Wet Seal : IRVINE

Nature of business: Youth-oriented women’s clothing chain Total employees: 2,000 In Orange County: 500 Stock listing in The Times: On NASDAQ “WetSeal” Ticker symbol: “WTSLA” Friday’s stock close: $6.88 One-week change: UP $0.38 Analyst review: “Wet Seal was a growth company, but the soft California economy has slowed it down. However, it has a good chance of performing well in the long term. Management has taken steps to become more cost-effective. They have scaled back their expansion plans and are seeking other sources of revenue beyond what worked well in the past. When the economy rebounds, they will be in a good position financially to surge ahead. They have a solid cash position and no long-term debt. Plus, they have a good concept. They have a proven ability to remain on the mark in a very fashion-forward, volatile retail market. They have potential, especially for patient, long-term investors.” --David Rose, analyst, L. H. Friend, Weinress & Frankson, Irvine Revenue Dollar amounts in billions

1989 1990 1991 1992 1993 $45.0 $78.7 $107.4 $119.9 $149.7

Profit Dollar amounts in millions

1989 1990 1991 1992 1993 $1.9 $5.9 $7.2 $4.2 $3.6

Corporate outlook: “Out-of-state expansion allowed us to benefit from economic activity in other parts of the country and minimize the impact of the slow local economy. We have a large cash reserve, but still run the company as though we didn’t. We have no long-term debt and plan to keep it that way.” --Alan A. Weinstein, CFO RETURN ON INVESTMENT: 5-YEAR SUMMARY

Fiscal year ending Jan. 28 Feb. 3 Feb. 2 Feb. 1 Jan. 30 1989 1990 1991 1992 1993 52-week high* N/A N/A $19.00 $18.00 $14.00 52-week low* N/A N/A $6.50 $6.75 $5.75 Book value per share $0.43 $1.03 $4.18 $4.16 $4.21 Price per share* N/A N/A $11.00 $11.75 $7.00 Net earnings (loss) per share $0.19 $0.62 $0.65 $0.35 $0.29 Price-to-earnings ratio N/A N/A 17:1 34:1 24:1 Avg. return on investor equity 46% 60% 16% 8% 7%

*Wet Seal sold 2.9 million shares in its initial public offering July 3, 1990; net proceeds: $37.3 million. For more information call or write, Wet Seal Inc.: 64 Fairbanks, Irvine, Calif. 92718 (714) 583-9029 Source: Wet Seal Inc.; Bloomberg Business News