L'Oréal announces divestiture of Johnson Product Brand to Wella AG

Paris, December 15, 2000 :

L'ORÉAL ANNOUNCES DIVESTITURE OF JOHNSON PRODUCT BRANDS TO WELLA AG .

Paris (December 15th , 2000) -- L'Oréal USA has signed a contract to divest two brands of Johnson Products to Wella AG, following a directive from the Department of Justice.

In order to complete the acquisition of Carson Products, which was purchased this summer, the Department of Justice required L'Oréal USA to divest the Gentle Treatment and Ultra Sheen Supreme brands along with the Johnson Products name. Wella was the highest bidder and was able to meet the requirements of the Department of Justice for approval of the deal within the time allowed.

Under the terms of their agreement, L'Oréal will be making the products for Wella for up to 12 months at the Johnson plant in Chicago.

All of the other Carson brands, including Dark & Lovely and Magic Shave and the 14 Soft Sheen brands, including Optimum Care, Breakthru and Mizani, remain with L'Oréal and provide a comprehensive offering to the African American consumer.