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Avon Selected as One of the Top Ten 'Best Corporate Citizens' by Business Ethics Magazine

Avon Selected as One of the Top Ten 'Best Corporate Citizens' by Business Ethics Magazine

Published 04-22-02

Submitted by Avon Products, Inc.

NEW YORK, New York - Avon Products, Inc. (NYSE: AVP) today announced it has been named among the top ten companies by Minneapolis-based Business Ethics magazine in its third annual "100 Best Corporate Citizens" listing. The rankings are based on a qualitative measure of corporate service to seven stakeholder groups: stockholders, employees, customers, the community, the environment, overseas stakeholders and women and minorities. Avon was ranked No. 10 for 2002, a 10-point jump from the company's ranking of No. 20 last year.

This is the second recognition Avon has recently received for corporate social responsibility. Last month, Avon was recognized by Fortune magazine as one of "America's Most Admired Companies" in their 20th annual survey. Within the industry category of soaps and cosmetics, Avon was ranked No. 4 overall, up from No. 7 in 2001; and No. 2 for social responsibility.

"Avon's 116-year heritage of changing people's lives for the better is at the cornerstone of the company's corporate mission," said Andrea Jung, Avon's chairman and chief executive officer. "And we remain committed to advancing Avon as a positive force for our associates, our independent sales representatives and all our global stakeholders in the communities in which we operate."

In its March/April issue due out later this month, Business Ethics magazine gives Avon high marks for its commitment to its overseas factories, suppliers and the communities around them citing that "Avon offers a good example of the cutting-edge practices at work here."

The magazine highlights Avon's work since 1996 with Social Accountability International (SAI), a charitable human rights organization dedicated to improving workplaces and communities by developing and implementing socially responsible standards. Through SAI, Avon played an integral role in the establishment of the Social Accountability 8000 Certification, a workplace standard that covers all key labor rights and certifies compliance through independent, accredited auditors.

Avon is also recognized for its philanthropic work that has raised $190 million for health-related issues of concern to women globally. Through the Avon Worldwide Fund for Women's Health, which includes the Avon Breast Cancer Crusade, Avon is committed to reaching its goal of raising $250 million by the end of 2002.

Statistical analysis for the "100 Best Corporate Citizens" was done by the Carroll School of Management at Boston College, Chestnut Hill, MA. Social ratings were provided by KLD Research & Analytics of Boston, a research firm serving socially responsible investors.

Avon is the world's leading direct seller of beauty and related products, with approximately $6.0 billion in annual revenues. For more than a century Avon has provided women with economic opportunity, and the company currently markets to women in 143 countries through 3.5 million independent sales representatives. Avon is committed to women's health and empowerment through the Avon Foundation and programs such as the Avon Breast Cancer Crusade and the Avon Worldwide Fund for Women's Health. Product lines include such recognizable brands as Avon Color, Anew, Skin-So-Soft, Advance Techniques Hair Care, beComing and Avon Wellness. Avon also markets an extensive line of fashion jewelry, apparel, gifts and collectibles. More information on Avon and its products and programs can be found on the company's website http://www.avon.com.

Avon Products, Inc. logo

Avon Products, Inc.

Avon Products, Inc.

Avon Products, Inc. recognized the beauty of "corporate responsibility" nearly a century before the term became part of the cultural lexicon. From the very beginning, in 1886, forward-thinking Avon founder David H. McConnell committed his company "to meet fully the obligations of corporate citizenship by contributing to the well-being of society and the environment in which it functions" - words that still guide the company more than 125 years later.

Avon is committed to the mission to "do well by doing good," managing its business enterprise to the highest standards while leveraging its unique capacity to mobilize and engage people to be agents of change in their lives, communities and the world.

Avon's Corporate Responsibility reflects the three pillars of Avon's corporate mission and drives the focus of the company's corporate responsibility efforts and achievements:

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