Exhibit 99

	CONTACT:
	Investors:	REGIS CORPORATION: Paul D. Finkelstein — President, CEO Randy L. Pearce — Executive Vice President, CFO Kyle P. Didier — Vice President, Finance (952) 947-7000
For Immediate Release
	Media:	BERNS COMMUNICATIONS GROUP: Melissa Jaffin/Michael McMullan (212) 994-4660

REGIS CORPORATION REPORTS RECORD FOURTH QUARTER & YEAR END RESULTS
-Fiscal Year 2003 Earnings per Diluted Share Increased 17.8 Percent-
-Company Raises Fiscal Year 2004 EPS Guidance to $2.10-$2.13-

     MINNEAPOLIS, August 26, 2003 — Regis Corporation (NYSE:RGS), the global leader in the $135 billion hair care industry, today reported record financial results for its fiscal fourth quarter and year ended June 30, 2003.

Fourth Quarter Results

• Consolidated revenues for the fourth quarter increased 16.6 percent to a record $448 million, compared to $384 million during the fourth quarter last year.

• Earnings increased 11.1 percent to $0.50 per diluted share, compared to $0.45 per diluted share for the same period a year ago.

• The Company constructed 98 salons and added another 43 franchised stores. In addition, 290 salons were acquired, including 196 franchised salons.

Fiscal Year 2003 Results

• System-wide sales, inclusive of non-consolidated sales generated from franchisees, increased 23 percent to $2.8 billion versus $2.3 billion a year ago.

• Consolidated revenues increased 15.8 percent to a record $1.7 billion, compared to $1.5 billion last year.

• Earnings increased 17.8 percent to a record $1.92 per diluted share, compared to $1.63 per diluted share for the same period a year ago.

• The Company constructed 397 salons and added another 275 franchised stores. In addition, 758 salons were acquired, including 198 franchised salons.

• As of June 30, 2003, Regis Corporation owned, operated or franchised 9,617 salons compared to 8,684 salons as of June 30, 2002, a system-wide net increase of 933 salons.

     “Fiscal year 2003 was another year of record performance. The flexible nature of our growth strategy allowed us to exceed our long-term top and bottom line objectives,” commented Paul D. Finkelstein, President and Chief Executive Officer. “While attaining these results, our strong cash flow enabled us to reduce our debt-to-capitalization ratio by 530 basis points to 34.9 percent. Our balance sheet flexibility positions us to take advantage of opportunistic acquisitions as they become available.”

     Mr. Finkelstein further commented, “We remain confident that we will again achieve our long-term growth objectives in fiscal 2004 through a combination of organic and acquisition growth. We are again increasing our earnings expectations for fiscal year 2004, primarily the result of our most recent acquisitions. We completed 6 transactions adding 98 salons and $24.6 million of revenue. Including the acquisition of 286 salons from Opal Concepts, which was closed late in fourth quarter fiscal 2003, we have added 384 salons, including 196 franchised salons, as part of our fiscal year 2004 acquisition strategy.”

First Quarter 2004 Outlook

The following points pertain to the fiscal first quarter ending September 30,
2003:

• Consolidated revenue is forecasted to grow 15 to 16 percent to a range of $459 to $463 million, compared to $399 million for the year ago period.

• Consolidated same-store sales are projected to increase 1.0 to 1.5 percent. Quarter-to-date fiscal 2004 first quarter same-store sales have exceeded plan.

• Earnings per diluted share are expected to increase to a range of $0.50 to $0.52, compared to $0.44 for the same period a year ago, an increase of 14 to 18 percent.

Fiscal Year 2004 Outlook

The following points pertain to the fiscal year ending June 30, 2004:

• Exclusive of future acquisitions, consolidated revenue is forecasted to grow to $1.86 to $1.88 billion, an increase of 11 to 12 percent. Consolidated same-store sales are projected to increase 1.0 to 1.5 percent.

• Exclusive of future acquisitions, earnings are expected to increase 9 to 11 percent to a range of $2.10 to $2.13 per diluted share.

