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Biotech / Medical : American Home Products AHP -- Ignore unavailable to you. Want to Upgrade?

To: Henry Niman who wrote (117)	8/25/1998 12:22:00 PM
From: Rob C.	Read Replies (1) \| Respond to of 169

If this is a long term purchase, why not buy DLP??? You will end up with AHP eventually, and pay a 10 % discount. See below release for details, please let me know if my thinking is wrong in anyway. SCOTT, Miss., and ST. LOUIS, Aug. 6 /PRNewswire/ -- Monsanto Company (NYSE: MTC) and Delta and Pine Land Company (NYSE: DLP) announced today that the period during which the exchange ratio could be adjusted pursuant to the May 8, 1998, Monsanto/DLP merger agreement has expired, thereby establishing the final exchange ratio. At the closing of the merger, each share of DLP common stock will be exchanged for .8625 shares of Monsanto common stock assuming the Monsanto/DLP merger is closed prior to the American Home Products (AHP) Corporation/Monsanto merger. If the AHP/Monsanto merger closes prior to the Monsanto/DLP merger, then each share of DLP common stock will instead be exchanged for .991875 shares of the AHP/Monsanto merged company common stock. As previously disclosed, Monsanto and DLP have received requests for additional information and other documentary materials from the U.S. Department of Justice (DoJ) under the Hart-Scott-Rodino Act concerning the merger. This request extends the waiting period under the Hart-Scott-Rodino Act during which the parties are prohibited from closing the transaction. The companies are in the process of complying with the DoJ's requests for informnation and are seeking to do so promptly. As a life sciences company, Monsanto is committed to finding solutions to the growing global needs for food and health by sharing common forms of science and technology among agriculture, nutrition and health. The company's 24,700 employees worldwide make and market high-value agricultural products, pharmaceuticals and food ingredients. Delta and Pine Land Company is a leading breeder, producer and marketer of cotton planting seed. Headquartered in Scott, Mississippi, DLP has offices in six states and facilities in several foreign countries. SOURCE Delta and Pine Land Company -0- 08/06/98 /CONTACT: Lori J. Fisher, Monsanto Company, 314-694-8535; email: lori.j.fisher@monsanto.com or W.T. Jagodinski, Delta and Pine Land Company, 601-742-4518/ (DLP MTC) CO: Delta and Pine Land Company; Monsanto Company ST: Mississippi, Missouri