CPC INTERNATIONAL INCREASES DIVIDEND ON COMMON STOCK 7.9%.

ENGLEWOOD CLIFFS, N.J.--(BUSINESS WIRE)--Sept. 17, 1996--The Board of Directors of CPC International Inc. today increased the quarterly dividend on the company's common stock by 7.9% to $.41 per share from $.38 per share, payable October 25, 1996, to shareholders of record on September 30, 1996. The company last increased the dividend in September 1995.

This will be CPC International's 307th consecutive quarterly dividend.

ABOUT CPC INTERNATIONAL: CPC International Inc. is among the largest U.S. food companies and ranks as one of the 100 largest industrial companies in the U.S., with annualized sales of about $10 billion. Best known among CPC's U.S. products are: Hellmann's and Best Foods mayonnaise; Mazola corn oil and margarine; Skippy peanut butter; Knorr soups, sauces, and bouillons; Entenmann's sweet baked products; Thomas' English muffins; Arnold, Brownberry, Freihofer's, and Oroweat breads; Boboli Italian bread shells; Mueller's pasta; and Karo syrup. CPC's global Knorr brand comprises one of the world's most extensive lines of products. CPC is one of the nation's most international food companies, with operations in 63 countries. CPC is also one of the largest corn refiners, with operations in North America and Latin America.

CONTACT: Media

Thomas DiPiazza, Corporate

Communications Manager [phone].

or

Analyst

John W. Scott,

V.P. Investor Relations [phone].