NEW YORK -- (BUSINESS WIRE) --

The Estée Lauder Companies Inc. (NYSE: EL) announced today that it has completed its acquisition of Smashbox Beauty Cosmetics, Inc. Terms of the deal were not disclosed. The transaction is expected to be accretive to earnings in fiscal year 2011, before transaction and integration costs. Moelis & Company acted as financial advisor and Weil, Gotshal & Manges LLP served as legal counsel to The Estée Lauder Companies Inc.

The forward-looking statements in this press release relating to earnings expectations involve risks and uncertainties. Factors that could cause actual results to differ materially from those forward-looking statements include current economic and other conditions in the global marketplace, actions by retailers, suppliers and consumers, competition, the Company's ability to successfully integrate the acquired business and/or implement its long-term strategic plan, and those described in the Company's annual report on Form 10-K for the year ended June 30, 2009.

About The Estée Lauder Companies Inc.

The Estée 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 140 countries and territories under the following brand names: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, M•A•C, Bobbi Brown, Tommy Hilfiger, Kiton, La Mer, Donna Karan, Aveda, Jo Malone, Bumble and bumble, Darphin, Michael Kors, American Beauty, Flirt!, GoodSkin Labs, Grassroots Research Labs, Sean John, Missoni, Daisy Fuentes, Tom Ford Beauty, Coach, Ojon and Smashbox.

CONTACT:

Estée Lauder Companies Inc.
Investor Relations:
Dennis D'Andrea, 212-572-4384
or
Media Relations:
Alexandra Trower, 212-572-4430