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 * Caracappa Roger   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) EVP-Pkg and Quality Assurance (Last) (First) (Middle) THE ESTEE LAUDER COMPANIES INC., 767 FIFTH AVENUE 3. Date of Earliest Transaction (Month/Day/Year) 02/07/2007 (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 02/07/2007   M(1)   8,334 A $ 33.44 8,394.974 D   Class A Common Stock 02/07/2007   M(2)   10,000 A $ 35 18,394.974 D   Class A Common Stock 02/07/2007   M(3)   10,000 A $ 40.23 28,394.974 D   Class A Common Stock 02/07/2007   S(1)(2)(3)   28,334 (4) D $ 46.374 60.974 (5) D

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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)

$ 33.44

02/07/2007

M

8,334

01/01/2005(1)

08/20/2013

Class A Common Stock

8,334

(6)

0 (7)

D

Option (Right to Buy)

$ 35

02/07/2007

M

10,000

01/01/2007(2)

09/26/2015

Class A Common Stock

10,000

(6)

20,000 (7)

D

Option (Right to Buy)

$ 40.23

02/07/2007

M

10,000

01/01/2004(3)

08/22/2011

Class A Common Stock

10,000

(6)

15,000 (7)

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Caracappa Roger THE ESTEE LAUDER COMPANIES INC. 767 FIFTH AVENUE NEW YORK, NY 10153			EVP-Pkg and Quality Assurance

Signatures

Roger Caracappa, by Charles E. Reese, II, attorney-in-fact		02/09/2007
**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)	Stock options granted pursuant to Fiscal 2002 Share Incentive Plan in respect of 8,333 shares exercisable from and after January 1, 2005; 8,333 shares exercisable from and after January 1, 2006; 8,334 shares exercisable from and after January 1, 2007.
(2)	Stock options granted pursuant to Fiscal 2002 Share Incentive Plan in respect of 10,000 shares exercisable from and after January 1, 2007; 10,000 shares exercisable from and after January 1, 2008; 10,000 shares exercisable from and after January 1, 2009.
(3)	Stock options granted pursuant to Fiscal 2002 Share Incentive Plan in respect of 8,333 shares exercisable from and after January 1, 2004; 8,333 shares exercisable from and after January 1, 2005; 8,334 shares exercisable from and after January 1, 2006.
(4)	See Exhibit 99.1.
(5)	Includes .73 shares acquired through dividend reinvestment of 60.244 shares on December 27, 2006.
(6)	Not applicable.
(7)	The Reporting Person also has options to purchase at various prices 185,000 shares of Class A Common Stock of which 130,000 are exercisable.

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