SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                  ____________

                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


Date of report (Date of earliest event reported)            August 7, 2007
                                                    ---------------------------


                     INTERNATIONAL FLAVORS & FRAGRANCES INC.
-------------------------------------------------------------------------------
               (Exact Name of Registrant as Specified in Charter)


         New York                     1-4858                    13-1432060
-------------------------------------------------------------------------------
(State or Other Jurisdiction       (Commission                (I.R.S. Employer
  of Incorporation)                 File Number)             Identification No.)


521 West 57th Street, New York, New York                           10019
-------------------------------------------------------------------------------
(Address of Principal Executive Offices)                         (Zip Code)


Registrant's telephone number, including area code             (212) 765-5500
                                                    ---------------------------

     Check the  appropriate  box below if the Form 8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

     |_| Written communications pursuant to Rule 425 under the Securities Act
         (17 CFR 230.425)

     |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
         (17 CFR 240.14a-12)

     |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
         Exchange Act (17 CFR 240.14d-2(b))

     |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
         Exchange Act (17 CFR 240.13e-4(c))

<PAGE>

Item 2.02. Results of Operations and Financial Condition

Attached and being furnished hereby as Exhibit 99.1 is a copy of a press release
of International Flavors & Fragrances Inc. ("IFF" or the "Company") dated August
7, 2007 reporting IFF's financial  results for the second quarter ended June 30,
2007.

Non-GAAP  financial  measures:  To supplement  the Company's  financial  results
presented in  accordance  with U.S.  Generally  Accepted  Accounting  Principles
("GAAP"),  the Company  uses,  and has included in the attached  press  release,
certain non-GAAP  financial  measures.  These non-GAAP financial measures should
not be  considered  in  isolation,  or as a  substitute  for,  or  superior  to,
financial measures  calculated in accordance with GAAP. These non-GAAP financial
measures as disclosed  by the Company may also be  calculated  differently  from
similar measures disclosed by other companies. To ease the use and understanding
of our supplemental  non-GAAP financial measures,  the Company includes the most
directly comparable GAAP financial measure.

The Company uses the non-GAAP financial measure which excludes the effect of the
benefit of a tax ruling in the 2007  second  quarter  relating  to prior  years.
Management  believes  that  given  the  unique  nature of this  item,  including
information without the impact of this tax benefit is more representative of the
Company's  operational  performance  and  effective  tax  rate  and  may  assist
investors in evaluating the Company's period to period financial  results,  in a
manner  consistent with how management  evaluates such  performance.  A material
limitation of this financial measure is that this tax benefit reflects an actual
accounting [and cash] benefit being realized and does not reflect an actual GAAP
amount.  Management  compensates  for such  limitation by  clarifying  that this
measure is only one operating metric and is used for internal financial analysis
and  planning  purposes  and  should  not be  considered  in  isolation,  and by
providing the corresponding GAAP financial measure.

The Company  also  discloses,  and  management  internally  monitors,  the sales
performance of international  operations on a basis that eliminates the positive
or negative  effects that result from  translating  foreign  currency sales into
U.S.  dollars.  Management uses this constant dollar measure because it believes
that it enhances the assessment of the sales  performance  of its  international
operations and the comparability between reporting periods.

The Company uses the non-GAAP financial measure which excludes (i) restructuring
charges and (ii) one-time  gains on asset  dispositions.  Management  uses these
financial  measures  in  preparing  financial  targets,   internal  budgets  and
operating  plans,  evaluating  actual  performance  against  targets and budget,
assessing  historical  performance over reporting periods,  assessing management
performance and assessing operating  performance  against other companies.  This
information  also aids management and the Board of Directors in  decision-making
and allocation of resources.  A material  limitation of these financial measures
is that some or all of such  special  charges  include  actual cash  outlays and
one-time  gains  include  actual  cash  inflow and such  measures do not reflect
actual GAAP amounts.  Management  compensates for such limitations by clarifying
that these  measures are only one operating  metric used for internal  financial
analysis and planning purposes and should not be considered in isolation, and by
providing the corresponding GAAP financial measure.
<PAGE>

The Company also uses the non-GAAP  financial  measure which excludes the effect
in 2005 of the American  Jobs Creation Act of 2004 (AJCA).  Management  believes
that given the unique nature of this item,  including this  information  without
the impact of  repatriation in the prior year period is more  representative  of
the  Company's  operational  performance  and  effective tax rate and may assist
investors in evaluating the Company's period to period financial  results,  in a
manner consistent with how management has evaluated such performance.

