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Press release from PR Newswire

Avon Statement

Tuesday, May 15, 2012

Avon Statement01:28 EDT Tuesday, May 15, 2012NEW YORK, May 15, 2012 /PRNewswire/ -- Avon Products, Inc. (NYSE: AVP) responded promptly to Coty's May 9th letter by disclosing it on May 10th and indicating that its Board would consider the contents of the letter. Subsequently on May 13th, Avon's Board said it would respond to Coty's letter within one week after considering it in conjunction with management and financial and legal advisors. On May 14th, five days after sending its letter, Coty withdrew its proposal. Avon, the company for women, is a leading global beauty company, with over $11 billion in annual revenue.  As the world's largest direct seller, Avon markets to women in more than 100 countries through approximately 6.4 million active independent Avon Sales Representatives.  Avon's product line includes beauty products, as well as fashion and home products, and features such well-recognized brand names as Avon Color, ANEW, Skin-So-Soft, Advance Techniques, Avon Naturals, and mark.  Learn more about Avon and its products at www.avoncompany.com.SOURCE Avon Products, Inc.For further information: MEDIA: Victor Beaudet, Avon Products, Inc., +1-212-282-5344, victor.beaudet@avon.com, or Jennifer Vargas, Avon Products, Inc., +1-212-282-5404, jennifer.vargas@avon.com, or Steven Lipin, Brunswick Group LLC, +1-212-706-7875, slipin@brunswickgroup.com; INVESTORS: Amy Chasen or Monica Chang, Avon Products, Inc., +1-212-282-5320