In a press release issued on December 27, 1999, Grupo Bimbo announced the sale of six wheat mills and two fresh and processed fruit and vegetable operations to a group of investors represented by Mr. Roberto Servitje Achútegui.

This transaction was still subject to the approval of local regulating agencies and certain buyer obligations.

Today, upon the completion of the previously mentioned requirements, the Company confirms the closing of this transaction for a total amount of US$140.6 million of which US$103.5 million correspond to the sale price of the assets and the remaining correspond to the payment of liabilities held by the acquired companies.

In addition, as part of the total payment, Grupo Bimbo will obtain convertible subordinate obligations of shares of the acquiring company, for a peso equivalent of US$9.1 million.

"Today we form a new industrial group with big plans and long-term vision, according to the principles and values inherited by Grupo Bimbo, where all of the members that form this new group began", stated Mr. Roberto Servitje Achútegui.

As was announced, this agreement resulted from a dual purpose: Grupo Bimbo's strategic desire to focus on consumer-oriented businesses, and granting autonomy to the agro-industrial businesses. Finally, this transaction maintains a provision of an agreement which states that the businesses sold by Grupo Bimbo will continue to supply wheat and sauces used for the production of Grupo Bimbo's products.