haircolorxpress International Signs Leases to Open First Salons in New York; Company to Increase Presence in Florida and New Jersey

Business Wire, August 1, 2002

Business Editors

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Aug. 1, 2002

haircolorxpress International LLC (HCX), the nation's first franchisor of salons offering hair-color and custom-blended cosmetic services, today announced it has signed leases to open its first salons in New York, as well as four new salons in New Jersey and two in Florida.

haircolorxpress currently has seven salons open in Florida and commitments to open approximately 25 additional salons nationwide by the end of this year. The company brings to the $53 billion salon industry a system of business controls, training and marketing support to help franchisees succeed at salon ownership.

During the second quarter of 2002, haircolorxpress has signed:

New York

-- A five-year lease with Chessman Realty Associates for 1,750 square feet located at 1082 U.S. Highway 46 in Parsippany, N.J. haircolorxpress of Northern New Jersey is looking for a franchisee to own and operate the salon, which is expected to open in August.

-- A five-year lease with Caydenzan Associates for 1,600 square feet at Holmdel Commons, located at Route 35 and Laurel Avenue in Holmdel, N.J. haircolorxpress Development of NJ-PA is looking for a franchisee to own and operate the salon, which is expected to open in December.

-- A 10-year lease with Stanbery Development for 1,509 square feet at Union Hill Plaza, located at 3056-G State Route 10 West, Denville, N.J. 07834. haircolorxpress of Northern N.J. is looking for a franchisee to own and operate the salon, which is expected to open in December.

New Jersey

-- A five-year lease with Chessman Realty Associates for 1,750 square feet located at 1082 U.S. Highway 46 in Parsippany, N.J. haircolorxpress of Northern New Jersey is looking for a franchisee to own and operate the salon, which is expected to open in August.

-- A five-year lease with Caydenzan Associates for 1,600 square feet at Holmdel Commons, located at Route 35 and Laurel Avenue in Holmdel, N.J. haircolorxpress Development of NJ-PA is looking for a franchisee to own and operate the salon, which is expected to open in December.

-- A 10-year lease with Stanbery Development for 1,509 square feet at Union Hill Plaza, located at 3056-G State Route 10 West, Denville, N.J. 07834. haircolorxpress of Northern N.J. is looking for a franchisee to own and operate the salon, which is expected to open in December.

Northeast Florida

-- A 10-year lease with General Growth Properties for 1,523

square feet at the Altamonte Mall, located at 451 Altamonte

Drive in Altamonte Springs, Fla. Franchisees Barry and Diane

Rovelto, licensed beauty professionals, will own and operate

the salon, which haircolorxpress Development of Northeast

Florida expects to open in August.

Southeast Florida

-- A 10-year lease with WSG Development for 1,500 square feet at

2760 N.W. Federal Highway in Jensen Beach, Fla. Franchisee

Lora Connolly, a licensed beauty professional, will own and

operate the salon, which haircolorxpress of Southeast Florida

expects to open in September.

"Since launching this venture, we've sold the rights to develop salons in more than half of the states in the nation, and we're continuing to attract a number of investors and prospective franchisees to join our team," said Larry Feldman, CEO of haircolorxpress. "Our salons are tracking according to plan, and we look forward to continued development efforts and long-term success for our development agents and franchisees."

haircolorxpress' salons are upscale, modern facilities that offer a menu of hair-color services ranging from a single-process hair coloring, which starts at $20, to blonding, which starts at $65. The salons feature a cyber-imaging computer that enables clients to preview desired color shades to ensure they select the perfect color combination. haircolorxpress' beauty advisors create custom-blended cosmetics, including lipstick and foundation that complement clients' hair colors.

About haircolorxpress

haircolorxpress International LLC is the first national franchisor of salons specializing in hair-color and custom-blended cosmetic services. The company provides hair colorists the opportunity to own and operate their own businesses and deliver to consumers high-quality, affordable services. haircolorxpress' salons feature Wella brand hair-color products and have been recognized as Salons of Distinction by Salon Today, one of the industry's leading trade publications. Headquartered in Fort Lauderdale, Fla., haircolorxpress' development agents are currently seeking suitable salon locations in Florida, Maryland, New Jersey, New York, Pennsylvania, Virginia, Washington, D.C., North and South Carolina, Arizona, Nevada, Colorado, Nebraska, Missouri and Iowa.

For more information about becoming a haircolorxpress development agent or franchisee, call (866) HCX-HCX1 or visit http://www.haircolorxpress.com.

Editor's note: Salon photographs available on request.