Amended Tender Offer

RNS Number:2985T
Cydsa S.A.
20 March 2002



        Cydsa, S.A, de C.V. Schedules Adjourned Meeting of Noteholders 
                       and Amends its Note Tender Offer

Garza Garcia, MEXICO (March 18, 2002). -- Cydsa, S.A. de C.V. announced that it 
has amended its tender offer for its 9.375% Notes due 2002. Pursuant to the 
amended tender offer, Cydsa is now offering to purchase for cash from eligible 
holders of its notes up to U.S.$40,000,000 in aggregate principal amount of its 
notes for a cash purchase price of U.S.$520 per U.S.$1,000 amount of notes, plus 
accrued and unpaid interest thereon up to, but not including, the date of 
purchase.

Cydsa has extended the "Offer Expiration Date" to 12:00 Midnight, New York City 
time, on Friday, March 29, 2002, unless further extended. The Offer Expiration 
Date is the time by which eligible holders of record must deliver, and the 
depositary must receive, tenders of notes in order to be eligible to participate 
in the tender offer. Unless withdrawn, notes validly tendered prior to the date 
hereof in accordance with the terms of the tender offer will remain subject to 
the tender offer. Noteholders who already have tendered, and not withdrawn, 
notes do not need to take any further action to participate in the tender offer. 
Prior to the date hereof, approximately U.S.$12,158,000 in aggregate principal 
amount of notes were tendered to the depositary.

The tender offer is conditioned upon, among other things, (1) the passing of the 
extraordinary resolution by at least 75% in aggregate principal amount of the 
notes voted at an adjourned meeting at which a quorum of eligible holders of 
record holding more than 50% in aggregate principal amount of the outstanding 
notes, other than notes held by Cydsa or Cydsa's nominees, is represented in 
person or by proxy; and (2) notes representing at least U.S.$40,000,000 in 
aggregate principal amount being validly tendered, and not withdrawn, pursuant 
to the tender offer, or otherwise purchased by Cydsa, on or prior to the Offer 
Expiration Date. Cydsa may in its discretion waive any or all of such 
conditions.

In connection with the proxy solicitation, the adjourned meeting of noteholders 
for the purpose of considering an extraordinary resolution which would extend 
the maturity of the notes and amend certain covenants in the trust deed relating 
to the notes will be held on Friday, April 5, 2002, at 3:00 p.m., London time, 
at the offices of Linklaters, located at One Silk Street, London, United Kingdom 
EC2Y 8HQ. Cydsa has extended to 10:00 a.m., New York City time, on Tuesday, 
April 2, 2002, the "Proxy Submission Deadline," the time and date by which 
holders of record must deliver duly executed proxies in order to vote by proxy 
at the adjourned meeting of noteholders.

Cydsa has also extended to 10:00 a.m., New York City time, on Tuesday, April 2, 
2002, the "Proxy Payment Deadline," the time and date by which eligible holders 
of record must deliver to the proxy and information agent duly executed, 
unrevoked proxies in favor of the extraordinary resolution in order to be 
eligible to receive the proxy fee.

Unless revoked, duly executed proxies delivered to the proxy and information 
agent prior to the date hereof in accordance with the terms of the proxy 
solicitation will remain in effect for the adjourned meeting.

Cydsa's proxy solicitation and offer to purchase for cash is made upon the terms 
and conditions set forth in the Proxy Solicitation Statement and Offer to 
Purchase, dated January 25, 2002 (the "Statement"). Prior to the date hereof, 
Cydsa distributed to all holders of the notes a letter of eligibility requesting 
the holder to return a certification as to whether it is (1) a Qualified 
Institutional Buyer (as defined in Rule 144A under the United States Securities 
Act of 1933, as amended (the "Securities Act")), (2) not in the United States 
(as contemplated in Rule 903(a)(1) of Regulation S under the Securities Act) or 
(3) a dealer or other professional fiduciary organized, incorporated, or (if an 
individual) resident in the United States holding a discretionary account or 
similar account (other than an estate or trust) for the benefit or account of a 
non-U.S. person (as contemplated by Rule 903(a)(1) of Regulation S under the 
Securities Act). Only holders who have completed and returned the certification 
of eligibility ("eligible holders") are authorized to receive or review the 
Statement or to participate in the proxy solicitation and the tender offer made 
thereby.

This news release is not an offer to purchase, nor a solicitation of an offer to 
purchase or a solicitation of proxies, with respect to the securities. The notes 
have not been and will not be registered under the Securities Act and may not be 
offered or sold in the United States absent registration or an applicable 
exemption from registration requirements.

Cydsa is a corporation based in Monterrey, Mexico with a presence in various 
industrial sectors, such as Chemicals and Plastics, Fibers and Textile Products 
and Flexible Packaging.

Cydsa Web Site: http://www.cydsa.com



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