-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EjMdlglxkjHL6nAUkHPnCYW6vzQWIN6vgH2lvhLksV9Bpx039K6b196/ihQsrGLP Z9wSjr4+PMNstjBNeOqiVw== /in/edgar/work/20000602/0000944209-00-000987/0000944209-00-000987.txt : 20000919 0000944209-00-000987.hdr.sgml : 20000919 ACCESSION NUMBER: 0000944209-00-000987 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000602 GROUP MEMBERS: HUDSON ADVISORS, LLC GROUP MEMBERS: LONE STAR OPPORTUNITY FUND, LP GROUP MEMBERS: LONE STAR SECURITIES FUND L L C GROUP MEMBERS: LONE STAR SECURITIES FUND, LLC GROUP MEMBERS: LONE STAR SECURITIES LIMITED GROUP MEMBERS: LSOF INVESTMENTS, LLC GROUP MEMBERS: LSS MANAGEMENT, INC. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CADIZ INC CENTRAL INDEX KEY: 0000727273 STANDARD INDUSTRIAL CLASSIFICATION: [0700 ] IRS NUMBER: 770313235 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-35468 FILM NUMBER: 648463 BUSINESS ADDRESS: STREET 1: 100 WILSHIRE BLVD. STREET 2: SUITE 1600 CITY: SANTA MONICA STATE: CA ZIP: 90401 BUSINESS PHONE: 3108994700 MAIL ADDRESS: STREET 1: 100 WILSHIRE BLVD. STREET 2: SUITE 1600 CITY: SANTA MONICA STATE: CA ZIP: 90401-1111 FORMER COMPANY: FORMER CONFORMED NAME: CADIZ LAND CO INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PACIFIC AGRICULTURAL HOLDINGS INC DATE OF NAME CHANGE: 19920602 FORMER COMPANY: FORMER CONFORMED NAME: ARIDTECH INC DATE OF NAME CHANGE: 19880523 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: LONE STAR SECURITIES FUND L L C CENTRAL INDEX KEY: 0001070308 STANDARD INDUSTRIAL CLASSIFICATION: [ ] IRS NUMBER: 752721433 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 600 NORTH PEARL ST STREET 2: SUITE 1550 CITY: DALLAS STATE: TX ZIP: 75201 BUSINESS PHONE: 2147548459 MAIL ADDRESS: STREET 1: 600 NORTH PEARL ST STREET 2: SUITE 1550 CITY: DALLAS STATE: TX ZIP: 75201 SC 13D/A 1 0001.txt SCHEDULE 13 D/A #1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ____________ SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (Amendment No. 1)/1/ Cadiz Inc. ---------- (Name of Issuer) Common Stock ------------ (Title of Class of Securities) 127549103 --------- (CUSIP Number) J.D. Dell, Esq. Lone Star Opportunity Fund, L.P. 600 North Pearl Street, Suite 1550 Dallas, Texas 75201 (214) 754-8307 -------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) with a copy to: Ian C. Wiener, Esq. Irell & Manella LLP 1800 Avenue of the Stars, Suite 900 Los Angeles, CA 90067 (310) 277-1010 July 1, 1999 ----------------------------------------------------- (Date of Event Which Requires Filing of This Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [ ]. - ---------------------- /1/ The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. (Continued on following pages) (Page 1 of 13 Pages) - ----------------------------- ---------------------------- CUSIP No. 127549103 13D Page 2 of 13 Pages - ----------------------------- ---------------------------- - ------------------------------------------------------------------------------ NAMES OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Lone Star Securities Fund, L.L.C. - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 WC. OO - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] 5 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF - 0 - SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 2,053,220 OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING - 0 - PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,053,220 - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,053,220 - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 5.8% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 OO - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------------ ------------------------ CUSIP No. 127549103 13D Page 3 of 13 Pages - ------------------------ ------------------------ - ------------------------------------------------------------------------------ NAMES OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). LSOF Investments, LLC - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [x] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 AF - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] 5 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF -0- SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 2,053,220 OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING -0- PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,053,220 - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,053,220 - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 5.8% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 OO - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------------ ------------------------ CUSIP No. 127549103 13D Page 4 of 13 Pages - ------------------------ ------------------------ - ------------------------------------------------------------------------------ NAMES OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Lone Star Securities Limited - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [x] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 AF - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] 5 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Bermuda - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF -0- SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 2,053,220 OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING -0- PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,053,220 - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,053,220 - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 5.8% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 OO - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------------------------------------------------------------------ CUSIP No. 127549103 13D Page 5 of 13 Pages - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ NAMES OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Lone Star Opportunity Fund, L.P. - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 AF - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] 5 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 -0- NUMBER OF SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 2,053,220 OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 -0- REPORTING PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,053,220 - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,053,220 - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 5.8% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 PN - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------------------------------------------------------------------ CUSIP No. 127549103 13D Page 6 of 13 Pages - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ NAMES OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Hudson Advisors, L.L.C. - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 AF - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] 5 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Texas - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 -0- NUMBER OF SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 2,053,220 OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 -0- REPORTING PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,053,220 - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,053,220 - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 5.8% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 IA, OO - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! - -------------------------------- ------------------------------ CUSIP No. 127549103 13D Page 7 of 13 Pages - -------------------------------- ------------------------------ - ------------------------------------------------------------------------------ NAMES OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). LSS Management, Inc. - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 AF - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] 5 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF - 0 - SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 - 0 - OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING - 0 - PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 - 0 - - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 - 0 - - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 0% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (See Instructions) 14 IA; CO - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ------------------------------ ------------------------------- CUSIP No. 127549103 13D Page 8 of 13 Pages - ------------------------------ ------------------------------- This Statement, which is being filed jointly by Lone Star Securities Fund, L.L.C., LSOF Investments, LLC, Lone Star Securities Limited, Lone Star Opportunity Fund, L.P., Hudson Advisors, L.L.C. and LSS Management, Inc. constitutes Amendment No. 1 to the Schedule 13D originally filed with Securities and Exchange Commission on September 14, 1998 (the "Schedule 13D"). The Schedule 13D relates to the shares of Common Stock, par value $.01 per share (the "Common Stock"), of Cadiz Inc., a Delaware corporation (the "Company"). Item 2. Identity and Background. Items 2(a), 2(b), 2(c) and 2(f) of the Schedule 13D are hereby amended and restated in their entirety to read as follows: (a)-(c), (f) Lone Star Securities Fund, L.L.C., a Delaware limited liability company ("LS Securities") owns the Common Stock. The managing member of LS Securities is LSOF Investments, LLC, a Delaware limited liability company ("LSOF"). The sole member of LSOF is Lone Star Securities Limited, a Bermuda exempted limited liability company ("LSSL"). The sole stockholder of LSSL is Lone Star Opportunity Fund, L.P., a Delaware limited partnership ("Lone Star"). The general partner of Lone Star is Lone Star Partner, L.P., a Delaware limited partnership ("Partner"). The general partner of Partner is Lone Star Management Co., Ltd., a Delaware corporation ("Management"). Hudson Advisors, L.L.C., a Texas limited liability company ("Hudson"), is the asset manager of LS Securities pursuant to an Asset Management Agreement. Robert J. Corcoran, a citizen of the United States ("Corcoran"), is the President and Chief Financial Officer of Hudson and J.D. Dell, a citizen of the United States ("Dell"), is Executive Vice President of Hudson. John P. Grayken, a resident of the United Kingdom ("Grayken"), is the sole stockholder, sole director and President of Management and the sole beneficial owner of Hudson. Partner, Management, Corcoran, Dell and Grayken disclaim beneficial ownership of the Common Stock. LS Securities, LSOF, LSSL, Lone Star and Hudson are referred to herein as the "Reporting Persons". LSS Management, Inc., a Delaware corporation, which was the investment manager of LS Securities at the time of filing the Schedule 13D, has ceased to be the investment manager of LS Securities and accordingly disclaims beneficial ownership of the Common Stock. The principal offices and business address of LS Securities, LSOF, Lone Star, Partner and Management is 600 North Pearl Street, Suite 1550, Dallas, Texas 75201. The principal offices and business address of Hudson is 600 North Pearl Street, Suite 1500, Dallas, Texas 75201. The principal offices and business address of LSSL is Gibbons Building, Suite 102, 10 Queen Street, Hamilton HM 11, Bermuda. The business address of Corcoran and Dell is 600 North Pearl Street, Suite 1500, Dallas, Texas 75201. The business address of Grayken is 50 Welbeck Street, London, United Kingdom, W1M7HE. LS Securities, LSOF, LSSL, Lone Star, Partner and Management are all part of a private investment partnership the principal business of which is investing in a broad range of primarily real estate related investments. Lone Star's investors are primarily pension funds and other institutional investors. The principal business of Hudson is the management of Lone Star's assets. Corcoran's principal occupation is serving as an officer of Hudson in the aforementioned capacities. Dell's principal occupation is serving as an officer of Lone - ------------------------------ ------------------------------- CUSIP No. 