Clichy - October 6th 2008 - L'Oreal sponsors the first class of the Law and Business Ethics Masters degree, organized by the University of Cergy-Pontoise. This is the first degree of its kind in Europe and comes in addition to L'Oreal's support of the Law and Business Chair. L'Oreal hopes in this way to make a concrete contribution to the development of business ethics in Europe.

1st Law and Business Ethics Masters degree

Thanks to the L'Oreal Group's determination and the dynamic University of Cergy-Pontoise, in association with the ESSEC Business School (France), the Institute of Business Ethics (UK) and the Ethics & Compliance Officers Association (USA), the 1st Law and Business Ethics Masters is now a reality. L'Oreal wishes to participate in making ethics an integral part of all corporate functions and contribute to the development of a European school of thought on ethics. In the words of Emmanuel Lulin, L'Oreal's Director of Ethics and sponsor of the Law and Business Ethics Masters' Class of 2009: "It is the first diploma of its kind in Europe. Business Ethics is a complex subject which needs to be addressed with humility and determination. The global leaders of tomorrow are those companies who have integrated ethics into their strategic planning but also their every-day business practices." At the same time, L'Oreal supports the development of the Law and Business Ethics Chair, created in July 2007, and which aims to encourage corporate responsibility.

L'Oreal and Ethics: an ongoing commitment

L’Oreal has been built around fundamental values such as respect, integrity and excellence, which have shaped its culture and underpin its reputation. By demonstrating high ethical standards, L'Oreal hopes to earn and retain the trust and respect of its employees, consumers, customers, suppliers and shareholders. In 2000, L'Oreal was one of the first large French companies to have adopted a Code of Business Ethics. Given L'Oreal's international presence, a second edition of this Code was launched in 2007, drafted with the help of employees from 22 countries and available in 43 languages. The Code of Business Ethics is the reference document within L'Oreal on ethics and helps employees integrate the Group's values into their every-day activity. A UN Global compact signatory since 2003, L'Oreal is particularly vigilant concerning the respect of fundamental human rights and has deployed a social and environmental audit program throughout its supply chain.

In 2007, L'Oreal appointed a Director of Ethics, reporting directly to the Group's Chief Executive Officer. Thanks to an ambitious training program, employees and in particular managers, will be educated on the importance of ethics. Ethics is also taken into account in the appraisal system, via two management competences: "Leads with Human Sensitivity" and "Obtains Results with Integrity."

About the Ethics and Compliance Officer Association:

The ECOA is a non-consulting, member-driven association exclusively serving individuals responsible for their organization's ethics, compliance, and business conduct programs. Dedicated to building trust and corporate integrity worldwide, the ECOA is the most-respected group of ethics and compliance practitioners in the world. By gathering those new to the field along with seasoned professionals, the ECOA facilitates peer-to-peer learning and helps to foster a global commitment to business ethics and integrity. Over 1,350 ECOA members represent nearly 600 organizations worldwide in over 30 industries.

The ECOA hosts the ethics and compliance community's largest annual conference as well as professional development workshops, periodic webcasts, and regional fora that offer its members invaluable learning and discussion. In addition, the ECOA publishes daily news updates and houses an e-Library containing ethics and compliance program materials from hundreds of companies, along with business videos, DVDs, magazines, and books. To learn more about the ECOA, please visit www.theecoa.org or call 781-647-9333.

Ethics and Compliance Officer Association

Ethics and Compliance Officer Association

The ECOA is a nonconsulting, member-driven association exclusively serving individuals responsible for their organization's ethics, compliance, and business conduct programs. Dedicated to building trust and organizational integrity worldwide, the ECOA is the most-respected group of ethics and compliance practitioners in the world. By gathering those new to the field along with seasoned professionals, the ECOA facilitates peer-to-peer learning and helps to foster a global commitment to business ethics and integrity. Over 1,250 ECOA members represent nearly 525 organizations worldwide in over 30 industries. The ECOA hosts the ethics and compliance community's largest annual conference as well as professional development workshops, webcasts, and regional forums that offer its members invaluable learning and discussion. In addition, the ECOA publishes daily news updates and houses an e-Library containing ethics and compliance program materials from hundreds of organizations, along with training videos, DVDs, magazines, and books. To learn more about the ECOA, please visit www.theecoa.org or call 781-647-9333.

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