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) :
                         August 15, 2002


                  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)

                   Commission File Number: 1-14064

                            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 August 15, 2002, The Estee Lauder Companies Inc. issued a press release
announcing its fiscal 2002 full year and fourth quarter results and its
estimated fiscal 2003 full year and first quarter 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:  August 15, 2002                    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 August 15, 2002 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


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

--------------------------------------------------------------------------------
FOR IMMEDIATE RELEASE:

       ESTEE LAUDER COMPANIES REPORTS FOURTH QUARTER AND FULL YEAR RESULTS;

        CONSTANT CURRENCY NET SALES FOR QUARTER UP 7%, FULL YEAR RISES 3%

New York, NY, August 15, 2002 - The Estee Lauder Companies Inc. (NYSE: EL) today
announced net sales for the fiscal year ended June 30, 2002 of $4.74 billion,  a
2% increase from $4.67 billion in the prior year.  Excluding the negative impact
of  foreign  currency  translation,  net  sales  increased  3%, in line with the
Company's  expectations.  The Company  achieved net  earnings of $289.4  million
before the  cumulative  effect of a change in  accounting  principle  and before
restructuring  charges for the 2002 fiscal year compared with $347.7  million in
the same  period  last  year.  Diluted  earnings  per  common  share  before the
cumulative effect of a change in accounting  principle and before  restructuring
charges for fiscal 2002 were $1.10  compared  with $1.34 in the prior year.  For
the fourth quarter ended June 30, 2002, the Company's net sales  increased 8% to
$1.13 billion, compared with $1.05 billion in the fourth quarter of fiscal 2001.
Excluding  the  positive  impact  of  foreign  currency  translation,  net sales
increased  7% in the quarter.  Net sales in the quarter  increased on a constant
currency  basis in all major  product  categories,  with  double-digit  gains in
makeup and hair care and low single-digit gains in skin care and fragrance.  Net
sales  increased  in each  geographic  region in  constant  currency,  with high
single-digit growth in the Americas and  mid-single-digit  growth in Europe, the
Middle  East & Africa  and  Asia/Pacific.  The  Company's  net  earnings  before
restructuring  charges were $51.5 million, or $.19 per diluted common share, for
the fourth  quarter.  In the same period last year,  the  Company  reported  net
earnings  before  restructuring  charges of $60.7  million,  or $.23 per diluted
share.  Including the one-time items,  the Company  reported a net loss of $25.4
million,  equal  to a loss of $.13  per  diluted  share  for the  fiscal  fourth
quarter. For the twelve months ended June 30,2002,  including the one-time items
net  earnings  and  diluted  earnings  per share were  $191.9  million and $.70,
respectively.
<PAGE>
Fred H. Langhammer,  President and Chief Executive  Officer,  said,  "Sustaining
sales  growth for the fiscal year just ended was quite an  accomplishment  given
the difficult retail environment that challenged our businesses and led to lower
overall results.  I am pleased at how our Company  responded to those challenges
with determination,  focusing on our core strengths and strategies. We continued
to be leaders in product innovation and have steadfastly  invested in our brands
to build momentum at retail,  producing a positive response from the market. "In
this new fiscal year we will continue to drive our businesses  operationally and
financially,  drawing from the breadth of our leading brands and the strength of
our  assets  and  our  employees.  We  are  expecting  to  benefit  from  a slow
revitalization  in global  economies,  particularly the U.S. We are committed to
building on our existing  strengths to enhance sales while being  disciplined in
reducing non-business-building costs."

Change in Accounting Principle and Restructuring Charges
--------------------------------------------------------

In fiscal 2002, the Company adopted Statement of Financial  Accounting Standards
No. 142,  "Goodwill and Other  Intangible  Assets." In  compliance  with the new
rule,  the  Company  recorded a one-time  charge of $20.6  million,  or $.08 per
diluted  share,  to reflect the  cumulative  effect of the change in  accounting
principle.  The  accounting  change  that  gave  rise to the  cumulative  effect
adjustment   in  fiscal  2002  also   resulted  in  the  exclusion  of  goodwill
amortization  in the  current-year  periods.  See the attached table and related
footnotes for additional  detail.  In connection  with the Company's  previously
announced restructuring, in the fiscal 2002 fourth quarter, the Company recorded
a special charge for  restructuring and repositioning  certain  businesses.  The
pre-tax charge totaled $117.4 million, or $76.9 million after-tax, equal to $.32
per diluted share.

Results by Product Category
---------------------------

Net sales of skin care  products  for the year rose 4% before  foreign  currency
translation and reported sales  increased 3% to $1.70 billion.  The higher sales
reflect the launches of Total  Turnaround  Visible Skin Renewer,  Moisture Surge
Extra and Moisture Surge Eye Gel from Clinique, as well as Advanced Night Repair
Eye Recovery Complex and LightSource  Transforming  Moisture Cream and Lotion by
Estee  Lauder and A Perfect  World White Tea Skin  Guardian  by  Origins.  These
increases were  partially  offset by lower sales of certain  existing  products.
Makeup  sales  for the year  rose 5%  before  the  impact  of  foreign  currency
translation.   Reported  sales   increased  4%  to  $1.79  billion,   fueled  by
double-digit growth from the Company's makeup artist brands,  M.A.C, Bobbi Brown
and Stila.  The launch of Gentle  Light  Makeup and  Powder  from  Clinique  and
Illusionist  Maximum Curling Mascara by Estee Lauder,  as well as the successful
domestic  rollout of the Pure Color Lips and Nails line and the global launch of
Pure Color Eyeshadow by Esee Lauder also contributed  positively to makeup sales
growth. Lower sales of certain existing products partially offset these positive
results.  Fragrance  sales decreased 6% compared to the prior year excluding the
impact of foreign  currency  translation.  On a reported basis,  fragrance sales
also declined 6% to $1.02 billion. The decrease
 <PAGE>
reflects  the overall  softness of the  fragrance  business  and weakness in the
Company's  travel  retail  business,  which depends  substantially  on fragrance
products. These negative factors are reflected in lower sales of DKNY for Women,
Estee  Lauder  pleasures  and  Beautiful  as  well  as  certain  Tommy  Hilfiger
fragrances.  The current year benefited from the launch of T by Tommy  Hilfiger,
Lauder Intuition for Men and Kate Spade Beauty,  and strong sales of Donna Karan
Cashmere Mist.  Sales of hair care products for the year rose 19% over the prior
year to $215.8 million.  The increase is primarily  attributable to double-digit
growth at Aveda and  Bumble  and bumble  due to new  products,  increased  salon
shipments and additional retail store and salon distribution. For the full year,
operating  income  declined  in  skin  care  and  makeup  reflecting   continued
advertising  and  promotional  spending  to promote  new and  recently  launched
products.  Fragrance  operating income  decreased  primarily due to lower sales,
particularly  high-margin  travel  retail  sales.  Hair  care  operating  income
increased slightly  reflecting higher sales offset by increased costs associated
with increased distribution.

