<PAGE>   1
                                                               Exhibit 10.27

                       FIRST AMENDMENT TO CREDIT AGREEMENT

         THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this "First Amendment"),
dated as of March 30, 1999, is entered into among STYLING TECHNOLOGY
CORPORATION, a Delaware corporation (the "Borrower"), the banks listed on the
signature pages hereof (the "Lenders"), BANKBOSTON, N.A., in its capacity as
documentation agent (in said capacity, the "Documentation Agent"), and
NATIONSBANK, N.A., in its capacity as administrative agent (in said capacity,
the "Administrative Agent").

                                   BACKGROUND

A. The Borrower, the Lenders, the Documentation Agent and the Administrative
Agent are parties to that certain Credit Agreement, dated as of June 30, 1998
(as previously modified, supplemented or amended, the "Credit Agreement"; the
terms defined in the Credit Agreement and not otherwise defined herein shall be
used herein as defined in the Credit Agreement).

B. The Borrower, the Lenders, the Documentation Agent and the Administrative
Agent desire to amend the Credit Agreement to add a $5,000,000 overline facility
thereto.

         NOW, THEREFORE, in consideration of the covenants, conditions and
agreements hereafter set forth, and for other good and valuable consideration,
the receipt and adequacy of which are all hereby acknowledged, the Borrower, the
Lenders, the Documentation Agent and the Administrative Agent covenant and agree
as follows:

1.       AMENDMENTS.

(a) The definition of "Applicable Base Rate Margin" set forth in Section 1.1 of
the Credit Agreement is hereby amended to read as follows:

                           "Applicable Base Rate Margin" means the following per
         annum percentages, applicable in the following situations:





<TABLE>
<CAPTION>
                                                                Revolving Credit
                                                                Advances and Term                    Overline
                    Applicability                                 Loan Advances                      Advances
                    -------------                               -----------------                    --------
<S>                                                             <C>                                  <C>
(a)  Initial Pricing Period                                           0.750%                           1.250%


(b)  Subsequent Pricing Period

     (1) The Leverage Ratio is greater than                           1.000%                           1.250%
         or equal to 4.50 to 1

     (2) The Leverage Ratio is less than                              0.750%                           1.250%
         4.50 to 1 but greater than or equal
         to 4.00 to 1
</TABLE>
<PAGE>   2
<TABLE>
<S>                                                             <C>                                  <C>
     (3) The Leverage Ratio is greater than                           0.500%                           1.250%
         4.00 to 1 but greater than or equal
         to 3.50 to 1

     (4) The Leverage Ratio is less than                              0.250%                           1.250%
         3.50 to 1 but greater than or equal
         to 3.00 to 1

     (5) The Leverage Ratio is less than                              0.000%                           1.250%
         3.00 to 1
</TABLE>

During the Subsequent Pricing Period, the Applicable Base Rate Margin payable by
the Borrower on the Base Rate Advances outstanding hereunder shall be subject to
reduction or increase, as applicable and as set forth in the table above, on a
quarterly basis according to the performance of the Borrower as tested by using
the Leverage Ratio calculated as of the end of each fiscal quarter; provided,
that each adjustment in the Applicable Base Rate Margin shall be effective on
the date which is two Business Days following the date of receipt of the
financial statements required to be delivered pursuant to Section 6.1 or 6.2
hereof, as applicable, and the related Compliance Certificate. If such financial
statements and Compliance Certificate are not received by the Administrative
Agent by the date required, the Applicable Base Rate Margin shall be determined
as if the Leverage Ratio is greater than or equal to 4.50 to 1 until such time
as such financial statements and Compliance Certificate are received.

         (b) The definition of "Applicable LIBOR Rate Margin" set forth in
Section 1.1 of the Credit Agreement is hereby amended to read as follows:

             "Applicable LIBOR Rate Margin" means the following per annum
         percentages, applicable in the following situations:


<TABLE>
<CAPTION>
                                                                Revolving Credit
                                                                Advances and Term                    Overline
                       Applicability                              Loan Advances                      Advances
                       -------------                            -----------------                    --------
<S>                                                             <C>                                  <C>
(a)  Initial Pricing Period                                           2.250%                           3.000%

(b)  Subsequent Pricing Period

     (1) The Leverage Ratio is greater than                           2.500%                           3.000%
         or equal to 4.50 to 1

     (2) The Leverage Ratio is less than                              2.250%                           3.000%
         4.50 to 1 but greater than or equal
         to 4.00 to 1

     (3) The Leverage Ratio is greater than                           2.000%                           3.000%
         4.00 to 1 but greater than or equal
         to 3.50 to 1
</TABLE>


                                       2
<PAGE>   3
<TABLE>
<S>                                                             <C>                                  <C>
     (4) The Leverage Ratio is less than                              1.750%                           3.000%
         3.50 to 1 but greater than or equal
         to 3.00 to 1

     (5) The Leverage Ratio is less than                              1.500%                           3.000%
         3.00 to 1
</TABLE>