Item 9.01.  Financial Statements and Exhibits.

(d)      Exhibits

         99.1    Press Release of International Flavors & Fragrances Inc., dated
                 August 7, 2007.

<PAGE>

                                    SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                       INTERNATIONAL FLAVORS & FRAGRANCES INC.


Dated: August 7, 2007                  By:  /s/ Douglas J. Wetmore
                                       ----------------------------
                                       Name:    Douglas J. Wetmore
                                       Title:   Senior Vice President and
                                                Chief Financial Officer


<PAGE>

                                                            Exhibit 99.1


                                                      FOR IMMEDIATE RELEASE



                 IFF REPORTS RECORD SECOND QUARTER 2007 RESULTS


New York, August 7, 2007 - International  Flavors & Fragrances Inc. (NYSE: IFF),
a leading global  creator of flavors and  fragrances,  today reported  growth in
sales and net  income for the second  quarter of 2007.  Earnings  per share were
$.87 in the quarter,  representing a 30 percent increase from the second quarter
of 2006.  The second  quarter  included the benefit of a tax ruling  relating to
prior years; as a result,  accrued tax liabilities were reduced,  increasing net
income  and  earnings  per  share  in the  quarter  by  $10  million  and  $.11,
respectively.  On a comparable  basis,  excluding this tax adjustment,  the 2007
second  quarter  earnings  per share  would  have been $.76,  representing  a 13
percent gain over the 2006 quarter.

"We are  pleased  with the  continued  growth in  sales,  operating  profit  and
earnings.  During this second  quarter,  we made  progress  against our business
priorities,  which  include  focusing on our  customers  and building a stronger
organization," said Robert M. Amen, Chairman and Chief Executive Officer of IFF.

"Looking  ahead, we believe we are  well-positioned  to continue to grow in line
with  our  goals.  Our  recent  share   repurchase  and  dividend   announcement
underscores our confidence in our ability to build  shareholder value and invest
for our growth."

Sales rose 8 percent in the second  quarter  to $574  million  compared  to $531
million in the prior year period. Sales benefited from the generally weaker U.S.
dollar,  mainly  against the Euro and Pound  Sterling;  at  comparable  exchange
rates, sales would have increased 5 percent over the 2006 quarter.

Flavor sales grew 11 percent,  due to new wins and volume  growth.  Flavor
sales increased in each region, both in local currency and dollars.

Fragrance sales increased 6 percent,  led by 11 percent growth in fine fragrance
and  beauty  care  sales,  as a  result  of new  product  introductions  and the
continued  success of existing  creations.  Functional  fragrance and ingredient
sales increased 4 percent and 1 percent, respectively.

<PAGE>

Second Quarter 2007 Highlights
------------------------------

   - Gross profit,  as a percentage  of sales,  totaled  42.9%,  the same as the
     prior year quarter.  The sales growth drove  improved  expense  absorption,
     most notably in flavors; lower selling prices for fragrance ingredients and
     the  impact  of  scaling  up  production  in the new  fragrance  ingredient
     facility in China offset this improvement.
   - Selling and Administrative  expenses,  as a percentage of sales, were 15.9%
     in the  current  quarter  compared  to 16.5%  in the  prior  year  quarter,
     reflecting good cost control.
   - Interest expense increased by $2 million from the prior year, primarily due
     to higher average  interest rates on borrowings;  the average interest rate
     for the second quarter was 4.2% compared to 3.3% for the 2006 quarter.
   - The effective tax rate for the quarter was 19% compared to 28% in the prior
     year  quarter,  reflecting  the  above  tax  ruling  benefit.  The tax rate
     benefited  by 11  percentage  points  resulting  from the  reversal  of $10
     million of previously  established tax accruals no longer required based on
     rulings obtained from applicable tax jurisdictions.

About International Flavors & Fragrances Inc.
---------------------------------------------

IFF is a leading  creator of flavors and  fragrances  used in a wide  variety of
consumer products and packaged goods.  Consumers  experience these unique scents
and tastes in fine fragrances and beauty care,  detergents and household  goods,
as well as beverages, confectionary and food products. The Company leverages its
competitive advantages of brand understanding and consumer insight combined with
its  focus on R&D and  innovation,  to  provide  customers  with  differentiated
product offerings.  A member of the S&P 500 Index, IFF has sales,  manufacturing
and creative facilities in 30 countries worldwide. For more information,  please
visit our Web site at www.iff.com.