Results by Geographic Region
----------------------------

In the Americas  region,  net sales for the year  increased 1% to $2.88 billion,
coming off 6% growth last year. The increase is primarily due to new and certain
existing  products and growth from most newer  brands,  offset by the  continued
soft retail  environment  in the U.S.  Operating  income in the region was lower
reflecting  soft sales and increased  investment in  advertising,  promotion and
newer  distribution  channels.  In Europe,  the Middle East & Africa,  net sales
increased 3% in local  currency  compared  with last fiscal year when the region
grew 17%. However, excluding the impact of the shortfall in the Company's travel
retail business reported in this region,  net sales in local currency  increased
9%. Most markets  experienced sales growth,  led by strong results in the United
Kingdom,  Spain, South Africa, and the Company's joint venture in Greece,  which
replaced  the prior  distributor  there.  The  region  posted a 3%  increase  in
reported net sales from the prior year to $1.26 billion. Operating profitability
decreased due in part to lower results in the travel retail business. On a local
currency basis, Asia/Pacific net sales increased 9% versus the prior year led by
strong  double-digit  sales  increases  in  Korea  and  Thailand,  as well as in
Australia,  which  benefited  from a  change  in  retailer  arrangements.  These
positive  results were  partially  offset by lower sales in Japan and Singapore.
Net sales in the  region on a reported  basis  increased  2% to $610.6  million,
primarily reflecting the weakness of the Japanese yen during the year. Operating
profit in the region declined  slightly  reflecting lower results in China, Hong
Kong and Singapore.  Operating income increased in Australia,  Korea and Taiwan,
while in Japan,  lower operating expenses as a percent of sales generated higher
results.

Chief Executive Officer and Chief Financial Officer Certifications
------------------------------------------------------------------

The Company  would like to remind  investors  that its most  recent  fiscal year
ended on June 30, 2002. Accordingly,  the Company's next periodic report will be
its annual report on Form 10-K.  The Company  expects to file that report before
the filing  deadline of  September  30,  2002 at which time the Chief  Executive
Officer and Chief Financial Officer will make their required
<PAGE>
certifications.  As required by the SEC, this timing is later than that required
of calendar-year  companies,  which must file certifications on or before August
14, 2002.

Estimate of Fiscal 2003 First-Quarter and Full-Year Results
-----------------------------------------------------------

Based on current economic assumptions,  the calendarization of our programs, and
business building activities,  the Company believes it will achieve sales growth
in every  fiscal  quarter  and  earnings  growth in its  second  through  fourth
quarters.  The Company  believes  the  economic  trends in the first  quarter of
fiscal 2003 will reflect soft but improving conditions.  Net sales for the first
fiscal  quarter are  expected to grow  between 2% and 3% on a constant  currency
basis versus last fiscal years first quarter. Geographic region net sales growth
in constant  currency is expected to be led by Europe,  the Middle East & Africa
and the Americas, while Asia/Pacific is expected to decline slightly, coming off
of a strong  double-digit  increase in last year's first  quarter.  On a product
category  basis, in constant  currency,  makeup and skin care are expected to be
the leading growth categories,  while fragrance and hair care sales are expected
to decline  versus the  prior-year.  The  positive  effect of exchange  rates in
Europe and Asia  could  increase  reported  sales  growth  for the fiscal  first
quarter by  approximately  1 to 2  percentage  points.  To further  build  sales
momentum,  the Company  expects a higher level of  advertising  and  promotional
expenses in the first quarter compared to the prior-year quarter.  Additionally,
the Company  expects a portion of  Christmas  orders to be shipped  early in the
fiscal second quarter rather than the first  quarter.  As a result,  the Company
expects to achieve  diluted  earnings per share of between $.25 and $.28 for the
first quarter.  Looking  towards the Company's  fiscal 2003  full-year  results,
based on its strategies in place,  current business plans,  current  information
about its business prospects and forecasted economic  conditions,  net sales are
expected to grow between 5% and 6% on a constant currency basis versus the prior
fiscal year. Despite expectations of a difficult retail environment, the Company
expects to drive growth through product  innovation,  distribution  enhancements
and  focused  program  execution.  The  Company  anticipates  that its  business
performance will accelerate during the fiscal year.  Geographic region net sales
growth in constant currency is anticipated to be led by Europe,  the Middle East
& Africa and the  Americas,  followed  by  Asia/Pacific.  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, skin care and fragrance.
The positive effect of exchange rates in Europe and Asia could increase reported
sales growth for the full fiscal year by approximately 1 to 2 percentage points.
The Company expects to achieve  diluted  earnings per share of between $1.28 and
$1.33 for the fiscal 2003 full year.

Forward-looking Statements
--------------------------

The forward-looking statements in this press release, including those containing
words like "will,"  "believes,"  "expect,"  "anticipate,"  "could,"  "plan," and
"estimate,"  those in Mr.  Langhammer's  remarks and those in the  "Estimate  of
Fiscal 2003  First-Quarter  and  Full-Year  Results"  section  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;

<PAGE>
     (ii)  the Company's ability to develop, produce and market new products on
           which future operating results may depend;
     (iii) consolidations, restructurings, bankruptcies and reorganizations  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's business;
    (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 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 which the Company may need 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 acquire or 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 capitalize on opportunities for improved
           efficiency, such as globalization, and 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, Bumble and bumble and Kate Spade.

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



                               Tables Follow


<PAGE>
                                          THE ESTEE LAUDER COMPANIES INC.
                                          SUMMARY OF CONSOLIDATED RESULTS
                                        (In millions, except per share data)

<TABLE>
<CAPTION>
                                                              Three Months Ended              Twelve Months Ended
                                                                    June 30        Percent          June 30       Percent
                                                              ------------------              ------------------
                                                                  2002      2001   Change       2002       2001    Change
                                                                  ----      ----   ------       ----       ----    ------
<S>                                                               <C>        <C>     <C>         <C>        <C>      <C>

Net Sales (A)(B)..........................................     $1,129.0   $1,047.2   7.8%      $4,743.7   $4,667.7    1.6%

Cost of sales (A)(B)......................................        266.5      240.1              1,273.4    1,226.4
                                                               --------   --------             --------   --------
Gross Profit..............................................        862.5      807.1   6.9%       3,470.3    3,441.3    0.8%
                                                               --------   --------             --------   --------
       Gross Margin.......................................         76.4%      77.1%                73.2%      73.7%

Operating expenses:
   Selling, general and administrative....................        783.5      716.0              3,002.0    2,869.2
   Restructuring (A)(B)...................................        110.4       37.6                110.4       37.6
   Other non-recurring expenses (B).......................          -         16.3                  -         16.3
   Related party royalties................................          4.7        3.7                 16.5       22.6
                                                               --------   --------             --------   --------
                                                                  898.6      773.6 (16.2)%      3,128.9    2,945.7   (6.2)%
                                                               --------   --------             --------   --------

       Operating Expense Margin...........................         79.6%      73.9%                66.0%      63.1%

Operating Income (Loss)...................................        (36.1)      33.5                341.4      495.6  (31.1)%
       Operating Income (Loss) Margin.....................         (3.2)%      3.2%                 7.2%      10.6%

Interest expense, net.....................................          1.5        0.9                  9.8       12.3
                                                               --------   --------             --------   --------

Earnings (Loss) before Income Taxes and Minority Interest.        (37.6)      32.6                331.6      483.3  (31.4)%

Provision for income taxes................................        (13.0)      11.7                114.4      174.0
Minority interest, net of tax.............................         (0.8)      (0.5)                (4.7)      (1.9)
                                                               --------   --------             --------   --------

Net Earnings (Loss) before Accounting Change (D)..........        (25.4)      20.4                212.5      307.4  (30.9)%
Cumulative effect of a change in accounting
   principle, net of tax (C)..............................           -         -                  (20.6)      (2.2)
                                                               --------   --------             --------   --------
Net Earnings (Loss) (A)(B)(C).............................        (25.4)      20.4                191.9      305.2

Preferred stock dividends.................................          5.8        5.8                 23.4       23.4
                                                               --------   --------             --------   --------

Net Earnings (Loss) Attributable to Common Stock..........    $   (31.2) $    14.6             $  168.5   $  281.8
                                                              =========  =========             ========   ========

Basic net earnings (loss) per common share:
   Net earnings (loss) attributable to common stock before
     accounting change....................................    $   (.13)  $    .06              $   0.79   $   1.19  (33.4)%
   Cumulative effect of a change in accounting principle,
   net of tax.............................................          -          -                   (.08)      (.01)
                                                              --------   --------              --------   --------
   Net earnings (loss) attributable to common stock.......    $   (.13)  $    .06              $   0.71   $   1.18  (40.2)%
                                                              ========   ========              ========   ========

Diluted net earnings (loss) per common share:
   Net earnings (loss) attributable to common stock before
     accounting change (D)................................    $   (.13)  $    .06              $   0.78   $   1.17  (33.1)%
   Cumulative effect of a change in accounting principle,
   net of tax.............................................         -           -                   (.08)      (.01)
                                                              --------   --------              --------   --------
   Net earnings (loss) attributable to common stock.......    $   (.13)  $    .06              $   0.70   $   1.16  (39.1)%
                                                              ========   ========              ========   ========

Weighted average common shares outstanding:
   Basic..................................................        237.8      238.4                238.2      238.4
   Diluted................................................        237.8      242.0                241.1      242.2
</TABLE>

The Summary of Consolidated  Results has been reported to retroactively  include
reclassifications  for all periods  presented,  pursuant to the adoption of EITF
No. 01-9,  "Accounting for Consideration Given by a Vendor to a Customer," which
was adopted effective  January 1, 2002. For more information,  see the Company's
press release dated April 16, 2002 filed that day as an exhibit to the Company's
Form 8-K.

<PAGE>
                                          THE ESTEE LAUDER COMPANIES INC.
                                          SUMMARY OF CONSOLIDATED RESULTS
                                       (In millions, except per share data)

(A) The current fiscal year periods  include  pre-tax  restructuring  charges of
$117.4 million, or $76.9 million after-tax,  equal to $.32 per diluted share, in
connection  with cost reduction  opportunities  related to the Internet,  supply
chain,  globalization of the organization and distribution  channel refinements.
The  following  sets forth a  reconciliation  of certain  statement  of earnings
accounts before and after one-time items:
<TABLE>
<CAPTION>
                                                                           Three Months Ended June 30, 2002
                                                                           --------------------------------


                                                                                                                  % Change
                                                                                                               Before Charges
                                                                               One-Time        Before One-          versus
                                                             As Reported        Charges       Time Charges        Prior Year
                                                             -----------        -------       ------------        ----------
<S>                                                                <C>            <C>              <C>                <C>

Net Sales.................................................     $1,129.0           $6.2         $1,135.2              7.6%
Cost of sales.............................................        266.5            0.8            265.7
                                                               --------          -----         --------
Gross Profit..............................................        862.5            7.0            869.5              6.5%
                                                               --------          -----         --------
       Gross Margin.......................................         76.4%                           76.6%

