company THE NEW ELIZABETH ARDEN milestones IS BUILT ON A SOLID FOUNDATION MARCH 1995 Acquisition of Geoffrey Beene fragrances from Sanofi Beaute OF PROVEN SUCCESS MARCH 1996 Acquisition of Halston fragrances from Halston Borghese annual report 2001 AND A TIMELESS JULY 1996 Public offering of $30 million in Common Stock at $6.00 per share BRAND NAME THAT DENOTES JANUARY 1997 Launch of Eau de Grey Flannel by Geoffrey Beene (FiFi Award nominee) THE ESSENCE OF TRUE BEAUTY. APRIL 1997 Acquisition of new exclusive license agreement for Salvador Dali MAY 1997 Offering of $115 million principal amount of 10 3/8% Senior Notes due 2007 MARCH 1998 Acquisition of Assets of J.P. Fragrances, which includes distribution rights for a portfolio of prestige fragrance brands APRIL 1998 Offering of $40 million principal amount of 10 3/8% Senior Notes due 2007 AUGUST 1998 Launch of Sheer Halston and Halston Z (FiFi Award nominees) NOVEMBER 1998 Exclusive license agreement with The Proctor & Gamble Company for the Wings by Giorgio Beverly Hills fragrance brand JANUARY 1999 Acquisition of Paul Sebastian fragrance lines from Paul Sebastian JANUARY 2001 Acquisition of, the Elizabeth Arden skin care, cosmetic and fragrance brands and the Elizabeth Taylor fragrance brands Offering of $160 million principal amount of 11 3/4% Senior Secured Notes due 2011 toeach cri eate her own my own spotlight Elizabeth Arden Flawless Finish Foundation Find your perfect match at the Elizabeth Arden counter.The ideal shade, the coverage you want, the look you love, plus the skincare benefits you need. The choice is yours, including new Flawless Co. Arden © Elizabeth 2001 Finish Makeup Stick SPF 15, the portable, Red Door Fragrance blendable silky finish formula that glides on anytime, anywhere. © 2001 Elizabeth Arden,© Elizabeth 2001 Inc. www.elizabetharden.com www.elizabetharden.com company THE NEW ELIZABETH ARDEN milestones IS BUILT ON A SOLID FOUNDATION MARCH 1995 Acquisition of Geoffrey Beene fragrances from Sanofi Beaute OF PROVEN SUCCESS MARCH 1996 Acquisition of Halston fragrances from Halston Borghese annual report 2001 AND A TIMELESS JULY 1996 Public offering of $30 million in Common Stock at $6.00 per share BRAND NAME THAT DENOTES JANUARY 1997 Launch of Eau de Grey Flannel by Geoffrey Beene (FiFi Award nominee) THE ESSENCE OF TRUE BEAUTY. APRIL 1997 Acquisition of new exclusive license agreement for Salvador Dali MAY 1997 Offering of $115 million principal amount of 10 3/8% Senior Notes due 2007 MARCH 1998 Acquisition of Assets of J.P. Fragrances, which includes distribution rights for a portfolio of prestige fragrance brands APRIL 1998 Offering of $40 million principal amount of 10 3/8% Senior Notes due 2007 AUGUST 1998 Launch of Sheer Halston and Halston Z (FiFi Award nominees) NOVEMBER 1998 Exclusive license agreement with The Proctor & Gamble Company for the Wings by Giorgio Beverly Hills fragrance brand JANUARY 1999 Acquisition of Paul Sebastian fragrance lines from Paul Sebastian JANUARY 2001 Acquisition of, the Elizabeth Arden skin care, cosmetic and fragrance brands and the Elizabeth Taylor fragrance brands Offering of $160 million principal amount of 11 3/4% Senior Secured Notes due 2011 toeach cri eate her own my own spotlight Elizabeth Arden Flawless Finish Foundation Find your perfect match at the Elizabeth Arden counter.The ideal shade, the coverage you want, the look you love, plus the skincare benefits you need. The choice is yours, including new Flawless Co. Arden © Elizabeth 2001 Finish Makeup Stick SPF 15, the portable, Red Door Fragrance blendable silky finish formula that glides on anytime, anywhere. © 2001 Elizabeth Arden,© Elizabeth 2001 Inc. www.elizabetharden.com www.elizabetharden.com to our shareholders corporate and investor information WELCOME TO THE NEW ACQUISITION HIGHLIGHTS DIRECTORS corporate headquarters ELIZABETH ARDEN! [comparisons to prior year period given effect Elizabeth Arden, Inc. to the acquisition] E. SCOTT BEATTIE 14100 N.W. 60th Avenue This has been a momentous year for our Chairman, President and Miami Lakes, FL 33014 company. The acquisition of Elizabeth Arden Increased revenues from $361 million to Chief Executive Officer 305.818.8000 makes us one of the largest prestige beauty pro forma $870 million Elizabeth Arden, Inc. www.elizabetharden.com Miami, FL companies in the world. Elizabeth Arden investor relations has one of the most impressive brand Increased EBITDA 2.5 x from $56 to pro J.W. NEVIL THOMAS A copy of our annual report on Form 10-K for portfolios in the industry, including the top forma $137 million Chairman, Bedford Capital Corporation the fiscal year ended January 31, 2001, as filed Toronto, Canada with the Securities and Exchange Commission, will ranked fragrance brands Red Door, Elizabeth Reduced leverage from 3.2 x to pro forma be mailed at no charge upon written request: Arden green tea, Elizabeth Taylor's White FRED BERENS Elizabeth Arden, Inc., Investor Relations, 2.6 x debt to EBITDA Diamonds and the Elizabeth Arden skin care Senior Vice President – Investments 14100 N.W. 60th Avenue, Miami Lakes, FL 33014. Prudential Securities, Inc. and color cosmetic lines. Expanded owned brand portfolio from Miami, FL Shareholders, analysts, investors and others 40% to 74% of sales on a pro forma basis seeking Company information, including The heritage of one of the most recognizable GEORGE DOOLEY annual reports filed with the Securities and brand names in the world, coupled with President and Chief Executive Officer Exchange Commission, should contact the Improved average gross profit margin Community Television Foundation Sr. Vice President, Finance at 305.818.8102 our company's model for success, offers us from 30% to 56% on a pro forma basis of South Florida, Inc. (WPBT-TV) or 1.800.227.2445. tremendous opportunity for growth and Miami, FL improved shareholder equity. Diversified business base from product, transfer agent and registrar RICHARD C.W. MAURAN channel and geographical perspectives Mellon Investor Services LLC Private Investor Overpeck Centre London, England 85 Challenger Road Improved business efficiencies by adding Ridgefield Park, NJ 07660 global logistics and fulfillment facilities WILLIAM M. TATHAM 1.800.756.3353 Former Chairman and CEO www.mellon-investor.com Janna Systems, Inc. You never forget a Provided equity sponsorship with Toronto, Canada woman in diamonds independent auditors Unilever as the company's largest (aquired by Siebel Systems, Inc., December 2000) PricewaterhouseCoopers LLP shareholder (18%) on a diluted basis 400 Campus Drive Florham Park, NJ 07932 Reduce integration-related risks by EXECUTIVE OFFICERS 973.236.4000 entering into multi-year service contracts annual meeting E. SCOTT BEATTIE The annual meeting of shareholders of Chairman, President and Elizabeth Arden, Inc. will be held at the Chief Executive Officer company's executive offices, 14100 N.W. 60th © 2000 Parfums International Ltd. Avenue, Miami Lakes, FL 33014, on PAUL WEST September 13, 2001 at 10:00 am Eastern well diversified business Executive Vice President Daylight Savings Time. pro forma basis and Chief Operating Officer STEPHEN J. SMITH common stock information The company's common stock is traded Executive Vice President product line geographic region distribution channel on the Nasdaq Stock Market under the and Chief Financial Officer OTHER INTERNATIONAL symbol "RDEN". COLOR 5% 31% COSMETICS ASIA-PACIFIC GRETCHEN GOSLIN 10% 4% Executive Vice President, US Business Development 69% SKIN CARE EUROPE US MASS 18% 22% RETAIL OSCAR E. MARINA 35% Senior Vice President, General Councel and Secretary Elizabeth Taylor FRAGRANCE US PRESTIGE makes summer sparkle 72% 20% ELIZABETH A. TUTTLE makes summer sparkle US MID-TIER Sparkling White Diamonds International,Parfums Ltd. Senior Vice President 2000 14% For a limited time only © and Treasurer to our shareholders corporate and investor information WELCOME TO THE NEW ACQUISITION HIGHLIGHTS DIRECTORS corporate headquarters ELIZABETH ARDEN! [comparisons to prior year period given effect Elizabeth Arden, Inc. to the acquisition] E. SCOTT BEATTIE 14100 N.W. 60th Avenue This has been a momentous year for our Chairman, President and Miami Lakes, FL 33014 company. The acquisition of Elizabeth Arden Increased revenues from $361 million to Chief Executive Officer 305.818.8000 makes us one of the largest prestige beauty pro forma $870 million Elizabeth Arden, Inc. www.elizabetharden.com Miami, FL companies in the world. Elizabeth Arden investor relations has one of the most impressive brand Increased EBITDA 2.5 x from $56 to pro J.W. NEVIL THOMAS A copy of our annual report on Form 10-K for portfolios in the industry, including the top forma $137 million Chairman, Bedford Capital Corporation the fiscal year ended January 31, 2001, as filed Toronto, Canada with the Securities and Exchange Commission, will ranked fragrance brands Red Door, Elizabeth Reduced leverage from 3.2 x to pro forma be mailed at no charge upon written request: Arden green tea, Elizabeth Taylor's White FRED BERENS Elizabeth Arden, Inc., Investor Relations, 2.6 x debt to EBITDA Diamonds and the Elizabeth Arden skin care Senior Vice President – Investments 14100 N.W. 60th Avenue, Miami Lakes, FL 33014. Prudential Securities, Inc. and color cosmetic lines. Expanded owned brand portfolio from Miami, FL Shareholders, analysts, investors and others 40% to 74% of sales on a pro forma basis seeking Company information, including The heritage of one of the most recognizable GEORGE DOOLEY annual reports filed with the Securities and brand names in the world, coupled with President and Chief Executive Officer Exchange Commission, should contact the Improved average gross profit margin Community Television Foundation Sr. Vice President, Finance at 305.818.8102 our company's model for success, offers us from 30% to 56% on a pro forma basis of South Florida, Inc. (WPBT-TV) or 1.800.227.2445. tremendous opportunity for growth and Miami, FL improved shareholder equity. Diversified business base from product, transfer agent and registrar RICHARD C.W.