Bionova Holding Corporation (Amex: BVA) announced today its third quarter financial results and the status of negotiations with Savia.

For the quarter ended September 30, 2000, Bionova Holding reported a net loss of $9.8 million, or
$0.42 per share, as compared with a loss of $11.2 million, or $0.47 per share in 1999. The smaller loss in the 2000 third quarter as compared with the same quarter a year ago was due to a lower loss at Agrobionova, the Company's farming subsidiary in Mexico. In the 1999 third quarter
Agrobionova recorded large losses due to write offs as it terminated four of its joint ventures in Mexico in which it had lost money during the previous three years.

Revenues declined from $51.8 million in the third quarter of 1999 to $39.8 million in this year's third quarter. The decline was due entirely to the discontinuation of the Company's joint venture
arrangement with Santa Cruz Empacadora, S. de R.L. de C.V., a grower based in Baja California
Sur. The decision to terminate this joint venture was taken in March of this year because of the  very heavy losses of this joint venture in the 1999 growing season. Agrobionova sought to locate
alternative sources of supply for the July through November 2000 growing season during which
Santa Cruz historically has provided a large proportion of Agrobionova's supply. However, due to
previous commitments of growers in this area Agrobionova was not able to replace this production. U.S and Mexican distributors' revenues and profits were unfavorably affected as a consequence of the lower level of supply.

Bionova Holding continued its efforts to reduce costs during the quarter. Selling and administrative
expenses in the third quarter of 2000 were 20% lower than in the third quarter of the prior year due
primarily to staff reductions at Agrobionova and in the corporate office.

In regard to Bionova Holding's previously announced intention to restructure its business, the
Company stated that its Special Committee of Independent Directors had received a proposal from Savia to acquire Bionova's fresh produce business, and in turn, had made a counterproposal to Savia. Negotiations to reach agreement are in process.

Bionova 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, Bionova Holding is known for its premium Master's Touch® and FreshWorld Farms®
brands. Bionova Holding and its subsidiaries have strategic alliances 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. Bionova Holding Corporation is majority owned by Mexico's SAVIA, S.A. de C.V. (NYSE: VAI), whose subsidiaries include the world's biggest vegetable seed company.

Company news release
N3087