Scott, Mississippi
July 17, 2003

Delta and Pine Land Company (NYSE: DLP; "D&PL"), a leading commercial breeder, producer and marketer of cotton planting seed, today announced that the Board of Directors declared a dividend of $0.10 per share, representing a 67% increase over the third quarter dividend of $0.06 per share. The fourth quarter dividend, payable to shareholders of record on August 29, 2003, will be paid on September 15, 2003.

D&PL also noted it would continue its common stock repurchase program. The Company has purchased 1,265,900 shares under the plan at a value of $22,900,000 and will continue to purchase its shares subject to market conditions and other factors.

Tom Jagodinski, President and Chief Executive Officer, said, "We are pleased that D&PL is in a position to increase the dividend paid to our shareholders. This increase represents a 100% increase in our quarterly dividend since the first quarter of this year. The dividend reflects management and the Board's belief in the strength of the Company and our commitment to return a significant portion of our free cash flow to our shareholders. Furthermore, we will continue to repurchase DLP stock in the market pursuant to the $50 million repurchase plan previously announced."

Delta and Pine Land Company is a commercial breeder, producer and marketer of cotton planting seed. Headquartered in Scott, Mississippi, with multiple offices in eight states and facilities in several foreign countries, DLP also breeds, produces and markets soybean planting seed.