Ulta Salon, Cosmetics & Fragrance Inc.

Romeoville, Ill. • 630-226-0020 • www.ulta.com

Exchange and Ticker: Nasdaq: ULTA

Filing Range: 7.67M shares @ $14.00 to $16.00

Offering Price: $18.00

Close on First Day: $29.82

Offering Size: $153.70M

Shares Outstanding: 56,673,125

Underwriters: JP Morgan/ Wachovia Securities Inc.

Co-managers: Thomas Weisel Partners LLC/ Cowen/ Piper Jaffray Cos.

Company Counsel: Latham & Watkins

Manager Counsel: Winston & Strawn

Auditor: Ernst & Young LLP

Market Capitalization on 10/31/07: $1938.22M

Close price at current month end: $34.20

COMPANY DESCRIPTION

Operates woman’s beauty shops specializing cosmetics, fragrances, skin and hair care products and accessories. The company also offers hair salon services, as well as manicures, pedicures, massages and other beauty treatments. Ulta’s products are also available for purchase online. Competitors include the Body Shop, Dillard’s, Elizabeth Arden, Este Lauder, Helen of Troy, Intimate Brands, L’Oral USA, LVMH, Regis, Sephora and Walgreen.

VENTURE BACKERS

Annapolis Ventures, BCI Partners, Bessemer Venture Partners, Chicago Growth Partners, DLJ Merchant Banking Partners, GRP Partners, INVESCO Private Capital, Oak Investment Partners, Phillips-Smith Specialty Retail Group, Scale Venture Partners (fka Bank of America Ventures), Security Pacific Capital Corp./First SBIC of California, Sprout Group

Source: Thomson Financial