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Attached and incorporated herein by reference and being furnished hereby as Exhibit 99.1 is a copy of a press release
of International Flavors & Fragrances Inc. (“IFF”) dated July 24, 2003,
reporting IFF’s financial results for the second quarter and six months ended June 30, 2003.
The discussion of the
Company’s historical results and its commentary regarding expected future results
include and, where indicated, exclude the impact of sales attributable to certain non-core
businesses disposed of in 2002, the impact of certain charges and the effects of
exchange rate fluctuations. Such information is supplemental to information presented in
accordance with generally accepted accounting principles (GAAP) and is not intended to
represent a presentation in accordance with GAAP. In discussing its historical and
expected future results and financial condition, the Company believes it is meaningful for
investors to be made aware of and to be assisted in a better understanding of, on a period-to-period basis, the
impact of sales attributable to certain non-core businesses disposed of in 2002, the impact of exchange
rate fluctuations and the impact such specifically identified charges have on
results and financial condition.
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