EX-99 3 attach_1.txt NOTES AND EXPLANATORY RESPONSES. Exhibit 99.1 On December 7, 2004, Ronald S. Lauder ("RSL" or the "Reporting Person") exercised options in respect of 150,000 shares of Class A Common Stock. He sold those shares that day in a number of transactions with an average sale price of $44.9167. The information regarding shares sold at each price appears in the two columns below: Share Price 2600 44.85 1600 44.86 800 44.87 14100 44.88 9900 44.89 47400 44.90 5700 44.91 15600 44.92 6800 44.93 17500 44.94 18300 44.95 2200 44.96 1600 44.97 400 44.98 2200 45.00 700 45.01 1300 45.02 200 45.04 1100 45.05 After these sales, the amounts of Class A Common Stock beneficially owned by RSL includes: (i) 57,553 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.