EX-99 5 attach_1.txt NOTES AND EXPLANATORY RESPONSES Exhibit 99.1 On November 10, 2003, Ronald S. Lauder ("RSL" or the "Reporting Person") sold 60,000 shares of Class A Common Stock. He sold them in a number of transactions with an average sale price of $36.7218. The information regarding shares sold at each price appears in the two columns below: Shares Price 400 36.53 1000 36.63 1100 37.22 1800 36.60 2700 37.25 3500 36.51 5800 36.61 6100 36.50 7200 37.20 10400 36.64 20000 36.65 On November 11, 2003, RSL sold 100,000 shares of Class A Common Stock. He sold them in a number of transactions with an average sale price of $36.2857. The information regarding shares sold at each price appears in the two columns below: Shares Price 700 36.32 4100 36.35 5000 36.29 10000 36.26 11000 36.40 15000 36.21 19000 36.25 35200 36.30 After these sales, the amounts of Class A Common Stock and Class B Common Stock beneficially owned by RSL includes: (i) 22,005,555 shares of Class B Common Stock held directly, (ii) 3,182 shares of Class A Common Stock and 3,182 shares of Class B Common Stock held indirectly as Trustee of The Descendants of Ronald S. Lauder 1966 Trust, (iii) 15,384 shares of Class A Common Stock and 3,846,154 shares of Class B Common Stock held indirectly as a general partner of Lauder & Sons L.P. (RSL is also a Trustee of The 1995 Estee Lauder RSL Trust, which is also a general partner of Lauder & Sons L.P.), (iv) 1,095,410 shares of Class A Common Stock held indirectly as co-Trustee and beneficiary of the Estee Lauder 2001 Charitable Trust, and (v) 10,188,803 shares of Class B Common stock held indirectly as trustee of The Estee Lauder 2002 Trust. RSL disclaims beneficial ownership of the shares in clauses (ii), (iii), (iv) and (v) to the extent he does not have a pecuniary interest in such securities.