Revlon Provides Update on Previously-Announced 1-for-10 Reverse Stock Split

2008-05-23 22:37:38 -

www.revlon.com - Revlon, Inc. (NYSE: REV) ("Revlon" or the "Company") announced today that, as previously reported in its April 11, 2008 Current Report on Form 8-K filed with the SEC, the Company was advised by the New York Stock Exchange in April 2008 that the price of its Class A common stock was below the NYSE's price criteria, requiring at

least a $1.00 per share average closing price over 30 consecutive trading days. The Company's Class A common stock continues to be listed on the NYSE.

In April 2008, Revlon immediately advised the NYSE that its Board of Directors and stockholders had already approved a 1-for-10 reverse stock split of Revlon's Class A and Class B common stock and that it intended to regain compliance with the NYSE's price criteria, by, among other things, implementing the split. Revlon has 6 months following the April 2008 notification to bring its share price and 30 trading day average share price to $1.00 or above, during which time the Company's Class A common stock will continue to be listed on the NYSE.

About Revlon

Revlon is a worldwide cosmetics, hair color, beauty tools, fragrances, skincare, anti-perspirants/deodorants and personal care products company. The Company's vision is to provide glamour, excitement and innovation to consumers through high-quality products at affordable prices. Websites featuring current product and promotional information can be reached at www.revlon.com, www.almay.com and www.mitchumman.com. Corporate and investor relations information can be accessed at www.revloninc.com. The Company's brands, which are sold worldwide, include Revlon(R), Almay(R), Mitchum(R), Charlie(R), Bozzano(R), Gatineau(R) and Ultima II(R). Forward-Looking Statements

Statements made in this press release, which are not historical facts, including statements about the Company's plans, strategies, beliefs and expectations, are forward-looking and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date they are made and, except for the Company's ongoing obligations under the U.S. federal securities laws, the Company undertakes no obligation to publicly update any forward-looking statement, whether to reflect actual results of operations; changes in financial condition; changes in general economic, industry or cosmetics category conditions; changes in estimates, expectations or assumptions; or other circumstances or events arising after the issuance of this press release. Such forward-looking statements include, without limitation, the Company's beliefs, expectations and/or plans regarding our intent to regain compliance with the NYSE's price criteria, by, among other things, implementing the split. Actual results may differ materially from such forward-looking statements for a number of reasons, including those set forth in our filings with the SEC, including, without limitation, our 2007 Annual Report on Form 10-K filed with the SEC in March 2008 and our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that we will file with the SEC during 2008, including the Form 10-Q filed with the SEC on May 6, 2008 (which may be viewed on the SEC's website at www.sec.gov or on our website at www.revloninc.com), as well as reasons including our stock price being insufficient to regain compliance with the NYSE's price criteria, such as due to our inability to increase the price of shares of our Class A common stock in an amount sufficient to satisfy compliance with the NYSE's price criteria, future decreases in the trading price of shares of our Class A common stock and/or delays or changes in the timing of the reverse stock split and there can be no assurances that the reverse stock split will be consummated or that it will achieve its intended effects. Factors other than those listed above could also cause the Company's results to differ materially from expected results. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, the Company's websites or other websites referenced herein shall not be incorporated by reference into this release.

Revlon, Inc.
Investor Relations & Media
Abbe F. Goldstein, CFA
212-527-6465