Operating Expenses........................................        898.6          110.4            788.2              9.5%
                                                               --------          -----         --------
       Operating Expense Margin...........................         79.6%                           69.4%

Operating Income (Loss)...................................        (36.1)         117.4             81.3            (15.8)%
       Operating Income (Loss) Margin.....................         (3.2)%                           7.2%

Provision (benefit) for income taxes......................        (13.0)         (40.5)            27.5
Net Earnings (Loss).......................................     $  (25.4)        $ 76.9          $  51.5            (15.2)%

Diluted net earnings (loss) per share.....................     $   (.13)        $  .32          $   .19            (17.4)%

</TABLE>
<TABLE>
<CAPTION>

                                                                              Year Ended June 30, 2002
                                                                              ------------------------
                                                                                                                  % Change
                                                                                                              Before Charges
                                                                              One-Time         Before One-          versus
                                                             As Reported        Charges       Time Charges        Prior Year
                                                             -----------        -------       ------------        ----------
<S>                                                              <C>              <C>             <C>                 <C>

Net Sales.................................................     $4,743.7           $6.2         $4,749.9              1.6%
Cost of sales.............................................      1,273.4            0.8          1,272.6
                                                               --------          -----         --------
Gross Profit..............................................      3,470.3            7.0          3,477.3              0.8%
                                                               --------          -----         --------
       Gross Margin.......................................         73.2%                           73.2%

Operating Expenses........................................      3,128.9          110.4          3,018.5              4.4%
                                                               --------          -----         --------
       Operating Expense Margin...........................         66.0%                           63.5%

Operating Income..........................................        341.4          117.4            458.8            (17.9)%
       Operating Income Margin............................          7.2%                            9.7%

Provision (benefit) for income taxes......................        114.4          (40.5)           154.9
Net Earnings before Accounting Change.....................     $  212.5         $ 76.9         $  289.4            (16.8)%

Diluted net earnings per share before accounting change...      $   .78         $  .32         $   1.10            (17.9)%

</TABLE>



<PAGE>
                                          THE ESTEE LAUDER COMPANIES INC.
                                          SUMMARY OF CONSOLIDATED RESULTS
                                        (In millions, except per share data)

(B) The 2001  fiscal  year  periods  include  pre-tax  restructuring  and  other
one-time charges of $63.0 million, or $40.3 million after-tax, equal to $.17 per
diluted  share,  in connection  with the  modification  of fixtures for the jane
brand,  the closure of unprofitable  tommy's shops,  the elimination of impaired
systems and other assets,  and the  reorganization of the Company's global brand
structure.  The following sets forth a  reconciliation  of certain  statement of
earnings accounts before and after one-time items:
<TABLE>
<CAPTION>

                                                                           Three Months Ended June 30, 2001
                                                                           --------------------------------
                                                                                                                  % Change
                                                                                                              Before Charges
                                                                              One-Time         Before One-          versus
                                                             As Reported        Charges       Time Charges        Prior Year
                                                             -----------        -------       ------------        ----------
<S>                                                             <C>               <C>              <C>               <C>

Net Sales.................................................     $1,047.2           $8.0         $1,055.2              4.7%
Cost of sales.............................................        240.1            1.1            239.0
                                                               --------           ----         --------
Gross Profit..............................................        807.1            9.1            816.2              6.0%
                                                               --------           ----         --------
       Gross Margin.......................................         77.1%                           77.4%

Operating Expenses........................................        773.6           53.9            719.7              6.4%
                                                               --------           ----         --------
       Operating Expense Margin...........................         73.9%                           68.2%

Operating Income..........................................         33.5           63.0             96.5              2.9%
       Operating Income Margin............................          3.2%                            9.1%

Provision (benefit) for income taxes......................         11.7          (22.7)            34.4
Net Earnings .............................................      $  20.4         $ 40.3          $  60.7              6.1%
Diluted net earnings per share............................      $   .06         $  .17          $   .23              6.9%
</TABLE>
<TABLE>
<CAPTION>

                                                                              Year Ended June 30, 2001
                                                                              ------------------------
                                                                                                                  % Change
                                                                                                              Before Charges
                                                                              One-Time         Before One-          versus
                                                             As Reported        Charges       Time Charges        Prior Year
                                                             -----------        -------       ------------        ----------
<S>                                                               <C>              <C>               <C>             <C>

Net Sales.................................................     $4,667.7           $8.0         $4,675.7              5.3%
Cost of sales.............................................      1,226.4            1.1          1,225.3
                                                               --------           ----         --------
Gross Profit..............................................      3,441.3            9.1          3,450.4              7.7%
                                                               --------           ----         --------
       Gross Margin.......................................         73.7%                           73.8%

Operating Expenses........................................      2,945.7           53.9          2,891.8              7.6%
                                                               --------           ----         --------
       Operating Expense Margin...........................         63.1%                           61.8%

Operating Income..........................................        495.6           63.0            558.6              8.3%
       Operating Income Margin............................         10.6%                           11.9%

Provision (benefit) for income taxes......................        174.0          (22.7)           196.7
Net Earnings before Accounting Change.....................     $  307.4         $ 40.3         $  347.7             10.7%
Diluted net earnings per share before accounting change...     $   1.17         $  .17         $   1.34             11.7%
</TABLE>

(C) The year ended June 30, 2002 included a one-time charge of $20.6 million, or
$.08 per  common  share,  attributable  to the  cumulative  effect  of  adopting
Statement of Financial  Accounting  Standards  ("SFAS") No. 142,  "Goodwill  and
Other  Intangible  Assets."  The year  ended June 30,  2001  included a one-time
charge of $2.2 million, after tax, or $.01 per common share, attributable to the
cumulative  effect  of  adopting  SFAS  No.  133,   "Accounting  for  Derivative
Instruments  and  Hedging  Activities."  (D) The  adoption  of SFAS No. 142 also
resulted in the exclusion of goodwill  amortization in the current-year periods.
If the  provisions  of this rule were  applied  retroactively,  net earnings and
diluted  earnings per share  attributable  to common stock before the accounting
change for the three and twelve months ended June 30, 2001 would have been $18.1
million,  $297.4  million,  $.07  and  $1.23,  respectively.  Additionally,  net
earnings and diluted earnings per share  attributable to common stock before the
accounting  change  and  before the  one-time  charges  for the three and twelve
months ended June 30, 2001 would have been $58.4 million,  $337.7 million,  $.24
and $1.39, respectively
                                                       # # #
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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": "02740342"}, "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) :
                         August 15, 2002

