Standard & Poor's Raises McCormick & Company's Credit Ratings

SPARKS, Md., June 23 /PRNewswire-FirstCall/ -- McCormick & Company, Incorporated (NYSE: MKC) today announced that Standard & Poor's (S&P) has raised the Company's long-term corporate credit and senior unsecured debt ratings to 'A' from 'A-.' In addition, the short-term corporate credit and commercial paper ratings were raised to 'A-1' from 'A-2.' The outlook for the business was rated "stable."

Francis A. Contino, Executive Vice President, CFO & Supply Chain, commented, "We are delighted to receive this upgrade in recognition of McCormick's financial strength and business strategy. Our debt rating is very important to us and reflects well on our ability to appropriately finance our ongoing operations as well as acquisitions and other growth initiatives."

In discussing the rating upgrade, Ronald B. Neysmith, S&P credit analyst, stated, "The upgrade reflects the continued improvement in McCormick's operating results stemming from improved product mix and ongoing cost-saving initiatives. The upgrade also reflects management's conservative financial policies and commitment to maintaining credit protection measures in line with the revised rating."

McCormick's financial results for the second quarter of fiscal year 2004 will be announced on June 29, 2004.

About McCormick

McCormick & Company, Incorporated is the global leader in the manufacture, marketing and distribution of spices, seasonings and flavors to the entire food industry - to foodservice and food processing businesses as well as to retail outlets.

SOURCE McCormick & Company, Incorporated

CONTACT: Corporate Communications: Mac Barrett, +1-410-771-7310 or
mac_barrett@mccormick.com; or Investor Relations: Joyce Brooks,
+1-410-771-7244 or joyce_brooks@mccormick.com, both of McCormick & Company, Incorporated
Web site: http://www.mccormick.com