Corporate Press Releases

Avon Calling On Individual Investors

World's Leading Direct Seller of Beauty Products to Present At NAIC Congress & Expo

Sep 17, 2002

Avon Products, Inc. (NYSE: AVP) today announced that it is participating as a corporate exhibitor at the National Association of Investor Corporation's Annual Congress and Expo at the Oregon Convention Center in Portland on September 20-21. A company official will present to investors on Friday, September 20th, at 9:30 a.m.

Avon is on track in 2002 to achieve its previously stated target of $2.30 per share, before unusual items. This would make 2002 the third consecutive year in which the company has generated double-digit earnings growth.

Avon's strategies include accelerating sales growth by creating innovative beauty products, and strengthening its brand image with increased investment in consumer marketing activities.

For example, Avon announced in May that it will increase investment in research and development (R&D) by more than $100 million in the period 2002 through 2005, including construction of a new, world-class R&D center. The company also is investing an incremental $35-$40 million this year in advertising, brochure upgrades and other consumer-focused activities.

In addition, the company continues to enhance the Avon earnings opportunity to make direct selling a more attractive career opportunity for women. For example, Sales Leadership, which enables Representatives to increase their earnings by recruiting and training others, is now active in 24 countries. Many Avon markets are also utilizing the Internet to help Representatives manage their businesses electronically.

Moreover, the company's Business Transformation initiatives are making Avon a more efficient, globally integrated company and freeing up funds to reinvest in customer growth activities. Business Transformation also is on track to enable the company to increase its operating margin by 250 basis points by year-end 2004.

Avon is the world' leading direct seller of beauty and related products, with approximately $6.0 billion in annual revenues. Avon markets to women in 143 countries through 3.5 million independent sales Representatives. Avon product lines include such recognizable brand name as Avon Color, Anew, Skin-So-Soft, Advance Techniques Hair Care, beComing and Avon Wellness. Avon also markets an extensive line of fashion jewelry and apparel. More information about Avon and its products can be found on the company's web site


SOURCE: Avon Products, Inc.

CONTACT: MEDIA - Victor Beaudet, +1-212-282-5344, or INVESTOR - Renee
Johansen or Rob Foresti, +1-212-282-5320, all for Avon

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