The new split-adjusted dividend of $.1575 is up from $.1375 and will be paid on August 16, 1999 to shareholders of record as of July 26, 1999. On an annualized basis, the new dividend rate is $.63 vs. $.55 per post-split share.

The Board also approved the regular $1.0625 quarterly dividend on the $4.25 preferred stock, payable September 30, 1999 to shareholders of record on September 15, 1999.

Colgate-Palmolive is a leading global consumer products company, tightly focused on Oral Care, Personal Care, Household Care, Fabric 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, Protex, Sorriso, Kolynos, Ajax, Axion, Soupline, Suavitel and Fab, as well as Hill's Science Diet and Hill's Prescription Diet pet foods.