Regis Increases Ownership in Parent Company of Jean Louis David and Franck Provost Salons

Regis Corporation RGS today announced that it has agreed to increase its ownership stake in Provalliance, the largest hair salon company in Europe. Under the terms of the agreement, Regis will pay approximately $56.0 million to secure an additional 17 percent ownership interest, bringing its total equity position in Provalliance to 46 percent. The transaction is expected to close prior to June 30, 2011, and is projected to add approximately six cents to earnings per share on a full year basis. The transaction results from Regis' acceptance of a previously-disclosed equity put right held by one of the other investors in Provalliance.