NEW YORK, Aug. 21 /PRNewswire/ -- The Board of Directors of The Estee
Lauder Companies Inc. (NYSE: EL) today declared a quarterly dividend of
$.085 per share on the Company's Class A and Class B common stock, payable on
September 30, 1997 to stockholders of record at the close of business on
September 12, 1997.
    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, MAC and Bobbi Brown essentials.

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