SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C. 20549-1004
                             ----------------------

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934


               Date of Report (Date of earliest event reported):
                                October 25, 2001


                         The Estee Lauder Companies Inc.
             (Exact name of registrant as specified in its charter)


                 Delaware                                11-2408943
   (State or other jurisdiction of            (IRS Employer Identification No.)
     incorporation or organization)


  767 Fifth Avenue, New York, New York                     10153
(Address of principal executive offices)                 (Zip Code)


                                  212-572-4200
              (Registrant's telephone number, including area code)

                                 Not Applicable
          (Former name or former address, if changed since last report)



ITEM 5.           OTHER EVENTS.

On October 25, 2001, The Estee Lauder Companies Inc. issued a press release
reporting its first-quarter results and estimates for its fiscal 2002
second-quarter and full-year results. A copy of the press release is attached
hereto as Exhibit 99.1 and is incorporated herein by reference.



                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.


                                          THE ESTEE LAUDER COMPANIES INC.



Date:  October 25, 2001                    By:   /s/Richard W. Kunes
                                            -------------------------
                                                 Richard W. Kunes
                                               Senior Vice President
                                           and Chief Financial Officer
                                             (Principal Financial and
                                                Accounting Officer)


<PAGE>




                         THE ESTEE LAUDER COMPANIES INC.

                                  EXHIBIT INDEX



Exhibit No.       Description

99.1     Press release dated October 25, 2001 of the Estee Lauder Companies Inc.





<PAGE>




                                                                 Exhibit 99.1

THE                                                                     News
ESTEE                                                                 Contact:
LAUDER                                                     Investor Relations:
COMPANIES INC.                                                Dennis D'Andrea
                                                               (212) 572-4384

                                                              Media Relations:
767 Fifth Avenue                                                  Sally Susman
New York, NY  10153                                             (212) 572-4430

FOR IMMEDIATE RELEASE:

              ESTEE LAUDER COMPANIES REPORTS FIRST QUARTER RESULTS

New York, NY, October 25, 2001 - The Estee Lauder Companies Inc. (NYSE: EL)
today reported net sales for the fiscal first quarter ended September 30, 2001
of $1.19 billion, a 1% increase from $1.18 billion in the prior-year period.
Excluding the negative impact of foreign currency translation, net sales
increased 3%.

The Company achieved net earnings of $97.1 million for the quarter, up 3% from
$94.6 million in the same period last year. Diluted earnings per common share
increased 3% to $.38 from $.37 reported in the prior year. The prior year net
earnings and diluted earnings per share are before the cumulative effect of a
change in accounting principle, related to derivative instruments and hedging
activities.

During the current quarter the Company adopted Statement of Financial Accounting
Standards Number 142, "Goodwill and Other Intangible Assets," that eliminates
amortization of goodwill. The positive effect of the new rule increased diluted
earnings per share for the quarter by approximately $.01.

Fred H. Langhammer, President and Chief Executive Officer, said, "Despite the
very difficult economic environment, we grew our Company this quarter. As we
work through the immediate challenges and look beyond the near-term, we are
focusing resources on the greatest opportunities for growth and supporting the
internal flow of ideas to garner innovation and efficiencies. These actions will
strengthen our leadership position and enable us to continue to grow our Company
and drive stockholder value."

Results by Product Category

Net sales of makeup products for the quarter rose 5% before the impact of
foreign currency translation and increased 4% to $447.5 million on a reported
basis. The higher sales reflect the launch of Gentle Light Makeup and Powder and
High Impact Eye Shadow Duo from Clinique along with Sumptuous Lipstick by Estee
Lauder. Recently launched products such as Moisture Surge Lipstick and
Lash-Doubling Mascara by Clinique and Equalizer Smart Makeup from Estee Lauder
also contributed to the net sales increase, as did strong double-digit growth
from M.A.C and new and existing products from our other brands.

