ST. LOUIS (June 27, 2006) - Monsanto Company (NYSE: MON) today announced that its Board of Directors has approved a two-for-one split of the company's common stock effected in the form of a stock dividend. The stock split will be payable on July 28, 2006, to shareowners of record at the close of business on July 7, 2006.

Monsanto shareowners will be issued one additional common share for every common share held in the company on the record date. Monsanto had approximately 270 million shares of common stock outstanding as of May 31, 2006. Upon completion of the split, the company will have approximately 540 million shares of common stock outstanding.

The company currently expects that shares of its common stock will begin trading on a split basis at the beginning of trading on July 31, 2006; however, this timing is contingent on processing of the transaction by the New York Stock Exchange.

Monsanto also announced today that its Board of Directors declared a quarterly cash dividend on its common stock of 20 cents per share. The cash dividend is payable to shareowners on July 28, 2006, on common stock held at the close of business on the record date of July 7, 2006. The cash dividend will be paid on pre-split shares held by shareowners at the close of business on the record date of July 7, 2006.

Monsanto Company 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: http://www.monsanto.com/ .

SOURCE: Monsanto Company

CONTACT: Media, Lee Quarles, +1-314-694-2330, or Analysts, Scarlett Lee
Foster, +1-314-694-8148, both of Monsanto Company

Web site: http://www.monsanto.com/

Company News On-Call: http://www.prnewswire.com/comp/114341.html