CSR Press Release

NEW YORK, NY - As the fifth edition of L'Oreal's e-Strat Challenge begins, a record number of students - over 36,000 world-wide representing 125 countries and 2190 universities - registered for a chance to be selected to play. Here in the U.S., more than 1,700 students registered for a chance to compete in what has been called "The Ultimate Business Game". A total of 3,795 students from 54 countries made the final cut and will begin the first five rounds of play leading up to the semi-finals in January. In the end, only 16 teams (8 Undergraduate and 8 MBA) will advance to Paris, France where the finals will be held in March, 2005.

The L'Oreal e-Strat Challenge, is more than a game; it is a personal and professional enhancement tool through which student competitors in teams of three have an opportunity to assume the role of CEO in charge of a virtual cosmetics company. They put their business acumen to the test in a virtual landscape, vying against four competitive companies for market and share price advantage.

"Everything these students have absorbed in the classroom and read in their textbooks, they now have an opportunity to place into actual practice," says Celica Thellier, vice president, Corporate Strategic Recruitment, L'Oreal USA. "This game provides a real time view of current market conditions in a changing global economy and the teams must respond appropriately and anticipate the issues that will impact their business in a highly realistic simulation."

In addition to demonstrating their leadership capabilities the teams will be called upon to make over 150 decisions per round that will test their strategic vision, their ability to think and respond quickly, and their overall business knowledge. Students will need to consider such business realities as pricing policy, production issues, research and development strategy, finance, marketing, advertising and brand positioning. And something new has been added this year; with increased attention on Corporate Social Responsibility (CSR) as a key component in business, students will have to consider the role of CSR in their business as well.

Chicago's Northwestern Kellogg School of Business team Chabozu were among the 2004 international winners. This year with 20 MBA teams registered to play, the school leads the list of top ten schools in the number of registrations for the fifth edition of the Challenge. University of Pennsylvania/Wharton and New York University/Stern School of Business follow closely behind.

FOR MORE INFORMATION: www.e-strat.loreal.com

L'Oreal USA, headquartered in New York City, with annual sales of over $3.8 billion and 8,400 employees, is a wholly-owned subsidiary of the L'Oreal Group, the world's leading cosmetics company. L'Oreal USA has Research & Development, Manufacturing, Distribution and Administration facilities in New Jersey, New York, Kentucky, Arkansas, Illinois, Ohio, Colorado and Georgia. The company's prestigious brand portfolio includes, L'Oreal Paris, Lancôme, Maybelline New York, Garnier, Redken 5th Ave NYC, Soft Sheen/Carson, Kiehl's Since 1851, L'Oreal Professionnel, Matrix, La Roche-Posay, Ralph Lauren Fragrances, Vichy, Giorgio Armani Parfums and Cosmetics, Biotherm and Shu Uemura.

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