                  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)

                   Commission File Number: 1-14064

                            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 August 15, 2002, The Estee Lauder Companies Inc. issued a press release
announcing its fiscal 2002 full year and fourth quarter results and its
estimated fiscal 2003 full year and first quarter 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:  August 15, 2002                    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 August 15, 2002 of the Estee Lauder Companies Inc.
Exhibit 99.1

The                                                          News
Estee                                                        Contact:
Lauder                                                       Investor Relations:
Companies Inc.                                               Dennis D'Andrea
                                                             (212) 572-4384

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

--------------------------------------------------------------------------------
FOR IMMEDIATE RELEASE:

       ESTEE LAUDER COMPANIES REPORTS FOURTH QUARTER AND FULL YEAR RESULTS;

        CONSTANT CURRENCY NET SALES FOR QUARTER UP 7%, FULL YEAR RISES 3%

New York, NY, August 15, 2002 - The Estee Lauder Companies Inc. (NYSE: EL) today
announced net sales for the fiscal year ended June 30, 2002 of $4.74 billion,  a
2% increase from $4.67 billion in the prior year.  Excluding the negative impact
of  foreign  currency  translation,  net  sales  increased  3%, in line with the
Company's  expectations.  The Company  achieved net  earnings of $289.4  million
before the  cumulative  effect of a change in  accounting  principle  and before
restructuring  charges for the 2002 fiscal year compared with $347.7  million in
the same  period  last  year.  Diluted  earnings  per  common  share  before the
cumulative effect of a change in accounting  principle and before  restructuring
charges for fiscal 2002 were $1.10  compared  with $1.34 in the prior year.  For
the fourth quarter ended June 30, 2002, the Company's net sales  increased 8% to
$1.13 billion, compared with $1.05 billion in the fourth quarter of fiscal 2001.
Excluding  the  positive  impact  of  foreign  currency  translation,  net sales
increased  7% in the quarter.  Net sales in the quarter  increased on a constant
currency  basis in all major  product  categories,  with  double-digit  gains in
makeup and hair care and low single-digit gains in skin care and fragrance.  Net
sales  increased  in each  geographic  region in  constant  currency,  with high
single-digit growth in the Americas and  mid-single-digit  growth in Europe, the
Middle  East & Africa  and  Asia/Pacific.  The  Company's  net  earnings  before
restructuring  charges were $51.5 million, or $.19 per diluted common share, for
the fourth  quarter.  In the same period last year,  the  Company  reported  net
earnings  before  restructuring  charges of $60.7  million,  or $.23 per diluted
share.  Including the one-time items,  the Company  reported a net loss of $25.4
million,  equal  to a loss of $.13  per  diluted  share  for the  fiscal  fourth
quarter. For the twelve months ended June 30,2002,  including the one-time items
net  earnings  and  diluted  earnings  per share were  $191.9  million and $.70,
respectively.
Fred H. Langhammer,  President and Chief Executive  Officer,  said,  "Sustaining
sales  growth for the fiscal year just ended was quite an  accomplishment  given
the difficult retail environment that challenged our businesses and led to lower
overall results.  I am pleased at how our Company  responded to those challenges
with determination,  focusing on our core strengths and strategies. We continued
to be leaders in product innovation and have steadfastly  invested in our brands
to build momentum at retail,  producing a positive response from the market. "In
this new fiscal year we will continue to drive our businesses  operationally and
financially,  drawing from the breadth of our leading brands and the strength of
our  assets  and  our  employees.  We  are  expecting  to  benefit  from  a slow
revitalization  in global  economies,  particularly the U.S. We are committed to
building on our existing  strengths to enhance sales while being  disciplined in
reducing non-business-building costs."

Change in Accounting Principle and Restructuring Charges
--------------------------------------------------------

In fiscal 2002, the Company adopted Statement of Financial  Accounting Standards
No. 142,  "Goodwill and Other  Intangible  Assets." In  compliance  with the new
rule,  the  Company  recorded a one-time  charge of $20.6  million,  or $.08 per
diluted  share,  to reflect the  cumulative  effect of the change in  accounting
principle.  The  accounting  change  that  gave  rise to the  cumulative  effect
adjustment   in  fiscal  2002  also   resulted  in  the  exclusion  of  goodwill
amortization  in the  current-year  periods.  See the attached table and related
footnotes for additional  detail.  In connection  with the Company's  previously
announced restructuring, in the fiscal 2002 fourth quarter, the Company recorded
a special charge for  restructuring and repositioning  certain  businesses.  The
pre-tax charge totaled $117.4 million, or $76.9 million after-tax, equal to $.32
per diluted share.

