New York, New York, February 5, 2004... Colgate-Palmolive Company (NYSE:CL) today announced that Elizabeth A. Monrad, Executive Vice President and Chief Financial Officer of TIAA-CREF, has been elected to its Board of Directors. TIAA-CREF is a leading provider of financial services and the premier US pension system for people in education and research, serving over 2.9 million participants.

Ms. Monrad brings extensive financial expertise gained over almost 25 years in the financial, insurance and accounting fields. Ms. Monrad joined TIAA-CREF in July, 2003, and is now responsible for financial reporting, planning and budgets, treasury operations, tax, actuarial, procurement, internal audit and corporate facilities.

Ms. Monrad was previously Chief Financial Officer for General Re Corporation. She served on General Re's Board and its five-member executive committee. First joining General Re in 1992, Ms. Monrad also served as its Treasurer and Controller. She was previously an audit partner in Coopers & Lybrand, the accounting firm.

Ms. Monrad is a graduate of the Sloan School at the Massachusetts Institute of Technology and Wellesley College.

Colgate-Palmolive is a leading global consumer products company, tightly focused on Oral Care, Personal Care, Household Surface 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 Speed Stick, Irish Spring, Kolynos, Ajax, Soupline, Suavitel and Fab, as well as Hill's Science Diet and Hill's Prescription Diet pet foods.