FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * BOUSQUET CHAVANNE PATRICK   2. Issuer Name and Ticker or Trading Symbol ESTEE LAUDER COMPANIES INC [EL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Group President (Last) (First) (Middle) THE ESTEE LAUDER COMPANIES INC., 767 FIFTH AVENUE 3. Date of Earliest Transaction (Month/Day/Year) 06/13/2008 (Street) NEW YORK, NY 10153 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class A Common Stock 06/13/2008   M(1)   30,000 A $ 40.5 31,322 D   Class A Common Stock 06/13/2008   S(1)   30,000 D $ 48.5 1,322 D   Class A Common Stock 06/13/2008   M(2)   16,666 A $ 39.56 17,988 D   Class A Common Stock 06/13/2008   S(2)   16,666 D $ 48.6 1,322 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Option (Right to Buy)

$ 40.5

06/13/2008

M(1)

30,000

01/01/2004(1)

07/26/2011

Class A Common Stock

30,000

(3)

0

D

Option (Right to Buy)

$ 39.56

06/13/2008

M(2)

16,666

01/01/2008(2)

09/20/2016

Class A Common Stock

16,666

(3)

33,334 (4)

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
BOUSQUET CHAVANNE PATRICK THE ESTEE LAUDER COMPANIES INC. 767 FIFTH AVENUE NEW YORK, NY 10153			Group President

Signatures

Patrick Bousquet-Chavanne, by Spencer G. Smul, attorney-in-fact		06/16/2008
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Patrick Bousquet-Chavanne ("PBC") exercised options and sold shares of Class A Common Stock pursuant to a plan intended to comply with Rule 10b5-1(c) previously entered on November 13, 2007 and amended May 30, 2008. Stock Options were granted pursuant to a Fiscal 1999 Share Incentive Plan in respect of 33,000 shares exercisable from and after January 1, 2004; 33,000 shares exercisable from and after January 1, 2005; and 34,000 shares exercisable from and after January 1, 2006.
(2)	PBC exercised options and sold shares of Class A Common Stock pursuant to a plan intended to comply with Rule 10b5-1(c) previously entered on November 13, 2007 and amended May 30, 2008. Stock Options were granted pursuant to a Fiscal 2002 Share Incentive Plan in respect of 16,666 shares exercisable from and after January 1, 2008; 16,667 shares exercisable from and after January 1, 2009; and 16,667 shares exercisable from and after January 1, 2010.
(3)	Not applicable.
(4)	The Reporting Person also has options to purchase at various prices 412,501 shares of Class A Common Stock of which 300,000 are currently exercisable.

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