COLGATE PALMOLIVE CO — Director's Dealing 2006

Aug 30, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COLGATE PALMOLIVE CO (CL)
CIK: 0000021665
Period of Report: 2006-08-28

Reporting Person: PATRICK STEPHEN C (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-28	Common Stock	M	17864	$53.58	Acquired	197391	Direct
2006-08-28	Common Stock	F	535	$58.925	Disposed	196856	Direct
2006-08-28	Common Stock	F	16244	$58.925	Disposed	180612	Direct
2006-08-28	Common Stock	M	18273	$51.125	Acquired	198885	Direct
2006-08-28	Common Stock	F	799	$58.925	Disposed	198086	Direct
2006-08-28	Common Stock	F	15854	$58.925	Disposed	182232	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-08-28	Stock Option (Right to Buy)	$53.58	M	17864	Disposed	2006-09-05	Common Stock (17864)	Direct
2006-08-28	Stock Option (Right to Buy)	$51.125	M	18273	Disposed	2006-09-05	Common Stock (18273)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2707	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 2,705 shares.