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Castanea Partners Announces Investment in Urban Decay

Newton, MA – March 30, 2009 - Castanea Partners today announced that it has completed the acquisition of Urban Decay Cosmetics, LLC from The Falic Group. Headquartered in Newport Beach, CA, Urban Decay is a leading premium color cosmetic brand known for its alternative spin on beauty, imaginative, high-quality products, and unique artistic style.

Founded in 1996, Urban Decay immediately established itself as a trend-setting cosmetic company that revolutionized the way make-up companies name, package and market their products. The brand, known for its innovative, bold packaging and colors, always stays true to its “Beauty with an Edge” mantra. Urban Decay appeals to all ages and its broad base of loyal customers is diverse, ranging from trendsetters to mainstream cosmetic consumers.

Urban Decay markets its products primarily through domestic and international specialty beauty retailers, including Sephora and Ulta Beauty, better department stores, and through its website (www.urbandecay.com). The company has over 300 color cosmetic SKUs in all major cosmetics categories with its largest category in eye products.

Castanea will support the Company as it continues to strengthen the distinctive Urban Decay brand, broaden its existing product line and expand into new markets. Considered among the best teams in the industry, Tim Warner, Wende Zomnir, and Eric Jimenez will continue in their current roles as General Manager, Co-Founder and Executive Creative Director, and Worldwide Retail Director and International Make-up Artist, respectively.

“Urban Decay is a great example of the types of entrepreneurial, growth-oriented businesses we seek to invest in at Castanea Partners,” said Brian Knez, Co-Managing Partner of Castanea Partners. “We are very excited to partner with Tim, Wende, Eric and the rest of the Urban Decay team and look forward to working with them to help realize the brands full growth potential.”

“Castanea brings a wealth of brand knowledge and operating expertise which made them our preferred choice in selecting a partner,” said Tim Warner.

Added Wende Zomnir, “As we continue to grow and add new channels of distribution, Castanea will help us build the infrastructure to meet that demand and realize exciting growth opportunities.”

“Our customers love to have fun with their make-up, demand high quality, and appreciate the edgy nature of the brand. Castanea will help us support our wholesale customers and our growth at the retail level,” said Eric Jimenez.

Urban Decay was advised by Piper Jaffray & Co. Terms of the transaction were not disclosed.

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