New York, New York, January 3, 2006... Colgate-Palmolive Company (NYSE:CL) announced today the sale of its Southeast Asian heavy-duty laundry detergent brands, marketed in Thailand, Malaysia, Singapore and Hong Kong, to the Procter & Gamble Company effective December 31, 2005. The transaction includes the sale of the detergent brands Fab, Trojan, Dynamo and Paic. As a consequence of this sale, two detergent dedicated factories will be closed or modified in conjunction with the Company's previously announced Restructuring Program.

Reuben Mark, Colgate's Chairman and CEO said, "This sale is part of Colgate's ongoing strategy to de-emphasize and eliminate low-margin portions of the business while focusing on our high-margin, fast-growing oral, personal and pet care businesses."

It is expected that the net one-time gain resulting from the transaction will approximate and be fully offset by previously disclosed fourth quarter restructuring charges under the Company's 2004 Restructuring Program.

Mr. Mark concluded, "This simplification of our portfolio will increase gross profit margin in our Asia/African division and will allow even greater focus on our strong and highly profitable oral, personal and pet care businesses."

Colgate-Palmolive is a leading global consumer products company, tightly focused on Oral Care, Personal Care, Home Care and Pet Nutrition. Colgate sells its products in over 200 countries and territories around the world under such internationally recognized brand names as Colgate, Palmolive, Mennen, Softsoap, Irish Spring, Protex, Sorriso, Kolynos, Elmex, Ajax, Axion, Soupline, and Suavitel, as well as Hill's Science Diet and Hill's Prescription Diet pet foods. For more information about Colgate's global business, visit the Company's web site at http://www.colgate.com.

This press release (other than historical information) may contain forward-looking statements. Actual events or results may differ materially from those statements. Investors should consult the Company's filings with the Securities and Exchange Commission (including the information set forth under the caption "Cautionary Statement on Forward-Looking Statements" in the Company's Form 10-K for the year ended December 31, 2004) for information about factors that could cause such differences. Copies of these filings may be obtained upon request from the Company's Investor Relations Department or the Company's web site at http://www.colgate.com.