Table A: US Shaving and Hair Removal Products ($ in Millions)

2005 2006 2007 2008 2009 2010Non-Disposable Razors $ 178 $ 212 $ 188 $ 198 $ 208 $ 218 Refill Cartridges $ 763 $ 801 $ 802 $ 815 $ 832 $ 853 Disposable Razors $ 440 $ 456 $ 477 $ 490 $ 504 $ 522

$ 271 $ 275 $ 269 $ 266 $ 263 $ 260 $ 104 $ 101 $ 106 $ 100 $ 94 $ 88

Source: "Shaving and Hair Removal Products - US - May 2008" Figure 5, Mintel International Group

2008 figures are mid year projections; 2009-2010 figures are estimates

Shaving cream

Depilatories

Average Retail Sales $ 200 $ 811 $ 482 $ 267 $ 99

Table B: 2009 Non-Disposable Razors and Refill Cartridge Retail Sales by Segment

Volume DollarSuper-Premium 25% 34%Moderate 43% 44%Value 32% 22%Information is fictional

Exhibit 1: Behavior Segmentation of Non-disposable Razors Consumers

Involved Razor Users Involved Razor UsersSocial/Emotional Shavers Aesthetic Shavers

(39% of Non-disposable Razor Users) (28% of Non-disposable Razor Users)

Information is fictional

super-preminum moderate

Differentiate among products. Search for products based on both functionality

and messaging.Search for products that most

effectively remove hair.

Shaving as an essential part of a daily grooming ritual.

Shaving is consistently done to remove unwanted hair.

Shaving makes them feel more attractive and confident.

Shaving is a means to smooth skin they desire.

Uninvolved Razor UsersMaintenance Shavers

(33% of Non-disposable Razor Users)

Shaving routine is inconsistent.

value

View products as the same. Lack of interest in product category.

Shaving is a chore they try to finish as quickly as possible.

2009 2010EMedia ($ in Millions) Media ($ in Millions)

Benet & Klein 35.2 36.8Prince 27.8 29.2Paramount 19.1 20.2Simpsons 2.4 15.2Radiance - 16.1

*Media advertising expenditures does not include trade or consumer promotion.

Exhibit 2: Non-Disposable Razor Media Advertising Expenditures* 2009 -2010E

Exhibit 3: Advertising and Promotion Expenditures for Non-Disposable Paramount Razors: 2009 - 2010E ($ in millions)

2009 2010EMedia $ 19.1 $ 20.2 Consumer Promotions $ 11.5 $ 13.1

Trade Promotions $ 13.7 $ 15.0 Total $ 44.3 $ 48.3

Exhibit 3: Advertising and Promotion Expenditures for Non-Disposable Paramount Razors: 2009 - 2010E ($ in millions)

Exhibit 4: % of Non-Disposable Razor Sales by Retail Channel: 2007 - 2010E

2007 2008 2009 2010EVol (%) $ (%) Vol (%) $ (%) Vol (%) $ (%) Vol (%) $ (%)

Food Stores 45 47 44 44 42 42 42 43Drugstores 32 33 31 33 29 33 29 31Mass merchandisers 19 17 18 18 21 20 21 21Club Stores 1 1 4 3 5 3 5 3Other 3 2 3 2 3 2 3 2Information is fictional

Exhibit 5: Non-Disposable Razor Unit and Dollar Market Share by Brand: 2007 - 2010E

2007 2008 2009 2010EBrand Vol (%) $ (%) Vol (%) $ (%) Vol (%) $ (%) Vol (%)PARAMOUNT

Paramount Pro 12.0 12.6 13.7 15.2 16.9 18.5 17.3Paramount Avail 8.5 6.6 8.1 6.2 6.4 4.9 4.9

TOTAL 20.5 19.2 21.8 21.4 23.3 23.4 22.2

PRINCECogent 24.0 31.7 24.5 32.6 22.1 29.4 16.1Cogent Plus 0.0 0.0 0.0 0.0 1.0 1.3 3.7

TOTAL 24.0 31.7 24.5 32.6 23.1 30.7 19.8

BENET & KLEINVitric 18.1 20.5 18.2 20.0 17.8 20.0 15.2Vitric Advanced 2.5 2.7 1.6 1.9 0.7 1.1 0.2Vitric Master 0.0 0.0 0.0 0.0 0.7 0.9 4.0

TOTAL 20.6 23.2 19.8 21.9 19.2 22.0 19.4

RADIANCENaiv 0.0 0.0 0.0 0.0 0.0 0.0 2.0

TOTAL 0.0 0.0 0.0 0.0 0.0 0.0 2.0

SIMPSONSTempest 0.0 0.0 0.0 0.0 0.9 1.1 4.6

TOTAL 0.0 0.0 0.0 0.0 0.9 1.1 4.6

Other 34.9 25.9 33.9 24.1 33.5 22.8 32.0

2010EAverage Volume(%) Average $ (%)$ (%)

18.5 15.0 16.22.9 7.0 5.2

21.4 22.0 21.3

21.3 21.7 28.74.9 1.2 1.6

26.2 22.9 30.3

15.8 17.3 19.10.1 1.3 1.55.2 1.2 1.5

21.1 19.8 22.1

2.6 0.5 0.72.6 0.5 0.7

5.7 1.4 1.75.7 1.4 1.7

23.0 33.6 24.0

RazorSuper-Premium

Cogent Plus $ 12.50 $ 10.00 Cogent $ 11.19 $ 8.89 Naiv* $ 11.80 $ 9.45 Vitric Advanced $ 11.20 $ 8.99 Vitric Master $ 10.85 $ 8.65 Tempest $ 10.99 $ 8.75

ModerateParamount Pro $ 9.50 $ 7.55 Vitric $ 8.89 $ 7.00

ValueParamount Avail $ 5.75 $ 4.60

*Projected price at launch

Exhibit 6: Select Non-disposable Razor Brand Prices1: 2009 Suggested Retail Price

Standard Refill Cartridges

(Average 4-count)

1Table includes only key brands in the market. Prices are representative of most popular SKU in the brand category. Prices for other SKUs will vary.

