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                                SUPERCUTS, INC.
          PROXY FOR SPECIAL MEETING OF STOCKHOLDERS, OCTOBER 23, 1996
 
    The undersigned hereby appoint Thomas L. Gregory or Lawrence D. Imber as
proxy for the undersigned, with full power of substitution, to represent the
undersigned and to vote all of the shares of the common stock of Supercuts, Inc.
("Supercuts") which the undersigned is entitled to vote at the special meeting
of stockholders of Supercuts to be held on October 23, 1996, and at any and all
adjournments thereof.
 
1.  Approve and adopt the Agreement and Plan of Merger, dated as of July 14,
    1996, as amended (the "Merger Agreement"), by and among Regis corporation
    ("Regis"), RGIS Merger Corp. ("RGIS") and Supercuts whereby Supercuts will
    merge with and into RGIS and become a wholly-owned subsidiary of Regis.
 
            / /  FOR            / /  AGAINST            / /  ABSTAIN
 
    THE BOARD OF DIRECTORS OF SUPERCUTS UNANIMOUSLY RECOMMENDS A VOTE FOR THIS
    PROPOSAL.
 
2.  Approve, in the discretion of the persons named above, any other matters
    that may properly come before the Supercuts Special Meeting.
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    THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS and will be
voted as directed herein. If this proxy is returned and no direction is given,
this proxy will be voted FOR the proposal in paragraph 1.
 
                                                   Dated _________________, 1996
 
                                                   _____________________________
                                                     Signature of Stockholder
