The Shuman Law Firm Announces Investigation on Behalf of Bare Escentuals, Inc. Shareholders

The Shuman Law Firm today announced that it is investigating potential breaches of fiduciary duty and other violations of state law on behalf of shareholders of Bare Escentuals, Inc. ("Bare Escentuals" or the “Company”) (NASDAQ: BARE) in connection with the Company’s proposed merger with Shiseido Co., Ltd. ("Shiseido"), a Japan-based global cosmetics company, through an all-cash tender offer and second-step merger.

Under the terms of the merger agreement, Bare Escentuals' shareholders will receive $18.20 per share in cash for each share of Bare Escentuals they own. Upon completion of the tender offer, Shiseido intends to acquire the remaining outstanding shares of Bare Escentuals' common stock for $18.20 per share through a second-step merger. The tender offer is scheduled to commence within 10 business days and is expected to close during the first quarter of 2010.

The investigation concerns whether Bare Escentuals' Board of Directors undertook a fair process to obtain a fair price for all shareholders of Bare Escentuals. In addition, the investigation is seeking to determine whether management may be benefiting unlawfully at the expense of Bare Escentuals' public shareholders because key management, including its chief executive and financial officers, will remain at the company following the merger.

If you are interested in discussing your rights as a Bare Escentuals shareholder, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at [phone] or email Mr. Shuman at [e-mail] or Mr. Glenn at [e-mail].

The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions.