COLGATE PALMOLIVE CO — Director's Dealing 2008

Aug 13, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COLGATE PALMOLIVE CO (CL)
CIK: 0000021665
Period of Report: 2008-08-11

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-11	Common Stock	M	40000	$56.675	Acquired	280172	Direct
2008-08-11	Common Stock	M	42000	$55.11	Acquired	322172	Direct
2008-08-11	Common Stock	M	40500	$54.40	Acquired	362672	Direct
2008-08-11	Common Stock	F	98268	$77.85	Disposed	264404	Direct
2008-08-12	Common Stock	S	3535	$77.7368	Disposed	260869	Direct
2008-08-13	Common Stock	S	23792	$76.7664	Disposed	237077	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-08-11	Stock Option (Right to Buy)	$56.675	M	40000	Disposed	2011-09-17	Common Stock (40000)	Direct
2008-08-11	Stock Option (Right to Buy)	$55.11	M	42000	Disposed	2012-09-12	Common Stock (42000)	Direct
2008-08-11	Stock Option (Right to Buy)	$54.40	M	40500	Disposed	2010-09-09	Common Stock (40500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	595	Indirect
Common Stock	124	Indirect

Footnotes

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

F2: The exercise price of the options and related withholding requirement was satisfied by the Company's withholding shares otherwise deliverable upon exercise of the options.

F3: Sale of shares (with proceeds delivered to the Company) for payment of tax liability above minimum required statutory withholding (but not in excess of full applicable statutory tax rates) incident to the exercise of the option under the issuer's employee stock option plan.

F4: Weighted Average Price: High--$76.83, Low--$76.71