MISSION At LORAL, we believe that everyone aspires to beauty.

Our mission is to help men and women around the world realise that aspiration, and express their individual personalities to the full. This is what gives meaning and value to our business, and to the working lives of our employees. We are proud of our work. POLICY Reflect our consumers diversity of origins within our teams at every level (in terms of nationality, ethnic or social origin, age...), while maintaining our standards of excellence in terms of competencies. Promote gender equity within our teams: promote the access of women to positions of responsibility, facilitate gender equity in functions that are currently over-staffed by men or women (Marketing, Industry), and ensure equal treatment in terms of salary. Encourage the employment people with disabilities. Valorize work experience in anticipation of a longer work life. Develop an inclusive managerial culture, respectful of all. AS A BUSINESS Our strategy for leadership is based on continuous investment in rigorous scientific research and development. This enables our brands to deliver products which are innovative, highly effective, practical and pleasant to use, and which are manufactured to the most demanding standards of quality and safety. We aim for excellence, and constantly challenge ourselves and our methods. We place great value on honesty and clarity: our consumer advertising is based on proven performance and scientific data. We are committed to building strong and lasting relationships with our customers and our suppliers, founded on trust and mutual benefit. We do business with integrity: we respect the laws of the countries in which we operate and adhere to good corporate governance practices. We maintain high standards in accounting and reporting, and support the fight against corruption. We deliver long-term, sustained shareholder value by protecting and making the most effective use of company assets. AS AN EMPLOYER We aim to make LORAL a great place in which to work. We know that our employees are our greatest assets. They are entitled to a safe and healthy working environment: one in which personal talent and merit are recognised, diversity is valued, privacy is respected, and the balance between professional and personal life is taken into account. We believe in offering our employees a stimulating environment, exciting personal opportunities and a chance to make a difference. We encourage an atmosphere of openness, courage, generosity and respect, so that all our employees feel free to come forward with their questions, ideas and concerns. AS A RESPONSIBLE CORPORATE CITIZEN We play our part in creating a world of beauty and fairness. We are mindful of our impact on the natural environment, including biodiversity, and constantly seek to reduce it: we are determined to avoid compromising tomorrow for the sake of today. We make a positive contribution to the countries and communities in which we are present, and respect local cultures and sensitivities. We are committed to the respect of human rights. We want to help end the exploitation of children in the workplace and the use of forced labour. We want an end to animal testing in our industry, and we contribute to the development and acceptance of alternative methods. We actively seek out and favour business partners who share our values and our ethical commitments. This is the spirit in which we operate: the LORAL SPIRIT.

LORAL NAMED ONE OF THE WORLDS MOST ETHICAL COMPANIES FOR 2010 Last March 23, 2010, LOrals commitment to ethics and achievements have once again been recognised by the Ethisphere Institute, a think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, human rights, corporate social responsibility, anti-corruption and sustainability.

L'Oral, the only French company in Fortune's Top 50 ranking. The American magazine "Fortune" has just published its annual ranking of the "World's Most Admired Companies". Among the 50 Groups present in this short-list, only one French company is mentioned: LOral. Based on a survey involving 16 000 executives and directors from the biggest international corporations, Fortunes ranking counts among the most renowned rankings in the world. To assess the reputation of companies, the respondents evaluate them on the basis of several criteria, from the use of Corporate Assets to Innovation, Financial Soundness, Social Responsibility... GROUP PROFILE - A century of expertise in cosmetics - 17.5 billion consolidated sales in 2009 - 23 global brands* - 130 countries - 64 600 employees - 674 patents filed in 2009. * These brands' annual sales are superior to 50 million euros What is the role of ethics within LORAL? LORAL has always had strong values which have shaped our culture and built our reputation. Our core values are integrity, respect and excellence. We are judged not only on what we do but also on the way we do it. All that we have done and all we continue to do is voluntary and proactive. Ethics gives us a shared vision and references. Quite simply, we believe that the global leaders of tomorrow are those companies who have not only integrated ethics into their strategic planning but also into their day-to-day business practices. At LORAL, we consider that ethics continues where rules end and that we should always ask ourselves not can we do it but should we do it. Ethics therefore allows us to earn and retain the trust of our stakeholders so that together we can grow and contribute usefully to the society in which we live. Our values are present in all aspects of our activities. The most visible examples are of course our strong Sustainable Development and Diversity policies but they are also integrated into less visible aspects such as our Purchasing Departments responsible sourcing policy and our high standards with regards product quality and safety. Why is Diversity a core value for LOral? Diversity is in our DNA and lies at the very heart of our activity. Indeed, the diversity of our teams is one of the keys to success at LOral. Teams that are diversified at all levels and in all areas allow for greater creativity and a better understanding of consumers, and enable us to develop products that measure up to their expectations. The Group plans to continue along

