CHINA FLAVORS<03318> - Unusual price & volume movements

The Stock Exchange has received a message from China Flavors and
Fragrances Company Limited which is reproduced as follows:-

"This statement is made at the request of The Stock Exchange of Hong Kong 
Limited

The board of directors ("the Board") of China Flavors and Fragrances 
Company Limited (the "Company) has noted the recent decrease in the price 
of the shares and increase in trading volume of the shares of the Company 
today and wishes to state that it is not aware of any reason for such 
decrease in the price of the shares and increase in trading volume of the 
shares of the Company today .

The Board also confirms that there are no negotiations or agreements 
relating to intended acquisition or realizations which are discloseable 
under Rule 13.23, neither is the Board aware of any matter discloseable 
under the general obligation imposed by Rule 13.09, which is or may be of 
a price sensitive nature.

Made by the order of the Board, the directors of which individually and 
jointly accept responsibility for the accuracy of this announcement.


By the order of the Board,
For and on behalf of 
China Flavors & Frangrances Company Limited

Ma Man Wai
Company Secretary

Hong Kong
16 February 2007

As at the date of this statement, the Board comprises Mr. Wong Ming Bun, 
Mr. Wang Ming Fan and Mr. Li Qing Long as executive directors, and Mr. Goh 
Gen Cheung, Mr. Leung Wai Man, Roger and Mr. Zhou Xiao Xiong as 
independent non-executive directors."