And Patrick Bousquet-Chavanne, President, Estee Lauder International, Inc.

    NEW YORK, Feb. 26 /PRNewswire/ -- The Estee Lauder Companies Inc.
(NYSE: EL) announced today that Jeanette Sarkisian Wagner, currently
President, Estee Lauder International, Inc., has been appointed by the Board
of Directors to the newly created position of Vice Chairman, The Estee Lauder
Companies Inc.  The announcement was made today by Leonard A. Lauder, Chairman
and Chief Executive Officer of the Company.  Mrs. Wagner will continue to
report to Fred H. Langhammer, President and Chief Operating Officer, and will
assume her new responsibilities on July 1.
    As Vice Chairman, Mrs. Wagner will direct new business developments for
the Company, providing management oversight for several recent strategic
acquisitions.  She will also be charged with identifying and developing
opportunities for future global expansion.
    Commenting on the appointment, Mr. Langhammer said, "Under Jeanette
Wagner's leadership, our international division increased both sales and
profits dramatically, becoming our largest and most profitable division and
firmly establishing the Estee Lauder Companies as the world leader in prestige
cosmetics.
    "In her more than 20 years at Estee Lauder, Mrs. Wagner has continually
combined superb management skills with a forward looking focus, developing new
concepts of selling, distribution and marketing and introducing our brands to
new world markets, including Russia, Eastern Europe and China.  We are
delighted that Jeanette will continue to contribute her talents to the
Company.  Her strategic thinking, energy and in-depth knowledge of the global
marketplace will be key in developing our newer brands and continuing our
business expansion."
    Succeeding Mrs. Wagner as President of Estee Lauder International, Inc.
will be Patrick Bousquet-Chavanne, currently Director/General Manager,
International Operations, Parfums Christian Dior, and previously Senior Vice
President/General Manager of the Estee Lauder Companies' Travel Retailing
division.  The effective date of Mr. Bousquet-Chavanne's appointment will be
determined shortly.  He will also report to Mr. Langhammer.
    As President, Estee Lauder International, Inc., Mr. Bousquet-Chavanne will
direct the international sales and marketing of all brands within the Estee
Lauder Companies -- Estee Lauder, Clinique, Aramis, Prescriptives, Origins,
M*A*C, Bobbi Brown essentials, Tommy Hilfiger, jane, Donna Karan Cosmetics and
Aveda.  The Company's international operations are today in more than
100 countries and territories.  He will also be responsible for the Company's
global Travel Retailing division.
    Mr. Langhammer commented, "Patrick Bousquet-Chavanne, also a leading
cosmetic industry executive, brings more that 20 years of international
experience, both at Estee Lauder and other companies, to his new role.  During
his career at Estee Lauder, he developed our Travel Retailing business into a
highly successful global operation with a presence in 93 countries, developing
a new standard in marketing and doubling sales, while maintaining strict
distribution control.  We are delighted to welcome Patrick back to Estee
Lauder."
    Jeanette Wagner joined the Estee Lauder Companies in 1975 as Vice
President, Director of Marketing of the Estee Lauder brand in the
International Division.  In 1982 she was promoted to Corporate Senior Vice
President in charge of strategic planning for the Corporation.  In 1986 she
was named President, Estee Lauder International, Inc., assuming responsibility
for sales and marketing for all Estee Lauder brands -- including Estee Lauder,
Clinique, Aramis and Prescriptives -- in international markets.  While
building the brands internationally, Mrs. Wagner and her team pioneered the
concept of free-standing stores for both Estee Lauder and Clinique and
introduced open-sell environments for the Lauder, Clinique and Aramis brands
throughout the international territories.  As the company developed and
acquired new brands, Mrs. Wagner's team successfully introduced Origins, Bobbi
Brown essentials, M*A*C and Tommy Hilfiger in Europe, Asia and Latin America.
    Prior to joining Estee Lauder in 1975, Mrs. Wagner was Editor-in-Chief,
International Editions, with The Hearst Corporation.  A cum laude graduate of
Northwestern University, Mrs. Wagner also was graduated from the Advanced
Management Program of Harvard Business School, and received an Honorary
Doctorate of Humane Letters from Marymount Manhattan College.
    In addition to her role as Vice Chairman, Estee Lauder Companies, Mrs.
Wagner will continue to serve on the Boards of Directors of the White House
Advisory Committee on Trade Policy and Negotiations; American Greetings
Corporation; Tricon Global Restaurants; The Fragrance Foundation (Chairman);
The Breast Cancer Research Foundation; Columbia University's School of
International and Public Affairs; The Business Council for International
Understanding; the Harvard Business School Club of Greater New York; and The
Committee of 200 Foundation.
    Patrick Bousquet-Chavanne joined the Estee Lauder Companies in 1989 as
Vice President, Aramis International.  From 1992 until 1996, he was Senior
Vice President/General Manager of Travel Retailing.  In late 1996, he left the
Estee Lauder Companies to join Paris-based Parfums Christian Dior.  Earlier in
his career, he was Managing Director, Elizabeth Arden in the U.K.
    Mr. Bousquet-Chavanne holds advanced management degrees from Stanford
University's Executive Program in Strategy and Organization; Krannert Graduate
School of Management, Purdue University; and Ecole Superieure de Commerce et
d'Administration d'Enterprises, Marseilles, France.
    The Estee Lauder Companies Inc. is one of the world's leading
manufacturers and marketers of quality skin care, makeup and fragrance
products.  The company's products are sold in more than 100 countries and
territories under well-recognized brand names, including Estee Lauder, Aramis,
Clinique, Prescriptives, Origins, M*A*C, Bobbi Brown essentials, Tommy
Hilfiger, jane, Donna Karan Cosmetics and Aveda.  For fiscal year ended June
30, 1997, the Estee Lauder Companies reported net sales of $3.4 billion and
net earnings of $197.6 million.

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