CADIZ INC.


FOR IMMEDIATE RELEASE:         CONTACT:
----------------------         --------
January 30, 2003               Timothy J. Shaheen
                               President & Chief Executive Officer
                               Sun World International, Inc.
                               (310) 899-4700


   SUBSIDIARY SUN WORLD INTERNATIONAL FILES FOR CHAPTER 11
         TO SECURE NEW FINANCING FOR WORKING CAPITAL


     SANTA MONICA, CA - Cadiz Inc. (NASDAQ: CLCI) ("Cadiz")
announced today that Sun World International, Inc. ("Sun
World"), a wholly-owned subsidiary, filed a voluntary
petition for Chapter 11 bankruptcy protection in order to
access a seasonal financing package of up to $40 million to
provide working capital through the 2003-04 growing seasons.
Cadiz itself is not a party to the filing.

     Historically, Cadiz has supplemented the annual working
capital requirements of Sun World.  As previously disclosed,
Cadiz determined it would not be in a position to supplement
the revolving credit facility for this forthcoming season,
thereby requiring Sun World to access a larger facility than
in the past.  Sun World was able to obtain this larger
facility, however the new loan was conditioned on reaching
an arrangement with the holders of Sun World Series B First
Mortgage Notes ("Noteholders").  Sun World ultimately was
unable to procure the financing with the consent of all
parties.  Therefore, the only way to complete this new
financing on a timely basis was to seek Court approval,
pursuant to Chapter 11, under a Debtor in Possession ("DIP")
facility.  Up to $40 million in DIP financing will be
available subject to approval by the Bankruptcy Court.  Sun
World will continue to work with the Noteholders and other
stakeholders on these capital structure issues.

     The filing was made in the United States Bankruptcy
Court, Central District of California, Riverside Division.

     "The filing was necessary to protect our employees,
customers, growers, and to allow Sun World to meet seasonal
working capital requirements," stated Tim Shaheen, CEO of
Sun World.  "Following a solid operating performance in
2002, we believe the business is well positioned for future
growth, and this filing will allow us to work with our
lenders to develop an acceptable long-term capital structure
for the company."

     Cadiz will continue to work with its primary lender,
ING, on its overall strategic plan, as well as revising its
previously-announced agreement to extend the maturity on its
Senior debt, which was conditioned on the annual renewal of
the Sun World revolving credit facility.  Cadiz will report
further to shareholders on this shortly.

     Founded in 1983, Cadiz Inc. is a publicly held water
resource management and agricultural firm. With its
subsidiary, Sun World International, Inc., Cadiz is one of
the largest vertically integrated agricultural companies in
California. Cadiz owns significant landholdings with
substantial water resources throughout California. Further
information on Cadiz and Sun World can be obtained by
visiting Cadiz' corporate web site at www.cadizinc.com.

     This release contains forward-looking statements that
are subject to significant risks and uncertainties,
including statements related to the future operating and
financial performance of Cadiz and Sun World, the status of
the Cadiz Program, and the financing activities of the
Company. Although Cadiz believes that the expectations
reflected in its forward-looking statements are reasonable,
it can give no assurance that such expectations will prove
to be correct. Factors that could cause actual results or
events to differ materially from those reflected in Cadiz'
forward-looking statements include price, yield, and
seasonally fluctuations in its agricultural operations, the
Company's ability to maximize value for Cadiz land and water
resources, the Company's ability to obtain extensions on
currently outstanding debt, the Company's ability to obtain
new financing as needed to meet our ongoing working capital
needs, Sun World's ability to obtain necessary approvals and
conclude a reorganization through the bankruptcy process,
and other factors and considerations detailed in Cadiz'
Securities and Exchange Commission filings.

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