Savia S.A. de C.V. , one of Mexico's largest diversified business groups, formerly known as
Empresas La Moderna, announced today results for the first half ended June 30, 1999. The results  include four months of financial results of Seguros Comercial Amrica, Savia's subsidiary as of March  1999.

Savia reported consolidated Net sales of Ps. 12,003 million (US$1,271 million), an increase of
149% compared to the first half of 1998. The breakdown of sales is non-banking financial services
55%, agrotechnology 37% and packaging 8%.

Sales in dollars accounted for US$675 million, or 53% of total sales.

Operating income increased 119% to Ps. 805 million (US$85 million). EBITDA increased 92%
from Ps. 556 million (US$58 million) to Ps. 1,070 million (US$114 million). Consolidated net
income reached Ps. 209 million (US$22 million), compared with a loss of Ps. 71 million (US$7
million) during the same period in 1998.

Mr. Alfonso Romo, President of the Board and Chief Executive Officer of Savia, said: "The results
for the first half of the year reaffirm the strength and leadership of Savia's subsidiaries, and will allow us to continue creating and capturing value in line with our vision of growth and profitability.''

Agrotechnology

Sales of Seminis, the world's largest developer, producer and marketer of vegetable seeds
increased 42% in the first half of 1999 to Ps. 3,059 million (US$324 million), compared to the same period in 1998. The increase in sales reflects additional sales from companies acquired during the second half of 1998 and volume growth in North America and Europe. Operating income for the period increased to Ps. 640 million (US$68 million), 57% higher than the first half of 1998.

Sales of Bionova, a leader in improving the quality and traits of fruits and vegetables, were Ps.
1,201 million (US$127 million), 15% lower than sales reported during the same period last year.
Operating loss was Ps. 70 million (US$7 million) compared to a loss of Ps. 15 million (US$2
million) during the first half of 1998. The results were primarily due to adverse climatic conditions in the first quarter of this year.

Non-banking financial services

Sales and Operating income for Seguros Comercial Amrica from March to June 1999, the period
included in Savia's accumulated results were Ps. 6,565 million (US$695 million) and Ps. 315 million (US$33 million), respectively.

For the first half of 1999, Seguros Comercial Amrica reported written premiums of Ps. 8,270
million (US$876 million), 3% higher than the same period last year. The increase in written
premiums is due primarily to an increase in life and health premiums, which have higher margins than other insurance lines. Operating income for the first half of 1999 increased 8% to Ps. 510 million (US$54 million). Net income increased 46% to Ps. 340 million (US$36 million).

Packaging

Production volume of folding boxboard increased 17.8% during the first half of 1999. In addition,
sales volume for conversion increased 25.3% compared to the first half of 1998. Total sales for
Empaques Ponderosa reached Ps. 918 million (US$97 million), a 3% increase compared to the
same period of last year. Operating income for the first half of 1999 was Ps. 216 million (US$23
million), a 4% increase compared to 1998. Profitability for the company continues to show strength, reaching 24% of total sales during the first six months of 1999.

Recent Developments:

On June 30, Seminis listed 13.75 million shares or 23% of total shares on NASDAQ, trading under the symbol ``SMNS''. Shares were sold at US$15 per share, resulting in proceeds of US$206 million, allowing the company to reduce debt in order to capitalize on growth opportunities and value creation. Savia currently owns 67.9% of Seminis.

Savia is a diversified business group strategically oriented towards leadership and the creation of
value. It seeks to participate in industries that offer a high potential for growth both on a domestic
and global level. Savia leads the way in agrotechnology applied to fruits and vegetables through
BIONOVA, focused on using its proprietary technology and plant science capabilities to develop
and improve the quality and agronomic traits of fruits and vegetables, and SEMINIS, a
technology-intensive company and worldwide leader in the production and commercialization of fruit and vegetable seeds. SAVIA leads the Mexican insurance sector through its subsidiary SEGUROS COMERCIAL AMRICA, and through its affiliates, is one of the leading non banking financial services provider. Through EMPAQUES PONDEROSA, SAVIA is the domestic leader in folding boxboard from recycled fibers, and one of the fastest growing flexible packaging producers for consumer goods companies.

Company news release
N2015