Corporate Press Releases

Avon Names Elizabeth A. Smith Executive Vice President and Brand President

New Position to Further Strengthen Avon Brand Globally

Oct 27, 2004

Avon Products, Inc. (NYSE: AVP) today announced that Elizabeth A. Smith will join the company as Executive Vice President and Brand President, effective January 1, 2005. She will report to Andrea Jung, Avon's chairman and chief executive officer.

In the newly created position, Ms. Smith will have responsibility for the strategic management of the company's worldwide brand and product categories, and for leveraging the successful transformation of the Avon brand to drive the next generation of growth. In this capacity, she will lead all of Avon's global brand and marketing functions, including brand building, advertising, research and development, marketing research, along with the company's strategies for continuing growth in its global direct selling beauty brands. Ms. Smith also will develop new initiatives and potential alliances to further leverage the equity of the Avon brand across new product segments, categories and services.

Ms. Smith, age 41, comes to Avon from Kraft Foods Inc., which she joined in 1990, and where she rose through increasingly responsible brand and marketing positions to become one of the highest-ranking executives at the company.

Since January 2004, she has been President, US Beverages and Grocery Sectors, with responsibility for the company's worldwide growth agenda and brand-building strategies for its Coffee, Refreshment Beverages, Enhancers, Desserts, and Post divisions. From 2002 to 2004, she was President, Beverages, Desserts and Cereals, where she had responsibility for managing many well-known brands.

Andrea Jung, Avon's chairman and chief executive officer, said, "We are delighted to welcome Liz to Avon as we continue the transformation of the Avon brand and capitalize on the many new growth opportunities that lie ahead. Liz's outstanding track record of creating breakthrough growth in brands marketed to women is a perfect fit with Avon's mission as the company for women, as well as with our stated goal of being the global beauty leader.

"Throughout her career, Liz has demonstrated her proven ability in transforming business portfolios, revitalizing brands and creating new initiatives for unleashing growth and building market share," Ms. Jung added. "We are very excited that Liz's brand and marketing expertise, combined with her strong business and operational skills, will be important assets for Avon as we drive for continuing beauty growth around the world."

Prior to joining Kraft Foods, Ms. Smith earned her MBA in 1990 at the Stanford University Graduate School of Business.

Avon is the world's leading direct seller of beauty and related products, with $6.8 billion in annual revenues. Avon markets to women around the world through 4.4 million independent sales Representatives. Avon product lines include such recognizable brand names as Avon Color, Anew, Skin-So-Soft, Avon Solutions, Advance Techniques Hair Care, Avon Naturals, Mark, 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 Sharon Samuel,
+1-212-282-5322, Investors: Renee Johansen, or Rob Foresti, +1-212-282-5320,
all of Avon Products, Inc.

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