L’Oreal Usa Reaches Agreement With Department Of Justice Regarding Carson Tender Offer Group

PARIS (August 1st, 2000 - 7 a.m.) - L'OREAL USA, Inc., formerly known as COSMAIR, Inc., announced today that it has reached an agreement with the Department of Justice that will allow it to complete its cash tender offer for all outstanding Class A Common Stock of CARSON, Inc. at $5.20 net per share. The agreement calls for L'OREAL USA to divest, after completion of the tender offer, CARSON's "Gentle Treatment" and "Ultra Sheen Supreme" relaxer brands (together with the related maintenance products and the Johnson Products name).

L'OREAL's main interest in the United States was to acquire the Dark & Lovely franchise, the men's shaving line Magic Shave and the Dermablend business. Additionally, on an international basis, the CARSON business in South Africa provides a platform for L'OREAL to expand its ethnic business throughout Africa.