HERBALIFE LTD. — Director's Dealing 2011

May 20, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HERBALIFE LTD. (HLF)
CIK: 0001180262
Period of Report: 2011-05-18

Reporting Person: Fleming Ibelis (SVP/Managing Dir North America)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-18	Stock Appreciation Rights	$53.29	A	16250	Acquired	2021-05-18	Common Stock (16250)	Direct

Footnotes

F1: Consists of stock appreciation rights granted under the Herbalife Ltd. 2005 Stock Incentive Plan, of which 20% will vest May 18, 2012, 20% will vest May 18, 2013, and 60% will vest May 18, 2014.