Avon Elects Cornwell to Board of Directors

Avon Products, Inc. announced the election of W. Don Cornwell to the board of directors, effective Jan. 2, 2002, increasing the number of directors to 11.

Mr. Cornwell previously served as chairman of the board and chief executive officer of Granite Broadcasting Corporation, New York, since 1988. Granite owns and operates nine television stations in the U.S. Prior to founding Granite, he spent 17 years with Goldman, Sachs & Company in a variety of positions, including chief operating officer, corporate finance department, from 1980-1988, and vice president, investment banking division, from 1976-1980.

“We are delighted to welcome Don to Avon’s board of directors,” said Andrea Jung, chairman and chief executive officer, Avon. “His strong operating and financial background, plus his expertise in the mass media, will be very valuable to Avon as we continue to implement our global growth strategies.”

Mr. Cornwell currently serves as a director of CVS Corporation and Pfizer, Inc. He also is chairman of the board of the Telecommunications Development Fund and serves on the boards of the Hershey Trust Company and the Milton Hershey School.