Monterrey, Mexico
April 24,  2001

Savia S.A. de C.V. (BMV: SAVIA, NYSE: VAI) announced today that a temporary liquidity problem has required discussions with lender banks regarding the terms and conditions of the
Company's financial obligations. 

Bernardo Jimenez, Savia's Chief Financial Officer, noted: "Excess investments in Seminis stretched our resources and created this issue. However, Savia's Group companies have sufficient resources. In addition, Savia's affiliate, Empaques Ponderosa, recently sold three of its own subsidiaries. As soon as the proceeds from this sale become available to Savia, they will be applied to debt payment. The important issue now is time, and an extension is being discussed with our banks." 

The current problems affecting Savia were caused primary by excess investments in agro technology. In addition, Seminis' results were impacted by a slower than expected integration process of its acquired businesses, averse climate conditions and foreign exchange losses. 

These circumstances have driven Savia to a temporary liquidity shortfall, which the Company is currently in the process of resolving. 

Savia is a diversified group of companies strategically oriented toward leadership and to the creation of value. Savia participates in industries that offer high growth potential in Mexico and abroad. Among its principal subsidiaries are: Seguros Comercial America, the largest insurance company in Mexico and Seminis, global leader in the production and marketing of fruit and vegetable seeds. 

Company news release
N3478