Ingrid Jackel, CEO of Physicians Formula Holdings, Inc.,
Rings The NASDAQ Stock Market Opening Bell

Monday, November 28, 2006
at NASDAQ's MarketSite
in New York City.

Physicians Formula Holdings, Inc.

Ingrid Jackel, CEO of Physicians Formula Holdings, Inc. presides over the opening bell.

Physicians Formula, founded in 1937, is one of the fastest growing cosmetics companies operating in the mass market prestige, or "masstige", market. Under its Physicians Formula brand name, the Company develops and markets innovative, premium priced products for the mass market channel. The Company's products have broad consumer appeal. 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 23,000 stores throughout the U.S. including Wal-Mart, Target, CVS, Walgreens and Albertsons. The Company's products address specific, everyday cosmetics needs and include face powders, bronzers, concealers, blushes, foundations, eye shadows, eye liners, brow makeup and mascaras. The Company has a loyal and rapidly growing consumer base, and the Physicians Formula brand has one of the highest perceived quality images in the masstige market.

Click for larger pictures of the NASDAQ MarketSite. Additional Photographs for 11/27/2006 Download Hi-Res Quality Photo of this NASDAQ Market Open - Pictured: Ingrid Jackel, CEO of Physicians Formula Holdings, Inc. pushes the button signifying the start of the trading day. These photos are Copyright 2006, The Nasdaq Stock Market Inc. and available for re-publication by the news media only. Any commercial use is strictly prohibited without the prior written consent of The Nasdaq Stock Market Inc. © Copyright 2006, The NASDAQ Stock Market, Inc. Reprinted with the permission of The Nasdaq Stock Market, Inc.