SmartStax Corn Receives Import Approvals for Korea, Taiwan

More Key Import Approvals Support 2010 Launch

INDIANAPOLIS and ST. LOUIS - Two more key regulatory milestones have been reached for the 2010 commercial launch of SmartStax™, the corn industry’s eagerly anticipated seed trait combination. U.S. and Canadian corn farmers are now two steps closer to being able to plant the most comprehensive insect and weed control product in the industry, allowing them to significantly reduce their refuge acres. Monsanto Company (NYSE: MON) and Dow AgroSciences LLC (NYSE: DOW), a wholly owned subsidiary of The Dow Chemical Company, announced today that they have received import regulatory approvals from Korea and Taiwan for corn grain produced from SmartStax™.

The food and feed safety of SmartStax corn was reviewed and approved by the Korean and Taiwan agencies charged with regulating biotech traits. These two additional approvals follow U.S., Canadian, and Japanese regulatory approvals announced by the companies in July 2009. With these approvals, SmartStax cultivation in the United States and Canada has taken a major step forward. Grain produced from SmartStax corn can now be imported to Japan, Taiwan, Korea, Australia, and New Zealand among other countries.

“These are significant milestones as we ramp up for 2010 launch of SmartStax,” said Brad Shurdut, Global Biotech Regulatory and Government Affairs Leader for Dow AgroSciences. “Korea and Taiwan are significant importers of U.S. corn and these approvals pave the way for U.S. and Canadian growers to benefit from the most advanced, all in one corn trait platform.”

“SmartStax is a valuable tool in a farmer’s risk management strategy,” said Jerry Hjelle, Monsanto Vice President of Regulatory Affairs. “Its multiple modes of action against insect pressure means farmers can significantly lower their pesticide usage, and the reduced refuge for above and below-ground pests for SmartStax increases whole farm yield potential.”

SmartStax is the result of best-in-class trait integration that combines each company’s industry-leading corn traits to provide growers the broadest spectrum of above- and below-ground protection against pests and weeds versus any competitor in the market today. The multiple modes of action in SmartStax are the only proven means to reduce structured refuge and maintain long-term durability of corn trait technologies. U.S. and Canadian corn farmers who plant SmartStax will be able to substantially reduce the structured refuge from the typical 20 percent to 5 percent in Canada and the U.S. Corn Belt and from 50 percent to 20 percent in U.S. cotton growing areas.

By combining a comprehensive approach for insect and weed control with reduced above- and below-ground structured refuge, farmers who adopt SmartStax will have the opportunity to increase whole-farm corn yields.

SmartStax is the outcome of a cross-licensing agreement and research and development collaboration signed in 2007 between Monsanto and Dow AgroSciences. Monsanto and Dow AgroSciences plan to launch SmartStax on 4-plus million acres in 2010. Monsanto will bring the corn product to market as Genuity™ SmartStax™. Dow AgroSciences plans to offer SmartStax through its seed brands which include Mycogen®, Dairyland™, Renze™, Brodbeck™, Triumph™ and Pfister™.

About Monsanto Company
Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. Monsanto remains focused on enabling both small-holder and large-scale farmers to produce more from their land while conserving more of our world’s natural resources such as water and energy. To learn more about our business and our commitments, please visit: www.monsanto.com. Follow our business on Twitter at www.twitter.com/MonsantoCo on Facebook at www.facebook.com/MonsantoCo, or subscribe to our News Release RSS Feed.

About Dow AgroSciences
Dow AgroSciences LLC, based in Indianapolis, Indiana, USA, is a top-tier agricultural company that combines the power of science and technology with the "Human Element” to constantly improve what is essential to human progress. Dow AgroSciences provides innovative technologies for crop protection, pest and vegetation management, seeds, traits, and agricultural biotechnology to serve the world’s growing population. Global sales for Dow AgroSciences, a wholly owned subsidiary of The Dow Chemical Company, are $4.5 billion. Learn more at www.dowagro.com.

Forward-Looking Statements:
Certain statements contained in this press release are forward-looking statements, such as statements concerning the companies’ future product performance, regulatory approvals, business and financial plans and other non-historical facts. These statements are based on current expectations and currently available information. However, since these statements are based on factors that involve risks and uncertainties, the companies’ actual performance and results may differ materially from those described or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, among others: the success of the companies’ research and development activities; the costs of and the companies’ abilities to access and enforce intellectual property needed for the collaboration; the costs and requirements of regulatory compliance and the speed with which approvals are received; public acceptance of biotechnology products; and other risks and factors detailed in the companies’ most recent periodic report to the SEC. Undue reliance should not be placed on these forward-looking statements, which are current only as of the date of this presentation. The companies disclaim any current intention or obligation to update any forward-looking statements or any of the factors that may affect actual results.

Editor’s Note: SmartStax ™ multi-event technology developed by Dow AgroSciences and Monsanto.

SmartStax, the SmartStax Logo, YieldGard and Roundup Ready are trademarks of Monsanto Technology LLC.

HERCULEX® Insect Protection technology by Dow AgroSciences and Pioneer Hi-Bred.
HERCULEX® is a registered trademark of Dow AgroSciences LLC.

LibertyLink® is a registered trademark of Bayer CropScience AG.