127549103 13D Page 9 of 13 Pages - ------------------------------ ------------------------------- Star and Hudson. Grayken's principal occupation is serving as an officer of Management in the aforementioned capacities. Item 3. Source and Amount of Funds or Other Consideration. Item 3 of the Schedule 13D is hereby amended to add the following: As of the date hereof, the Reporting Persons beneficially own an aggregate of 2,053,220 shares of Common Stock which were purchased at a total purchase price of approximately $16,900,000. Item 5. Interest in Securities of the Issuer. Items 5(a) through 5(d) of the Schedule 13D are hereby amended and restated in their entirety to read as follows: (a)-(b) As of the date hereof, the Reporting Persons beneficially own an aggregate of 2,053,220 shares of Common Stock which represents approximately 5.8% of the outstanding shares of Common Stock of the Company, based on 35,302,911 shares of Common Stock outstanding as of March 29, 2000. The Reporting Persons share the voting and dispositive power with respect to such shares. To the Reporting Persons' knowledge, none of the persons disclosed in response to Item 2 (except for the Reporting Persons) owns any shares of Common Stock or can vote or direct the vote of any shares of Common Stock, nor can any such individual dispose or direct the disposition of any shares of Common Stock. (c) None of the Reporting Persons, nor to the Reporting Persons' knowledge any of the other persons disclosed in response to Item 2, has effected any transaction in shares of Common Stock during the past sixty days. (d) No person other than the Reporting Persons is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the 2,053,220 shares of Common Stock beneficially owned by the Reporting Persons. Item 7. Material to be Filed as Exhibits Joint Filing Agreement dated as of May 24, 2000. - ------------------------------ ------------------------------- CUSIP No. 127549103 13D Page 10 of 13 Pages - ------------------------------ ------------------------------- SIGNATURE AND AGREEMENT After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. The undersigned signatories hereby agree that the foregoing statement is filed on behalf of each of them. Dated: May 24, 2000 LONE STAR SECURITIES FUND, L.L.C. By: LSOF Investments, LLC Managing Member By: Lone Star Securities Limited Sole Member By: Lone Star Opportunity Fund, L.P. Sole Stockholder By: Lone Star Partners, L.P. General Partner By: Lone Star Management Co., Ltd. General Partner By: /s/ J.D. Dell ------------------------------ J.D. Dell, Vice President LSOF INVESTMENTS, LLC By: Lone Star Securities Limited Sole Member By: Lone Star Opportunity Fund, L.P. Sole Stockholder By: Lone Star Partners, L.P. General Partner By: Lone Star Management Co., Ltd. General Partner By: /s/ J.D. Dell ------------------------------ J.D. Dell, Vice President - ------------------------------ ------------------------------- CUSIP No. 127549103 13D Page 11 of 13 Pages - ------------------------------ ------------------------------- LONE STAR SECURITIES LIMITED By: Lone Star Opportunity Fund, L.P. Sole Stockholder By: Lone Star Partners, L.P. General Partner By: Lone Star Management Co., Ltd. General Partner By: /s/ J.D. Dell ------------------------------ J.D. Dell, Vice President LONE STAR OPPORTUNITY FUND, L.P. By: Lone Star Partners, L.P. General Partner By: Lone Star Management Co., Ltd. General Partner By: /s/ J.D. Dell ------------------------------ J.D. Dell, Vice President HUDSON ADVISORS, L.L.C. By: /s/ Robert J. Corcoran ----------------------------------- Robert J. Corcoran, President LSS MANAGEMENT, INC. By: /s/ J.D. Dell ----------------------------------- J.D. Dell, Vice President - ------------------------------ ------------------------------- CUSIP No. 127549103 13D Page 12 of 13 Pages - ------------------------------ ------------------------------- AGREEMENT REGARDING JOINT FILING OF STATEMENT ON SCHEDULE 13D In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, each of the persons named below agrees to the joint filing on behalf of each of them of a Statement on Schedule 13D (including amendments thereto) with respect to the common stock, par value $.01 per share, of Cadiz Inc., a Delaware corporation, and further agrees that this Joint Filing Agreement be included as an exhibit to such filings provided that, as contemplated by Section 13d-1(k)(l)(ii), no person shall be responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate. Dated: As of May 24, 2000 LONE STAR SECURITIES FUND, L.L.C. By: LSOF Investments, LLC Managing Member By: Lone Star Securities Limited Sole Member By: Lone Star Opportunity Fund, L.P. Sole Stockholder By: Lone Star Partners, L.P. General Partner By: Lone Star Management Co., Ltd. General Partner By: /s/ J.D. Dell ------------------------------ J.D. Dell, Vice President LSOF INVESTMENTS, LLC By: Lone Star Securities Limited Sole Member By: Lone Star Opportunity Fund, L.P. Sole Stockholder By: Lone Star Partners, L.P. General Partner By: Lone Star Management Co., Ltd. General Partner By: /s/ J.D. Dell ------------------------------ J.D. Dell, Vice President - ------------------------------ ------------------------------- CUSIP No. 127549103 13D Page 13 of 13 Pages - ------------------------------ ------------------------------- LONE STAR SECURITIES LIMITED By: Lone Star Opportunity Fund, L.P. Sole Stockholder By: Lone Star Partners, L.P. General Partner By: Lone Star Management Co., Ltd. General Partner By: /s/ J.D. Dell ------------------------------ J.D. Dell, Vice President LONE STAR OPPORTUNITY FUND, L.P. By: Lone Star Partners, L.P. General Partner By: Lone Star Management Co. Ltd. General Partner By: /s/ J.D. Dell ------------------------------ J.D. Dell, Vice President HUDSON ADVISORS, L.L.C. By: /s/ Robert J. Corcoran ----------------------------------- Robert J. Corcoran, President LSS MANAGEMENT, INC. By: /s/ J.D. Dell ----------------------------------- J. D. Dell, Vice President -----END PRIVACY-ENHANCED MESSAGE-----