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MAYBELLINE CONSIDERING ACQUISITION OF YARDLEY GROUP IN LONDON

 MEMPHIS, Tenn., July 19 /PRNewswire/ -- Maybelline, Inc. (NYSE: MAY) today announced that it had begun negotiations concerning the acquisition by Maybelline of the Yardley Group in London owned by Old Bond Street (U.K.) Ltd.
 Yardley is the owner of the Yardley of London brand outside of North America as well as other internationally known consumer brands. Maybelline previously acquired rights to the Yardley of London trade name and related intellectual property rights in North America. Wasserstein Perella Management Partners, through limited partnerships which it controls, beneficially owns all of the stock of Old Bond Street and approximately 70 percent of the common stock of Maybelline.
 "The aggressive pursuit of international expansion and growth is a key element of Maybelline's long-term strategy," said Maybelline President and Chief Executive Officer Robert N. Hiatt. "The addition of Yardley's extensive international distribution network, consisting of subsidiaries in eight countries and other distribution arrangements in nearly 40 others, could accelerate Maybelline's achievement of that strategy." In addition, Maybelline could benefit from other synergies between the two businesses in international markets. For example, Yardley serves as the exclusive distributor of Maybelline products in Australia and Colombia.
 A committee consisting of outside directors of Maybelline has been established to consider a possible transaction. The negotiations will be predicated on structuring a transaction that would not result in earnings dilution to Maybelline. In that regard, part of the consideration to be paid could be dependent upon the future performance of the combined international businesses. The parties emphasized that the talks are at a very preliminary stage and no assurances can be given as to whether a transaction will be consummated or as to its possible timing or terms.
 Headquartered in Memphis, Maybelline, Inc. is a leader in the mass- market color cosmetics business, manufacturing and marketing Eye, Face, Lip and Nail cosmetics and other personal care products for sale in the United States and in selected international markets. The company markets its products under such well-recognized brand names as Great Lash, Expert Eyes, Moisture Whip, Revitalizing, Shades of You, Shine Free and Yardley of London. Maybelline products are carried by virtually every major mass-market retailer in the United States and are also distributed in approximately 40 countries.
 Yardley is headquartered near London, England, and produces soaps, cosmetics, fragrances, skin care products and bath luxury products under the Yardley of London brand name as well as under such other internationally known brands as Lentheric, Morny and Cyclax. Yardley's principal brands and products enjoy a high degree of acceptance and brand awareness among consumers in its principal markets throughout the world.
 Wasserstein Perella Management Partners is the merchant banking unit of Wasserstein Perella Group, Inc., a New York-based international investment banking firm.
 -0- 7/19/93
 /CONTACT: Joan Lollar of Maybelline, 901-320-2460/
 (MAY)


CO: Maybelline, Inc.; Yardley Group; Old Bond Street Ltd.; Wasserstein
 Perella Management Partners ST: Tennessee IN: REA SU: TNM


CM-SB -- CH005 -- 3112 07/19/93 13:33 EDT
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Publication:PR Newswire
Date:Jul 19, 1993
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