Seminis Inc., the world's largest developer, producer and marketer of vegetable and fruit seeds, today announced that in accordance with its indenture, under which the Company's 10 1/4 % Senior Subordinated Notes were issued, the Company provided audited financial information for its fiscal year ended September 30, 2003 to its note holders. The financial statements reflected operating income of $6.5 million. When adjusted for $56.5 million of non-recurring expenses primarily related to the Fox Paine merger, exchange and recapitalization transactions, associated non-cash purchase accounting adjustments, gain of sale of assets and prior to $2.5 million in adjustments for the cancellation of certain operating leases, EBITDA was $92.9 million. The $31.7 million net loss for fiscal year 2003 included an adjustment of $1.3 million for the discount on redemption of the Class B Redeemable Preferred Stock, which was previously recorded as other income and has been reclassified to other equity in the balance sheet and, although not affecting operating income, was included in net loss available for common stockholders in the consolidated statement of operations.

Seminis Inc. is the largest developer, producer and marketer of vegetable seeds in the world. The company uses seeds as the delivery vehicle for innovative agricultural technology. Its products are designed to reduce the need for agricultural chemicals, increase crop yield, reduce spoilage, offer longer shelf life, create better tasting foods and foods with better nutritional content. Seminis has established a worldwide presence and global distribution network that spans 150 countries and territories.