this road of self-enhancement with open-minded team members and consequently reject any idea or practice of discrimination amongst its people. Moreover, the Group is composed of 23 brands with an international reputation such as SoftSheenCarson (the global number one hair care brand for women and men of African descent), Shu Uemura, Lancme, Maybelline New York and, of course, Giorgio Armani. The multiplicity and complementary nature of our brands and products are testimony to LOreals commitment to enhancing all forms of beauty and well-being while respecting individual differences. Advancing beyond borders Career Mobility is one of our key values. At LOral, your success and ours hinges on diversified work experiences and developing individual potential over the long term. We believe that fostering an international working environment constitutes a critical strategic advantage. Sharing views, exchanging perspectives, contrasting ideas multicultural teams are what adapt our global brands to local demands. Mobility is beneficial for both the individual and the Group. Your potential to make a move With continuous year-on-year growth and rapid business development worldwide, mobility here is a reality. A fast-track international career is yours for the taking. L'Oral comprises many different elements, and each one is an evolving business. That's why so many of today's top candidates will be our leaders of tomorrow managing high-profile brands, directing critical operating units. Because they have what you may too. The right combination of flexibility and drive. Curiosity and ambition. The ability to adapt and integrate in different environments. To listen. Learn. Succeed. Growing reality In 2007, LOral recruited 2,500 Managers out of the Groups total management headcount of 17,000. 12% of our Managers work outside their home country, a figure that rises to 15% for Marketing staff and to 41% for the companys General Management.

Growth & personal development At LOral learning is part of our culture and part of our everyday life. The world of beauty, with its dynamic and challenging markets, calls for intuition, creativity, flexibility and passion and so the primary objective of our training programme is to develop talents: your talents! Right from your first steps at LOral and at every stage of your career, your success and the Groups success depend on your personal growth and development. Wherever you are, whatever your field of activity (marketing, production, finance, research, etc.), whatever your role, you will be constantly supported by our teams, who will provide you with the professional knowledge you require. Develop your professional expertise On the one hand your professional development will be taking place day by day, on an informal basis yet this kind of development doesnt happen of its own accord, which is why the Group is committed to providing you with an appropriate working environment and to training talented managers, trainers and coaches. On the other hand we will provide you with training programmes, field visits and distance learning opportunities, constantly adapting the content of these programmes to your everyday professional needs. Your personal commitment to putting what you have learned in training

into practice in your work is the key to making this a success. And because everyone has different needs youll be provided with a training catalogue which outlines the courses we recommend at each stage of your career. These guidelines will help you select in conjunction with your manager the training thats best for you. Youll also have two formal appraisals with your manager every year when you can identify and discuss your strengths and your development needs. Communicate with passion Outstanding communication skills are vital at LOral. Yes, its important to have good ideas but its even more important to be able to defend them with passion and conviction. To help you do this we make sure that we offer the communications training you need: basic presentation techniques and personal effectiveness training, negotiating techniques, managing delicate and strategic situations with the media. Your managerial qualities and your personal development Fast-track career progression is eminently achievable at LOral and this means that you need to have access to the learning opportunities you need exactly when you need them: after all, our success depends on developing our leaders of the future. Our Transition To training programme will prepare you for the challenges of your next career step supplemented with invaluable support from your manager. Diversity is at the heart of our business! At LOral, career development decisions are taken based on opportunities within the Group and your personal long-term aspirations. Moves are carefully analyzed with regards to your professional and personal qualities and your performance. Each year, 4,500 employees make career moves within the Group; 10% of these involve international mobility, 20% involve changes in professional field and 25% changes in division.

