EX-99 5 attach_2.txt NOTES AND EXPLANATORY RESPONSES Exhibit 99.1 On November 14, 2003, Ronald S. Lauder ("RSL" or the "Reporting Person") sold 71,100 shares of Class A Common Stock. He sold them in a number of transactions with an average sale price of $37.5665 The information regarding shares sold at each price appears in the two columns below: Shares Price 24800 37.50 600 37.54 500 37.55 3100 37.56 1500 37.57 5900 37.58 2000 37.59 25400 37.60 1700 37.61 400 37.62 100 37.63 200 37.64 500 37.65 500 37.67 800 37.68 1300 37.69 1600 37.70 200 37.75 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.