Monterrey, Mexico
June 28,  2001

Savia S.A. de C.V. (NYSE: VAI, BMV: SAVIA) announced today that it has canceled US$913 million in bank debt, and has renegotiated with its lending banks to pay the remaining US$80 million in October 2002.

Alfonso Romo Garza, president of the Board of Directors of Savia, commented, "After a series of
renegotiations, we have reached a definitive agreement with our lending banks, and now have a healthy balance sheet. The restructuring of Savia and Seminis, along with the recent divestiture of Seguros Comercial America and the Empaques Ponderosa subsidiaries, have enabled us to significantly reduce our bank debt. This allows Savia to strengthen and solidify its financial structure and continue to meet its financial commitments, as it has done up until now."

Savia holds a leading position in the agro-tech industry through its subsidiaries, Seminis (Nasdaq: SMNS), a global leader in fruit and vegetable seeds; and Bionova, which develops and distributes seeds in North America.

Company news release
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