L'Oréal

Transaction in Own Shares • Dec 4, 2008

Disclosure of trading in own shares carried out on November 2008

Pursuant to Article 4 paragraph 4 of European Regulation n° 2273/2003 of December 22, 2003 implementing Directive 2003/6/EC of January 28, 2003, and in compliance with Article 241-5 of the AMF's General Regulations, L'Oreal declares below the transactions made on its own shares for the 31/10/2008 to the 07/11/2008 period:

Session of	Number of shares	Weighted average price	Amount in €
		in €
31/10/2008	130,000	57.49	7,474,116
03/11/2008	80,000	58.77	4,701,360
04/11/2008	80,000	60.81	4,864,800
05/11/2008	50,000	62.13	3,106,300
06/11/2008	140,000	60,53	8,474,200
07/11/2008	70,000	62.09	4,346,272
TOTAL	550,000		32,967,048

Pursuant to Article 4 paragraph 4 of European Regulation n° 2273/2003 of December 22, 2003 implementing Directive 2003/6/EC of January 28, 2003, and in compliance with Article 241-5 of the AMF's General Regulations, L'Oreal declares below the transactions made on its own shares for the 10/11/2008 to the 14/11/2008 period:

Session of	Number of shares	Weighted average price in €	Amount in €
10/11/2008	70,000	63.51	4,445,490
11/11/2008	110,000	60.75	6,682,500
12/11/2008	90,000	60.97	5,487,408
TOTAL	270,000		16,615,398

TOTAL	Number of shares	Amount in €
NOVEMBER 2008	820,000	49,582,446

Since its creation by a chemist, almost a century ago, L'Oréal is concentrated on one unique area of expertise, cosmetics. With a turnover of euros 17.1 billion in 2007, the group focuses its activities on 26 global and culturally diverse brands distributed in every distribution channel. L'Oréal Professionnel, Matrix, Kérastase, Redken and Mizani in hair dressing salons. L'Oréal Paris, Maybelline, Garnier, SoftSheen·Carson in mass market. Vichy, La Roche Posay, Inneov, Skinceuticals, Sanoflore in pharmacies and drug stores. Lancôme, Helena Rubinstein, Biotherm, Shu Uemura, Kiehl's, Giorgio Armani, Cacharel, Viktor & Rolf, Diesel, Yves Saint Laurent Beauté and Ralph Lauren in perfumeries and department stores. And The Body Shop in its own stores. Research and innovation are at the core of L'Oréal's strategy. The Group has developed more than 120 new molecules over a period of 40 years. Research teams design new products in all areas of cosmetics: hair color, hair care, skincare, make-up and perfumes.

CONTACTS AT L'ORÉAL Individual shareholders and market authorities M. Jean-Régis CAROF Phone: 01.47.56.83.02 jcarof@dgaf.loreal.com Financial analysts and institutional investors Mme Caroline MILLOT Phone: +33.(0)1.47.56.86.82 cmillot@dgaf.loreal.com

For further information, please contact your bank, broker or financial institution (I.S.I.N. code: FR0000120321), and consult your usual newspapers, and the internet site for shareholders and investors, http://www.loreal-finance.com, or loreal-finance.com mobile edition on your PDA; alternatively, call +33.1.58.13.51.36.

"This document does not constitute an offer to sell, or a solicitation of an offer to buy, L'Oréal shares. If you wish to obtain more comprehensive information about L'Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers [which are also available in English on our Internet site: www.lorealfinance.com].

This document may contain some forward-looking statements. Although the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements."