Cosmair Takes New Name: L'Oreal USA

NEW YORK--(BUSINESS WIRE via COLLEGIATE PRESSWIRE)--June 26, 2000--In a move that launches a L`Oreal corporate brand in the United States, Cosmair, Inc., the beauty leader in the U.S., today changed its name to L`Oreal USA, Inc., announced Guy Peyrelongue, president and CEO.

''Over the years we have built L`Oreal USA into the leading beauty company in America,'' said Peyrelongue. ''Despite this accomplishment, many people still do not know who we are. By changing our name from Cosmair to L`Oreal USA we will enjoy immediate brand recognition for outstanding achievement in beauty and technology.''

According to Peyrelongue, the company name change is part of a strategy directed by worldwide L`Oreal S.A. Chairman and CEO Lindsay Owen-Jones to build the corporate identity in every country behind one, recognizable name. This effort will also directly identify each subsidiary with the company`s actual stock name (Paris Bourse).

''We offer a unique opportunity of choices to customers with our diverse portfolio of brands,'' said Peyrelongue. ''L`Oreal USA fully encompasses all aspects of beauty no matter who or where you are.''

Cosmair, Inc. was established in 1953. Over the years, it built many successes in every category and distribution channel within the cosmetics industry. In 1999, L`Oreal USA had annual sales of more than
$2.6 billion on a prestigious brand portfolio that included L`Oreal Paris, Lancome, Maybelline, Redken 5th Avenue, Ralph Lauren Fragrances, Giorgio Armani Parfums, Soft Sheen, Helena Rubinstein,
Biotherm, Cacharel Fragrances and others. L`Oreal USA has continued building its leadership position this year with the announced acquisition of Kiehl`s Since 1851 and Matrix Essentials.

A website (www.lorealusa.com) will be launched simultaneously with the change in corporate name. The new website will not only introduce L`Oreal USA`s corporate profile to the Internet community, but it also provides an online method for applying for a job with the company.

''Our aim is to offer the most exciting careers in beauty,'' continued Peyrelongue. ''Our doors are open to new talent with fresh and unconventional ideas.''

L`Oreal USA is a wholly owned subsidiary of L`Oreal S.A. of Paris. L`Oreal S.A. is the world`s largest cosmetics company, with 1999 consolidated sales of Euro 10.7 billion. Operating in more than 150
countries and employing more than 42,000 people, L`Oreal Group companies manufacture and market such well known brands as L`Oreal, L`Oreal Professionnel, Lancome, Maybelline, Laboratoires Garnier,
Redken 5th Ave., Soft Sheen, Ralph Lauren Fragrances, Giorgio Armani Parfums, Biotherm and Helena Rubinstein.

L`Oreal USA, Inc. is headquartered in New York City and manages U.S. research, administration, and manufacturing and distribution facilities in New Jersey, Kentucky, Arkansas, Illinois and Colorado,
as well as in the Caribbean.