Mr. Pascal Castres Saint Martin Named Group Executive Vice President

Upon the suggestion of Mr. Lindsay Owen-Jones, Chairman and Chief Executive Officer, the Board of Directors of L'Oréal has named Mr. Pascal Castres Saint Martin Group Executive Vice President. He succeeds Mr. Gérard Chouraqui who has taken his retirement as of 1 December 1997.

Director since April 1994, Mr. Pascal Castres Saint Martin retains in addition his functions as Vice President in charge of Administration and Finance, a post he has held since 1991.

Aged 61 and a graduate of HEC, Mr. Castres Saint Martin began his career in the banking sector, before joining L'Oréal in 1979 as Legal Manager, then as Financial and Legal Manager in 1982.