Audio Web Cast
--------------

An audio Web cast,  to discuss  the  Company's  second  quarter  2007  financial
results and outlook, will be held today at 10:00 a.m. ET. Interested parties can
access the Web cast and  accompanying  slide  presentation  on the Company's Web
site at www.iff.com,  under the Investor Relations section.  For those unable to
listen to the live  broadcast,  a replay will be available on the  Company's Web
site approximately one hour after the event and will remain available on the IFF
Web site until 11:59 p.m. on August 21, 2007.

Cautionary Statement Under The Private Securities Litigation Reform Act of 1995
-------------------------------------------------------------------------------

Statements in this report,  which are not historical  facts or information,  are
"forward-looking  statements"  within  the  meaning  of The  Private  Securities
Litigation  Reform Act of 1995.  Such  forward-looking  statements  are based on
management's  current assumptions,  estimates and expectations.  Certain of such
forward-looking  information  may be  identified  by  such  terms  as  "expect",
"believe",  "outlook,"  "guidance,"  "may,"  and  similar  terms  or  variations
thereof.  All information  concerning  future  revenues,  tax rates or benefits,
interest  savings,  earnings  and other  future  financial  results or financial
position,   constitutes   forward-looking   information.   Such  forward-looking
statements involve  significant risks,  uncertainties and other factors.  Actual
results of the Company may differ  materially from any future results  expressed
<PAGE>
or implied by such  forward-looking  statements.  Such  factors  include,  among
others, the following: general economic and business conditions in the Company's
markets,  including  economic,  population  health and political  uncertainties;
interest  rates;  the price,  quality and  availability  of raw  materials;  the
Company's ability to implement its business strategy,  including the achievement
of anticipated  cost savings,  profitability  and growth targets;  the impact on
cash and the impact of increased  borrowings  related to the July 2007 announced
share repurchase program;  the impact of currency  fluctuation or devaluation in
the Company's principal foreign markets and the success of the Company's hedging
and  risk  management  strategies;  the  outcome  of  uncertainties  related  to
litigation;  uncertainties  related  to  any  potential  claims  and  rights  of
indemnification  or other  recovery for  customer  and consumer  reaction to its
earlier  contamination issue; the impact of possible pension funding obligations
and  increased  pension  expense  on the  Company's  cash  flow and  results  of
operations;  and the  effect of legal  and  regulatory  proceedings,  as well as
restrictions  imposed on the Company,  its operations or its  representatives by
foreign governments. The Company intends its forward-looking statements to speak
only as of the time of such  statements and does not undertake or plan to update
or revise them as more  information  becomes  available or to reflect changes in
expectations, assumptions or results.

Any public  statements or  disclosures by IFF following this release that modify
or impact any of the outlook or other forward-looking statements contained in or
accompanying  this release or as part of the webcast will be deemed to modify or
supersede such outlook or other  forward-looking  statements in or  accompanying
this release or the webcast.





Investor Contact:  Yvette Rudich
Director of Corporate Communications
212-708-7164

Media Contact:  Melissa Sachs
Manager, Corporate Communications
212-708-7278

<PAGE>


                     International Flavors & Fragrances Inc.

                          Consolidated Income Statement

                  (Amounts in thousands except per share data)

                                   (Unaudited)

<TABLE>
<CAPTION>

                                                Quarter Ended                              Six Months Ended
                                                   June 30,                                    June 30,
                                     -------------------------------------      ---------------------------------------
                                        2006           2007      % Change           2006            2007      % Change
                                     ----------      ---------  ----------      -----------     -----------   ---------
<S>                                      <C>            <C>         <C>             <C>              <C>        <C>
Net sales                             $530,505        $573,726      8%           $1,041,937      $1,139,827      9%
Cost of goods sold                     302,889         327,668      8%              597,707         657,050     10%
                                     ----------      ---------                  -----------     -----------
Gross margin on sales                  227,616         246,058      8%              444,230         482,777      9%
Research & development                  45,588          48,760      7%               91,190          95,392      5%
Selling and administrative              87,684          91,198      4%              173,272         182,469      5%
Amortization                             3,711           3,555     -4%                7,421           7,111     -4%
Restructuring and other charges           (304)              -                          357               -
Interest expense                         6,300           8,396     33%               11,673          16,710     43%
Other expense (income), net               (286)         (2,819)                         153          (2,986)
                                     ----------      ---------                  -----------     -----------
Pretax income                           84,923          96,968     14%              160,164         184,081     15%
Income taxes                            23,741          18,596    -22%               45,292          43,020     -5%
                                     ----------      ---------                  -----------     -----------
Net income                             $61,182         $78,372     28%             $114,872        $141,061     23%
                                     ==========      =========                  ===========     ===========

Earnings per share - basic               $0.67           $0.88     31%                $1.26           $1.58     25%
Earnings per share - diluted             $0.67           $0.87     30%                $1.25           $1.56     25%

Average shares outstanding
--------------------------
(in thousands):
-------------
Basic                                   90,869          89,174     -2%               91,202          89,276     -2%
Diluted                                 91,787          90,124     -2%               91,997          90,391     -2%
</TABLE>

<PAGE>
                     International Flavors & Fragrances Inc.

