The Argentina government's approval today of the planting of Monsanto's Roundup Ready corn event, NK603, will lead to an increased number of biotechnology acres planted in that country and around the world as growers continue to realize the value and benefits of the technology.

"This is the second important biotech approval in recent weeks following the approval by Japanese regulators of the YieldGard Plus stacked corn trait for importation," says Brett Begemann, Executive Vice-President of International Commercial, Monsanto Company. "The new approval in Argentina indicates that the major crop-producing countries around the world continue to recognize the safety and benefits of biotechnology agricultural products."

Roundup Ready soybeans and cotton, and insect-protected corn and cotton are already approved for planting in Argentina. Roundup Ready corn will be available to growers this fall in limited quantities of Monsanto's branded corn seed for the 2004 planting season in Argentina and should be available more widely in the 2005 and 2006 growing season. "Like farmers in Argentina, Monsanto has experienced a good return on its investment on insect protected corn in Argentina," said Begemann.

In the 2003-2004 growing season, 6 million acres of corn were grown in Argentina, and Monsanto's branded corn seed market share was estimated at approximately 45 percent. The company's Maizegard insect-protected corn was planted on over 2 million acres in Argentina. The long-term potential market for Roundup Ready corn from sales of both single and stacked traits, could potentially reach 5 million acres assuming that stacked traits are approved in Argentina, and the these traits are broadly licensed to seed companies.

Additionally, the size of the potential market will be affected by the company's ability to receive import approvals for Roundup Ready corn in other world areas, notably Europe. Actual acreage will depend on many additional factors, such as business, economic and weather conditions. The trait initially will be sold in Monsanto's branded seed, and like Maizegard, will be part of the total cost of the branded seed. On a per acre basis, initial pricing for Monsanto's Roundup Ready corn trait in Argentina will be in the range of pricing for Monsanto's Roundup Ready corn trait in other global areas.

Monsanto's biotech acres grew to 172 million acres in 2004 from 150 million acres in 2003. In addition, a recent study by the International Service for the Acquisition of Agri-Biotech Applications (ISAAA) found that a total of 7 million farmers in 18 countries plant biotech crops and six million of those are farmers in the developing world.

Roundup Ready crops allow growers to use Roundup glyphosate-based agricultural herbicides over the top of growing plants, thereby offering more effective weed control with an herbicide that has a favorable environmental profile.

Monsanto Company (NYSE: MON) is a leading provider of agricultural solutions to growers worldwide. Monsanto's employees provide top-quality, cost-effective and integrated approaches to help farmers improve their productivity and produce better quality foods.