Cydsa Adjourns Noteholders Meeting and Extends Deadline for Submitting Proxies MONTERREY, Mexico, Dec. 15 /PRNewswire-FirstCall/ -- Cydsa, S.A. de C.V. ("Cydsa") announced today that it has adjourned the meeting of holders of its U.S.$158,997,000 9.375% Notes due 2009 (the "Existing Notes"), for want of a quorum, to Wednesday, January 19, 2005 at 9 a.m., New York City time (2:00 p.m., London time), and it has extended the deadline for submitting proxies to Friday, January 14, 2005 at 12:00 noon, New York City time (5:00 p.m., London time). On November 16, 2004, Cydsa launched a proxy solicitation in favor of an extraordinary resolution (the "Extraordinary Resolution") to exchange (the "Exchange") each U.S.$1,000 principal amount outstanding of its Existing Notes plus accrued and unpaid interest for 172.12117 shares of its Series A Common Stock, 860.60585 shares of its Series C Stock and U.S.$160.38038 principal amount of its newly issued Convertible Debentures. The Exchange will be effected on the terms and the conditions set forth in Cydsa's Proxy Solicitation Statement and Offering Circular, dated November 16, 2004, as Supplemented on December 15, 2004 (the "Statement"), and related offering documents. To more fully understand the terms of the proxy solicitation, holders of the Existing Notes should carefully read the entire Statement and the other documents to which it refers, including the proxy. Holders who held Existing Notes as of the close of business, New York City time, on Monday, November 29, 2004 are entitled to vote on the Extraordinary Resolution. Cydsa urges all holders of its Existing Notes to deliver their originally executed proxies in respect of the Extraordinary Resolution to the proxy and exchange agent as soon as possible. Proxies submitted by holders of record before the original proxy submission deadline, in anticipation of the originally scheduled meeting on December 15, 2004, remain valid, if given by holders of Existing Notes who were holders of record on November 29, 2004, unless revoked. Cydsa will distribute revised proxies and other materials reflecting the new meeting and proxy submission dates; however, holders may also use the forms previously distributed. Cydsa also urges holders, including those who already have submitted proxies, to ensure that their proxy forms contain their requested account information at Euroclear and Clearstream, to facilitate the proper crediting of the New Securities issued in the Exchange. Holders should contact the information agent, at the number listed below, with any questions. The passing of the Extraordinary Resolution at the adjourned meeting requires votes cast, in person or by proxy, in favor of the Extraordinary Resolution amounting to at least 75% of the votes cast at a meeting at which a quorum of more than 50% in aggregate principal amount of the outstanding Existing Notes, other than Existing Notes held by Cydsa, its subsidiaries or its nominees, is represented in person or by proxy. As of the original proxy submission deadline, which was Monday, December 13, 2004 at 10:00 a.m. New York City time (3:00 p.m. London time), votes representing U.S.$43,360,000 principal amount (or 27.3% of the principal amount outstanding) were cast. Votes representing U.S.$43,000,000 principal amount were in favor of the Extraordinary Resolution, U.S.$110,000 principal amount were against and U.S.$250,000 principal amount abstained. As of Tuesday, December 14, 2004 at 10:00 a.m. New York City time (3:00 p.m. London time), votes representing U.S.$94,927,000 principal amount (or 59.7% of the principal amount outstanding) were cast. Votes representing U.S.$94,377,000 principal amount were in favor of the Extraordinary Resolution, U.S.$300,000 principal amount were against and U.S.$250,000 principal amount abstained. Global Bondholder Services Corporation has been selected as information agent. Requests for assistance or documents should be directed to Harvey Eng of Global Bondholder Services Corporation, in New York, at (212) 430-3774. The proxy and exchange agent is Citibank, N.A., in London (attention: Stuart N. Hoare at +44.207.500.5309) and New York (attention: Sebastian Andrieszyn at 212.657.9055). This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Cydsa is a major Mexican industrial company with leading market share in some of its lines of business and with long-standing relationships with major Mexican and international companies. Cydsa is engaged in manufacturing and marketing products and services in the following industries: petrochemicals and specialty chemicals; synthetic fibers and yarns; packaging film and folding carton. Cydsa's operations are organized and managed through the following business segments: Chemicals and Plastics; Fibers and Yarns and Packaging Film and Folding Carton. This material includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The opinions, forecasts, projections, or other statements other than statements of historical fact, are forward-looking statements. Although Cydsa believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Certain risks and uncertainties inherent in Cydsa's business are set forth in the Statement and Cydsa's filings with the Mexican Stock Exchange. Avenida Ricardo Margain Zozaya 565-B Col. Parque Corporativo Santa Engracia San Pedro Garza Garcia,Nuevo Le�n, M�xico, C.P. 66267 http://cydsa.com/Espanol/index.htm DATASOURCE: Cydsa S.A. de C.V CONTACT: Jose de Jesus Montemayor Castillo, Chief Financial Officer, +52-81-8152-4585 Web site: http://www.cydsa.com.mx/

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