     For our comprehensive fiscal year 2004 outlook, please refer to the Investor Information section of our website at http://www.regiscorp.com/

     Regis Corporation will broadcast its conference call live over the internet on Tuesday, August 26, 2003 at 11:00AM Eastern Time. Interested parties are invited to listen by logging on to http://www.regiscorp.com/. An archive of the conference call will be available at this website shortly after the conclusion of the live broadcast.

     The Company will release its August revenue results, including same-store sales, on September 8, 2003, before the market opens.

     Regis Corporation, a Fortune 1000 company, is the largest owner, operator and franchisor of hair and retail product salons in the world. As of June 30, 2003, the Company operated and franchised 9,617 salons utilizing key brands such as; Supercuts, Jean Louis David, Vidal Sassoon, Regis Salons, MasterCuts, Trade

Secret, SmartStyle and Cost Cutters. These salons are located in the United States, Canada, France, Italy, United Kingdom, Spain, Germany, Belgium, Switzerland, Poland, and Puerto Rico.

     Headquartered in Minneapolis, Minnesota, Regis Corporation has over 49,000 employees worldwide. The Company’s common stock is traded on the NYSE under the symbol RGS. For more information about the Company, visit our website at http://www.regiscorp.com/.

     This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements concerning anticipated future events and expectations that are not historical facts. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward—looking statements in this document reflect management’s best judgment at the time they are made, but all such statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed in or implied by the statements herein. Such forward-looking statements are often identified herein by use of words including, but not limited to, “may,” “believe,” “project,” “expect,” “estimate,” “anticipate,” and “plan.” In addition, the following factors could affect the Company’s actual results and cause such results to differ materially from those expressed in forward-looking statements. These factors include competition within the personal hair care industry, which remains strong, both domestically and internationally, and price sensitivity; changes in economic condition; changes in consumer tastes and fashion trends; labor and benefit costs; legal claims; risk inherent to international development (including currency fluctuations); the continued ability of the Company and its franchisees to obtain suitable locations and financing for new salon development; governmental initiatives such as minimum wage rates, taxes and possible franchise legislation; the ability of the Company to successfully identify and acquire salons that support its growth objectives; or other factors not listed above. The ability of the Company to meet its expected revenue growth is dependent on salon acquisitions, new salon construction and same-store sales increases, all of which are affected by many of the aforementioned risks. Additional information concerning potential factors that could affect future financial results is set forth in Exhibit 99 to the Company’s Annual Report on Form 10-K for the year ended June 30, 2002 and included in Form S-3 Registration Statement filed with the Securities and Exchange Commission on January 31, 2003.

(TABLES TO FOLLOW)

REGIS CORPORATION (NYSE:RGS)
Divisional Salon Counts and Revenues

			June 30, 2003			June 30, 2002
SYSTEM -WIDE SALONS:
Company-owned Salons				5,563			4,776
Franchised Salons				4,054			3,908
		Total Salons		9,617			8,684
SALON LOCATION SUMMARY
DOMESTIC:
REGIS SALONS
	Open at beginning of period			1,016			981
	Constructed			53			61
	Acquired			73			17
	Relocations and conversions			(14	)		(18	)
	Closed or sold			(32	)		(25	)
	Net salon openings			80			35
	Open at end of period			1,096			1,016
MASTERCUTS
	Open at beginning of period			551			523
	Constructed			47			42
	Acquired						1
	Relocations and conversions			(4	)		(1	)
	Closed or sold			(4	)		(14	)
	Net salon openings			39			28
	Open at end of period			590			551
TRADE SECRET
Company-owned Salons:
	Open at beginning of period			490			478
	Constructed			34			34
	Acquired			10			1
	Relocations and conversions			(4	)		(12	)
	Closed or sold			(13	)		(11	)
	Net salon openings			27			12
	Open at end of period			517			490
Franchised Salons:
	Open at beginning of period			26			25
	Constructed						1
	Closed or sold			(1	)
	Net salon openings			(1	)		1
	Open at end of period			25			26

