EXHIBIT 99.1


    NEW YORK (FEBRUARY 20, 2001) - International Flavor & Fragrances Inc.
("IFF") (NYSE: IFF) today provided an update regarding its integration of
Bush Boake Allen Inc. ("BBA") and the progress of its reorganization plan
announced on October 5, 2000. IFF also outlined its perspectives on 2001.
The Company noted that:

    o  it has achieved an annual run-rate of $30 million of cost savings;
    o  it implemented initiatives to significantly reduce debt and
       strengthen the balance sheet;
    o  it established objectively-based annual and long-term incentive
       plans to retain and incentivize key employees; and
    o  it has continued improvement of customer service to enhance
       relationships with key customers.

    Richard A. Goldstein, Chairman and Chief Executive Officer, said, "IFF
began 2001 with two main priorities - continuing to focus on the
integration of BBA and further implementing our reorganization. As a
result, we have streamlined the Company, strengthened relationships with
our key customers through enhanced customer service, invested in business
development and implemented programs to retain and incentivize key
employees. We are confident that this back-to-basics approach will enable
IFF to achieve superior long-term operating results and enhance shareholder
value."

COST SAVINGS

    As previously announced, IFF expects to achieve cost savings of
approximately $70 million as a result of the acquisition of BBA
(approximately half of which are expected to be realized in 2001), and cost
savings of approximately $25 million to $30 million by 2003 as a result of
the reorganization announced on October 5, 2000.

    As of March 31, 2001, IFF will have achieved an annual run-rate cost
savings of approximately $30 million, primarily through headcount
reductions and the consolidation or elimination of duplicate facilities.
The Company noted that it has identified 56 locations around the world in
which there are duplicate operating facilities and sales offices. Decisions
have been made and action plans developed with respect to the consolidation
and elimination of a substantial portion of these duplicate sites. To date,
the integration process has affected approximately 120 positions;
approximately 270 positions will have been eliminated by March 31, 2001.

    Approximately $2 million of cost savings are expected to be achieved
for the quarter ended March 31, 2001, and an additional $8 million are
expected to be achieved in the second quarter of 2001.

    The Company continues to anticipate that portions of the cost savings
will be reinvested in various aspects of the business, although a
substantial portion is expected to flow through to the bottom line and to
shareholders. Those funds to be reinvested will drive business development,
enhance strategic relationships with existing customers, and support
comprehensive employee training and management development programs. The
balance will flow through to the Company's shareholders in the form of
increased earnings.

INITIATIVES TO SIGNIFICANTLY PAY DOWN DEBT

    IFF also announced today that its Board of Directors and management are
currently evaluating the Company's entire business portfolio as part of an
ongoing effort to refocus IFF on its core strategic areas. As a first step,
the Board has authorized management to divest a significant portion of the
aroma chemicals business acquired as part of the BBA transaction. The BBA
chemicals business had sales of approximately $100 million for the year
ended December 31, 2000. IFF has entered into preliminary discussions with
potential third parties; however, the Company does not intend to comment
further with respect to the sale of this business unless and until a
definitive agreement is reached. IFF will also continue to evaluate the
remainder of its portfolio on an ongoing basis.

    IFF intends to use the proceeds from the sale of the BBA aroma
chemicals business and the sale of any other non-core segments of its
business to pay down debt. As of December 31, 2000, IFF had approximately
$1.25 billion debt outstanding.

NEW COMPENSATION PROGRAMS

    IFF announced today that it has implemented new compensation programs
directly linking compensation for all employees worldwide to clearly
defined operating targets. Compensation will include both Annual Incentive
Plans, and a Long-Term Incentive Plan; the Long-Term plan will initially
encompass approximately 30 senior IFF employees around the world although
participation will be expanded as the Company gains experience with the
program. Under the Annual Incentive Plan, employees' bonuses are payable on
meeting established targets for sales growth, improvement in gross margin
and operating cash flows. The Long-term Plan is based on growth in earnings
per share and returns on net assets.

OUTLOOK FOR 2001

    IFF expects total revenue growth in the low-single digits for 2001. In
percentage terms, sales growth is expected to be strongest in the
Asia-Pacific and Latin American operating regions, where growth is expected
in the mid-to-high single digits; growth in North America, Europe and CAME
is expected to be in the low-single digits. IFF expects earnings per share
for 2001, excluding nonrecurring charges, to approximate $1.42 per share,
consistent with the Company's previous 2001 expectations.

SHARE REPURCHASE PROGRAM

    During 2000, IFF repurchased approximately 7.5 million shares as part
of its authorized share repurchase programs. As of December 31, 2000,
approximately $170 million remained under the $200 million stock repurchase
program authorized by the Board of Directors in September 2000. IFF intends
to continue its stock repurchase program during 2001.


ABOUT IFF

    IFF is the world's leading creator and manufacturer of flavors and
fragrances used by others to impart or improve flavor or fragrance in a
wide variety of consumer products. The Company has sales, manufacturing and
creative facilities in more than 40 countries worldwide. Pro-forma sales
for the combined IFF and BBA totaled $1.88 billion for 2000.

CAUTIONARY STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995

    Statements in this release that are not historical facts or information
are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, and are subject to risks and
uncertainties that could cause IFF's actual results to differ materially
from those expressed or implied by such forward-looking statements. Risks
and uncertainties with respect to IFF's business include general economic
and business conditions, the price and availability of raw materials, and
political and economic uncertainties, including the fluctuation or
devaluation of currencies in countries in which IFF does business.

CONFERENCE CALL DETAILS

    There will be a conference call today at 10:00 AM EDT. It can be
monitored via the World Wide Web at www.IFF.com. Real Network's Real Player
or Microsoft Media Player is required to access the webcast. They can be
downloaded from http://www.real.com or
http://www.microsoft.com/windows/mediaplayer.

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CONTACT:

Douglas J. Wetmore
212-708-7145