<PAGE>

Skin care sales for the quarter rose 2% before foreign currency translation and
reported sales decreased slightly to $393.5 million. During the quarter, the
Company launched LightSource Transforming Moisture Cream and Lotion by Estee
Lauder, Total Turnaround Visible Skin Renewer from Clinique and A Perfect World
White Tea Skin Guardian by Origins. Lower sales of certain existing products
offset these positive results.

Fragrance sales decreased 2% over the prior-year quarter excluding the impact of
foreign currency translation and declined 3% on a reported basis to $291.3
million. The current quarter benefited from the initial shipments of the
Company's newest men's fragrance, T by Tommy Hilfiger, and continued success of
the recent domestic launch of Intuition by Estee Lauder. These positive
contributions were offset by lower sales of DKNY for women, Beautiful by Estee
Lauder and Clinique Happy.

Sales of hair care products for the quarter increased 10% to $50.0 million. The
increase is primarily attributable to growth at Aveda and Bumble and bumble,
partially offset by the anniversary of the prior-year launch of Clinique's
Simple Hair Care System.

Operating income in hair care increased and was up slightly in makeup, driven by
sales growth in each of these categories. Fragrance operating income decreased
and skin care declined slightly reflecting lower reported sales.

Results by Geographic Region

In the Americas region, net sales for the first quarter decreased 2% to $765.4
million, coming off of 9% growth in last year's first quarter. The decrease is
due to the continued soft retail environment in this region, reflecting lower
consumer confidence and spending, and inventory contraction by U.S. retailers.
These challenges were partially offset by the success of new and existing
products and growth from most newer brands. Operating income in the region
decreased reflecting lower net sales and increased investment in advertising,
promotion and newer distribution channels.

In Europe, the Middle East & Africa, net sales increased 8% over last year's
first quarter, excluding the impact of foreign currency translation. The
increased sales were led by solid results in the United Kingdom, Italy and our
distributor businesses, and the start of the Company's majority-owned joint
venture in Greece, partially offset by lower sales in travel retail. The Company
posted a 7% increase in reported net sales over the prior-year period to $272.3
million. Operating profitability increased, particularly in Italy and Greece.

On a local currency basis, Asia/Pacific net sales increased 18% versus the
prior-year quarter. Most markets generated double-digit sales increases with
strong performances coming from Korea, Thailand, and Australia. Sales in Japan
grew modestly and it remained a difficult market. Lower sales in Taiwan were
attributable to severe typhoon and flooding conditions there. Net sales in the
region on a reported basis increased 8% to $150.0 million, primarily reflecting
the continued weakness of the Japanese yen and Australian dollar. Operating
profit in the region increased primarily due to higher sales.

Estimates of Fiscal 2002 Second-Quarter and Full-Year Results

The Company recognizes that the high degree of global instability and economic
uncertainty makes definitive forecasting difficult. Net sales for the second
fiscal quarter, are expected to grow between 2% and 3% on a constant currency
basis versus last fiscal year's second quarter

<PAGE>

growth of 10%. The Company expects to achieve diluted earnings per share for the
second quarter of between $.49 and $.52. Coupled with the cautious retail
outlook, the fiscal 2002 second quarter will be facing a very difficult
comparison with the same prior-year quarter when the Company reported solid
growth in all regions and most product categories. Geographic region net sales
growth in constant currency is expected to be led by Asia/Pacific and the
Americas, while Europe, the Middle East & Africa is expected to decrease as a
result of a projected shortfall in the Company's travel retail business, which
is reported in this region. On a product category basis, in constant currency,
hair care sales, with a smaller base, are expected to be the leading growth
category, followed by makeup and skin care, while fragrance is expected to
decline versus the prior-year. The effect of exchange rates could reduce
reported sales growth for the fiscal second quarter by approximately one
percentage point.

For the full fiscal year, the Company said it remains comfortable with its
previously announced expectations to grow sales and achieve diluted earnings per
share in line with the Street consensus estimate of $1.45.


