MONSANTO AND PHARMACIA & UPJOHN SHAREHOLDERS
VOTE TO APPROVE COMPANIES' MERGER

ST. LOUIS and PEAPACK, N.J. (March 23, 2000) - Monsanto Company (NYSE:
MTC) and Pharmacia & Upjohn (NYSE: PNU) today announced that shareholders
of both companies voted to approve their proposed merger at special
shareholder meetings held by each of the companies.

In connection with the merger, Monsanto shareholders approved the issuance
of shares of common and preferred stock as well as amendments to the
company's charter. More than 75 percent of the outstanding shares, and 94
percent of the total votes cast, were cast in favor of these resolutions
at a meeting held at the North Shore Center for the Performing Arts in
Skokie, Illinois.

Earlier in the day, Pharmacia & Upjohn shareholders voted to adopt the
merger agreement at a meeting held in Wilmington, Delaware. More than 72
percent of outstanding shares, and 96...