Oxnard, California
October 25,  2001

- Operating expenses decrease 22%
- EBITDA before non-recurring charges for the quarter was $16.6 million
- Bank debt reduced by $33.2 million in 2001

Seminis, Inc. (Nasdaq: SMNS), the world's leading developer, producer and marketer of vegetable and fruit seeds, today announced preliminary results for the three-month period ended September 30, 2001.

NET SALES

Net sales for the fourth quarter were $110.7 million compared to $92.3 million during the same period last year. Excluding divested non-core business sales of $1.9 million and $1.1 million in the fourth quarter of fiscal year 2000 and 2001, respectively, and a $4.1 million negative currency impact against the U.S. dollar, sales for the fourth quarter increased 26 percent, from $90.4 million to $113.7 million.

GROSS MARGINS

Gross profit was $67.2 million and $20.4 million for the fourth quarter of fiscal year 2001 and 2000, respectively. Excluding non-recurring charges for the fourth quarter of fiscal year 2000, gross profit increased by 29 percent from $52.0 million last year to $67.2 million in 2001. The gross margin improved to 61 percent from 56 percent, on an adjusted basis.

OPERATING EXPENSES

Operating expenses reflected a 22% improvement when compared to last year. Operating expenses decreased $18.1 million in the fourth quarter from $82.2 million in 2000 to $64.1 million this year. The controls and actions implemented during the year have positively impacted the quarterly results.

OPERATING INCOME

Seminis had operating income of $3.1 million for the quarter, compared with a loss of $61.8 million for the same period last year. For the first time this year, the Company is reflecting a normal level of operating results that are not affected by non-recurring charges.

Earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter, excluding restructuring and non-recurring charges, were $16.6 million, compared to a loss of $6.7 million for the same quarter last year.

NET INCOME

During the fourth quarter, the Company posted a net loss of $6.6 million, positively compared with a loss of $61.9 million for the same period last year.

BANK DEBT

The Company continues to comply with 80.2 million in 2001, reflecting a 16 percent decrease. Accounts receivable were $144.5 million at the end of September 2001, which was an 11 percent decrease compared to $162.9 million in the prior year. In October 2001 the Company completed the sale of its non-strategic asset in Korea and collected the $20.6 million other receivable outstanding at September 30, 2001. The management initiatives put in place during this year have
positively impacted the year-end results.

The Company will provide expanded comments on its annual results at a later date.

ORGANIZATIONAL CHANGES

During the quarter, some organizational changes were made. Mr. Oscar Velasco, was appointed as President of the Asian region and Mr. Salvador Alanis was named as Strategic Support Vice President, responsible for quality assurance, market engineering, customer service and value capture activities.

About Seminis

Seminis (Nasdaq: SMNS) 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, and create better tasting foods and foods with better nutritional content. Seminis has established a worldwide presence and global distribution network that spans 120 countries. Seminis is a majority owned subsidiary of Savia (NYSE: VAI), a Mexico-based leading conglomerate.

Company news release
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