COLGATE PALMOLIVE CO — Director's Dealing 2008

May 16, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COLGATE PALMOLIVE CO (CL)
CIK: 0000021665
Period of Report: 2008-05-14

Reporting Person: MARTIN RONALD T (VP Global Soc. Responsibility)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-05-14	Common Stock	M	8000	$54.40	Acquired	13211	Direct
2008-05-14	Common Stock	F	6728	$71.60	Disposed	6483	Direct
2008-05-15	Common Stock	S	96	$71.4474	Disposed	6387	Direct
2008-05-15	Common Stock	S	1100	$71.511	Disposed	5287	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-05-14	Stock Option (Right to Buy)	$54.40	M	8000	Disposed	2010-09-09	Common Stock (8000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1568	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: Option became 100% exercisable on the date shown in this column.