Exhibit 99.1

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For release: IMMEDIATELY

     For additional information contact: Richard G. Johnson, Chief Financial
Officer, or Steven L. Cohen, General Counsel -- (201) 944-6020

                   PHIBRO ANIMAL HEALTH CORPORATION ANNOUNCES
                     RECEIPT OF APPROVAL TO AMEND INDENTURE

     Fort Lee, New Jersey, October 2, 2003 -- Phibro Animal Health Corporation
(the "Company"), formerly Philipp Brothers Chemicals, Inc., which previously
announced a consent solicitation with respect to its 9 7/8% Senior Subordinated
Notes Due 2008 (the "Existing Notes"), announced today that it has received and
accepted the requisite consents from the holders of a majority of the Existing
Notes. The Company commenced the consent solicitation last Wednesday, September
24, 2003, in conjunction with the private offering of $105 million of senior
secured notes due 2007. The proposed amendments to the indenture governing the
Existing Notes set forth in the Company's Consent Solicitation Statement dated
September 24, 2003 have become effective.

     The Company is a leading diversified global manufacturer and marketer of a
broad range of animal health and nutrition products, specifically medicated feed
additives ("MFAs") and nutritional feed additives, which the Company sells
throughout the world predominantly to the poultry, swine and cattle markets.
MFAs are used preventively and therapeutically in animal feed to produce healthy
livestock. The Company is also a specialty chemicals manufacturer and marketer,
serving numerous markets.

Forward-Looking Statements

     This news release contains statements that, to the extent that they are not
recitations of historical fact, constitute "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995, Section 21E
of the Securities Exchange Act of 1934. Such forward-looking information
involves risks and uncertainties that could cause actual results to differ
materially from those expressed in any such forward-looking statements. These
risks and uncertainties include, but are not limited to, the Company's
substantial leverage and potential inability to service its debt; the Company's
dependence on distributions from its subsidiaries; risks associated with the
Company's international operations and significant foreign assets; the Company's
dependence on its Israeli operations; competition in each of the Company's
markets; potential environmental liability; potential legislation affecting the
use of medicated feed additives; extensive regulation by numerous government
authorities in the United States and other countries; the Company's reliance on
the continued operation and sufficiency of our manufacturing facilities; the
Company's reliance upon unpatented trade secrets; the risks of legal proceedings
and general litigation expenses; potential operating hazards and uninsured
risks; the risk of work stoppages; the Company's dependence on key personnel;
and other factors discussed in the Company's filings with the U.S. Securities
and Exchange Commission.