During the Ordinary and Extraordinary General Shareholders' Meeting on Tuesday, 30 May 2000, the L'ORÉAL shareholders voted in favour of a 10-for-1 share split.

Outstanding shares will be exchanged at a rate of 10 new shares with a par value of 0.20 each for one existing share with a par value of 2.
On Monday, 3rd July, 2000, Sicovam SA will automatically carry out this operation by multiplying the balance of shares on shareholders' accounts at the close of business on Friday 30th June, 2000 and recording shares with a par value of 0.20.
The shareholders will not be charged for this exchange.

On Wednesday, 26th April, 2000, the Annual Report was registered as a “Document de Référence” by the Commission des Opérations de Bourse under no. R. 00-184. This document is freely available on request from L'ORÉAL's headquarters, 41 rue Martre, 92117 Clichy, France.