This note presents a parameter estimation routine that allows exact reconstruction of the unknown parameters in finite time provided a given excitation condition is satisfied. The robustness of the routine to an unknown bounded disturbance or modeling error is also shown. The result is independent of the control and identifier structures employed. The true parameter value is obtained without requiring the measurement or computation of the velocity state vector. Moreover, the technique provides a direct solution to the problem of removing auxiliary perturbation signals when parameter convergence is achieved.