Results by Product Category
---------------------------

Net sales of skin care  products  for the year rose 4% before  foreign  currency
translation and reported sales  increased 3% to $1.70 billion.  The higher sales
reflect the launches of Total  Turnaround  Visible Skin Renewer,  Moisture Surge
Extra and Moisture Surge Eye Gel from Clinique, as well as Advanced Night Repair
Eye Recovery Complex and LightSource  Transforming  Moisture Cream and Lotion by
Estee  Lauder and A Perfect  World White Tea Skin  Guardian  by  Origins.  These
increases were  partially  offset by lower sales of certain  existing  products.
Makeup  sales  for the year  rose 5%  before  the  impact  of  foreign  currency
translation.   Reported  sales   increased  4%  to  $1.79  billion,   fueled  by
double-digit growth from the Company's makeup artist brands,  M.A.C, Bobbi Brown
and Stila.  The launch of Gentle  Light  Makeup and  Powder  from  Clinique  and
Illusionist  Maximum Curling Mascara by Estee Lauder,  as well as the successful
domestic  rollout of the Pure Color Lips and Nails line and the global launch of
Pure Color Eyeshadow by Esee Lauder also contributed  positively to makeup sales
growth. Lower sales of certain existing products partially offset these positive
results.  Fragrance  sales decreased 6% compared to the prior year excluding the
impact of foreign  currency  translation.  On a reported basis,  fragrance sales
also declined 6% to $1.02 billion. The decrease
reflects  the overall  softness of the  fragrance  business  and weakness in the
Company's  travel  retail  business,  which depends  substantially  on fragrance
products. These negative factors are reflected in lower sales of DKNY for Women,
Estee  Lauder  pleasures  and  Beautiful  as  well  as  certain  Tommy  Hilfiger
fragrances.  The current year benefited from the launch of T by Tommy  Hilfiger,
Lauder Intuition for Men and Kate Spade Beauty,  and strong sales of Donna Karan
Cashmere Mist.  Sales of hair care products for the year rose 19% over the prior
year to $215.8 million.  The increase is primarily  attributable to double-digit
growth at Aveda and  Bumble  and bumble  due to new  products,  increased  salon
shipments and additional retail store and salon distribution. For the full year,
operating  income  declined  in  skin  care  and  makeup  reflecting   continued
advertising  and  promotional  spending  to promote  new and  recently  launched
products.  Fragrance  operating income  decreased  primarily due to lower sales,
particularly  high-margin  travel  retail  sales.  Hair  care  operating  income
increased slightly  reflecting higher sales offset by increased costs associated
with increased distribution.

Results by Geographic Region
----------------------------

In the Americas  region,  net sales for the year  increased 1% to $2.88 billion,
coming off 6% growth last year. The increase is primarily due to new and certain
existing  products and growth from most newer  brands,  offset by the  continued
soft retail  environment  in the U.S.  Operating  income in the region was lower
reflecting  soft sales and increased  investment in  advertising,  promotion and
newer  distribution  channels.  In Europe,  the Middle East & Africa,  net sales
increased 3% in local  currency  compared  with last fiscal year when the region
grew 17%. However, excluding the impact of the shortfall in the Company's travel
retail business reported in this region,  net sales in local currency  increased
9%. Most markets  experienced sales growth,  led by strong results in the United
Kingdom,  Spain, South Africa, and the Company's joint venture in Greece,  which
replaced  the prior  distributor  there.  The  region  posted a 3%  increase  in
reported net sales from the prior year to $1.26 billion. Operating profitability
decreased due in part to lower results in the travel retail business. On a local
currency basis, Asia/Pacific net sales increased 9% versus the prior year led by
strong  double-digit  sales  increases  in  Korea  and  Thailand,  as well as in
Australia,  which  benefited  from a  change  in  retailer  arrangements.  These
positive  results were  partially  offset by lower sales in Japan and Singapore.
Net sales in the  region on a reported  basis  increased  2% to $610.6  million,
primarily reflecting the weakness of the Japanese yen during the year. Operating
profit in the region declined  slightly  reflecting lower results in China, Hong
Kong and Singapore.  Operating income increased in Australia,  Korea and Taiwan,
while in Japan,  lower operating expenses as a percent of sales generated higher
results.

Chief Executive Officer and Chief Financial Officer Certifications
------------------------------------------------------------------

The Company  would like to remind  investors  that its most  recent  fiscal year
ended on June 30, 2002. Accordingly,  the Company's next periodic report will be
its annual report on Form 10-K.  The Company  expects to file that report before
the filing  deadline of  September  30,  2002 at which time the Chief  Executive
Officer and Chief Financial Officer will make their required
certifications.  As required by the SEC, this timing is later than that required
of calendar-year  companies,  which must file certifications on or before August
14, 2002.

Estimate of Fiscal 2003 First-Quarter and Full-Year Results
-----------------------------------------------------------

Based on current economic assumptions,  the calendarization of our programs, and
business building activities,  the Company believes it will achieve sales growth
in every  fiscal  quarter  and  earnings  growth in its  second  through  fourth
quarters.  The Company  believes  the  economic  trends in the first  quarter of
fiscal 2003 will reflect soft but improving conditions.  Net sales for the first
fiscal  quarter are  expected to grow  between 2% and 3% on a constant  currency
basis versus last fiscal years first quarter. Geographic region net sales growth
in constant  currency is expected to be led by Europe,  the Middle East & Africa
and the Americas, while Asia/Pacific is expected to decline slightly, coming off
of a strong  double-digit  increase in last year's first  quarter.  On a product
category  basis, in constant  currency,  makeup and skin care are expected to be
the leading growth categories,  while fragrance and hair care sales are expected
to decline  versus the  prior-year.  The  positive  effect of exchange  rates in
Europe and Asia  could  increase  reported  sales  growth  for the fiscal  first
quarter by  approximately  1 to 2  percentage  points.  To further  build  sales
momentum,  the Company  expects a higher level of  advertising  and  promotional
expenses in the first quarter compared to the prior-year quarter.  Additionally,
the Company  expects a portion of  Christmas  orders to be shipped  early in the
fiscal second quarter rather than the first  quarter.  As a result,  the Company
expects to achieve  diluted  earnings per share of between $.25 and $.28 for the
first quarter.  Looking  towards the Company's  fiscal 2003  full-year  results,
based on its strategies in place,  current business plans,  current  information
about its business prospects and forecasted economic  conditions,  net sales are
expected to grow between 5% and 6% on a constant currency basis versus the prior
fiscal year. Despite expectations of a difficult retail environment, the Company
expects to drive growth through product  innovation,  distribution  enhancements
and  focused  program  execution.  The  Company  anticipates  that its  business
performance will accelerate during the fiscal year.  Geographic region net sales
growth in constant currency is anticipated to be led by Europe,  the Middle East
& Africa and the  Americas,  followed  by  Asia/Pacific.  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, skin care and fragrance.
The positive effect of exchange rates in Europe and Asia could increase reported
sales growth for the full fiscal year by approximately 1 to 2 percentage points.
The Company expects to achieve  diluted  earnings per share of between $1.28 and
$1.33 for the fiscal 2003 full year.