		June 30, 2003			June 30, 2002
SMARTSTYLE/COST CUTTERS IN WAL-MART
Company-owned Salons:
	Open at beginning of period		861			722
	Constructed		168			125
	Acquired		14			17
	Relocations and conversions		(5	)		(1	)
	Closed or sold		(5	)		(2	)
	Net salon openings		172			139
	Open at end of period		1,033			861
Franchised Salons:
	Open at beginning of period		210			194
	Constructed		33			37
	Relocations and conversions (1)		(12	)		(17	)
	Closed or sold		(1	)		(4	)
	Net salon openings		20			16
	Open at end of period		230			210
STRIP CENTERS
Company-owned Salons:
	Open at beginning of period		1,476			1,383
	Constructed		85			69
	Acquired		446			76
	Relocations and conversions		(16	)		(6	)
	Closed or sold		(63	)		(46	)
	Net salon openings		452			93
	Open at end of period		1,928			1,476
Franchised Salons:
	Open at beginning of period		1,988			2,011
	Constructed		147			150
	Acquired (3)		198
	Relocations and conversions (1)		(82	)		(90	)
	Closed or sold		(79	)		(83	)
	Net salon openings		184			(23	)
	Open at end of period		2,172			1,988

		June 30, 2003			June 30, 2002
INTERNATIONAL (2):
Company-owned Salons:
	Open at beginning of period		382			364
	Constructed		10			18
	Acquired		17			16
	Closed or sold		(10	)		(16	)
	Net salon openings		17			18
	Open at end of period		399			382
Franchised Salons:
	Open at beginning of period		1,684
	Constructed		95			69
	Acquired (3)					1,664
	Closed or sold		(152	)		(49	)
	Net salon openings		(57	)		1,684
	Open at end of period		1,627			1,684
Grand total, system-wide			9,617			8,684

(1)	Represents primarily the conversion of franchise operations to company-owned.
(2)	Canadian and Puerto Rican salons are included in the Regis Salons, Strip Center, MasterCuts and Trade Secret divisions and not included in the International salon totals.
(3)	Represents primarily the acquisition of franchise networks.

Relocations represent a transfer of location by the same salon concept.

Conversions represent the transfer of one salon concept to another concept.

		Three Months Ended				Year Ended
		June 30,				June 30,
		2003		2002		2003		2002
		(Dollars in thousands)
Divisional Revenues:
	Regis Salons	$	116,524	$	105,057	$	437,449	$	416,240
	MasterCuts		42,450		40,750		170,288		164,768
	Trade Secret		53,485		47,064		209,671		192,892
	SmartStyle		61,712		49,206		227,527		178,728
	Strip Center (primarily Supercuts/Cost Cutters)		123,056		100,139		468,121		382,483
	International		51,006		42,195		171,474		119,080
		$	448,233	$	384,411	$	1,684,530	$	1,454,191

Included in the table above are franchise revenues of $24,563 and $24,190 for the three months ended June 30, 2003 and 2002, respectively, and $101,915 and $77,579 for the years ended June 30, 2003 and 2002, respectively.

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REGIS CORPORATION (NYSE:RGS)
Consolidated Balance Sheet
as of June 30, 2003 and 2002
(Dollars in thousands, except par value)

					June 30,
					2003		2002
ASSETS
Current assets:
	Cash				$	59,680	$	87,103
	Receivables, net					31,947		26,901
	Inventories					156,827		120,259
	Deferred income taxes					18,469		9,843
	Other current assets					12,737		12,580
		Total current assets				279,660		256,686
Property and equipment, net						356,725		318,482
Goodwill						372,618		304,529
Other intangibles, net						64,498		54,907
Other assets						39,454		22,586
			Total assets		$	1,112,955	$	957,190
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
	Long-term debt, current portion				$	21,123	$	7,221
	Accounts payable					56,175		54,545
	Accrued expenses					121,767		97,523
		Total current liabilities				199,065		159,289
Long-term debt						280,634		291,795
Other noncurrent liabilities						70,452		61,441
Shareholders’ equity:
	Common stock, $.05 par value; issued and outstanding, 43,527,244 and 43,040,381 common shares at June 30, 2003 and 2002, respectively					2,176		2,152
	Additional paid-in capital					207,650		194,859
	Accumulated other comprehensive income					27,789		3,938
	Retained earnings					325,189		243,716
		Total shareholders’ equity				562,804		444,665
				Total liabilities and shareholders’ equity	$	1,112,955	$	957,190

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REGIS CORPORATION (NYSE:RGS)
Consolidated Statement of Operations
(Dollars in thousands, except per share amounts)

