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JEAN PHILIPPE FRAGRANCES REPORTS RECORD 1991 RESULTS; SALES INCREASE 34 PERCENT, NET INCOME INCREASES 46 PERCENT

 JEAN PHILIPPE FRAGRANCES REPORTS RECORD 1991 RESULTS;
 SALES INCREASE 34 PERCENT, NET INCOME INCREASES 46 PERCENT
 NEW YORK, March 31 /PRNewswire/ -- Jean Philippe Fragrances, Inc. (NASDAQ-NMS: JEAN) reported today its first year end consolidated financial statements which reflect the acquisition of its French subsidiary, Inter Parfums S.A. All results are reported as if the acquisition had taken place on Jan. 1, 1990.
 For fiscal year ended Dec. 31, 1991, sales increased to $25,465,092 from $19,011,182 in 1990, an increase of 34 percent. Net income for 1991 rose to $1,862,215 from $1,273,062 in 1990, an increase of 46 percent.
 Net sales for the 1991 fourth quarter rose approximately 42 percent to $7,959,751 from $5,601,889 for the prior year. Net income for the period was $648,115 compared to $431,573 for the same quarter in 1990, an increase of 50 percent.
 In announcing 1991 results, Jean Madar, president of Jean Philippe Fragrances, stated:
 "1991, despite the sluggish economy, proved to be an excellent year for the company.
 "Our philosophy of value, reflected in high quality products at very affordable prices together with a global approach saw Jean Philippe acquire its French affiliate, Inter Parfums, resulted in record sales and earnings.
 "Jordache fragrances and cosmetics have continued to increase market penetration among mass market merchandisers and drug store chains.
 "Based on orders already received, the preliminary results of the first quarter of 1992 and the tremendous success of new products recently introduced to the market, management anticipates 1992 sales and earnings to greatly exceed those of 1991."
 JEAN PHILIPPE FRAGRANCES, INC.
 Financial Highlights
 Periods Ended Year Three Months
 Dec. 31 1991 1990 1991 1990
 Net sales $25,465,092 $19,011,182 $7,959,751 $5,601,889
 Expenses 22,270,941 16,423,204 6,827,781 4,785,107
 Net income 1,862,215 1,273,062 648,115 431,573
 Common and common
 equivalent shares
 outstanding 4,680,066 4,120,517 5,689,214 4,426,787
 Earnings per share,
 fully diluted $0.40 $0.31 $0.11 $0.10
 -0- 3/31/92
 /CONTACT: Neil Fogel of Jean Philippe Fragrances, 212-983-2640/
 (JEAN) CO: Jean Philippe Fragrances, Inc. ST: New York IN: REA SU: ERN


SM-PS -- NY006 -- 3282 03/31/92 09:46 EST
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Date:Mar 31, 1992
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