Forward-looking Statements

The forward-looking statements in this press release, including those containing
words like "will," "expect," "anticipate," and "estimate" and those in the
"Estimates" section of this release involve risks and uncertainties. Factors
that could cause actual results to differ materially from those forward-looking
statements include the following:

           (i) increased competitive activity from companies in the skin care,
           makeup, fragrance and hair care businesses, some of which have
           greater resources than the Company does;

           (ii) the  Company's  ability to develop, produce and market new
           products on which future operating results may depend;

           (iii) consolidations and restructurings in the retail industry
           causing a decrease in the number of stores that sell the Company's
           products, an increase in the ownership concentration within the
           retail industry, ownership of retailers by the Company's competitors
           and ownership of competitors by the Company's customers that are
           retailers;

           (iv) shifts in the  preferences  of  consumers  as to where and how
           they shop for the types of  products  and services the Company sells;

           (v) social, political and economic risks to the Company's foreign or
           domestic manufacturing, distribution and retail operations, including
           changes in foreign investment and trade policies and regulations of
           the host countries and of the United States;

           (vi) changes in the laws, regulations and policies, including changes
           in accounting standards and trade rules, and legal or regulatory
           proceedings, that affect, or will affect, the Company in the United
           States and abroad;

           (vii) foreign currency fluctuations affecting the Company's results
           of operations and the value of its foreign assets, the relative
           prices at which the Company sells its products and its foreign
           competitors sell products in the same markets and the Company's
           operating and manufacturing costs outside of the United States;

           (viii) changes in global or local economic conditions that could
           affect consumer purchasing, the financial strength of our customers
           and the cost and availability of capital to the Company, which may be
           needed for new equipment, facilities or acquisitions;

<PAGE>

           (ix) shipment delays, depletion of inventory and increased production
           costs resulting from disruptions of operations at any of the
           facilities which, due to consolidations in the Company's
           manufacturing operations, now manufacture nearly all of the Company's
           supply of a particular type of product (i.e., focus factories);

           (x) real estate rates and availability, which may affect the
           Company's ability to increase the number of retail locations at which
           the Company's products are sold;

           (xi) changes in product mix to products which are less profitable;

           (xii) the Company's ability to develop e-commerce capabilities, and
           other new information and distribution technologies, on a timely
           basis and within the Company's cost estimates;

           (xiii) the Company's ability to integrate acquired businesses and
           realize value therefrom; and

           (xiv) consequences attributable to the events that took place in New
           York City and Washington, D.C. on September 11, 2001, including
           further attacks, retaliation and the threat of further attacks or
           retaliation.


The Estee Lauder Companies Inc. is one of the world's leading manufacturers and
marketers of quality skin care, makeup, fragrance and hair care products. The
Company's products are sold in over 120 countries and territories under
well-recognized brand names, including Estee Lauder, Clinique, Aramis,
Prescriptives, Origins, M.A.C, Bobbi Brown, Tommy Hilfiger, La Mer, jane, Donna
Karan, Aveda, Stila, Jo Malone and Bumble and bumble.

An electronic version of this release can be found at the Company's Website,
www.elcompanies.com.


                                - Table Follows -



<PAGE>

                         THE ESTEE LAUDER COMPANIES INC.

                         SUMMARY OF CONSOLIDATED RESULTS
                      (In millions, except per share data)
<TABLE>
<CAPTION>

                                                              Three Months Ended
                                                                  September 30     Percent
                                                                2001       2000     Change

<S>                                                            <C>        <C>        <C>
Net Sales.................................................     $1,187.7   $1,177.7   0.8%

Cost of sales.............................................        254.5      263.3
                                                              ---------  ---------
Gross Profit..............................................        933.2      914.4   2.1%
                                                              ---------  ---------
       Gross Margin.......................................         78.6%      77.6%

Operating expenses:
   Selling, general and administrative....................        776.3      752.9
   Related party royalties................................          4.0        8.2
                                                              ---------  ---------
                                                                  780.3      761.1   2.5%
                                                              ---------  ---------
       Operating Expense Margin...........................         65.7%      64.6%

Operating Income..........................................        152.9      153.3  (0.3)%
       Operating Income Margin............................         12.9%      13.0%