                      Consolidated Condensed Balance Sheet

                             (Amounts in thousands)

                                   (Unaudited)
<TABLE>
<CAPTION>

                                                    December 31,         June 30,
                                                        2006               2007
                                                   -------------      --------------
<S>                                                     <C>                 <C>
Cash & cash equivalents                           $   114,508         $   124,171
Short term investments                                    604                 583
Receivables                                           405,302             479,360
Inventories                                           446,606             454,737
Other current assets                                  112,783              95,465
                                                  ------------        ------------
   Total current assets                             1,079,803           1,154,316

Property, plant and equipment, net                    495,124             482,861
Goodwill and other intangibles, net                   745,716             738,605
Other assets                                          158,261             171,206
                                                  ------------        ------------
Total assets                                      $ 2,478,904         $ 2,546,988
                                                  ============        ============

Bank borrowings, overdrafts
  and current portion of long-term debt              $ 15,897            $ 18,982
Other current liabilities                             430,874             332,965
                                                  ------------        ------------
   Total current liabilities                          446,771             351,947

Long-term debt                                        791,443             785,774
Non-current liabilities                               335,522             414,611

Shareholders' equity                                  905,168             994,656
                                                  ------------        ------------
Total liabilities and shareholders' equity        $ 2,478,904         $ 2,546,988
                                                  ============        ============
</TABLE>

<PAGE>



                     International Flavors & Fragrances Inc.

                      Consolidated Statement of Cash Flows

                             (Amounts in thousands)

                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                        June 30,          June 30,
                                                                          2006              2007
                                                                     --------------- ---------------
<S>                                                                       <C>                <C>
Cash flows from operating activities:
Net income                                                              $114,872         $141,061
Adjustments to reconcile to net cash provided by operations:
     Depreciation and amortization                                        44,602           42,287
     Deferred income taxes                                                   329            4,629
     Gain on disposal of assets                                           (3,881)          (6,737)
     Equity based compensation                                             8,094            8,248
     Changes in assets and liabilities
         Current receivables                                             (60,327)         (54,058)
         Inventories                                                       1,163           (1,258)
         Current payables                                                 (2,336)         (38,535)
         Changes in other assets                                          16,358            2,361
         Changes in other liabilities                                      1,886            1,836
                                                                     --------------- ---------------
Net cash provided by operations                                          120,760           99,834
                                                                     --------------- ---------------

Cash flows from investing activities:
     Net change in short-term investments                                     25             (311)
     Additions to property, plant and equipment                          (19,806)         (21,331)
     Proceeds from disposal of assets                                      6,504            8,751
                                                                     --------------- ---------------
Net cash used in investing activities                                    (13,277)         (12,891)
                                                                     --------------- ---------------

Cash flows from financing activities:
     Cash dividends paid to shareholders                                 (33,990)         (37,230)
     Net change in bank borrowings and overdrafts                        (32,508)            (496)
     Net change in commercial paper outstanding                          281,521                -
     Repayments of long-term debt                                       (499,306)               -
     Proceeds from issuance of stock under stock-based
      compensation plans                                                  23,146           36,461
     Excess tax benefits on stock options exercised                          205            3,914
     Purchase of treasury stock                                          (91,315)         (80,711)
                                                                     --------------- ---------------
Net cash used in financing activities                                   (352,247)         (78,062)
                                                                     --------------- ---------------

Effect of exchange rates changes on cash and cash equivalents              2,052              782

Net change in cash and cash equivalents                                 (242,712)           9,663

Cash and cash equivalents at beginning of year                           272,545          114,508

