EXHIBIT 99.4



         Stamford,  Conn.,  July 10,  1995 --  American  Maize-Products  Company
(ASE:AZE) announced today that it received a proposal from Eridania  Beghin-Say,
S.A. to acquire the Company at a price of $40 per share in a merger transaction.
In connection with this proposal, on July 7, 1995, Eridania entered into letters
of intent with the stockholders of GIH Corp.,  which owns  approximately  13% of
outstanding  American Maize Class A shares and 47% of outstanding American Maize
Class B shares,  to purchase all of the stock of GIH Corp. at a price calculated
based on an underlying  value of $40 per share of American  Maize stock owned by
GIH Corp. In addition,  the letters of intent provide that, following Eridania's
acquisition  of American  Maize,  Eridania  will sell 88% of the common stock of
Swisher  International  Inc., the tobacco business of American Maize, to a group
led by William Ziegler, III for $165 million. Eridania will retain the remaining
12%  interest  in Swisher.  The letters of intent  expire 45 days after the date
thereof.

         These transactions are subject to several conditions,  including, among
others, (i) negotiation and execution of definitive documentation,  (ii) receipt
of financing by the Ziegler group for the purchase of Swisher and (iii) approval
by the  American  Maize  Board  of  Directors  and  stockholders  of  Eridania's
acquisition  of  American  Maize.  There  can be no  assurance  that  definitive
agreements  in  connection  with  these  transactions  will be  executed  or, if
executed, that these transactions will be consummated.

         On February 22,  1995,  American  Maize and Eridania  executed a merger
agreement   pursuant  to  which  Eridania  commenced  a  tender  offer  for  all
outstanding  American  Maize common stock at a price of $40 per share.  Eridania
terminated  its tender offer in May because the  conditions to the offer had not
been met.

         American  Maize,   based  in  Stamford,   Connecticut,   produces  corn
sweeteners and a variety of specialty food and industrial  starches at plants in
Hammond, Indiana; Decatur, Alabama and Dimmitt, Texas. The Company also produces
cigars and smokeless tobacco products at plants located in Jacksonville, Florida
and Wheeling, West Virginia.