Colgate’s Board Authorizes New 50 Million Share Repurchase Program

Reflecting the Company’s positive outlook, Colgate-Palmolive Company’s Board of Directors today authorized a new share repurchase program providing for the repurchase of up to 50 million common shares. Pursuant to the authorization, the Company currently expects to purchase 50 million common shares over the next two to three years. The shares may be purchased in the open-market or privately negotiated transactions. As of June 30, 2011, the Company had approximately 486 million shares of common stock outstanding.

Ian Cook, Chairman, President and Chief Executive Officer, said: “We are pleased that our excellent cash generation worldwide will enable us to maintain our strong balance sheet and launch a new share repurchase program.”

About Colgate-Palmolive: Colgate-Palmolive is a leading global consumer products company, tightly focused on Oral Care, Personal Care, Home Care and Pet Nutrition. Colgate sells its products in over 200 countries and territories around the world under such internationally recognized brand names as Colgate, Palmolive, Mennen, Softsoap, Irish Spring, Protex, Sorriso, Kolynos, elmex, Tom’s of Maine, Sanex, Ajax, Axion, Soupline, and Suavitel, as well as Hill's Science Diet and Hill's Prescription Diet. For more information about Colgate's global business, visit the Company's web site at http://www.colgate.com. To learn more about Colgate’s global oral health education program, Bright Smiles, Bright Futures™, please visit http://www.colgatebsbf.com.

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Cautionary Statement on Forward-Looking Statements

This press release may contain forward-looking statements. Such statements may relate, for example, to cash generation, financial goals or share repurchase levels. These statements are made on the basis of our views and assumptions as of this time and we undertake no obligation to update these statements. We caution investors that any such forward-looking statements are not guarantees of future performance and that actual events or results may differ materially from those statements. Investors should consult the Company’s filings with the Securities and Exchange Commission (including the information set forth under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2010) for information about certain factors that could cause such differences. Copies of these filings may be obtained upon request from the Company’s Investor Relations Department or the Company’s web site at http://www.colgate.com.

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