HERBALIFE LTD. — Director's Dealing 2011

May 9, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

Reporting Person: Cuesta Patricio (SVP/Managing Director SAM)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-05	Common Stock	S	1158	$104.17	Disposed	1554	Direct
2011-05-05	Common Stock	M	3600	$40.28	Acquired	5154	Direct
2011-05-05	Common Stock	D	2172	$103.47	Disposed	2982	Direct
2011-05-05	Common Stock	M	1500	$43.13	Acquired	4482	Direct
2011-05-05	Common Stock	D	933	$103.47	Disposed	3549	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-05	Stock Appreciation Rights	$40.28	M	3600	Disposed	2017-12-31	Common Stock (3600)	Direct
2011-05-05	Stock Appreciation Rights	$43.13	M	1500	Disposed	2018-02-28	Common Stock (1500)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $104.11 to $104.14. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F2: Consists of stock appreciation rights granted under the Herbalife Ltd. 2005 Stock Incentive Plan that were fully vested as of December 31, 2010.

F3: Consists of stock appreciation rights granted under the Herbalife Ltd. 2005 Stock Incentive Plan that were fully vested as of February 28, 2011.