NEW YORK, Feb. 10 /PRNewswire/ -- The Estee Lauder Companies Inc.
(NYSE: EL) announced today that it is proceeding with the public offering of
7,215,000 shares of Class A Common Stock at a price of $47.00 per share by
certain stockholders of the Company.
The 7,215,000 shares being offered by the selling stockholders reflects an
increase of 1,550,000 shares over the 5,665,000 shares originally stated in
the registration statement filed with the Securities and Exchange Commission
on January 28, 1997. In addition, the Company has granted the underwriters a
30-day option to purchase up to 849,750 additional shares of Class A Common
Stock solely to cover over-allotments.
The selling stockholders are members of the Lauder family and entities in
which they have economic or beneficial interests. After the offering, members
of the Lauder family will continue to beneficially own 78.0% of outstanding
shares and 95.9% of the combined voting power of the Company's Common Stock.
The offering in the U.S. is being co-managed by Goldman, Sachs & Co.,
Dillon, Read & Co. Inc., Merrill Lynch & Co. and J.P. Morgan & Co. The
international offering is being co-managed by Goldman Sachs International,
Dillon, Read & Co. Inc., Merrill Lynch International and J.P. Morgan
Securities Ltd.
Copies of the final prospectus may be obtained from Goldman, Sachs & Co.,
Prospectus Department, 85 Broad Street, New York, New York 10004.
The Estee Lauder Companies Inc. is one of the world's leading
manufacturers and marketers of prestige skin care, makeup and fragrance
products. The Company's products are sold in over 100 countries and
territories under well-recognized brand names, including Estee Lauder,
Clinique, Aramis, Prescriptives, Origins, M.A.C. and Bobbi Brown essentials.
Estee Lauder press releases are available at no charge through Estee
Lauder Companies News On-Call fax service. For a menu of Estee Lauder press
releases or to retrieve a specific release, call 800-758-5804, extension
251850, or use the Internet via
http://www.prnewswire.com/cnoc/exec/menu?251850/
SOURCE Estee Lauder Companies Inc.
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CONTACT:
Investor relations, Gina R. Boswell,
212-572-4384, or media relations, Karen O'Connor, 212-572-4439,
both of Estee Lauder Companies
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