[Logo]
14100 NW 60 Avenue
Miami Lakes, Florida 33014
FOR IMMEDIATE RELEASE
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FFI Fragrances Reports Results From Special Shareholders Meeting
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Miami, Florida (January 4, 2001) -- FFI Fragrances (NASDAQ NM: FRAG),
a leading manufacturer and marketer of prestige fragrances and related
cosmetics and skincare products, announced today that at a special
meeting of its shareholders held on January 3, 2001, the Company's
shareholders approved the four proposals presented at the meeting. The
proposals approved consisted of (i) the potential issuance of common
stock in excess of 20% of the Company's outstanding common stock to
affiliates of the Unilever Group (NYSE: UN) in connection with the
Company's acquisition of the Elizabeth Arden and Elizabeth Taylor
cosmetics and fragrances businesses, (ii) an amendment to the
Company's Articles of Incorporation to change the name of the Company
to Elizabeth Arden, Inc., subject to consummation of the Arden
acquisition, (iii) the adoption of the Company's 2000 Stock Incentive
Plan, and (iv) the adoption of amendments to the Company's Non-
Employee Director Stock Option Plan.
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: The statements contained in this release which are not
historical facts are forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ
materially from those set forth in or implied by forward-looking
statements, including: the failure of the Company to obtain suitable
financing or to close the Arden acquisition; the Company's ability to
successfully and cost-effectively integrate the acquired businesses
and other acquired companies and new brands into the Company; the
Company's ability to retain employees from the acquired businesses;
the Company's ability to launch new products and implement its growth
strategy; risks of international operations; the substantial
indebtedness of the Company, including the indebtedness incurred in
connection with the acquisition; supply constraints or difficulties;
the impact of competitive products and pricing; changes in the retail
industry; the effect of business and economic conditions; and other
risks and uncertainties. More detailed information about these factors
is included from time to time in reports filed by the Company with the
Securities and Exchange Commission. Readers are cautioned not to place
undue reliance on forward-looking statements which speak only as of
the date hereof. The Company assumes no responsibility to update or
revise forward-looking statements contained herein to reflect events
or circumstances following the date hereof.
Company Contact: Joel B. Ronkin
(305) 818-8151
Investor Contact: Stacey Bibi/Shannon Froehlich/Natasha Boyden
Morgen-Walke Associates, New York
(212) 850-5600
Press Contact: Michael McMullan/Eileen King
Morgen-Walke Associates, New York
(212) 850-5600
