Bionova to Appeal Amex Notification.

Business Editors

SAN DIEGO--(BUSINESS WIRE)--Sept. 18, 2002

Bionova Holding Corporation (AMEX:BVA) announced today that it received notice from the American Stock Exchange that the Exchange had determined the Company no longer meets the Exchange's requirements for continued listing of the Company's securities and therefore the Company's common stock is subject to being delisted by the Exchange.

The Exchange based its determination on the Company's history of losses and other factors which, in the opinion of the Exchange, indicate substantial doubt about the Company's ability to continue as a going concern. The Company has appealed this determination and requested a hearing before a committee of the Exchange. There can be no assurance that the Company's request for continued listing will be granted.

Bionova Produce Inc., a subsidiary of the Company, has come into compliance with all of the covenants under its bank debt. As previously reported, as of July 31, Bionova Produce was out of compliance because its borrowings had exceeded its borrowing base. Bionova Produce is now negotiating with the bank to renew its line of credit and to obtain a new term loan to help finance the next growing season.

Also, the Company's technology subsidiary, DNA Plant Technology Corporation, licensed to Seminis Vegetable Seeds Inc., an affiliate of the Company, certain rights to produce and to distribute in Europe and Asia vine sweet mini-peppers and certain other peppers under patents owned by DNAP. DNAP is continuing its efforts to sell or license its intellectual property assets.

The Company's Annual Meeting of Stockholders was held on Aug. 27, 2002. Bernardo Jimenez and Eli Shlifer were re-elected to the Board, to be joined by new directors Alejandro Sanchez, Alejandro Perez and Adrian Rodriguez. Also, Gabriel Montemayor, the Company's Chief Financial Officer, has resigned from the Company. The Company expects to announce its new Chief Financial Officer in the near future.

Bionova Holding Corporation is a leading fresh produce grower and distributor. Its premium Master's Touch(R) and FreshWorld Farms(R) brands are widely distributed in the NAFTA market. Bionova Holding Corporation is majority owned by Mexico's Savia, S.A. de C.V. (NYSE:VAI).

All statements in this press release other than statements of historical facts are "forward-looking" statements, including without limitation statements regarding Bionova Holding's financial position, business strategy, plans and objectives of management, and industry conditions. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. The following factors, among others, may affect the Company's actual results and could cause such results to differ materially from those expressed in any forward-looking statements made by or on behalf of the Company: liability resulting from shareholder lawsuits, inability to obtain additional financing, competitive factors, agribusiness risks, governmental and economic risks associated with foreign operations, commercial success of new products, proprietary protection of and advances in technology, as well as the ability of the Company to successfully integrate recent acquisitions and its management information systems and controls. Further information on the factors that could affect the Company's financial results is contained in the Company's Form 10-Q for the quarter ended June 30, 2002, and Form 10-K for the year ended Dec. 31, 2001, which have been filed with the Securities and Exchange Commission.