Physicians Formula Holdings, Inc. Prices Secondary Offering of Common Stock by Certain Selling Stockholders

AZUSA, Calif., April 19 /PRNewswire-FirstCall/ -- Physicians Formula Holdings, Inc. (NASDAQ: FACE) ("Physicians Formula" or the "Company") announced today the pricing of the secondary offering of 4,391,000 shares of its common stock at a price to the public of $20.75 per share. All of the shares are being sold by certain selling stockholders of the Company. The selling stockholders include entities affiliated with Summit Partners, Cosmetics International Investments S.A. and certain other selling stockholders. The selling stockholders have granted the underwriters a 30-day option to acquire an additional 658,650 shares at the secondary offering price to cover over-allotments, if any. Physicians Formula will not receive any proceeds from the sale of the shares but will pay the expenses of the offering.

The offering is being made through an underwriting syndicate led by Deutsche Bank Securities and Citi as joint book-runners for the offering. Cowen and Company and Piper Jaffray are acting as co-managers.

A copy of the final prospectus relating to the shares may be obtained from Deutsche Bank Securities Inc., Attn: Prospectus Dept., 100 Plaza One, Jersey City, NJ 07311, by telephone toll free at 1-800-503-4611 or email at prospectusrequest@list.db.com or from Citi, Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York, 11220 (tel: 718-765-6732; fax: 718-765-6734).

A registration statement relating to the securities described above was declared effective by the Securities and Exchange Commission on April 19, 2007. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be a sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Physicians Formula Holdings, Inc.

Physicians Formula is one of the fastest growing cosmetics companies operating in the mass market prestige, or "masstige," market. Under its Physicians Formula brand name, created in 1937, the Company develops, markets and distributes innovative, premium priced products for the mass market channel. Physicians Formula differentiates itself by addressing skin imperfections through a problem-solving approach, rather than focusing on changing fashion trends. Currently, Physicians Formula products are sold in over 26,000 stores throughout the U.S. including stores operated by Wal-Mart, Target, CVS, Walgreens and Albertsons.

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