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James R. Cantalupo to Resign as Director of IFF


NEW YORK, Dec. 18 /PRNewswire-FirstCall/ -- International Flavors & Fragrances Inc. (NYSE: IFF) announced today that James R. Cantalupo, newly appointed Chairman and Chief Executive Officer of McDonald's Corporation, is resigning from the Board of Directors of IFF, effective December 31, 2002.

Mr. Cantalupo has advised IFF's Board that he regrets that his newly-assumed responsibilities necessitate curtailing his outside board commitments.

Richard A. Goldstein, IFF's Chairman and CEO, stated, "Our Board of Directors has accepted Jim's resignation with regret, and extend our best wishes to him in his new position."

About IFF

IFF is the world's leading creator and manufacturer of flavors and fragrances used in a wide variety of consumer products -- from fine fragrances and toiletries, to soaps, detergents and other household products, to beverages and food products. IFF is dedicated to The Pursuit of Excellence in every area of its business, using knowledge, creativity, innovation and technology to continually provide customers with the highest quality products and service and superior consumer understanding.

IFF has sales, manufacturing and creative facilities in 37 countries worldwide and annual sales exceeding $1.8 billion. For more information, please visit our Web site at SOURCE International Flavors & Fragrances Inc.

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/CONTACT: Doug Wetmore, +1-212-708-7145, for International Flavors & Fragrances Inc./