FACES COSMETICS PLC ("FACES" OR THE "COMPANY")                 

                     SENIOR APPOINTMENT, GRANT OF WARRANTS                     
                         AND RELATED PARTY TRANSACTION                         


SENIOR APPOINTMENT

The Board is pleased to announce the appointment of Rajat Wahi as Chief
Operating Officer, International with immediate effect.

Mr Wahi will lead the proposed expansion into India, The Middle East and
Eastern Europe from the Company's Indian office, to be established in Delhi.
His appointment will complement the Company's existing business development
team. Mr. Wahi, formerly a senior executive at Revlon, has considerable
experience in establishing new brands in these markets.

Mr Wahi was a member of Revlon's European leadership team responsible for its
strategy and direction. He has held regional management roles in London, Russia
and Italy before becoming the General Manager of Revlon Euro-International and
Revlon Italy. His experience includes launching Revlon and affiliated brands
and developing strong relationships with leading retailers in those regions. Mr
Wahi has also implemented product distribution strategies and training systems
throughout Russia, the Middle East and Europe. Mr Wahi speaks English, Russian
and Hindi.

Commenting on the appointment, Ramesh Jolly, President and CEO, said "I am
immensely pleased that Rajat has agreed to join us. He will bring a wealth of
experience with him and will extend the reach and size of our international
expansion efforts. I am looking forward to growing our business with him for
the benefit of our clients and shareholders."

GRANT OF WARRANTS

To incentivise key personnel with effect on 27 May 2008, the Board has resolved
to grant new warrants to Rajat Wahi, over 14,916,576 new ordinary shares
representing approximately 8.4 per cent. of the issued ordinary share capital
of the Company and approximately 5.1 per cent. of the enlarged capital,
assuming that all outstanding warrants and options are exercised.

The terms of the warrant issue to Mr Wahi provide, inter alia, for vesting in
three equal tranches on the first, second and third anniversaries of his
employment and that the warrants will be exercisable at the following prices;
4,972,192 at 5p share per ordinary share; 4,972,192 at 6p per ordinary share
and 4,972,192 at 7p per ordinary share. The warrants will expire on 31 July
2014 if not exercised by that date. There are no performance conditions
attaching to the new grant.

On 13 November 2007, the Company granted warrants over 20,000,000 new ordinary
shares to Ramesh Jolly to incentivise him to implement the Company's strategy
following the subscription by Indivision Ventures II. The Board today announces
that it agreed to a Deed of Variation varying the terms of the warrants
previously granted to Mr Jolly.

On 13 November 2007, Mr Jolly was issued with warrants exercisable at any time
until 31 July 2012 at the following prices; 6,666,666 at 6p per ordinary share;
6,666,666 at 8p per ordinary share and 6,666,668 at 10p per ordinary share. On
27 May 2008, pursuant to the Deed of Variation, the terms of the November 2007
warrant issue to Mr Jolly have been varied such that Mr Jolly be granted
additional warrants over 1,400,000 new ordinary shares and that his warrants
are exercisable at the following prices; 7,133,333 at 5p share per ordinary
share; 7,133,333 at 6p per ordinary share and 7,133,334 at 7p per ordinary
share. All other terms and conditions of the warrant instrument shall continue
in full force and effect. Following the grant Mr Jolly will hold warrants over
21,400,000 new ordinary shares representing approximately 12.0 per cent of the
issued ordinary share capital of the Company and approximately 7.4 per cent. of
the enlarged capital, assuming that all outstanding warrants and options are
exercised.

The Board believes that the recruitment and retention of key personnel is an
important driver to the success of the Company. Consequently, the Board has
approved the issue of warrants to Mr Wahi and the variations to Mr Jolly's
warrants as set out above.

RELATED PARTY TRANSACTION

The grant of warrants to Ramesh Jolly (a director of the Company) and the Deed
of Variation between the Company and Mr Jolly are Related Party Transactions as
defined in the AIM Rules.

Where a company whose shares are listed on AIM enters into a Related Party
Transaction, AIM Rule 13 requires the directors of the Company to consider,
having consulted with the Company's nominated adviser, that the terms of the
transaction are fair and reasonable insofar as its shareholders are concerned.

Taking into account the Company's need to incentivise key personnel, the
Directors consider, having consulted with Dowgate Capital Advisers Limited, the
Company's Nominated Adviser, that the terms of the related party transactions
with Mr Jolly are fair and reasonable insofar as the Company's shareholders are
concerned.

The issued share capital of the Company is 178,363,343 ordinary shares.

In addition, there are 30,119,015 convertible preference shares of 1p each in
the capital of the Company in issue and 2,800,000 options to subscribe for
ordinary shares of the Company.

Following the grants of warrants referred to above, there will be a balance of
109,822,153 warrants to subscribe for ordinary shares of the Company.


For further information please contact:

Ramesh Jolly  Chief Executive Officer      Faces Cosmetics plc           +1(905)760 0110 Ext.112    
Jim McGeever  Director                     Dowgate Capital Advisers Ltd  +44 (0) 20 7492 4777   
Aaron Smyth   Assistant Director           Dowgate Capital Advisers Ltd  +44 (0) 20 7492 4777     
Ian Callaway  Head of Corporate Broking    SVS Securities plc            +44 (0) 20 7638 5600       
                                                           


END
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