P&G licensing olestra to Frito-Lay

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Procter & Gamble Co. on Wednesday will hold a press conference in Washington to tout the benefits of its olestra zero-calorie fat replacement. P&G is licensing the U.S. savory snack rights for olestra to Frito-Lay, according to financial analysts.

As earlier reported in Advertising Age, P&G expects Food & Drug Administration approval for the zero-calorie fat replacement after a mid-November Food Advisory Committee meeting. P&G is also expected to use olestra, which it will market as Olean, in its own snack foods such as Pringles and is planning a test of the fat substitute for sometime in ealry 1996, perhaps the first quarter. Outside the U.S., it is expected to seek additional licensees.

"P&G does not comment on rumors or speculation," a company spokeswoman said. The press conference will follow an earlier one to be held by the Center for Science in the Public Interest, at which olestra is expected to be attacked.

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