                                                                     --------------- ---------------
Cash and cash equivalents at end of period                               $29,833         $124,171
                                                                     =============== ===============
</TABLE>
[{"type": "8-K", "sequence": "1", "filename": "a8k08062007.txt", "secsgml_size_bytes": 25528}]
{"company-data": {"conformed-name": "INTERNATIONAL FLAVORS & FRAGRANCES INC", "cik": "0000051253", "assigned-sic": "2860", "irs-number": "131432060", "state-of-incorporation": "NY", "fiscal-year-end": "1207"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-04858", "film-number": "071029247"}, "business-address": {"street1": "521 W 57TH ST", "city": "NEW YORK", "state": "NY", "zip": "10019", "phone": "2127655500"}, "mail-address": {"street1": "521 W 57TH ST", "city": "NEW YORK", "state": "NY", "zip": "10019"}, "former-company": {"former-conformed-name": "VANAMERIGEN HAEBLER INC", "date-changed": "19680426"}}
SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                  ____________

                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported)            August 7, 2007
                                                    ---------------------------

                     INTERNATIONAL FLAVORS & FRAGRANCES INC.
-------------------------------------------------------------------------------
               (Exact Name of Registrant as Specified in Charter)

         New York                     1-4858                    13-1432060
-------------------------------------------------------------------------------
(State or Other Jurisdiction       (Commission                (I.R.S. Employer
  of Incorporation)                 File Number)             Identification No.)

521 West 57th Street, New York, New York                           10019
-------------------------------------------------------------------------------
(Address of Principal Executive Offices)                         (Zip Code)

Registrant's telephone number, including area code             (212) 765-5500
                                                    ---------------------------

     Check the  appropriate  box below if the Form 8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

     |_| Written communications pursuant to Rule 425 under the Securities Act
         (17 CFR 230.425)

     |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
         (17 CFR 240.14a-12)

     |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
         Exchange Act (17 CFR 240.14d-2(b))

     |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
         Exchange Act (17 CFR 240.13e-4(c))
Item 2.02. Results of Operations and Financial Condition

Attached and being furnished hereby as Exhibit 99.1 is a copy of a press release
of International Flavors & Fragrances Inc. ("IFF" or the "Company") dated August
7, 2007 reporting IFF's financial  results for the second quarter ended June 30,
2007.

Non-GAAP  financial  measures:  To supplement  the Company's  financial  results
presented in  accordance  with U.S.  Generally  Accepted  Accounting  Principles
("GAAP"),  the Company  uses,  and has included in the attached  press  release,
certain non-GAAP  financial  measures.  These non-GAAP financial measures should
not be  considered  in  isolation,  or as a  substitute  for,  or  superior  to,
financial measures  calculated in accordance with GAAP. These non-GAAP financial
measures as disclosed  by the Company may also be  calculated  differently  from
similar measures disclosed by other companies. To ease the use and understanding
of our supplemental  non-GAAP financial measures,  the Company includes the most
directly comparable GAAP financial measure.

The Company uses the non-GAAP financial measure which excludes the effect of the
benefit of a tax ruling in the 2007  second  quarter  relating  to prior  years.
Management  believes  that  given  the  unique  nature of this  item,  including
information without the impact of this tax benefit is more representative of the
Company's  operational  performance  and  effective  tax  rate  and  may  assist
investors in evaluating the Company's period to period financial  results,  in a
manner  consistent with how management  evaluates such  performance.  A material
limitation of this financial measure is that this tax benefit reflects an actual
accounting [and cash] benefit being realized and does not reflect an actual GAAP
amount.  Management  compensates  for such  limitation by  clarifying  that this
measure is only one operating metric and is used for internal financial analysis
and  planning  purposes  and  should  not be  considered  in  isolation,  and by
providing the corresponding GAAP financial measure.

The Company  also  discloses,  and  management  internally  monitors,  the sales
performance of international  operations on a basis that eliminates the positive
or negative  effects that result from  translating  foreign  currency sales into
U.S.  dollars.  Management uses this constant dollar measure because it believes
that it enhances the assessment of the sales  performance  of its  international
operations and the comparability between reporting periods.

The Company uses the non-GAAP financial measure which excludes (i) restructuring
charges and (ii) one-time  gains on asset  dispositions.  Management  uses these
financial  measures  in  preparing  financial  targets,   internal  budgets  and
operating  plans,  evaluating  actual  performance  against  targets and budget,
assessing  historical  performance over reporting periods,  assessing management
performance and assessing operating  performance  against other companies.  This
information  also aids management and the Board of Directors in  decision-making
and allocation of resources.  A material  limitation of these financial measures
is that some or all of such  special  charges  include  actual cash  outlays and
one-time  gains  include  actual  cash  inflow and such  measures do not reflect
actual GAAP amounts.  Management  compensates for such limitations by clarifying
that these  measures are only one operating  metric used for internal  financial
analysis and planning purposes and should not be considered in isolation, and by
providing the corresponding GAAP financial measure.
The Company also uses the non-GAAP  financial  measure which excludes the effect
in 2005 of the American  Jobs Creation Act of 2004 (AJCA).  Management  believes
that given the unique nature of this item,  including this  information  without
the impact of  repatriation in the prior year period is more  representative  of
the  Company's  operational  performance  and  effective tax rate and may assist
investors in evaluating the Company's period to period financial  results,  in a
manner consistent with how management has evaluated such performance.