Table includes only key brands in the market. Prices are representative of most popular SKU in the brand category. Prices for other SKUs will vary.

Exhibit 7: Financial Forecasts: Alternative Positioning Scenarios for Clean Edge

Niche Positioning

Planned capacity Razor unit volume (millions of units)Year 1 1.0Year 2 1.5

Planned capacity Cartridge* unit volume (millions of units)Year 1 4.0Year 2 10.0

Capacity costs ($ in Millions)Year 1 $ 0.61 Year 2 $ 0.87

Razor: Production per unit cost $ 5.00 Razor: Manufacturer price $ 9.09 Razor: Suggested price $ 12.99 Cartridge*: Average Production unit cost $ 2.43 Cartridge*: Average Manufacturer price $ 7.35 Cartridge*: Average Suggested price $ 10.50

Advertising ($ in Millions)Year 1 $ 7 Year 2 $ 7

Consumer promotions ($ in Millions)Year 1 $ 6 Year 2 $ 6

Trade promotions ($ in Millions)Year 1 $ 2 Year 2 $ 3

*Cartridge unit assumes average 4-count refill package

3.34.09.9

21.9 $ 1.71 $ 2.45 $ 4.74 $ 7.83 $ 11.19 $ 2.24 $ 6.22 $ 8.89

$ 19 $ 17 $ 17 $ 14 $ 6 $ 8

Mainstream Positioning

Paramount Revenue Calculator

Scenario 1 : Mainstream PositioningParameter Description Razor Cartridges

Planned Capacity volume (in million Units) 7.3 31.8Capacity Costs (in million dollars) 4.16 4.16Production per unit cost 4.74 2.24Manufacturer Price 7.83 6.22Suggested Price 11.19 8.89

Sales on Manufacturing Price 57.159 197.796Sales on Suggested Price 81.687 282.702Total Cost of Production (in million dollars) 34.602 71.232

Revenue Suggested PriceTotal Sales 364.389

Expensetotal Cost of Production 105.834Advertising Expense 36Promotion Expense 31Trade Promotions 14Total Expense 186.834

Net Income 177.555Profit Margin 48.73

Scenario 1 : Mainstream Positioning Scenario 2: Niche PositioningCartridges Razor cartridges

31.8 2.5 144.16 1.48 1.482.24 5 2.436.22 9.09 7.358.89 12.99 10.5

197.796 22.725 102.9282.702 32.475 14771.232 12.5 34.02

Manufacturer Price Suggested Price Manufacturer Price254.955 179.475 125.625

Expense105.834 46.52 46.52

36 14 1431 12 1214 5 5

186.834 77.52 77.52

68.121 101.955 48.10526.72 56.81 38.29

Parameter DescriptionScenario 1-Niche Positioning Year1

Razor and CartridgesPlanned Capacity volume (in million Units - Razor and Catridges 5Capacity Costs (in million dollars) 0.61

RazorPlanned Capacity of Volume (in million units) 1Manufacturer Price for Razor 9.09Sales on Manufacturer Price 9.09Production per Unit Cost 5Total Cost of Production 5

CartridgesPlanned Capacity of Volume 4Manufacturer Price 7.35Sales on Manufacturer Price 29.4Production per Unit Cost 2.43Total Cost of Production 9.72

Total Cost for Production for Razor and Catridges 14.72Total Sales for Razor and Cartridges 38.49

Parameter DescriptionScenario-1 Niche positioningyear 1

RevenueTotal Sales 38.49

Expensestotal Cost of Production 14.72Advertising Expense 7Promotion Expense 6Trade Promotions 2Total Expenses 29.72

Net Income (Before Cannibalization) 8.77Profit margin (Before Cannibalization) 22.79Net Income (After Cannibalization) 4.234Profit Margin (After Cannibalization) 11.0002598077423Total Niche/Mainstream Net IncomeTotal Niche/Mainstream Profit Margin

Scenario 1-Niche Positioning Scenario 2 -Mainstream PositioningYear 2 Year 1 Year 2

Razor and Cartridges11.5 13.2 25.90.87 1.71 2.45

Razor1.5 3.3 4

9.09 7.83 7.8313.635 25.839 31.32

5 4.74 4.747.5 15.642 18.96

Cartridges10 9.9 21.9

7.35 6.22 6.2273.5 61.578 136.2182.43 2.24 2.2424.3 22.176 49.056

31.8 37.818 68.01687.135 87.417 167.538

Scenario-1 Niche positioning Scenario-2 Mainstream Positioningyear 2 year 1 year 2

87.135 87.417 167.538

31.8 37.818 68.0167 19 176 17 143 6 8

47.8 79.818 107.016

39.335 7.59899999999999 60.52245.14 8.69 36.12

28.611 -12.5178 36.59632.8352556378034 -14.3196403445554 21.8434026907

32.845 24.078243.8355154455457 7.52376234618