Interest expense, net.....................................          3.8        5.1
                                                              ---------  ---------

Earnings before Income Taxes, Minority Interest
 and Accounting Change....................................        149.1      148.2   0.6%

Provision for income taxes................................         51.4       53.4
Minority interest, net of tax.............................         (0.6)      (0.2)
                                                              ---------  ---------

Net Earnings before Accounting Change.....................         97.1       94.6   2.6%
Cumulative effect of a change in accounting
   principle, net of tax (a)..............................           -        (2.2)
                                                              ---------  ---------
Net Earnings .............................................         97.1       92.4

Preferred stock dividends.................................          5.9        5.9
                                                              ---------  ---------

Net Earnings Attributable to Common Stock.................    $    91.2  $    86.5
                                                              =========  =========

Basic net earnings per common share:
   Net earnings attributable to common stock before
     accounting change....................................    $    .38   $    .37    2.5%
   Cumulative effect of a change in accounting principle,
     net of tax...........................................           -       (.01)
                                                              --------   --------
   Net earnings attributable to common stock..............    $    .38   $    .36    5.1%
                                                              ========   ========

Diluted net earnings per common share:
   Net earnings attributable to common stock before
     accounting change....................................    $    .38   $    .37    2.8%
   Cumulative effect of a change in accounting principle,
     net of tax...........................................           -       (.01)
                                                              --------   --------
   Net earnings attributable to common stock..............    $    .38   $    .36    5.4%
                                                              ========   ========

Weighted average common shares outstanding:
   Basic..................................................        238.9      238.1
   Diluted................................................        242.3      242.2

</TABLE>


(a)  The quarter ended September 30, 2000 included a one-time charge of $2.2
     million, after tax, or $.01 per common share, attributable to the
     cumulative effect of adopting Statement of Financial Accounting Standards
     No. 133, "Accounting for Derivative Instruments and Hedging Activities."
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{"company-data": {"conformed-name": "ESTEE LAUDER COMPANIES INC", "cik": "0001001250", "assigned-sic": "2844", "irs-number": "112408943", "state-of-incorporation": "DE", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-14064", "film-number": "1765855"}, "business-address": {"street1": "767 FIFTH AVE", "city": "NEW YORK", "state": "NY", "zip": "10153", "phone": "2125724200"}, "mail-address": {"street1": "767 FIFTH AVE", "city": "NEW YORK", "state": "NY", "zip": "10153"}}
SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C. 20549-1004
                             ----------------------

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934

               Date of Report (Date of earliest event reported):
                                October 25, 2001

                         The Estee Lauder Companies Inc.
             (Exact name of registrant as specified in its charter)

                 Delaware                                11-2408943
   (State or other jurisdiction of            (IRS Employer Identification No.)
     incorporation or organization)

  767 Fifth Avenue, New York, New York                     10153
(Address of principal executive offices)                 (Zip Code)

                                  212-572-4200
              (Registrant's telephone number, including area code)

                                 Not Applicable
          (Former name or former address, if changed since last report)

ITEM 5.           OTHER EVENTS.

On October 25, 2001, The Estee Lauder Companies Inc. issued a press release
reporting its first-quarter results and estimates for its fiscal 2002
second-quarter and full-year results. A copy of the press release is attached
hereto as Exhibit 99.1 and is incorporated herein by reference.

                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.

                                          THE ESTEE LAUDER COMPANIES INC.

Date:  October 25, 2001                    By:   /s/Richard W. Kunes
                                            -------------------------
                                                 Richard W. Kunes
                                               Senior Vice President
                                           and Chief Financial Officer
                                             (Principal Financial and
                                                Accounting Officer)
THE ESTEE LAUDER COMPANIES INC.

