Rafi Friedman Appointed President of Frutarom USA Inc.

Ori Yehudai, President & CEO of Frutarom Ltd., announces that Rafi Friedman has been named President of Frutarom USA Inc.

In describing Mr. Friedman’s substantial industry experience, Mr. Yehudai explained that Mr. Friedman joins Frutarom after a successful career with Makhteshim Agan Group, a global Israeli group with a sales turnover of over two billion dollars, where he served as Vice President, Finance and Operations of the Group's American subsidiary. Prior to his career with Makhteshim Agan, Friedman had an equally successful and long career in Strauss Group, a large fresh-food company in Israel.

“As our new President of Frutarom USA, Friedman brings with him vast managerial and business experience as well as excellent skills in the fields of operation, finance, improvement of infrastructures and increase of sales, and a proven capability of managing American activities, while implementing and assimilating acquired activities.

Friedman will manage the American territory of Frutarom's businesses while preparing a foundation to significantly increase Frutarom's activities in the Americas and implement acquisitions. Friedman's appointment, experience and abilities will support the further execution of Frutarom's profitable and rapid growth strategy,” added Mr. Yehudai.

Rafi Friedman expressed his enthusiasm at joining Frutarom USA, citing the company’s considerable expansion over the last ten years. He said, “I see a huge potential for Frutarom to continue to grow its business, both through organic growth and new acquisitions. The challenges during this period will be to exploit the enlarged portfolio of Frutarom to boost healthy, profitable growth, and create a stronger Frutarom presence in the US. Although I have been with the company a very short time, I have already identified a very dedicated group of people.”

Mr. Friedman studied Economics and Accounting at Haifa University, and completed a Senior Management Program at Thechnion Institute of Management (TIM) in Israel. He is a member of the Institute of Food Technology.

For more information contact Laurent Leduc at Frutarom by e-mail at [email protected]

About Frutarom

Established in 1933, the Frutarom Group is a rapidly growing global flavor and fine ingredients company. Frutarom develops, manufactures and markets an extensive variety of high quality flavors and natural fine ingredients for customers in the food, beverage, flavor, fragrance, pharmaceutical, nutraceutical, food additive, and cosmetic industries. Frutarom's 20,000 products are sold to more than 10,000 customers in 120 countries around the world. The Frutarom Group has 1,500 employees worldwide and manufacturing facilities in Europe, North America, Israel and Asia.

Frutarom operates through two divisions:
• Flavors Division, which develops, produces and markets flavor compounds and food systems.
• Fine Ingredients Division, which develops, produces and markets natural flavor extracts, functional food ingredients, natural pharmaceutical/nutraceutical extracts, specialty essential oils, citrus products and aroma chemicals.

Frutarom Industries Ltd. is a public company whose stock is listed on the Tel Aviv and London Stock Exchanges. As of January 1, 2003 Frutarom has been included in the Tel Aviv 100 Index

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