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14100 NW 60 Avenue
Miami Lakes, Florida  33014

FOR IMMEDIATE RELEASE
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                   French Fragrances Announces
            Proposed Offering of Senior Secured Notes
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Miami, Florida (January 8, 2001) -- French Fragrances, Inc. (NASDAQ:
FRAG), doing business as FFI Fragrances, announced today that it is
proposing to make an offering of approximately $160 million principal
amount of senior secured notes. The notes will bear a fixed
rate, payable semiannually, and are expected to mature in 2011.

The net proceeds of the notes offering together with borrowings under
a new $175 million revolving credit facility are expected to be used
to finance the acquisition of the Elizabeth Arden skin treatment,
cosmetics and fragrance brands, the Elizabeth Taylor fragrance brands,
the White Shoulders fragrance brand and related assets and liabilities
from affiliates of the Unilever Group (NYSE: UN) together with related
costs and expenses.

The notes will not be registered under the Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements of the act.

"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: The statements contained in this release which are not
historical facts are forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ
materially from those set forth in or implied by forward-looking
statements, including: the failure of the Company to complete the
proposed offering or to obtain other suitable financing; the failure
of the Company to close the Arden acquisition; the Company's ability
to successfully and cost-effectively integrate the acquired businesses
and other acquired companies and new brands into the Company; the
Company's ability to retain employees from the acquired businesses;
the Company's ability to launch new products and implement its growth
strategy; risks of international operations; the substantial
indebtedness of the Company, including the indebtedness incurred in
connection with this proposed offering and the acquisition; supply
constraints or difficulties; the impact of competitive products and
pricing; changes in the retail industry; the effect of business and
economic conditions; and other risks and uncertainties. More detailed
information about these factors is included from time to time in
reports filed by the Company with the Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on
forward-looking statements which speak only as of the date hereof. The
Company assumes no responsibility to update or revise forward-looking
statements contained herein to reflect events or circumstances
following the date hereof.


Investor Contact:  Stacey Bibi/Shannon Froehlich/Natasha Boyden
                   Morgen-Walke Associates, New York
                   (212) 850-5600

Press Contact:     Michael McMullan/Eileen King
                   Morgen-Walke Associates, New York
                   (212) 850-5600