                                  EXHIBIT INDEX

Exhibit No.       Description

99.1     Press release dated October 25, 2001 of the Estee Lauder Companies Inc.
Exhibit 99.1

THE                                                                     News
ESTEE                                                                 Contact:
LAUDER                                                     Investor Relations:
COMPANIES INC.                                                Dennis D'Andrea
                                                               (212) 572-4384

                                                              Media Relations:
767 Fifth Avenue                                                  Sally Susman
New York, NY  10153                                             (212) 572-4430

FOR IMMEDIATE RELEASE:

              ESTEE LAUDER COMPANIES REPORTS FIRST QUARTER RESULTS

New York, NY, October 25, 2001 - The Estee Lauder Companies Inc. (NYSE: EL)
today reported net sales for the fiscal first quarter ended September 30, 2001
of $1.19 billion, a 1% increase from $1.18 billion in the prior-year period.
Excluding the negative impact of foreign currency translation, net sales
increased 3%.

The Company achieved net earnings of $97.1 million for the quarter, up 3% from
$94.6 million in the same period last year. Diluted earnings per common share
increased 3% to $.38 from $.37 reported in the prior year. The prior year net
earnings and diluted earnings per share are before the cumulative effect of a
change in accounting principle, related to derivative instruments and hedging
activities.

During the current quarter the Company adopted Statement of Financial Accounting
Standards Number 142, "Goodwill and Other Intangible Assets," that eliminates
amortization of goodwill. The positive effect of the new rule increased diluted
earnings per share for the quarter by approximately $.01.

Fred H. Langhammer, President and Chief Executive Officer, said, "Despite the
very difficult economic environment, we grew our Company this quarter. As we
work through the immediate challenges and look beyond the near-term, we are
focusing resources on the greatest opportunities for growth and supporting the
internal flow of ideas to garner innovation and efficiencies. These actions will
strengthen our leadership position and enable us to continue to grow our Company
and drive stockholder value."

Results by Product Category

Net sales of makeup products for the quarter rose 5% before the impact of
foreign currency translation and increased 4% to $447.5 million on a reported
basis. The higher sales reflect the launch of Gentle Light Makeup and Powder and
High Impact Eye Shadow Duo from Clinique along with Sumptuous Lipstick by Estee
Lauder. Recently launched products such as Moisture Surge Lipstick and
Lash-Doubling Mascara by Clinique and Equalizer Smart Makeup from Estee Lauder
also contributed to the net sales increase, as did strong double-digit growth
from M.A.C and new and existing products from our other brands.
Skin care sales for the quarter rose 2% before foreign currency translation and
reported sales decreased slightly to $393.5 million. During the quarter, the
Company launched LightSource Transforming Moisture Cream and Lotion by Estee
Lauder, Total Turnaround Visible Skin Renewer from Clinique and A Perfect World
White Tea Skin Guardian by Origins. Lower sales of certain existing products
offset these positive results.

Fragrance sales decreased 2% over the prior-year quarter excluding the impact of
foreign currency translation and declined 3% on a reported basis to $291.3
million. The current quarter benefited from the initial shipments of the
Company's newest men's fragrance, T by Tommy Hilfiger, and continued success of
the recent domestic launch of Intuition by Estee Lauder. These positive
contributions were offset by lower sales of DKNY for women, Beautiful by Estee
Lauder and Clinique Happy.

Sales of hair care products for the quarter increased 10% to $50.0 million. The
increase is primarily attributable to growth at Aveda and Bumble and bumble,
partially offset by the anniversary of the prior-year launch of Clinique's
Simple Hair Care System.

Operating income in hair care increased and was up slightly in makeup, driven by
sales growth in each of these categories. Fragrance operating income decreased
and skin care declined slightly reflecting lower reported sales.

Results by Geographic Region

In the Americas region, net sales for the first quarter decreased 2% to $765.4
million, coming off of 9% growth in last year's first quarter. The decrease is
due to the continued soft retail environment in this region, reflecting lower
consumer confidence and spending, and inventory contraction by U.S. retailers.
These challenges were partially offset by the success of new and existing
products and growth from most newer brands. Operating income in the region
decreased reflecting lower net sales and increased investment in advertising,
promotion and newer distribution channels.