Item 9.01.  Financial Statements and Exhibits.

(d)      Exhibits

         99.1    Press Release of International Flavors & Fragrances Inc., dated
                 August 7, 2007.
SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                       INTERNATIONAL FLAVORS & FRAGRANCES INC.

Dated: August 7, 2007                  By:  /s/ Douglas J. Wetmore
                                       ----------------------------
                                       Name:    Douglas J. Wetmore
                                       Title:   Senior Vice President and
                                                Chief Financial Officer
Exhibit 99.1

                                                      FOR IMMEDIATE RELEASE

                 IFF REPORTS RECORD SECOND QUARTER 2007 RESULTS

New York, August 7, 2007 - International  Flavors & Fragrances Inc. (NYSE: IFF),
a leading global  creator of flavors and  fragrances,  today reported  growth in
sales and net  income for the second  quarter of 2007.  Earnings  per share were
$.87 in the quarter,  representing a 30 percent increase from the second quarter
of 2006.  The second  quarter  included the benefit of a tax ruling  relating to
prior years; as a result,  accrued tax liabilities were reduced,  increasing net
income  and  earnings  per  share  in the  quarter  by  $10  million  and  $.11,
respectively.  On a comparable  basis,  excluding this tax adjustment,  the 2007
second  quarter  earnings  per share  would  have been $.76,  representing  a 13
percent gain over the 2006 quarter.

"We are  pleased  with the  continued  growth in  sales,  operating  profit  and
earnings.  During this second  quarter,  we made  progress  against our business
priorities,  which  include  focusing on our  customers  and building a stronger
organization," said Robert M. Amen, Chairman and Chief Executive Officer of IFF.

"Looking  ahead, we believe we are  well-positioned  to continue to grow in line
with  our  goals.  Our  recent  share   repurchase  and  dividend   announcement
underscores our confidence in our ability to build  shareholder value and invest
for our growth."

Sales rose 8 percent in the second  quarter  to $574  million  compared  to $531
million in the prior year period. Sales benefited from the generally weaker U.S.
dollar,  mainly  against the Euro and Pound  Sterling;  at  comparable  exchange
rates, sales would have increased 5 percent over the 2006 quarter.

Flavor sales grew 11 percent,  due to new wins and volume  growth.  Flavor
sales increased in each region, both in local currency and dollars.

Fragrance sales increased 6 percent,  led by 11 percent growth in fine fragrance
and  beauty  care  sales,  as a  result  of new  product  introductions  and the
continued  success of existing  creations.  Functional  fragrance and ingredient
sales increased 4 percent and 1 percent, respectively.
Second Quarter 2007 Highlights
------------------------------

   - Gross profit,  as a percentage  of sales,  totaled  42.9%,  the same as the
     prior year quarter.  The sales growth drove  improved  expense  absorption,
     most notably in flavors; lower selling prices for fragrance ingredients and
     the  impact  of  scaling  up  production  in the new  fragrance  ingredient
     facility in China offset this improvement.
   - Selling and Administrative  expenses,  as a percentage of sales, were 15.9%
     in the  current  quarter  compared  to 16.5%  in the  prior  year  quarter,
     reflecting good cost control.
   - Interest expense increased by $2 million from the prior year, primarily due
     to higher average  interest rates on borrowings;  the average interest rate
     for the second quarter was 4.2% compared to 3.3% for the 2006 quarter.
   - The effective tax rate for the quarter was 19% compared to 28% in the prior
     year  quarter,  reflecting  the  above  tax  ruling  benefit.  The tax rate
     benefited  by 11  percentage  points  resulting  from the  reversal  of $10
     million of previously  established tax accruals no longer required based on
     rulings obtained from applicable tax jurisdictions.

