EX-99 3 attach_2.txt NOTES AND EXPLANATORY RESPONSES. Exhibit 99.1 On November 16, 2004, Ronald S. Lauder ("RSL" or the "Reporting Person") sold 104,000 shares of Class A Common Stock in a number of transactions with an average sale price of $44.8918. The information regarding shares sold at each price appears in the two columns below: Share Price 25500 44.76 6300 44.77 4000 44.78 2000 44.79 7400 44.80 600 44.82 3700 44.83 500 44.84 300 44.91 900 44.92 2800 44.95 44500 45.00 100 45.01 1100 45.02 4300 45.03 On November 17, 2004, RSL sold 100,000 shares of Class A Common Stock in a number of transactions with an average sale price of $44.9490. The information regarding shares sold at each price appears in the two columns below: Share Price 6500 44.81 1800 44.82 7100 44.83 34600 44.92 34400 45.00 500 45.01 10800 45.02 100 45.03 4200 45.05 After these sales, the amounts of Class A Common Stock beneficially owned by RSL includes: (i) 203,553 shares of Class A Common Stock held directly, (ii) 3,182 shares of Class A Common Stock held indirectly as Trustee of The Descendants of Ronald S. Lauder 1966 Trust, (iii) 15,384 shares of Class A 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.). RSL disclaims beneficial ownership of the shares in clauses (ii) and (iii) to the extent he does not have a pecuniary interest in such securities.