U. Parfet; John S. Reed; and
 Verfaillie.
     Shareowners also approved the company's Phantom Share Agreements and
 Annual Incentive Program, thereby exempting payment of awards to certain
 executive officers from deduction limitations for U.S. tax purposes.
 Deloitte & Touche LLP also were ratified as principal independent auditors for
 the company.
     Monsanto Company, an 85 percent owned subsidiary of Pharmacia Corporation
 (NYSE:   PHA), is a leading global provider of technology-based solutions and
 agricultural products that improve farm productivity and food quality.  For
 more information on Monsanto, see: www.monsanto.com .
 
 SOURCE  Monsanto Company