Ulta Debuts Online Video of Chicago State Street Store

Business Wire, Oct 22, 2008

Store Marks Ulta's First Urban Location

ROMEOVILLE, Ill. -- Ulta Salon, Cosmetics & Fragrance, Inc. [NASDAQ:ULTA], today announced that it has posted to the Investor Relations section of its website, at http://ir.ulta.com a video debuting its first urban store location in Chicago, IL. The store, located on 114 South State Street (at Monroe), opened on Wednesday, October 15, 2008 and includes 18,000 square feet of selling and salon space on four floors. With this opening, the Company evolves the Ulta concept to serve an urban market by showcasing its prestige vendors and offering consumers access to more than 21,000 beauty products. Ulta on State Street provides customers an approachable experience and the ability to interact with an unparalleled selection of brand-name cosmetics, fragrances, skin and hair care products, along with a full-service in-store salon. Ulta on State Street is positioned to become Chicago's premier beauty retailer.

About Ulta

Ulta is the largest beauty retailer that provides one-stop shopping for prestige, mass and salon products and salon services in the United States. Ulta provides affordable indulgence to its customers by combining the product breadth, value and convenience of a beauty superstore with the distinctive environment and experience of a specialty retailer. Ulta offers a unique combination of over 21,000 prestige and mass beauty products across the categories of cosmetics, fragrance, haircare, skincare, bath and body products and salon styling tools, as well as salon haircare products. Ulta also offers a full-service salon in all of its stores. The Company currently operates 283 retail stores across 34 states and also distributes its products through the Company's website: www.ulta.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which reflect our current views with respect to, among other things, future events and financial performance. You can identify these forward-looking statements by the use of forward-looking words such as "outlook," "believes," "expects," "plans," "estimates," or other comparable words. Any forward-looking statements contained in this press release are based upon our historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. Such forward-looking statements are subject to various risks and uncertainties, which include, without limitation: the impact of weakness in the economy; changes in the overall level of consumer spending; changes in the wholesale cost of our products; the possibility that we may be unable to compete effectively in our highly competitive markets; the possibility that our continued opening of new stores could strain our resources and have a material adverse effect on our business and financial performance; the possibility that new store openings may be impacted by developer or co-tenant issues; the possibility that the capacity of our distribution and order fulfillment infrastructure may not be adequate to support our recent growth and expected future growth plans; the possibility of material disruptions to our information systems; weather conditions that could negatively impact sales and other risk factors detailed in our public filings with the Securities and Exchange Commission (the "SEC"), including risk factors contained in our Annual Report on Form 10-K for the year ended February 2, 2008. Our filings with the SEC are available at www.sec.gov. The Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.