Oxnard, California
October 28, 2002

- EBITDA for the quarter increases 37.4%
- Operating income up by 267.6% or $8.3 million
- Bank debt reduced by $19.2 million

Seminis Inc. (Nasdaq: SMNS), the world's largest developer, producer and marketer of vegetable and fruit seeds, today reported preliminary unaudited results for the fourth quarter of fiscal year ended September 30, 2002. The early announcement precedes filings by its parent company Savia, which
is required to release consolidated results, including those of Seminis, later today.

NET SALES AND GROSS MARGIN

Net sales for the fourth quarter were $113.7 million compared to $110.7 million for the same quarter last year. Gross profit increased to $70.1 million or 61.7% of sales compared to $67.2 million or 60.7% for the same quarter last year.

OPERATING EXPENSES

Operating expenses for the fourth quarter of fiscal 2002 were reduced by $5.4 million, or 8.4%, to $58.7 million, from $64.1 million in the same period last year.

OPERATING INCOME

Operating income in the fourth quarter was $11.4 million compared to $3.1 million for the same quarter last year. Operating income in the reported quarter increased by $8.3 million, or 267.6%.

EBITDA

EBITDA (Operating income/loss with depreciation and amortization added back) for the quarter was $19.9 million compared to $14.5 million for the same quarter last year, an improvement of 37.4%.

NET INCOME

In the fourth quarter 2002, the company posted net income of $5.5 million compared to a net loss of $15.4 million during the same quarter last year. On an annual basis, the company recorded net income of $16.1 million for fiscal year 2002 compared to a net loss of $134.5 million for fiscal year 2001.

BANK DEBT

The total outstanding debt as of September 30, 2002 was $278.5 million versus $336.1 million on September 30, 2001. This represents a reduction of $57.6 million or 17.1% of debt outstanding. During the fourth quarter, the company reduced its debt by $19.2 million, which included a $9.0 million scheduled principal payment in accordance with its syndicated agreement.

The company will provide expanded comments on its quarterly and audited year-end performance at a later date.

Seminis Inc. 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, create better tasting foods and foods with better nutritional content. Seminis has established a worldwide presence and global distribution network that spans 150 countries and territories.