                                                                       Exhibit 1


      DUPONT AND BUNGE ANNOUNCE GLOBAL ALLIANCE, INCLUDING JOINT VENTURE TO

                  PRODUCE AND MARKET SPECIALTY FOOD INGREDIENTS


         WILMINGTON, Del. and WHITE PLAINS, N.Y., Jan. 6, 2003 DuPont and Bunge
Limited today announced that they intend to form an alliance to significantly
grow their agriculture and nutrition businesses. The alliance will include:

     -- a joint venture for the global production and distribution of specialty
        food ingredients, beginning with soy proteins and lecithins;

     -- a biotechnology agreement to jointly develop and commercialize soybeans
        with improved quality traits;

     -- an alliance to develop a broader offering of services and products to
        farmers.

     The joint venture, Solae L.L.C., will participate in the rapidly growing
market for healthy and great tasting food proteins. It will provide a broad
offering of soy ingredient products to better fit customer needs, including
textured vegetable proteins, soy concentrates and isolates and specialty
lecithins. DuPont will contribute its Protein Technologies food ingredients
business for a majority interest in the joint venture. In exchange for its
specialty food ingredients businesses, Bunge will receive a 28 percent interest
in the joint venture plus an estimated $260 million in cash, to be funded by
joint venture debt, and will have the right to increase its ownership to 40
percent based upon a pre-agreed formula. The joint venture's board will be made
up of four members, two each from DuPont and Bunge.

     Initially, global revenues of Solae L.L.C. are expected to exceed $800
million annually. The joint venture, which will be based in St. Louis, Mo., is
scheduled to start up later this year, subject to negotiation of definitive
agreements, which will contain customary closing conditions including regulatory
approvals.

     "DuPont is pleased to form this alliance with Bunge," said Charles O.
Holliday, Jr., DuPont chairman and chief executive officer. "It is an important
step in meeting our goals to grow our company in key markets and expand our food
and nutrition offerings to better meet customer needs."

     "This alliance brings DuPont's strength in science and new product
development together with Bunge's strength in the farm-to-consumer food chain,"
said Alberto Weisser, chairman and CEO of Bunge. "Together, our two companies
will be better able to deliver value by linking farmers and consumers worldwide
to provide high-quality, nutritious alternatives in the fast growing,
value-added foods market."

     Solae L.L.C. will combine complementary capabilities and assets along the
value chain in production, sourcing, marketing and distribution on four
continents, and its broader product lines will enable the joint venture to
provide better solutions to customers. The joint venture also is expected to
increase the efficiency of the partners' facilities by providing better
opportunities to expand capacity and production.

     "This joint venture will provide tremendous growth opportunities by
enabling us to compete more broadly in the large protein and functional
ingredients markets globally," said J. Erik Fyrwald, vice president and general
manager DuPont Nutrition & Health. "In addition, the complementary strengths of
our two companies will allow us to use advanced breeding, production and
processing technologies to develop new and improved food ingredients, providing
consumers with healthier and great tasting proteins to meet their growing needs
worldwide."

     "This joint venture creates a premier global ingredients company, with a
very competitive product portfolio and manufacturing expertise. Its growth will
be driven by the replacement of meat and dairy proteins in a wide range of food
applications," said Drew Burke, managing director Bunge Ingredients and New
Business Development.

     Fyrwald will be chairman of the joint venture and Burke will be vice
chairman. Stephan B. Tanda, currently president of DuPont Protein Technologies,
will be chief executive officer of Solae L.L.C. Theodore P. Fox III, currently
controller of Bunge, will be chief financial officer.



<PAGE>


     The biotechnology agreement will combine DuPont's broad strengths in
science, including leading positions in plant science and modern biology, with
Bunge's proven capability to transform oilseeds and grains into value-added
products for its global customer base in the food and animal feed sectors.
Initial focus of the agreement will be on soybeans.

     The alliance on production agriculture will bring together two of the most
trusted names in agribusiness that individually have outstanding relationships
and provide significant value to farmers worldwide. By working together, DuPont
and Bunge will offer a broad range of products and services to meet customers'
needs with efforts initially focused on South America and Asia.

     Bunge Limited (www.bunge.com) is an integrated, international agribusiness
and food company operating in the farm-to-consumer food chain with worldwide
distribution capabilities and primary operations in North America, South America
and Europe. Headquartered in White Plains, N.Y., Bunge has over 24,000 employees
and locations in 28 countries. Bunge is the largest processor of soybeans in the
Americas, the world's leading oilseed processing company, the largest producer
and supplier of fertilizers to farmers in South America and the world's leading
seller of bottled vegetable oils to consumers.

     DuPont Agriculture & Nutrition is comprised of DuPont Crop Protection,
Pioneer Hi-Bred International, Inc., DuPont Protein Technologies and DuPont
Qualicon. Annual sales in 2001 exceeded $4.3 billion.

     DuPont is a 200-year-old science company offering innovative products,
technologies and services that improve the lives of people everywhere.
Headquartered in Wilmington, Del., DuPont delivers science-based solutions to
markets including agriculture, nutrition, electronics, communications, safety
and protection, home and construction, transportation, apparel, home and
textiles.

Notice to Analysts and Media:

DuPont and Bunge will host an investor briefing on this allicance today, Monday,
Jan. 6 at 10:00 a.m. EST via teleconference.  Please call 973-633-1010 at
least 10 minutes prior to the call and ask for reservation number 12439.
Media may participate in a listen only mode.

For those unable to participate in the acquisition briefing, a replay will be
available by calling 973-341-3080, PIN 3677693.

A separate media conference will be held at 10:45 a.m. EST by calling
973-633-1010 and ask for reservation number 12440.  The replay number for the
media call is 973-341-3080, PIN 3677713.

Forward-Looking Statements:

This news release contains forward-looking statements based on management's
current expectations, estimates and projections. All statements that address
expectations or projections about the future, including statements about
strategy for growth, product development, market position, expected expenditures
and financial results are forward-looking statements. Some of the
forward-looking statements may be identified by words like "may," "will,"
"expects," "anticipates," "plans," "intends," "projects," "indicates," and
similar expressions. These statements are not guarantees of future performance
and involve a number of risks, uncertainties and assumptions. Many factors,
including those discussed more fully in this release and in documents filed with
the Securities and Exchange Commission by DuPont and Bunge could cause results
to differ materially from those stated. These factors include, but are not
limited to changes in the laws, regulations, policies, economic and political
conditions, including inflation, interest and foreign currency exchange rates,
of countries in which the companies do business; competitive pressures; ability
to complete, integrate and benefit from acquisitions, divestitures, joint
ventures and alliances; cost of raw materials, research and development of new
products, including regulatory approval and market acceptance; and industry
conditions, including the seasonality and cyclicality of agricultural products.




