Prepared Foods July 6, 2004 enewsletter

Technology Flavors & Fragrances Inc. (TFF) announced it has entered into an agreement with two partners to form a Brazilian company to be engaged in the business of manufacturing, importing and exporting flavorings for the food and beverage industry. The newly formed company, AFF AROMAS do BRASIL COMERCIAL LTDA (AFF AROMAS) is owned 51% by TFF.

AFF AROMAS shall be headquartered in São Paulo, Brazil, where it will conduct sales, marketing and customer service activities. Construction is underway on a research and development and applications laboratory, and a manufacturing plant in Brazil's "free-trade zone" is scheduled to be operational by the end of 2004.

Commenting on this business venture, Philip Rosner, TFF's chairman and CEO, said, "This newly established business venture in Brazil significantly strengthens and expands our Latin American operations. Our contributed technology coupled with the close business relationships that our business partners have with Brazilian food and beverage manufacturers forms a very strong entity to service the needs of the expanding market in that region."