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Bestfoods (BFO)

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Wednesday 19 April, 2000

Bestfoods

Acquisition of Egyptian Company El Rashidi

Bestfoods
18 April 2000



Contact:   Thomas DiPiazza   (201) 894-2556
           Corporate Communications Manager


           BESTFOODS ENTERS EGYPT WITH ACQUISITION OF EL RASHIDI

ENGLEWOOD CLIFFS, NJ, April 18, 2000 - Strengthening its position in the
emerging markets of the Middle East, Bestfoods has entered Egypt by acquiring a
majority interest in El Rashidi El Mizan Confectionery Factories S.A.E., a
fast-growing maker of sesame-based products with annual sales of more than $30
million.

El Rashidi El Mizan brand sesame products, such as tahina paste and halawa
sweets, are market leaders.  The acquisition provides a portfolio of products
that has been growing at double-digit rates over the past several years and also
offers a platform for launching Bestfoods' products into the region's third
largest economy. Bestfoods already has fast-growing operations in Israel and
Turkey, the area's two biggest economies, as well as Jordan and Saudi Arabia.

'Acquisitions and geographic expansion, along with development of our existing
core businesses, are key elements of our growth strategy,' said C.R. Sheomatc,
Bestfoods chairman and chief executive officer. 'Bestfoods' current operations
in nine countries of the Middle East and Africa generated sales of more than
$450 million in 1999.  Egypt, with a population of 61 million, has one of the
strongest economies in the region and a promising future. By entering the market
through this acquisition, Bestfoods hits the ground running. El Rashidi El
Mizan's strong local management team and extensive sales and distribution
network allow us to drive continuing strong growth in the existing business and
to quickly establish Bestfoods' brands, beginning with Knorr and Mazola.'

Bestfoods acquired 51 percent of the company through an agreement signed April
12. It has an option to acquire an additional 35% ownership in 2002.

The acquisition is the 21st made by Bestfoods since 1995.  Egypt represents the
65th country where Bestfoods has operations. Some 35% of Bestfoods' sales come
from emerging markets in Latin America, Asia, Central and Eastern Europe,
Africa, and the Middle East.

To provide the clearest possible description of our business and outlook, this
release contains forward-looking statements based on our best current
information and reasonable assumptions about anticipated developments. 
Statements including such words as 'expects', 'anticipates', 'intends', 'plans',
'believes', 'estimates' and other similar expressions are intended to identify
such forward-looking statements.  Because of the risks and uncertainties that
always exist in any operating environment of business, we cannot make assurances
that these expectations will prove correct.  Actual results and developments may
differ materially depending upon currency values, competitive pricing,
consumption levels, costs and political and social conditions in the economies
and environments where Bestfoods operates.

ABOUT BESTFOODS:  Bestfoods, formerly CPC International Inc., is among the
largest U.S. food companies, with sales of $8.6 billion in 1999.  Best know
among Bestfoods' U.S. products are: Hellmann's and Best Foods mayonnaise and
dressings; Mazola corn oil; Skippy peanut butter; Knorr soups, sauces, and
bouillons; Entenmann's sweet baked products; Thomans' English muffins; Arnold,
Brownberry, Freihofer's and Oroweal breads; Boboli pizza crusts; Mueller's
pasta; and Karo syrup.  Bestfoods' global Knorr brand comprises one of the
world's most extensive lines of products.  Bestfoods is the most international
food company based in the U.S., with operations in more than 60 countries and
products marketed in 110 countries.  For more information about Bestfoods, visit
the company's website on the Internet at: http//www.bestfoods.com.



                                                                                                                                                                                                         

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