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REGIS CORPORATION ANNOUNCES RESULTS

 MINNEAPOLIS, April 22 /PRNewswire/ -- Regis Corporation (NASDAQ: RGIS) today reported sales and earnings for the three- and nine-month periods ended March 31, 1993.
 Sales in the third quarter of fiscal 1993 increased 11.8 percent to $86,161,000, despite the effect of leap year in 1992 and March 1993 snowstorm. Same-store sales increased 0.9 percent. As previously announced, the company recorded a nonrecurring pretax charge of $3,500,000 associated with the recent Chapter 11 bankruptcy of MEI Diversified Inc. (MEI), which resulted in a reported loss for the quarter of $(680,000), or $(.07) per share. Exclusive of this charge, the company would have recognized third-quarter earnings of $1,315,000, or $.14 per share, a 75 percent increase over earnings of $753,000, or $.08 per share in the third quarter last year.
 Sales through the first nine months of fiscal 1993 increased 11.2 percent to $252,725,000, including a same-store sales increase of 3.2 percent. Net income for the nine-month period ended March 31, 1993 was $2,520,000, or $.27 per share. Exclusive of the nonrecurring charge associated with the MEI bankruptcy, the company's nine month earnings would have increased 56 percent to $4,666,000, or $.50 per share, compared to earnings of $2,956,000, or $.32 per share, in the same nine months last year.
 Paul Finkelstein, president of Regis stated, "We are most pleased with our third quarter operating performance, as all divisions enjoyed increases in operating profit. In addition, we recently opened our first Sears Roebuck salon in Mexico and will soon open a second location. We are very bullish on future expansion and profitability potential, not only in Mexico but in all of our worldwide markets." Mr. Finkelstein continued, "The MEI bankruptcy occurred in the third quarter which caused us to write down the value of certain assets on our balance sheet. We may also be required to record up to an additional $2.5 million pretax charge pending the classification of certain other claims in the MEI bankruptcy proceeding. With the resolution of this remaining item, we will have cleansed our balance sheet of these MEI- related issues and have put them behind us."
 Regis opened 30 new Regis Hairstylists salons and 28 MasterCuts units during the first nine months of fiscal 1993 and completed 35 major remodelings. Salon development continues to be financed entirely by operating cash flow (operating income plus noncash items), which totalled $23,466,000 during the first nine months of fiscal 1993, up 15.9 percent from $20,242,000 in the same period last year.
 Regis Corporation owns and operates 1,302 hairstyling salons in the United States and in several foreign countries, including 54 beauty stores/salons, and employs nearly 15,000 associates worldwide.
 REGIS CORPORATION
 Consolidated Statement of Operations
 (Unaudited, In Thousands, Except Per Share Amounts and Salon Data)
 Period Ended Three Months Nine Months
 March 31, 1993 1992 1993 1992
 Sales $ 86,161 $77,091 $ 252,725 $ 227,191
 Operating income 4,527 3,682 14,511 12,378
 MEI Salons nonrecurring
 charge (3,500) -- (3,765) --
 Income (loss) before taxes (1,143) 1,483 4,485 5,834
 Net income (loss) (680)(A) 753 2,520(B) 2,956
 Net income (loss) per share $(.07)(A) $.08 $.27(B) $.32
 Weighted average number
 of shares outstanding 9,380 9,380 9,380 9,342
 Number of salons and retail
 beauty stores/salons open
 at end of period -- -- 1,302 1,141
 Notes:
 (A) Exclusive of the MEI Salons nonrecurring charge, third-quarter earnings would have been $1,315, or $.14 per share.
 (B) Exclusive of the MEI Salons nonrecurring charge, nine-month earnings would have been $4,666, or $.50 per share.
 -0- 4/22/93
 /CONTACT: Paul D. Finkelstein or Frank E. Evangelist or Jack T. Holewa, 612-929-6776, all of Regis Corporation, or David Walke or Amy Weisman, both of Morgen-Walke Associates, Inc., 212-986-5900, for Regis Corporation/
 (RGIS)


CO: Regis Corporation ST: Minnesota IN: HOU SU: ERN

TM-LD -- NY006 -- 9156 04/22/93 08:03 EDT
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Date:Apr 22, 1993
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