POS - Promo / Suppliers The promotion of our products is a strategic business driver for all the LOral brands . Point of sales (POS) and promotion items (Promo) are important means to advertise LOral products. This field requires creativity, innovation, discipline and competitiveness. Social / Health & Safety LOral does its utmost to ensure that its suppliers respect basic human rights, notably the International Labour Organization's international labor law rules (social, health, and safety), and has strengthened its approach through a reference guide and a methodology aimed at monitoring its community of suppliers. Social audits are carried out by independent third parties on our supplier sites on behalf of LOral and at its own cost. End 2009, more than 2100 audits have been performed worldwide. BRANDS We want people everywhere to have easy access to our products through a presence in outlets that match their individual lifestyles. CONSUMER PRODUCTS: L'Oral Paris Garnier Maybelline New York Softsheen.Carson CCB Paris

PROFESSIONAL PRODUCTS: L'Oral Professionnel Krastase Redken Matrix Mizani Shu Uemura Art of Hair LUXURY PRODUCTS: Lancme Biotherm Helena Rubinstein Kiehl's Shu Uemura Giorgio Armani Ralph Lauren Cacharel Viktor & Rolf Diesel YSL Beaut Maison Martin Margiela ACTIVE COSMETICS: Vichy La Roche Posay innov Skinceuticals Sanoflore THE BODY SHOP SHUE UEMURA founded and named after legendary Japanese make-up artist and beauty pioneer, Shu Uemura, the brand breaks all boundaries in beauty creation. inspired by an aesthetic and professional spirit of the artisan, the shu uemura brand was developed on the founders holistic philosophy that beautiful make-up starts with beautiful skin. believing that quality of skincare is essential in creating beautiful make-up, the most advanced skincare formulas using powerful phyto-ingredients and breakthrough technologies are used as the first step to revealing every womans unique beauty. blending nature, science, and art together with brands pioneer spirit combine to create cutting-edge make-up, innovative high performing skincare and elegantly craftly professional quality tools that fuse simplicity and elegance. the extraodinary spectrum of colors and textures found within shu uemuras atelier enables every user to becomes a true artist, liberated to freely experiment with infinite expression and make-up designs. explore the world of shu uemura and find your own unique beauty.

SHU FANATIC PROMO enjoy lifetime membership as a shu fanatic member where you will receive exclusive invitations to product previews, launch parties, workshops, complimentary samples and enjoy members exclusive price on shu uemuras services. also, delight yourself in enticing rewards as you become a true shu fanatic! with every S$1 spent, be entitled to 1 shu fanatic point that you may accumulate to redeem for attractive gifts at your nominated counter. in addition, receive double bonus points on your purchase during your birthday month. all shu fanatic points are valid for 1 year from the 1st date of membership entry. be prepared to be pampered with a host of privileges as a shu fanatic member! White efficient skincare program New pen 56 instantly brightens dark spots and minimizes dark melanin with dazzling efficiency. Shue Uemura has revolutionized whitening skincare with an easy to use, accurate pen type applicator that instantly brightens brown spots, empowered with the botanical exfoliator Beech Extract on top of lipo HA and HEPES, Pen 56 combines Mito-White Complex and the optical brightening effect of Micro Pearl and light Diffusing Particle to maximize its efficacy. Pen 56 instantly diminishes brown spots beyond your expectations and brings radiant, illuminated skin with translucency to a new level.