Forward-looking Statements
--------------------------

The forward-looking statements in this press release, including those containing
words like "will,"  "believes,"  "expect,"  "anticipate,"  "could,"  "plan," and
"estimate,"  those in Mr.  Langhammer's  remarks and those in the  "Estimate  of
Fiscal 2003  First-Quarter  and  Full-Year  Results"  section  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, restructurings, bankruptcies and reorganizations  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's business;
    (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 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 which the Company may need 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 acquire or 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 capitalize on opportunities for improved
           efficiency, such as globalization, and 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, Bumble and bumble and Kate Spade.

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

                               Tables Follow
THE ESTEE LAUDER COMPANIES INC.
                                          SUMMARY OF CONSOLIDATED RESULTS
                                        (In millions, except per share data)
Three Months Ended              Twelve Months Ended
                                                                    June 30        Percent          June 30       Percent
                                                              ------------------              ------------------
                                                                  2002      2001   Change       2002       2001    Change
                                                                  ----      ----   ------       ----       ----    ------
Net Sales (A)(B)..........................................     $1,129.0   $1,047.2   7.8%      $4,743.7   $4,667.7    1.6%

Cost of sales (A)(B)......................................        266.5      240.1              1,273.4    1,226.4
                                                               --------   --------             --------   --------
Gross Profit..............................................        862.5      807.1   6.9%       3,470.3    3,441.3    0.8%
                                                               --------   --------             --------   --------
       Gross Margin.......................................         76.4%      77.1%                73.2%      73.7%

Operating expenses:
   Selling, general and administrative....................        783.5      716.0              3,002.0    2,869.2
   Restructuring (A)(B)...................................        110.4       37.6                110.4       37.6
   Other non-recurring expenses (B).......................          -         16.3                  -         16.3
   Related party royalties................................          4.7        3.7                 16.5       22.6
                                                               --------   --------             --------   --------
                                                                  898.6      773.6 (16.2)%      3,128.9    2,945.7   (6.2)%
                                                               --------   --------             --------   --------

       Operating Expense Margin...........................         79.6%      73.9%                66.0%      63.1%

Operating Income (Loss)...................................        (36.1)      33.5                341.4      495.6  (31.1)%
       Operating Income (Loss) Margin.....................         (3.2)%      3.2%                 7.2%      10.6%

Interest expense, net.....................................          1.5        0.9                  9.8       12.3
                                                               --------   --------             --------   --------

Earnings (Loss) before Income Taxes and Minority Interest.        (37.6)      32.6                331.6      483.3  (31.4)%

Provision for income taxes................................        (13.0)      11.7                114.4      174.0
Minority interest, net of tax.............................         (0.8)      (0.5)                (4.7)      (1.9)
                                                               --------   --------             --------   --------

Net Earnings (Loss) before Accounting Change (D)..........        (25.4)      20.4                212.5      307.4  (30.9)%
Cumulative effect of a change in accounting
   principle, net of tax (C)..............................           -         -                  (20.6)      (2.2)
                                                               --------   --------             --------   --------
Net Earnings (Loss) (A)(B)(C).............................        (25.4)      20.4                191.9      305.2

Preferred stock dividends.................................          5.8        5.8                 23.4       23.4
                                                               --------   --------             --------   --------

Net Earnings (Loss) Attributable to Common Stock..........    $   (31.2) $    14.6             $  168.5   $  281.8
                                                              =========  =========             ========   ========

Basic net earnings (loss) per common share:
   Net earnings (loss) attributable to common stock before
     accounting change....................................    $   (.13)  $    .06              $   0.79   $   1.19  (33.4)%
   Cumulative effect of a change in accounting principle,
   net of tax.............................................          -          -                   (.08)      (.01)
                                                              --------   --------              --------   --------
   Net earnings (loss) attributable to common stock.......    $   (.13)  $    .06              $   0.71   $   1.18  (40.2)%
                                                              ========   ========              ========   ========

Diluted net earnings (loss) per common share:
   Net earnings (loss) attributable to common stock before
     accounting change (D)................................    $   (.13)  $    .06              $   0.78   $   1.17  (33.1)%
   Cumulative effect of a change in accounting principle,
   net of tax.............................................         -           -                   (.08)      (.01)
                                                              --------   --------              --------   --------
   Net earnings (loss) attributable to common stock.......    $   (.13)  $    .06              $   0.70   $   1.16  (39.1)%
                                                              ========   ========              ========   ========

Weighted average common shares outstanding:
   Basic..................................................        237.8      238.4                238.2      238.4
   Diluted................................................        237.8      242.0                241.1      242.2
The Summary of Consolidated  Results has been reported to retroactively  include
reclassifications  for all periods  presented,  pursuant to the adoption of EITF
No. 01-9,  "Accounting for Consideration Given by a Vendor to a Customer," which
was adopted effective  January 1, 2002. For more information,  see the Company's
press release dated April 16, 2002 filed that day as an exhibit to the Company's
Form 8-K.
THE ESTEE LAUDER COMPANIES INC.
                                          SUMMARY OF CONSOLIDATED RESULTS
                                       (In millions, except per share data)

(A) The current fiscal year periods  include  pre-tax  restructuring  charges of
$117.4 million, or $76.9 million after-tax,  equal to $.32 per diluted share, in
connection  with cost reduction  opportunities  related to the Internet,  supply
chain,  globalization of the organization and distribution  channel refinements.
The  following  sets forth a  reconciliation  of certain  statement  of earnings
accounts before and after one-time items:
Three Months Ended June 30, 2002
                                                                           --------------------------------

                                                                                                                  % Change
                                                                                                               Before Charges
                                                                               One-Time        Before One-          versus
                                                             As Reported        Charges       Time Charges        Prior Year
                                                             -----------        -------       ------------        ----------
Net Sales.................................................     $1,129.0           $6.2         $1,135.2              7.6%
Cost of sales.............................................        266.5            0.8            265.7
                                                               --------          -----         --------
Gross Profit..............................................        862.5            7.0            869.5              6.5%
                                                               --------          -----         --------
       Gross Margin.......................................         76.4%                           76.6%