In Europe, the Middle East & Africa, net sales increased 8% over last year's
first quarter, excluding the impact of foreign currency translation. The
increased sales were led by solid results in the United Kingdom, Italy and our
distributor businesses, and the start of the Company's majority-owned joint
venture in Greece, partially offset by lower sales in travel retail. The Company
posted a 7% increase in reported net sales over the prior-year period to $272.3
million. Operating profitability increased, particularly in Italy and Greece.

On a local currency basis, Asia/Pacific net sales increased 18% versus the
prior-year quarter. Most markets generated double-digit sales increases with
strong performances coming from Korea, Thailand, and Australia. Sales in Japan
grew modestly and it remained a difficult market. Lower sales in Taiwan were
attributable to severe typhoon and flooding conditions there. Net sales in the
region on a reported basis increased 8% to $150.0 million, primarily reflecting
the continued weakness of the Japanese yen and Australian dollar. Operating
profit in the region increased primarily due to higher sales.

Estimates of Fiscal 2002 Second-Quarter and Full-Year Results

The Company recognizes that the high degree of global instability and economic
uncertainty makes definitive forecasting difficult. Net sales for the second
fiscal quarter, are expected to grow between 2% and 3% on a constant currency
basis versus last fiscal year's second quarter
growth of 10%. The Company expects to achieve diluted earnings per share for the
second quarter of between $.49 and $.52. Coupled with the cautious retail
outlook, the fiscal 2002 second quarter will be facing a very difficult
comparison with the same prior-year quarter when the Company reported solid
growth in all regions and most product categories. Geographic region net sales
growth in constant currency is expected to be led by Asia/Pacific and the
Americas, while Europe, the Middle East & Africa is expected to decrease as a
result of a projected shortfall in the Company's travel retail business, which
is reported in this region. On a product category basis, in constant currency,
hair care sales, with a smaller base, are expected to be the leading growth
category, followed by makeup and skin care, while fragrance is expected to
decline versus the prior-year. The effect of exchange rates could reduce
reported sales growth for the fiscal second quarter by approximately one
percentage point.

For the full fiscal year, the Company said it remains comfortable with its
previously announced expectations to grow sales and achieve diluted earnings per
share in line with the Street consensus estimate of $1.45.

Forward-looking Statements

The forward-looking statements in this press release, including those containing
words like "will," "expect," "anticipate," and "estimate" and those in the
"Estimates" section of this release involve risks and uncertainties. Factors
that could cause actual results to differ materially from those forward-looking
statements include the following:

           (i) increased competitive activity from companies in the skin care,
           makeup, fragrance and hair care businesses, some of which have
           greater resources than the Company does;

           (ii) the  Company's  ability to develop, produce and market new
           products on which future operating results may depend;

           (iii) consolidations and restructurings in the retail industry
           causing a decrease in the number of stores that sell the Company's
           products, an increase in the ownership concentration within the
           retail industry, ownership of retailers by the Company's competitors
           and ownership of competitors by the Company's customers that are
           retailers;

           (iv) shifts in the  preferences  of  consumers  as to where and how
           they shop for the types of  products  and services the Company sells;

           (v) social, political and economic risks to the Company's foreign or
           domestic manufacturing, distribution and retail operations, including
           changes in foreign investment and trade policies and regulations of
           the host countries and of the United States;

           (vi) changes in the laws, regulations and policies, including changes
           in accounting standards and trade rules, and legal or regulatory
           proceedings, that affect, or will affect, the Company in the United
           States and abroad;

           (vii) foreign currency fluctuations affecting the Company's results
           of operations and the value of its foreign assets, the relative
           prices at which the Company sells its products and its foreign
           competitors sell products in the same markets and the Company's
           operating and manufacturing costs outside of the United States;

           (viii) changes in global or local economic conditions that could
           affect consumer purchasing, the financial strength of our customers
           and the cost and availability of capital to the Company, which may be
           needed for new equipment, facilities or acquisitions;
(ix) shipment delays, depletion of inventory and increased production
           costs resulting from disruptions of operations at any of the
           facilities which, due to consolidations in the Company's
           manufacturing operations, now manufacture nearly all of the Company's
           supply of a particular type of product (i.e., focus factories);

