COSMETIC CENTER ANNOUNCES FIRST QUARTER 1998 RESULTS

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COSMETIC CENTER ANNOUNCES FIRST QUARTER 1998 RESULTS
    COLUMBIA, Md., April 29 /PRNewswire/ -- The Cosmetic Center, Inc.
(Nasdaq: COSC) (the "Company") today announced results for its first quarter
ended March 28, 1998.  The Company noted that its results reflect the merger
of Revlon, Inc.'s retail subsidiary, Prestige Fragrance & Cosmetics, Inc.
("Prestige"), with and into The Cosmetic Center, Inc. ("CCI") which became
effective April 25, 1997.  Due to the "reverse acquisition" accounting for the
merger (under which Prestige is considered the acquirer), the historical
financial statements of the Company for the period prior to the merger include
the results of operations of Prestige only, and the financial statements for
the period subsequent to the merger include the results of operations of both
entities.

    FIRST QUARTER RESULTS
    Net sales for the three months ended March 28, 1998 were $37.9 million as
compared to $12.9 million for the three months ended March 31, 1997.  The
increase was attributable primarily to incremental sales resulting from the
merger.  Excluding Cosmetic Center stores, comparable store sales for the
quarter declined to $11.7 million from $12.3 million for the comparable 1997
period.
    Operating loss for the quarter ended March 28, 1998 was $4.5 million as
compared to an operating loss of $2.5 million for the quarter ended
March 31, 1997. Net loss for the quarter ended March 28, 1998 was $5.8 million
compared to a net loss of $2.8 million for the comparable 1997 period.  The
higher loss was due primarily to the inclusion of the operations of CCI and
increased interest expense, offset by certain synergies, all resulting from
the merger.
    "We continue to move forward with our strategy of opening new stores in
locations with greater business opportunities and closing underperforming
stores.  During the quarter we closed seventeen underperforming stores," said
I. Howard Diener, President and Chief Executive Officer.  "We remain focused
on our goal to be 'The leading specialty retailer of beauty products' by
offering a wide selection of brand name beauty products at great value."
    The Cosmetic Center, Inc. is a specialty retailer of brand name cosmetic,
fragrance, skin care, hair and personal care products and related items, sold
at value prices.  As of March 28, 1998, the Company operated 60 retail and
190 outlet stores in the U.S., operating principally under the names The
Cosmetic Center(R) and Prestige Fragrance & Cosmetics.  Retail stores operate
in strip shopping centers located principally in the mid-Atlantic region and
Chicago and offer a broad range of brand name prestige and mass merchandised
products. Outlet stores operate in outlet malls nationwide and sell first
quality, surplus and discontinued products from a wide variety of major
manufacturers.

    FORWARD-LOOKING STATEMENTS
    Information in this press release contains forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995.  Such statements include, without limitation, statements
regarding the consolidation and integration of operations of the Cosmetic
Center and Prestige and expectations as to efficiencies expected to result
from the merger, expectations as to future growth, the Company's strategy with
respect to opening and closing stores and its goal to become the leading
specialty retailer of beauty products.  In addition, factors that may be
described in the Company's commission filings, the following factors, among
others, could cause the Company's actual results to differ materially from
those expressed in any forward-looking statements made by the Company:
1) difficulties or delays in integrating or unanticipated costs to integrate
the operations of the Cosmetic Center and Prestige, 2) difficulties or delays
in realizing benefits of efficiencies or opportunities as a result of the
merger and in realizing future growth, and 3) difficulties or delays or
unanticipated costs in connection with the opening and closing of stores as
part of the Company's business strategy.  The Company assumes no
responsibility to update forward-looking information contained herein.


                          THE COSMETIC CENTER, INC.
                 Unaudited Condensed Statements of Operations
                (dollars in thousands, except per share data)

                                            Three Months Ended
                                    March 28,                March 31,
                                      1998                     1997

    Net sales                     $37,916                 $12,859
    Cost of sales, including
     buying, occupancy and
     distribution                  28,796                   8,703
    Selling, general and
     administrative expenses       13,618                   6,698
    Operating expenses             42,414                  15,401
    Loss from operations          (4,498)                 (2,542)
    Interest expense              (1,311)                   (274)
    Other income, net                  32                      --
    Loss from operations
     before income taxes          (5,777)                 (2,816)
    Provision for income taxes         --                      15
    Net loss                     $(5,777)                $(2,831)
    Basic and diluted net loss
     per common share             $(0.58)                 $(0.33)
    Basic and diluted weighted
     average common shares
     outstanding               10,017,409               8,479,335
SOURCE Cosmetic Center, Inc.
http://www.revlon.com
Company News On-Call:
http://www.prnewswire.com or
fax, 800-758-5804, ext. 110701
CONTACT:
Press: Nancy Risdon, 212-527-5791, or
Investor Relations: Maxine Schwartz, 410-309-4797, both for
Cosmetic Center