Market Overview

Frutarom Shareholders Approve Transaction with IFF by a Majority of 94.6%


Regulatory News:

International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris:
IFF) and Frutarom Industries Ltd. (TASE: FRUT) (LSE: FRUTg) today
announced that Frutarom shareholders voted to approve the proposed
combination of Frutarom and IFF at the special general meeting of
Frutarom shareholders that was held yesterday. Of the votes cast at the
special general meeting, 94.6% percent were in favor of the proposed
merger, representing approximately 74.7% percent of all outstanding

"We are pleased that Frutarom shareholders have approved the combination
with IFF, marking another milestone on our path to unlock the value
creation potential of the combined company," said IFF Chairman and CEO,
Andreas Fibig. "Together, IFF and Frutarom will become a global leader
in taste, scent and nutrition, with a broader customer base, more
diversified product offerings and increased market penetration. Through
our integration planning work, we continue to be confident in the
opportunities that lie ahead and the ability of the combination to
accelerate profitable growth, enhance free cash flow and generate
greater returns for IFF shareholders."

Ori Yehudai, President and CEO of Frutarom, said, "We appreciate the
support from our shareholders as this transaction represents a landmark
moment for Frutarom, delivers significant and immediate cash value to
our shareholders and provides an opportunity to participate in the
substantial potential upside of the combination. We continue to work
closely with IFF's management team to ensure the successful completion
and integration of our two great companies, and we look forward to
driving growth by capitalizing on the best of both organizations."

Upon the closing of the transaction, Frutarom's shareholders will
receive for each Frutarom share $71.19 in cash and 0.249 of a share of
IFF common stock. The transaction remains subject to clearance by the
relevant regulatory authorities and other customary closing conditions,
and is expected to close in the fourth quarter of 2018.

On August 6, 2018, the final results of the voting for the merger
agreement and all related proposals was filed by Frutarom on the website
of the Tel Aviv Stock Exchange at:
and the publication website of the London Stock Exchange at:

About IFF

International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF)
is a leading innovator of sensorial experiences that move the world. At
the heart of our company, we are fueled by a sense of discovery,
constantly asking "what if?". That passion for exploration drives us to
co-create unique products that consumers taste, smell, or feel in fine
fragrances and beauty, detergents and household goods, as well as
beloved foods and beverages. Our 7,300 team members globally take
advantage of leading consumer insights, research and development,
creative expertise, and customer intimacy to develop differentiated
offerings for consumer products. Learn more at,
Twitter, Facebook, Instagram, and LinkedIn.

About Frutarom

Frutarom Industries Ltd. (LSE:FRUTg) (TASE:FRUT) is a leading global
company operating in the global flavors and natural fine ingredients
markets. Frutarom has significant production and development centers on
six continents and markets and sells over 70,000 products to more than
30,000 customers in over 150 countries. Frutarom's products are intended
mainly for the food and beverages, flavor and fragrance extracts,
pharmaceutical, nutraceutical, health food, functional food, food
additives and cosmetics industries.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. All
statements regarding IFF's or Frutarom's expected future financial
position, results of operations, cash flows, financing plans, business
strategy, budgets, capital expenditures, competitive positions, growth
opportunities, plans and objectives of management and statements
containing the words such as "anticipate," "approximate," "believe,"
"plan," "estimate," "expect," "project," "could," "should," "will,"
"intend," "may" and other similar expressions, are forward-looking
statements. Statements in this communication concerning IFF's or
Frutarom's business outlook or future economic performance, anticipated
profitability, revenues, expenses or other financial items, and product
or services line growth, together with other statements that are not
historical facts, are forward-looking statements that are estimates
reflecting management's best judgment based upon currently available
information. Such forward-looking statements are inherently uncertain,
and stockholders and other potential investors must recognize that
actual results may differ materially from expectations as a result of a
variety of factors, including, without limitation, those discussed
below. Such forward-looking statements are based upon management's
current expectations and include known and unknown risks, uncertainties
and other factors, many of which IFF and Frutarom are unable to predict
or control, that may cause IFF's or Frutarom's actual results,
performance or plans to differ materially from any future results,
performance or plans expressed or implied by such forward-looking
statements. These statements involve risks, uncertainties and other
factors discussed below and detailed from time to time in IFF's filings
with the Securities and Exchange Commission (the "SEC") and Frutarom's
filings with the Israeli Securities Authority.

Risks and uncertainties related to IFF's proposed acquisition of
Frutarom include, but are not limited to, the inability to obtain
required regulatory approvals for the acquisition, the timing of
obtaining such approvals and the risk that such approvals may result in
the imposition of conditions that could adversely affect the combined
company or the expected benefits of the acquisition, the risk that a
condition to closing of the acquisition may not be satisfied on a timely
basis or at all, the failure of the proposed transaction to close for
any other reason, uncertainties as to access to available financing
(including financing for the acquisition or refinancing of IFF or
Frutarom debt) on a timely basis and on reasonable terms, the impact of
IFF's proposed financing on its liquidity and flexibility to respond to
other business opportunities, whether the acquisition will have the
accretive effect on IFF's earnings or cash flows that it expects, the
inability to obtain, or delays in obtaining, cost savings and synergies
from the acquisition, costs and difficulties related to the integration
of Frutarom's businesses and operations with IFF businesses and
operations, unexpected costs, liabilities, charges or expenses resulting
from the acquisition, adverse effects on IFF's stock price resulting
from the acquisition, the inability to retain key personnel, and
potential adverse reactions, changes to business relationships or
competitive responses resulting from the acquisition.

In addition to the factors set forth above, other factors that may
affect IFF's plans, results or stock price are set forth in IFF's Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports
on Form 8-K. Other factors that may affect Frutarom's plans, results or
stock price are set forth in Frutarom's filings with the Israeli
Securities Authority.

Many of these factors are beyond IFF's and Frutarom's control and IFF
and Frutarom caution investors that any forward-looking statements made
by IFF or Frutarom are not guarantees of future performance. IFF and
Frutarom disclaim any obligation to update any such factors or to
announce publicly the results of any revisions to any of the
forward-looking statements to reflect future events or developments.

Important Additional Information and Where to Find It

This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities or a solicitation of any
vote or approval, nor shall there be any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any
such jurisdiction. In connection with the proposed merger, IFF has filed
with the SEC a registration statement on Form S-4 (File No. 333-225728),
including Amendment No. 1 thereto, that constitutes a prospectus of IFF
and attaches as an exhibit a proxy statement of Frutarom. The
registration statement was declared effective by the SEC on July 3,
2018, and IFF commenced mailing the definitive prospectus to Frutarom
shareholders of record on July 6, 2018. INVESTORS AND SECURITY HOLDERS
Investors and security holders are able to obtain free copies of the
registration statement and other documents filed with the SEC by the
parties through the website maintained by the SEC at
Copies of the documents filed with the SEC by IFF will be available free
of charge on IFF's internet website at

International Flavors & Fragrances Inc.
521 West 57th
New York, NY 10019

T +212.765.5500
F +212.708.7132

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