           (x) real estate rates and availability, which may affect the
           Company's ability to increase the number of retail locations at which
           the Company's products are sold;

           (xi) changes in product mix to products which are less profitable;

           (xii) the Company's ability to develop e-commerce capabilities, and
           other new information and distribution technologies, on a timely
           basis and within the Company's cost estimates;

           (xiii) the Company's ability to integrate acquired businesses and
           realize value therefrom; and

           (xiv) consequences attributable to the events that took place in New
           York City and Washington, D.C. on September 11, 2001, including
           further attacks, retaliation and the threat of further attacks or
           retaliation.

The Estee Lauder Companies Inc. is one of the world's leading manufacturers and
marketers of quality skin care, makeup, fragrance and hair care products. The
Company's products are sold in over 120 countries and territories under
well-recognized brand names, including Estee Lauder, Clinique, Aramis,
Prescriptives, Origins, M.A.C, Bobbi Brown, Tommy Hilfiger, La Mer, jane, Donna
Karan, Aveda, Stila, Jo Malone and Bumble and bumble.

An electronic version of this release can be found at the Company's Website,
www.elcompanies.com.

                                - Table Follows -
THE ESTEE LAUDER COMPANIES INC.

                         SUMMARY OF CONSOLIDATED RESULTS
                      (In millions, except per share data)
Three Months Ended
                                                                  September 30     Percent
                                                                2001       2000     Change
Net Sales.................................................     $1,187.7   $1,177.7   0.8%

Cost of sales.............................................        254.5      263.3
                                                              ---------  ---------
Gross Profit..............................................        933.2      914.4   2.1%
                                                              ---------  ---------
       Gross Margin.......................................         78.6%      77.6%

Operating expenses:
   Selling, general and administrative....................        776.3      752.9
   Related party royalties................................          4.0        8.2
                                                              ---------  ---------
                                                                  780.3      761.1   2.5%
                                                              ---------  ---------
       Operating Expense Margin...........................         65.7%      64.6%

Operating Income..........................................        152.9      153.3  (0.3)%
       Operating Income Margin............................         12.9%      13.0%

Interest expense, net.....................................          3.8        5.1
                                                              ---------  ---------

Earnings before Income Taxes, Minority Interest
 and Accounting Change....................................        149.1      148.2   0.6%

Provision for income taxes................................         51.4       53.4
Minority interest, net of tax.............................         (0.6)      (0.2)
                                                              ---------  ---------

Net Earnings before Accounting Change.....................         97.1       94.6   2.6%
Cumulative effect of a change in accounting
   principle, net of tax (a)..............................           -        (2.2)
                                                              ---------  ---------
Net Earnings .............................................         97.1       92.4

Preferred stock dividends.................................          5.9        5.9
                                                              ---------  ---------

Net Earnings Attributable to Common Stock.................    $    91.2  $    86.5
                                                              =========  =========

Basic net earnings per common share:
   Net earnings attributable to common stock before
     accounting change....................................    $    .38   $    .37    2.5%
   Cumulative effect of a change in accounting principle,
     net of tax...........................................           -       (.01)
                                                              --------   --------
   Net earnings attributable to common stock..............    $    .38   $    .36    5.1%
                                                              ========   ========

Diluted net earnings per common share:
   Net earnings attributable to common stock before
     accounting change....................................    $    .38   $    .37    2.8%
   Cumulative effect of a change in accounting principle,
     net of tax...........................................           -       (.01)
                                                              --------   --------
   Net earnings attributable to common stock..............    $    .38   $    .36    5.4%
                                                              ========   ========

Weighted average common shares outstanding:
   Basic..................................................        238.9      238.1
   Diluted................................................        242.3      242.2
(a)  The quarter ended September 30, 2000 included a one-time charge of $2.2
     million, after tax, or $.01 per common share, attributable to the
     cumulative effect of adopting Statement of Financial Accounting Standards
     No. 133, "Accounting for Derivative Instruments and Hedging Activities."