COLGATE PALMOLIVE CO — Director's Dealing 2006

Sep 6, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COLGATE PALMOLIVE CO (CL)
CIK: 0000021665
Period of Report: 2006-09-01

Reporting Person: TANGNEY MICHAEL J (Exec VP Pres. Colgate Latin Am)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-09-01	Common Stock	M	28852	$60.02	Acquired	389870	Direct
2006-09-01	Common Stock	F	52	$60.35	Disposed	389818	Direct
2006-09-01	Common Stock	F	28695	$60.35	Disposed	361123	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-09-01	Stock Option (Right to Buy)	$60.02	M	28852	Disposed	2006-09-05	Common Stock (28852)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	18397	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 105 shares.