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DESC S.A. de C.V. Announces US$ 15 Million Repurchase of Outstanding Debt

6 January 2000

DESC S.A. de C.V. Announces US$ 15 Million Repurchase of Outstanding Debt

    MEXICO CITY--Jan. 6, 2000--DESC, S.A. de C.V. (BMV:DESC) today announced that in December, Dine, S.A. de C.V., its real estate subsidiary, bought back 10% of its 8 3/4 Guaranteed Notes due 2007. The transaction, equivalent to a nominal amount of US $15 million, was repurchased using the Company's own resources. The operation was done at a discount of 10%.
    The objective of the transaction follows DESC's strategy of reducing its debt level. Subsequent to the repurchase, the outstanding balance in Guaranteed Notes is US$ 135 million.
    DESC S.A. de C.V., headquartered in Mexico City, is one of the largest industrial groups in Mexico. Through its wholly owned subsidiaries, DESC is engaged in the auto-parts, chemicals, food, consumer products and real estate industries. More information about DESC S.A. de C.V. can be obtained via the Internet at www.desc.com.mx.