DNAP Holding Corporation today announced it had successfully issued $100 million Senior Guaranteed Floating Rate Notes due 2002. Proceeds of the offering will be used to refinance DNAP Holding's $85 million of consolidated short-term debt.

Other key provisions of this new credit arrangement include
(i) payment of the entire principal balance due on March 31, 2002,
(ii) an interest rate of LIBOR plus 7%,
(iii) prepayments at the option of the Company with no penalties, and
(iv) a requirement that the Company must keep one year's worth of interest in an interest bearing reserve.
The contract also provides that the Company is permitted to obtain up to $30 million in new financing for working capital purposes. The credit facility has been fully guaranteed by DNAP Holding's parent company, Savia, S.A. de C.V.

"We are very pleased to have consummated this transaction,'' stated Bernardo Jimenez, Chief
Executive Officer of DNAP Holding. "While the interest costs associated with this long-term facility will be somewhat higher than we have had historically, we felt it was very important to pay down short-term bank debt and relieve the risk associated with the need to continuously refinance large short-term lines of credit.''

DNAP Holding Corporation is a leading biotechnology company focused on using its proprietary
genetic engineering and plant science technologies to develop and improve the quality and agronomic traits of fruits and vegetables. Through its fresh produce growers and distribution companies, DNAP is known for its premium Master's Touch® and FreshWorld Farms® brands. DNAP has strategic joint ventures and licensing agreements with some of the world's leading agricultural companies, with its affiliates, including Seminis Vegetable Seeds, Inc., with value-added producers and marketers, and with biotechnology research groups. DNAP Holding Corporation is majority owned by Mexico's Savia, S.A. de C.V., formerly known as Empresas La Moderna S.A. de C.V. whose subsidiaries include the world's biggest vegetable seed company.

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