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JEAN PHILIPPE FRAGRANCES SIGNS THREE SIGNIFICANT DISTRIBUTION AGREEMENTS COVERING MEXICO, BRAZIL AND ARGENTINA

JEAN PHILIPPE FRAGRANCES SIGNS THREE SIGNIFICANT DISTRIBUTION AGREEMENTS
 COVERING MEXICO, BRAZIL AND ARGENTINA
 NEW YORK, April 23 /PRNewswire/ -- Jean Philippe Fragrances, Inc. (NASDAQ-NMS: JEAN), announced today the signing of three significant distribution contracts for its Jordache fragrance line and alternative designer fragrances covering the territories of Mexico, Brazil and Argentina.
 The agreements require sales of $12 million in order for the foreign distributors to maintain their exclusive distribution rights. Jean Philippe has received initial orders aggregating $1 million, and anticipates shipping approximately $2.5 million in the third and fourth quarters of fiscal year 1992, approximately $6 million in fiscal year 1993 and the balance in fiscal year 1994.
 Jean Madar, president of Jean Philippe, said, "We are very pleased to open up these new markets in South America, with its population of approximately 250 million people. We believe that our Jordache fragrance line and alternative designer fragrances offer real value to the consumer, and hope for continued market penetration as well as expansion into additional foreign countries."
 Madar continued: "We anticipate a record first quarter performance in sales and earnings, and are comfortable with analysts' estimates of a 57 percent increase in sales to $40 million and earnings of $.60 per share for 1992."
 For the fiscal year ended Dec. 31, 1991, Jean Philippe reported sales of $25 million and earnings of $.40 per share.
 -0- 4/23/92
 /CONTACT: Neil Fogel of Jean Philippe Fragrances, 212-983-2640/
 (JEAN) CO: Jean Philippe Fragrances, Inc. ST: New York IN: HOU SU: CON


GK-OS -- NY049 -- 1764 04/23/92 10:36 EDT
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Publication:PR Newswire
Date:Apr 23, 1992
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