About International Flavors & Fragrances Inc.
---------------------------------------------

IFF is a leading  creator of flavors and  fragrances  used in a wide  variety of
consumer products and packaged goods.  Consumers  experience these unique scents
and tastes in fine fragrances and beauty care,  detergents and household  goods,
as well as beverages, confectionary and food products. The Company leverages its
competitive advantages of brand understanding and consumer insight combined with
its  focus on R&D and  innovation,  to  provide  customers  with  differentiated
product offerings.  A member of the S&P 500 Index, IFF has sales,  manufacturing
and creative facilities in 30 countries worldwide. For more information,  please
visit our Web site at www.iff.com.

Audio Web Cast
--------------

An audio Web cast,  to discuss  the  Company's  second  quarter  2007  financial
results and outlook, will be held today at 10:00 a.m. ET. Interested parties can
access the Web cast and  accompanying  slide  presentation  on the Company's Web
site at www.iff.com,  under the Investor Relations section.  For those unable to
listen to the live  broadcast,  a replay will be available on the  Company's Web
site approximately one hour after the event and will remain available on the IFF
Web site until 11:59 p.m. on August 21, 2007.

Cautionary Statement Under The Private Securities Litigation Reform Act of 1995
-------------------------------------------------------------------------------

Statements in this report,  which are not historical  facts or information,  are
"forward-looking  statements"  within  the  meaning  of The  Private  Securities
Litigation  Reform Act of 1995.  Such  forward-looking  statements  are based on
management's  current assumptions,  estimates and expectations.  Certain of such
forward-looking  information  may be  identified  by  such  terms  as  "expect",
"believe",  "outlook,"  "guidance,"  "may,"  and  similar  terms  or  variations
thereof.  All information  concerning  future  revenues,  tax rates or benefits,
interest  savings,  earnings  and other  future  financial  results or financial
position,   constitutes   forward-looking   information.   Such  forward-looking
statements involve  significant risks,  uncertainties and other factors.  Actual
results of the Company may differ  materially from any future results  expressed
or implied by such  forward-looking  statements.  Such  factors  include,  among
others, the following: general economic and business conditions in the Company's
markets,  including  economic,  population  health and political  uncertainties;
interest  rates;  the price,  quality and  availability  of raw  materials;  the
Company's ability to implement its business strategy,  including the achievement
of anticipated  cost savings,  profitability  and growth targets;  the impact on
cash and the impact of increased  borrowings  related to the July 2007 announced
share repurchase program;  the impact of currency  fluctuation or devaluation in
the Company's principal foreign markets and the success of the Company's hedging
and  risk  management  strategies;  the  outcome  of  uncertainties  related  to
litigation;  uncertainties  related  to  any  potential  claims  and  rights  of
indemnification  or other  recovery for  customer  and consumer  reaction to its
earlier  contamination issue; the impact of possible pension funding obligations
and  increased  pension  expense  on the  Company's  cash  flow and  results  of
operations;  and the  effect of legal  and  regulatory  proceedings,  as well as
restrictions  imposed on the Company,  its operations or its  representatives by
foreign governments. The Company intends its forward-looking statements to speak
only as of the time of such  statements and does not undertake or plan to update
or revise them as more  information  becomes  available or to reflect changes in
expectations, assumptions or results.

Any public  statements or  disclosures by IFF following this release that modify
or impact any of the outlook or other forward-looking statements contained in or
accompanying  this release or as part of the webcast will be deemed to modify or
supersede such outlook or other  forward-looking  statements in or  accompanying
this release or the webcast.

Investor Contact:  Yvette Rudich
Director of Corporate Communications
212-708-7164

Media Contact:  Melissa Sachs
Manager, Corporate Communications
212-708-7278
International Flavors & Fragrances Inc.

                          Consolidated Income Statement

                  (Amounts in thousands except per share data)

                                   (Unaudited)
Quarter Ended                              Six Months Ended
                                                   June 30,                                    June 30,
                                     -------------------------------------      ---------------------------------------
                                        2006           2007      % Change           2006            2007      % Change
                                     ----------      ---------  ----------      -----------     -----------   ---------
Net sales                             $530,505        $573,726      8%           $1,041,937      $1,139,827      9%
Cost of goods sold                     302,889         327,668      8%              597,707         657,050     10%
                                     ----------      ---------                  -----------     -----------
Gross margin on sales                  227,616         246,058      8%              444,230         482,777      9%
Research & development                  45,588          48,760      7%               91,190          95,392      5%
Selling and administrative              87,684          91,198      4%              173,272         182,469      5%
Amortization                             3,711           3,555     -4%                7,421           7,111     -4%
Restructuring and other charges           (304)              -                          357               -
Interest expense                         6,300           8,396     33%               11,673          16,710     43%
Other expense (income), net               (286)         (2,819)                         153          (2,986)
                                     ----------      ---------                  -----------     -----------
Pretax income                           84,923          96,968     14%              160,164         184,081     15%
Income taxes                            23,741          18,596    -22%               45,292          43,020     -5%
                                     ----------      ---------                  -----------     -----------
Net income                             $61,182         $78,372     28%             $114,872        $141,061     23%
                                     ==========      =========                  ===========     ===========

