NEW YORK, February 4, 2004 – Avon Products, Inc. (NYSE: AVP) today announced that it has signed world-renowned, Oscar-nominated actress Salma Hayek to an exclusive global advertising and promotional agreement. Financial terms were not disclosed.

Under the agreement, Ms. Hayek will serve as the spokesperson for Avon’s flagship color and fragrance brands. In the third quarter of 2004, Ms. Hayek will begin appearing in print and television advertising for new color and fragrance launches, and will also be featured in the company’s brochures, public relations and the Internet.

“We are thrilled to welcome Salma to Avon at such an exciting time in our company’s history. Our upcoming color and fragrance launches signal a true evolution in our beauty growth strategy and Salma’s universal beauty will appeal to our broad and diverse customer base,” said Andrea Jung, Chairman and Chief Executive Officer for Avon Products, Inc. “Salma’s personal story and values are a perfect fit for us, and we have a shared commitment to the empowerment and well being of women.”

Additionally, the Avon Foundation and Ms. Hayek will partner in broadening the Foundation’s domestic violence initiative. The Avon Foundation is a 501(c)(3) public charity founded in 1955 with the mission of championing the health and well being of women globally through philanthropic efforts.

“The Foundation has found that domestic violence is a leading concern of women globally, and we are excited to give this cause a stronger voice going forward. We look forward to working with Salma in this fight and reaching out and helping millions of women, just as we do in our ongoing crusade against breast cancer,” says Ms. Jung.

“I have such respect for Avon as a world-class beauty leader, and for what the company has accomplished in providing economic and personal fulfillment to women all over the world,” says Ms. Hayek. “I’m very optimistic that in joining forces with Avon, we can truly make a difference to the important cause of domestic violence and bring hope and empowerment to women around the world.”

Ms. Hayek, is an Oscar-nominated actress, producer and director, with such film credits as Frida (2002), Once Upon a Time in Mexico (2003), Maldinado Miracle (2003), Dogma (1999), Fools Rush In (1996), and Desparado (1995). Her upcoming projects include After the Sunset, Ask the Dust and Paint - all scheduled for release in 2004/2005. Born and raised in Mexico, Ms. Hayek now resides in Los Angeles, California.

This partnership with Avon was negotiated by William Morris, 360 Management and Bill Sobel.

About Avon
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 www.avon.com.

About the Avon Foundation
The Avon Foundation, a 501(c)(3) public charity, was founded in 1955 with a mission to improve the lives of women by supporting programs that offer economic opportunity and provide care and research for breast cancer in the U.S. and around the world. More information about the Avon Foundation can be found on www.avonfoundation.org.