FOR IMMEDIATE RELEASE                        Contact:  Robert L. Macdonald
                                                       (203) 783-2011



                   BIC CORPORATION AND SOCIETE BIC S.A.
                     ANNOUNCE AGREEMENT ON CASH MERGER
                            AT $40.50 PER SHARE

      Milford,  CT;  Clichy, France, August 16, 1995  - -  BIC  Corporation
(NYSE  :  BIC)  and its French parent, Societe BIC S.A., jointly  announced
today  that they have executed a definitive merger agreement pertaining  to
Societe  BIC  S.A.'s previously announced proposal to acquire  from  public
shareholders the approximately 22% of BIC Corporation's common  shares  not
currently  owned  by  Societe  BIC S.A. and the  Bich  family.   Under  the
agreement,  Societe BIC S.A. will acquire in the merger the  publicly  held
shares  of BIC Corporation for a price of $40.50 per share in cash,  or  an
aggregate of approximately $219 million.

      The  merger agreement was approved by the Board of Directors  of  BIC
Corporation  following the unanimous recommendation  of  the  merger  by  a
special  committee  of independent directors.  Goldman,  Sachs  &  Co.  has
served as financial advisor to the special committee.

      The  transaction,  which will be financed out of Societe  BIC's  cash
position, is subject to certain customary conditions including approval  of
a  majority of the publicly held shares actually voted at a special meeting
of shareholders which will be called to consider the merger.

      Although  there  can  be  no assurance as  to  whether  the  proposed
transaction will be effected, it is currently anticipated that  the  merger
will  be  completed in late October or early November of 1995.   Under  the
terms  of  the merger agreement, BIC Corporation will not pay the regularly
scheduled cash dividend payable on October 30, 1995, even if the merger  is
consummated subsequent to such date.

      BIC  Corporation, headquartered in Milford, Connecticut, is a leading
U.S.  manufacturer  and  distributor of stationery products,  lighters  and
shavers.  1994 sales were $475 million.