Dear Bocconi Alumni and friends,

On Wednesday, March 17,2010, the President and Chief Executive Officer, The Estée Lauder Companies Inc., Fabrizio Freda, will meet Bocconi alumni for a private and exclusive dinner. Members of GIPI and NYBSC assoociations are welcome.

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The reception will start at 7:00 p.m. and dinner will follow at 8:00 p.m. SPACE IS VERY LIMITED. FIRST COME FIRST SERVE.

FABRIZIO FREDA, President and Chief Executive Officer, The Estée Lauder Companies Inc.

Fabrizio Freda is President and Chief Executive Officer, The Estée Lauder Companies, a position he assumed on July 1, 2009. In this role, he is responsible for developing and achieving the Company’s overall vision, strategy, financial objectives and investment priorities. Mr. Freda is a member of the Company’s Board of Directors.

Mr. Freda joined The Estée Lauder Companies in March 2008 when he was appointed President and Chief Operating Officer. In this role, Mr. Freda was a key architect of the Company’s long-term strategic plan, which is focused on gaining market share in the global prestige beauty industry and generating sustainable, profitable growth. The strategy includes prioritizing resources to the most promising opportunities, making further investments in consumer knowledge, driving innovation and creativity through products and services, and expanding the Company’s distribution and geographic penetration. It also calls for greater integration across the Company’s brands, regions and functions to create cost efficiencies and leverage scale.

Mr. Freda is a strategically focused, financially disciplined, results-oriented leader with a proven track record in the consumer products arena. Prior to joining The Estée Lauder Companies, Mr. Freda had an outstanding 20-year career at Procter & Gamble (P&G), where he was responsible for various operating, marketing and strategic efforts. His last position at P&G was President, Global Snacks, where he restructured the business, orchestrated its successful turnaround and managed employees, factories and research and development centers around the world. Mr. Freda also spent more than a decade in positions of increasing responsibility in the Health and Beauty Care division at P&G. During that time he led the launch and expansion of the Pantene hair care brand in several European countries.

From 1986 to 1988 he directed marketing and strategic planning for Gucci SpA.

Mr. Freda was educated at the University of Naples and has a degree in Economics and Business Administration. He is married and has two children. He and his family live in New York City.

We look forward to a warm participation at this important event.

Warmest regards,

Carlo Mantica-Necchi

President, Bocconi Alumni of New York