Operating Expenses........................................        898.6          110.4            788.2              9.5%
                                                               --------          -----         --------
       Operating Expense Margin...........................         79.6%                           69.4%

Operating Income (Loss)...................................        (36.1)         117.4             81.3            (15.8)%
       Operating Income (Loss) Margin.....................         (3.2)%                           7.2%

Provision (benefit) for income taxes......................        (13.0)         (40.5)            27.5
Net Earnings (Loss).......................................     $  (25.4)        $ 76.9          $  51.5            (15.2)%

Diluted net earnings (loss) per share.....................     $   (.13)        $  .32          $   .19            (17.4)%
Year Ended June 30, 2002
                                                                              ------------------------
                                                                                                                  % Change
                                                                                                              Before Charges
                                                                              One-Time         Before One-          versus
                                                             As Reported        Charges       Time Charges        Prior Year
                                                             -----------        -------       ------------        ----------
Net Sales.................................................     $4,743.7           $6.2         $4,749.9              1.6%
Cost of sales.............................................      1,273.4            0.8          1,272.6
                                                               --------          -----         --------
Gross Profit..............................................      3,470.3            7.0          3,477.3              0.8%
                                                               --------          -----         --------
       Gross Margin.......................................         73.2%                           73.2%

Operating Expenses........................................      3,128.9          110.4          3,018.5              4.4%
                                                               --------          -----         --------
       Operating Expense Margin...........................         66.0%                           63.5%

Operating Income..........................................        341.4          117.4            458.8            (17.9)%
       Operating Income Margin............................          7.2%                            9.7%

Provision (benefit) for income taxes......................        114.4          (40.5)           154.9
Net Earnings before Accounting Change.....................     $  212.5         $ 76.9         $  289.4            (16.8)%

Diluted net earnings per share before accounting change...      $   .78         $  .32         $   1.10            (17.9)%
THE ESTEE LAUDER COMPANIES INC.
                                          SUMMARY OF CONSOLIDATED RESULTS
                                        (In millions, except per share data)

(B) The 2001  fiscal  year  periods  include  pre-tax  restructuring  and  other
one-time charges of $63.0 million, or $40.3 million after-tax, equal to $.17 per
diluted  share,  in connection  with the  modification  of fixtures for the jane
brand,  the closure of unprofitable  tommy's shops,  the elimination of impaired
systems and other assets,  and the  reorganization of the Company's global brand
structure.  The following sets forth a  reconciliation  of certain  statement of
earnings accounts before and after one-time items:
Three Months Ended June 30, 2001
                                                                           --------------------------------
                                                                                                                  % Change
                                                                                                              Before Charges
                                                                              One-Time         Before One-          versus
                                                             As Reported        Charges       Time Charges        Prior Year
                                                             -----------        -------       ------------        ----------
Net Sales.................................................     $1,047.2           $8.0         $1,055.2              4.7%
Cost of sales.............................................        240.1            1.1            239.0
                                                               --------           ----         --------
Gross Profit..............................................        807.1            9.1            816.2              6.0%
                                                               --------           ----         --------
       Gross Margin.......................................         77.1%                           77.4%

Operating Expenses........................................        773.6           53.9            719.7              6.4%
                                                               --------           ----         --------
       Operating Expense Margin...........................         73.9%                           68.2%

Operating Income..........................................         33.5           63.0             96.5              2.9%
       Operating Income Margin............................          3.2%                            9.1%

Provision (benefit) for income taxes......................         11.7          (22.7)            34.4
Net Earnings .............................................      $  20.4         $ 40.3          $  60.7              6.1%
Diluted net earnings per share............................      $   .06         $  .17          $   .23              6.9%
Year Ended June 30, 2001
                                                                              ------------------------
                                                                                                                  % Change
                                                                                                              Before Charges
                                                                              One-Time         Before One-          versus
                                                             As Reported        Charges       Time Charges        Prior Year
                                                             -----------        -------       ------------        ----------
Net Sales.................................................     $4,667.7           $8.0         $4,675.7              5.3%
Cost of sales.............................................      1,226.4            1.1          1,225.3
                                                               --------           ----         --------
Gross Profit..............................................      3,441.3            9.1          3,450.4              7.7%
                                                               --------           ----         --------
       Gross Margin.......................................         73.7%                           73.8%

Operating Expenses........................................      2,945.7           53.9          2,891.8              7.6%
                                                               --------           ----         --------
       Operating Expense Margin...........................         63.1%                           61.8%

Operating Income..........................................        495.6           63.0            558.6              8.3%
       Operating Income Margin............................         10.6%                           11.9%

Provision (benefit) for income taxes......................        174.0          (22.7)           196.7
Net Earnings before Accounting Change.....................     $  307.4         $ 40.3         $  347.7             10.7%
Diluted net earnings per share before accounting change...     $   1.17         $  .17         $   1.34             11.7%
(C) The year ended June 30, 2002 included a one-time charge of $20.6 million, or
$.08 per  common  share,  attributable  to the  cumulative  effect  of  adopting
Statement of Financial  Accounting  Standards  ("SFAS") No. 142,  "Goodwill  and
Other  Intangible  Assets."  The year  ended June 30,  2001  included a one-time
charge of $2.2 million, after tax, or $.01 per common share, attributable to the
cumulative  effect  of  adopting  SFAS  No.  133,   "Accounting  for  Derivative
Instruments  and  Hedging  Activities."  (D) The  adoption  of SFAS No. 142 also
resulted in the exclusion of goodwill  amortization in the current-year periods.
If the  provisions  of this rule were  applied  retroactively,  net earnings and
diluted  earnings per share  attributable  to common stock before the accounting
change for the three and twelve months ended June 30, 2001 would have been $18.1
million,  $297.4  million,  $.07  and  $1.23,  respectively.  Additionally,  net
earnings and diluted earnings per share  attributable to common stock before the
accounting  change  and  before the  one-time  charges  for the three and twelve
months ended June 30, 2001 would have been $58.4 million,  $337.7 million,  $.24
and $1.39, respectively
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