Exhibit 99


UNIVERSAL CORPORATION                               NEWS
P.O. Box 25099                                      Phone:      (804)359-9311
Richmond, VA 23260                                  Fax:        (804)254-3584


Contact:                                            Release:

     KAREN M.L. WHELAN                                    January 22, 1998
     Phone:       (804)359-9311                           8:00 A.m. EST
     Fax:         (804)254-3594



       UNIVERSAL AND SOCOTAB TO FORM PARTNERSHIP IN ORIENTAL LEAF TOBACCO

RICHMOND, VA, January 22, 1998 / PRNEWSWIRE

Henry H. Harrell,  Chairman and Chief Executive Officer of Universal Corporation
announced today that N.V. Deli Universal,  a Dutch subsidiary of Universal,  has
reached  agreement  to sell all of its  minority  interest  in a European  spice
company to the majority owner,  Cosun, a Dutch  cooperative.  The transaction is
expected to be finalized by the end of January.

The spice company,  Unifine,  has annual sales of approximately  NLG 150 million
(about $77 million).  Universal  estimates  that it will  recognize an after-tax
gain of approximately $11 million on the transaction, which will be reflected in
Universal's third quarter earnings.

Universal  Corporation  is a  diversified  company with  operations  in tobacco,
lumber, and agri-products.  Its gross revenues for the fiscal year that ended on
June 30, 1997, were approximately $4.1 billion.

                                      # # #