COLGATE PALMOLIVE CO — Director's Dealing 2006

Sep 5, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COLGATE PALMOLIVE CO (CL)
CIK: 0000021665
Period of Report: 2006-08-31

Reporting Person: WHEELER ROBERT C (CEO, Hill's Pet Nutrition)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-31	Common Stock	M	23886	$58.83	Acquired	235896	Direct
2006-08-31	Common Stock	F	115	$59.755	Disposed	235781	Direct
2006-08-31	Common Stock	F	23517	$59.755	Disposed	212264	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-08-31	Stock Option (Right to Buy)	$58.83	M	23886	Disposed	2006-09-05	Common Stock (23886)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	124	Indirect
Common Stock	575	Indirect

Footnotes

F1: Exercise of stock options awarded under the issuer's employee stock option plan.

F2: Payment of tax liability by delivering or withholding shares of stock incident to the exercise of the option under the issuer's employee stock option plan.

F3: Payment of exercise price of stock option by delivering or withholding shares of stock incident to the exercise of the option under the issuer's employee stock option plan.

F4: As a result of the reported transactions, the reporting person's Common Stock ownership has increased by 254 shares.