Earnings per share - basic               $0.67           $0.88     31%                $1.26           $1.58     25%
Earnings per share - diluted             $0.67           $0.87     30%                $1.25           $1.56     25%

Average shares outstanding
--------------------------
(in thousands):
-------------
Basic                                   90,869          89,174     -2%               91,202          89,276     -2%
Diluted                                 91,787          90,124     -2%               91,997          90,391     -2%
International Flavors & Fragrances Inc.

                      Consolidated Condensed Balance Sheet

                             (Amounts in thousands)

                                   (Unaudited)
December 31,         June 30,
                                                        2006               2007
                                                   -------------      --------------
Cash & cash equivalents                           $   114,508         $   124,171
Short term investments                                    604                 583
Receivables                                           405,302             479,360
Inventories                                           446,606             454,737
Other current assets                                  112,783              95,465
                                                  ------------        ------------
   Total current assets                             1,079,803           1,154,316

Property, plant and equipment, net                    495,124             482,861
Goodwill and other intangibles, net                   745,716             738,605
Other assets                                          158,261             171,206
                                                  ------------        ------------
Total assets                                      $ 2,478,904         $ 2,546,988
                                                  ============        ============

Bank borrowings, overdrafts
  and current portion of long-term debt              $ 15,897            $ 18,982
Other current liabilities                             430,874             332,965
                                                  ------------        ------------
   Total current liabilities                          446,771             351,947

Long-term debt                                        791,443             785,774
Non-current liabilities                               335,522             414,611

Shareholders' equity                                  905,168             994,656
                                                  ------------        ------------
Total liabilities and shareholders' equity        $ 2,478,904         $ 2,546,988
                                                  ============        ============
International Flavors & Fragrances Inc.

                      Consolidated Statement of Cash Flows

                             (Amounts in thousands)

                                   (Unaudited)
June 30,          June 30,
                                                                          2006              2007
                                                                     --------------- ---------------
Cash flows from operating activities:
Net income                                                              $114,872         $141,061
Adjustments to reconcile to net cash provided by operations:
     Depreciation and amortization                                        44,602           42,287
     Deferred income taxes                                                   329            4,629
     Gain on disposal of assets                                           (3,881)          (6,737)
     Equity based compensation                                             8,094            8,248
     Changes in assets and liabilities
         Current receivables                                             (60,327)         (54,058)
         Inventories                                                       1,163           (1,258)
         Current payables                                                 (2,336)         (38,535)
         Changes in other assets                                          16,358            2,361
         Changes in other liabilities                                      1,886            1,836
                                                                     --------------- ---------------
Net cash provided by operations                                          120,760           99,834
                                                                     --------------- ---------------

Cash flows from investing activities:
     Net change in short-term investments                                     25             (311)
     Additions to property, plant and equipment                          (19,806)         (21,331)
     Proceeds from disposal of assets                                      6,504            8,751
                                                                     --------------- ---------------
Net cash used in investing activities                                    (13,277)         (12,891)
                                                                     --------------- ---------------

Cash flows from financing activities:
     Cash dividends paid to shareholders                                 (33,990)         (37,230)
     Net change in bank borrowings and overdrafts                        (32,508)            (496)
     Net change in commercial paper outstanding                          281,521                -
     Repayments of long-term debt                                       (499,306)               -
     Proceeds from issuance of stock under stock-based
      compensation plans                                                  23,146           36,461
     Excess tax benefits on stock options exercised                          205            3,914
     Purchase of treasury stock                                          (91,315)         (80,711)
                                                                     --------------- ---------------
Net cash used in financing activities                                   (352,247)         (78,062)
                                                                     --------------- ---------------

Effect of exchange rates changes on cash and cash equivalents              2,052              782

Net change in cash and cash equivalents                                 (242,712)           9,663

Cash and cash equivalents at beginning of year                           272,545          114,508

                                                                     --------------- ---------------
Cash and cash equivalents at end of period                               $29,833         $124,171
                                                                     =============== ===============