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                       SAVANNAH FOODS & INDUSTRIES, INC.
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                (Name of Registrant as Specified in Its Charter)
 
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                   (Name of Person(s) Filing Proxy Statement)
 
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FOR IMMEDIATE RELEASE                             Contact:  Jorge Dominicis
                                                             (561) 655-6303


Editor's note: Florida Crystals Companies today issued the following statement
with respect to its pending merger with Savannah Foods & Industries Inc.:


           FLORIDA CRYSTALS WORKING TO COMPLETE SAVANNAH FOODS MERGER

        Palm Beach, FL, August 27, 1997--The Florida Crystals Companies, a
Florida-based privately-owned supplier of raw cane sugar and other agricultural
goods, intends to continue to work toward the successful completion of its
previously announced merger with Savannah Foods & Industries Inc.

        Though Imperial Holly Corporation, a producer and marketer of refined
sugar, has expressed an interest in acquiring Savannah Foods, the rationale for
Savannah Foods' merger with Florida Crystals remains intact: assuring a stable
supply of raw sugar and integrating operations, from the farm to the customer.

        Florida Crystals believes the leveraging of Savannah contemplated by the
Imperial Holly proposal will sacrifice the long-term interest of Savannah's
shareholders, employees, local community and consumers. Their long-term
interests will be better served by a merger that enhances Savannah's ability to
compete and provides a strong platform for expansion of the combined business.

        Florida Crystals Companies are controlled by Flo-Sun Inc., a
privately-owned company controlled by the Fanjul family. The Flo-Sun companies
were founded in 1960 by the Fanjul family, now in its fifth generation in the
sugar business. Florida Crystals is also recognized as the first fully
integrated sugar company in the United States with operations ranging from the
planting and farming of sugar cane to the milling and refining of sugar, under
the Florida Crystals label. Florida Crystals has expanded to become one of the
largest sugar producers in Florida, farming approximately 181,000 acres of
sugar fields with over 3,000 employees.