SEMINIS, INC.
 Consolidated Balance Sheets
 (In thousands)
 
 As of As of
  June 27, September 30,
 2003 2002
 
 ASSETS:
 Current assets
 Cash and cash equivalents $28,130 $36,805
 Accounts receivable, net 175,269 140,315
 Inventories 266,150 272,527
 Prepaid expenses and other current assets 4,329 2,427
 
 Total current assets 473,878 452,074
 
 Property, plant and equipment, net 163,564 168,729
 Goodwill, net 102,706 98,931
 Intangible assets, net  54,514 61,872
 Other assets 20,035 18,391
 
 $814,697 $799,997
 
 
 LIABILITIES, MANDATORILY REDEEMABLE STOCK AND STOCKHOLDERS' EQUITY:
 Current liabilities
 Short-term borrowings $39,774 $28,532
 Current maturities of long-term debt 219,454 21,709
 Accounts payable 22,784 38,179
 Accrued liabilities 97,218 98,624
 
 Total current liabilities 379,230 187,044
 
 Long-term debt 14,965 228,293
 Deferred income taxes 18,740 15,753
 Minority interest in subsidiaries 1,677 1,902
 
 Total liabilities 414,612 432,992
 
 Commitments and contingencies
 
 
 Total mandatorily redeemable stock 31,000 29,500
 
 
 Total stockholders' equity 369,085 337,505
 
 $814,697 $799,997
 
 
  SEMINIS, INC.
 Consolidated Statements of Operations
 (In thousands, except per share data)
 
 For the three For the nine
  months ended months ended
 June 27, June 28, June 27, June 28,
 2003 2002 2003 2002
 (Unaudited)(Unaudited)(Unaudited)(Unaudited)
 
 Net sales $113,088 $106,564 $352,705 $338,952
 Cost of goods sold 42,113 41,581 130,354 128,325
 
 Gross profit 70,975 64,983 222,351 210,627
 
 Research and development expenses 12,564 10,973 34,942 32,483
 Selling, general and
 administrative expenses 46,685 43,973 138,022 132,501
 Amortization of intangible assets 4,014 4,235 11,907 12,537
 
 Total operating expenses 63,263 59,181 184,871 177,521
 
 Gain on sale of assets 366 447 1,457 5,723
 
 Income from operations 8,078 6,249 38,937 38,829
 
 Other expense
  Interest expense, net (8,800) (7,082) (23,735) (21,184)
 Other, net (779) 3,559 (303) (1,094)
 
 Total non-operating expense (9,579) (3,523) (24,038) (22,278)
 
 Income (loss) before income taxes (1,501) 2,726 14,899 16,551
 
 Income tax benefit (expense) (1,843) 1,538 (5,983) (5,944)
 
 
 Net income (loss) (3,344) 4,264 8,916 10,607
 
 Preferred stock dividends (4,660) (3,496) (13,844) (10,423)
 Additional capital contribution
 dividends -- (1,164) -- (3,467)
 
 Net loss available for common
 stockholders $(8,004) $(396) $(4,928) $(3,283)
 
 Net loss available for common
 stockholders per common share:
 Basic/diluted $(0.12) $(0.01) $(0.08) $(0.05)
 
 
 Seminis Inc.
 Net Seed Sales
  Currency stated at Actual Exchange rates
 (In US Million $)
 
 Third Quarter Ended Nine Months Ended
 
 FY 2003 FY 2002 %Change FY 2003 FY 2002 %Change
 North America $34.2 $36.3 -5.7% $119.1 $122.0 -2.3%
 Europe & Middle East 53.5 45.0 18.7% 160.0 135.2 18.4%
 Far East 13.8 11.7 18.1% 40.6 43.2 -6.1%
 South America 8.3 9.2 -9.8% 20.9 23.7 -12.1%
 
 Total Seed Sales $109.8 $102.2 7.4% $340.6 $324.1 5.1%