• Reports Net Income of $24.0 Million or $0.30 EPS Available to Common Shareholders
• Net Sales Increase 4.4% Year over Year to $159.0 Million
• Operating Income Up by 3.1% or $1.2 Million

Seminis, Inc. (Nasdaq: SMNS; the "Company"), the world's largest developer, producer and marketer of vegetable and fruit seeds, today reported preliminary unaudited results for its quarter ended March 28, 2003. The early announcement precedes filings by its parent company, Savia S.A. de C.V., which is required to release consolidated results, including those of the Company, later today.

NET SALES AND GROSS PROFIT

Net sales for the quarter were $159.0 million compared to $152.3 million for the same period last year. Gross profit increased to $101.0 million or 63.5% of sales compared to $95.9 million or 62.9% for the same period last year.

OPERATING EXPENSES

Operating expenses for the quarter increased by $5.2 million, or 8.9%, to $63.6 million, compared to $58.4 million in the same period last year.

OPERATING INCOME

Operating income in the quarter was $39.0 million compared to $37.8 million for the same period last year. Operating income increased by $1.2 million, or 3.1% compared to the same period last year.

NET INCOME

In the quarter, the Company posted net income of $24.0 million or $0.30 per share available to common shareholders compared to net income of $25.7 million or $0.34 per share available to common shareholders during the same period last year.

BANK DEBT

The total outstanding bank debt as of March 28, 2003 was $283.1 million compared to $318.5 million as of March 29, 2002, a reduction of $35.4 million or 11.1%.

The Company will provide additional information on its quarterly results at a later date.