Dividend Declaration

RNS Number:8456G
Colgate-Palmolive Co
12 July 2001



CONTACT:
Bina Thompson      212-310-3072 
Hope Borkenstein   212-310-2291


                    COLGATE INCREASES DIVIDEND 14%

NEW YORK, NEW YORK, July 12, 2001... The Board of Directors of Colgate-Palmolive
Company today, at its regularly scheduled meeting, increased the quarterly
common stock cash dividend by 14%. The new dividend rate of $.18 is up from
$.1575 and will be paid on August 15, 2001 to shareholders of record as of July
26, 2001. On an annualized basis, the new dividend rate is $.72 vs. $.63 per
share.

Reuben Mark. Colgate Chairman and CEO, said: "The Board's action reflects our
increasing profitability and strong free cash flow."

The Company's common stock dividend payments have increased for thirty-nine
consecutive years.

The Board also approved the regular $1.0625 quarterly dividend on the $4.25
preferred stock, payable September 28, 2001 to shareholders of record on
September 17, 2001.

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.

The full text of Colgate releases is available:
Internet Address:  http://www.colgatepalmolive.com 
Shareholder Direct: 1-800-850-2654 
E-mail: [e-mail]