IFF NEWS REALEASE

INTERNATIONAL FLAVORS & FRAGRANCES INC.
521 WEST 57TH STREET, NEW YORK, N.Y. 10019
(212) 765-5500

                                                          FOR IMMEDIATE RELEASE
                                                          ---------------------

                IFF TO OFFER $500 MILLION OF FIVE-YEAR NOTES
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New York, N.Y., April 27, 2001 --- International Flavors & Fragrances Inc.
(NYSE: IFF) announced today that it is conducting a $500 million offering
of five-year notes to repay a portion of outstanding borrowings issued
under its commercial paper program to finance the acquisition of Bush Boake
Allen Inc. in November 2000, subject to market conditions. The offering is
anticipated to close in early May 2001. The offering is being made only to
qualified institutional buyers in the United States pursuant to Rule 144A
of the Securities Act of 1933 and to certain persons in offshore
transactions in reliance on Regulation S of the Securities Act.

The notes being offered have not been registered under the Securities Act
and may not be offered or sold in the United States absent registration or
an applicable exemption from the registration requirements. This notice
does not constitute an offer to sell or the solicitation of an offer to buy
any security and shall not constitute an offer, solicitation or sale of any
securities in any jurisdiction in which such offer or sale would be
unlawful and is furnished for information purposes only.

                                 * * * * *

Cautionary Statement Under the Private Securities Litigation Reform Act of 1995
Statements in this release which 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, interest rates, 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. The Company intends its forward-looking statements to speak only
as of the time of such statements, and does not undertake to update or
revise them as more information becomes available.