					(Unaudited)
					Three Months Ended						Year Ended
					June 30,						June 30,
					2003			2002			2003			2002
Revenues:
	Company-owned salons:
		Service			$	302,026		$	256,745		$	1,117,562		$	963,884
		Product				121,644			103,476			465,053			412,728
						423,670			360,221			1,582,615			1,376,612
	Franchise revenues:
		Royalties and fees				16,108			15,797			67,682			50,745
		Product sales				8,455			8,393			34,233			26,834
						24,563			24,190			101,915			77,579
						448,233			384,411			1,684,530			1,454,191
Operating expenses:
	Company-owned salons:
		Cost of service				170,538			143,446			629,945			546,027
		Cost of product				61,694			52,652			232,596			216,373
		Direct salon				36,677			31,942			142,173			123,915
		Rent				63,801			53,420			233,821			197,269
		Depreciation				15,239			13,094			54,894			48,269
						347,949			294,554			1,293,429			1,131,853
	Franchise direct costs, including product and equipment					13,433			12,998			57,050			38,114
	Corporate and franchise support costs					43,246			35,588			163,256			139,654
	Depreciation and amortization					2,864			3,010			11,855			10,706
			Total operating expenses			407,492			346,150			1,525,590			1,320,327
			Operating income			40,741			38,261			158,940			133,864
Other income (expense):
	Interest					(5,690	)		(5,040	)		(21,394	)		(19,010	)
	Other, net					208			334			1,055			796
			Income before income taxes			35,259			33,555			138,601			115,650
Income taxes:
	Provision					(12,765	)		(13,158	)		(51,926	)		(45,346	)
	Nonrecurring income tax benefit														1,750
						(12,765	)		(13,158	)		(51,926	)		(43,596	)
				Net income	$	22,494		$	20,397		$	86,675		$	72,054
Net income per share:
			Basic		$	.52		$	.47		$	2.00		$	1.70
			Diluted		$	.50		$	.45		$	1.92		$	1.63
Weighted average common and common equivalent shares outstanding:
			Basic			43,353			43,094			43,292			42,283
			Diluted			45,203			45,233			45,229			44,172

REGIS CORPORATION
CONSOLIDATED STATEMENT OF CASH FLOWS
for the years ended June 30, 2003 and 2002
(Dollars in thousands)

				2003			2002
Cash flows from operating activities:
	Net income			$	86,675		$	72,054
	Adjustments to reconcile net income to net cash provided by operating activities:
		Depreciation			63,767			56,821
		Amortization			3,632			2,911
		Deferred income taxes			2,241			11,890
		Other			710			739
		Changes in operating assets and liabilities*:
			Receivables		8			(575	)
			Inventories		(31,145	)		(7,759	)
			Other current assets		624			(2,761	)
			Other assets		(13,606	)		(2,460	)
			Accounts payable		1,363			7,354
			Accrued expenses		25,410			13,070
			Other noncurrent liabilities		9,944			755
		Net cash provided by operating activities			149,623			152,039
Cash flows from investing activities:
	Capital expenditures				(77,460	)		(66,232	)
	Proceeds from sale of assets				1,273			873
	Business and salon acquisitions, net of cash acquired				(66,880	)		(59,925	)
		Net cash used in investing activities			(143,067	)		(125,284	)
Cash flows from financing activities:
	Borrowings on revolving credit facilities				854,195			250,800
	Payments on revolving credit facilities				(886,420	)		(336,300	)
	Proceeds from issuance of long-term debt				30,000			125,000
	Repayments of long-term debt				(11,471	)		(5,212	)
	Other, primarily (decrease) increase in negative book cash balances				(2,720	)		4,937
	Dividends paid				(5,202	)		(5,078	)
	Repurchase of common stock				(21,694	)		(7,743	)
	Proceeds from issuance of common stock				7,051			7,750
		Net cash (used in) provided by financing activities			(36,261	)		34,154
Effect of exchange rate changes on cash					2,282			1,536
(Decrease) increase in cash					(27,423	)		62,445
Cash:
	Beginning of year				87,103			24,658
	End of year			$	59,680		$	87,103

*     Changes in operating assets and liabilities do not reflect assets and liabilities assumed through acquisitions.

END