A cosmetic topical formulation and method are directed toward diminishing skin wrinkling and fine lines and improving skin tone. It contains a matrix metalloproteinase inhibitor, MMPI, e.g. batimastat or marimastat, and a natural estrogen, e.g., a true estrogen compound, such as 17-beta estradiol, or an estrogen-like steroid (such as various phytoestrogens found in herbal preparations). Exemplary phytoestrogens include triterpenoid glycosides. Certain compositions of this invention are useful for minimizing photodamage to skin, while in other embodiments, a composition according to this invention is useful to prevent or minimize the adverse effects on skin induced by cigarette smoking. The method of the invention involves administering the components such as in a dermal preparation.