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                                                                      EXHIBIT 11

                           BESTFOODS AND SUBSIDIARIES
                 SCHEDULE OF COMPUTATION OF EARNINGS PER SHARE

                     (In millions, except per share amounts)
<TABLE>
<CAPTION>

                                                                       Three Months Ended                    Six Months Ended
                                                                            June 30,                             June 30,

                           BASIC                                         1999              1998            1999              1998
                                                                      ----------       -----------      ---------        ----------
<S>                                                                   <C>              <C>              <C>              <C>
Net income                                                            $   176.0        $   172.3        $   320.0        $   305.7
Preferred stock dividends, net of taxes                                    (2.5)            (2.3)            (4.9)            (5.1)
                                                                      ---------        ---------        ---------        ---------
Net income available to common stockholders                           $   173.5        $   170.0        $   315.1        $   300.6
                                                                      =========        =========        =========        =========
Weighted average shares outstanding                                       279.0            288.0            279.9            288.3
                                                                      =========        =========        =========        =========

BASIC EARNINGS PER SHARE:

      Net income                                                      $     0.62       $     0.59       $     1.13       $     1.04
                                                                       =========        =========        =========        =========
                          DILUTED

Net income                                                            $   176.0        $   172.3        $   320.0        $   305.7
Adjustments to net income:

     Assumed additional cost if ESOP shares
      are fully converted net of tax benefits                              (0.7)            (0.8)            (1.3)            (1.2)
                                                                      ---------        ---------        ---------        ---------
Diluted net income                                                    $   175.3        $   171.5        $   318.7        $   304.5
                                                                      =========        =========        =========        =========

Weighted average shares outstanding                                       279.0            288.0            279.9            288.3
Add incremental shares representing:
    Exercise of stock options                                               2.0              2.9              1.9              2.9
    Performance plan shares                                                  .1               .4               .1               .3
    Conversion of ESOP shares                                               6.9              7.2              7.0              8.0
                                                                      ---------        ---------        ---------        ---------
Weighted average number of shares as adjusted                             288.0            298.5            288.9            299.5
                                                                      =========        =========        =========        =========

DILUTED EARNINGS PER SHARE:

      Net income                                                      $     0.61       $     0.58       $     1.10       $     1.02
                                                                      =========        =========        =========        =========
</TABLE>


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