New York, New York, December 29, 2000... Colgate-Palmolive Company (NYSE:CL) announced today the sale of its Viva detergent in Mexico to Henkel, the German consumer products and chemical company, effective January 2001. The sale of this non-core brand is consistent with Colgate's strategy to de-emphasize detergents while investing in its high margin personal care and oral care businesses, which have been exhibiting healthy volume growth both in Mexico and around the world.

The sale will have no impact on Colgate's earnings, as the one-time gain that results from the transaction will be offset by one-time charges, including the write-off of Mexican detergent assets and other one-time costs.

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About Colgate-Palmolive: 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, Softsoap, Irish Spring, Protex, Sorriso, Kolynos, Ajax, Axion, Soupline, Suavitel and Fab, 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 on the Internet at http://www.colgatepalmolive.com.

This press release (other than historical information) contains 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 Company's Form 8-K dated November 13, 1998) 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.