Former Global President of Neutrogena, Michael McNamara, Tapped To Become New Chief Executive Officer of philosophy, inc.

New York, NY – philosophy, inc., one of the fastest-growing prestige beauty brands in the U.S., today announced the appointment of E. Michael McNamara as Chief Executive Officer, effective May 15, 2007. Mr. McNamara was, until recently, the Global President of Neutrogena Corporation. He will succeed philosophy founder, Cristina Carlino, who will become Executive Chairman.

In January, philosophy entered into a definitive agreement to sell a majority share to The Carlyle Group. Carlyle announced earlier its plans to name a new CEO, enabling Ms. Carlino to focus on creative development, product innovation, communications, training and education.

From 1999 through 2006, Mr. McNamara ran Neutrogena Corporation, a subsidiary of Johnson & Johnson (J&J). He joined Neutrogena as head of marketing in 1995, shortly after it was acquired by J&J. During his tenure, Mr. McNamara led the transformation of Neutrogena from a niche player into a global skincare brand with more than $1 billion in sales. This growth included successful expansion into important new categories like color cosmetics and entry into new geographies. Mr. McNamara has more than 30 years of experience in the personal care sector. Earlier in his career, he held various marketing and general management positions at Procter & Gamble, Noxell, Schering Plough and Gillette.

Cristina Carlino said, "Michael is a dynamic and accomplished leader, with a tremendous track record of building businesses. He has the right experience and capabilities to take philosophy to the next level of success. We were looking for a CEO who would not only help us to manage the operational challenges of our rapidly expanding business, but also one who would bring strategic direction, so that we can harness our talents and capitalize on all the exciting opportunities in front of us. Michael understands and appreciates the unique DNA of our brand and shares our vision for the future. I am excited to be partnering with him."

Carlyle Managing Director and Head of the Consumer & Retail team Sandra Horbach said, "Michael is an extremely talented executive, who brings a wealth of knowledge and experience to philosophy. At Neutrogena, he quadrupled the brand’s sales, while also retaining and reinforcing its distinct brand identity and emotional relevance to consumers. He will apply the same commercial and perceptive sensibilities to philosophy."

Michael McNamara said, "The possibilities at philosophy are endless, and I am thrilled to have yet another opportunity to help build a great brand. philosophy has all the ingredients of a great brand: a powerful concept; superior products; and a culture that fosters innovation and attracts and retains high-quality and deeply committed people. It also has the financial and strategic support of one of the world’s most respected private equity firms and the long-term commitment of its brilliant founder. I am especially excited about the opportunity to partner with Cristina. I have tremendous admiration for what she has created, and I believe, together, we will accelerate the brand’s expansion and break new ground in the industry."

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philosophy, inc.

philosophy is a lifestyle brand that celebrates feeling well and living joyously and wants to inspire its customers to live a better life by being better to themselves. long before the "doctor" skincare brands of today, there was philosophy. born from biomedic, the acclaimed medical company that pioneered some of today’s most popular in-office treatments such as the micropeel. philosophy skincare has long been recommended by dermatologists and plastic surgeons around the country. philosophy is an international skincare and cosmetic company founded in 1996 and headquartered in phoenix, arizona. for more information please visit our website at www.philosophy.com.

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