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F&C INTERNATIONAL ANNOUNCES FRAGRANCE DIVISION SALE

 CINCINNATI, July 21 /PRNewswire/ -- F&C International, Inc. (NASDAQ: FCIN) announced today that it has received Bankruptcy Court approval for the sale of its Fragrance Division to Technology Flavors & Fragrances, Inc. The United States Bankruptcy Court, for the Southern District of Ohio, Western Division, entered the Order on July 16, 1993, in accordance with the results of a hearing held July 15, 1993. At that hearing, Technology Flavors & Fragrances, Inc. was the successful bidder for the Fragrance Division.
 Technology Flavors & Fragrances, Inc. bid $4,700,000 for the assets of the Flavor Division other than inventory and equipment. Pursuant to the Agreement, Technology Flavors & Fragrances, Inc. will also purchase inventory and may purchase equipment used by F&C International, Inc. in its Fragrance Division.
 Frank R. Budetti, the representative of the estate and F&C International, Inc.'s chief executive officer, stated: "We were very happy with the results of the auction before Judge Aug. The company has attempted to market the Fragrance Division since prior to the bankruptcy, and the consummation of the sale of the Fragrance Division moves the company far along in its reorganization efforts."
 In unrelated news, the company announced the employment of Robert Failing as operations business manager. Failing brings 38 years of experience in food and flavor industry operations to the company. Previously, Failing was employed by General Foods. The company also announced the promotion of Stephen Graeme to chief operating officer. Graeme has 19 years experience in the flavor industry and most recently was v.p. sales and marketing for the U.S. Flavor Division of F&C International.
 F&C International is a creator and manufacturer of flavors used by producers in the food, beverage, tobacco, personal care, household, institutional and pharmaceutical industries to impart or improve flavor in a wide variety of consumer products.
 -0- 7/21/93
 /CONTACT: Frank R. Budetti of F&C International, 513-782-5017/
 (FCIN)


CO: F&C International ST: Ohio IN: CHM SU: TNM PER

KL -- CL019 -- 3936 07/21/93 12:21 EDT
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Date:Jul 21, 1993
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