During the Subsequent Pricing Period, the Applicable LIBOR Rate Margin payable
by the Borrower on the LIBOR Advances outstanding hereunder shall be subject to
reduction or increase, as applicable and as set forth in the table above, on a
quarterly basis according to the performance of the Borrower as tested by using
the Leverage Ratio calculated as of the end of each fiscal quarter; provided,
that each adjustment in the Applicable LIBOR Rate Margin shall be effective on
the date which is two Business Days following the date of receipt of the
financial statements required to be delivered pursuant to Section 6.1 or 6.2
hereof, as applicable, and the related Compliance Certificate. If such financial
statements and Compliance Certificate are not received by the Administrative
Agent by the date required, the Applicable LIBOR Rate Margin shall be determined
as if the Leverage Ratio is greater than or equal to 4.50 to 1 until such time
as such financial statements and Compliance Certificate are received.

         (c) The definition of "Applicable Specified Percentage" set forth in
Section 1.1 of the Credit Agreement is hereby amended to read as follows:

             "Applicable Specified Percentage" means the Revolving Credit
         Specified Percentage, the Term Loan Specified Percentage, the Overline
         Specified Percentage or the Total Specified Percentage, as applicable
         in the context used.

         (d) The definition of "Commitments" set forth in Section 1.1 of the
Credit Agreement is hereby amended to read as follows:


             "Commitments" means, collectively, the Revolving Credit
         Commitment, the Overline Commitment and the Term Loan Commitment, as
         reduced from time to time in the case of the Revolving Credit
         Commitment and the Overline Commitment pursuant to Section 2.6 hereof.

         (e) The definition of "Determining Lenders" set forth in Section 1.1 of
the Credit Agreement is hereby amended to read as follows:

             "Determining Lenders" means (a) on any date of determination on
         which there are only two Lenders, each of the Lenders, and (b) on any
         date of determination on which there are more than two Lenders, any
         combination of Lenders whose Total Specified Percentages aggregate more
         than 50%; provided, however, in the event that there are more than two
         Lenders and all of the Commitments have been terminated, "Determining
         Lenders" means, on the date of determination, any combination of
         Lenders having more than 50% of the Advances then outstanding.


                                       3
<PAGE>   4
         (f) The definition of "Notes" set forth in Section 1.1 of the Credit
Agreement is hereby amended to read as follows:

             "Notes" means, collectively, the Revolving Credit Notes, the Term
         Loan Notes and the Overline Notes.

         (g) Section 1.1 of the Credit Agreement is hereby amended by adding the
following defined terms thereto in proper alphabetical order:

             "Overline Advance" means an Advance made pursuant to Section 2.1(d)
         hereof.

             "Overline Commitment" means $5,000,000, as reduced pursuant to
         Section 2.6 hereof.

             "Overline Commitment Fee" has the meaning specified in Section
         2.4(c) hereof.

             "Overline Commitment Maturity Date" means the earliest of (i) June
         30, 1999, (ii) the date of an offering of Capital Stock of the Borrower
         after March 31, 1999 or (iii) the date of termination in whole of the
         Overline Commitment pursuant to Section 2.6 or 8.2 hereof.

             "Overline Notes" means the promissory notes of the Borrower
         evidencing Overline Advances hereunder, substantially in the form of
         Exhibit L hereto, together with any extension, renewal, or amendment
         thereof, or substitution therefor.

             "Overline Specified Percentage" means, as to any Lender, the
         percentage obtained by dividing such Lender's portion of the Overline
         Commitment (or the Overline Advances owing to such Lender after the
         Overline Commitment has terminated) by the Overline Commitment (or to
         the aggregate principal amount of Overline Advances after the Overline
         Commitment has terminated), which percentage for each Lender shall be
         set forth on Section 1.1(b) hereto.

         (h) The definition of "Total Specified Percentage" set forth in Section
1.1 of the Credit Agreement is hereby amended to read as follows:

             "Total Specified Percentage" means, as to any Lender, the
         percentage obtained by dividing the sum of such Lender's portion of the
         Revolving Credit Commitment, the Term Loan Commitment and the Overline
         Commitment (or Revolving Credit Advances, Term Loan Advances and
         Overline Advances owing to such Lender after the Revolving Credit
         Commitment, the Term Loan Commitment and the Overline Commitment have
         been terminated) by the sum of the Revolving Credit Commitment, the
         Term Loan Commitment and the Overline Commitment (or to the sum of the
         aggregate principal amount of the Revolving Credit Advances, the Term
         Loan Advances and the Overline Advances if the Revolving Credit
         Commitment, the Term Loan Commitment and the Overline Commitment have
         been terminated).


                                       4
<PAGE>   5
         (i) Section 2.1 of the Credit Agreement is hereby amended by adding a
subsection (d) thereto to read as follows:


             (d) Overline Advances. Each Lender severally agrees, upon the terms
         and conditions of this Agreement, to make Overline Advances to the
         Borrower from time to time up to but not including the Overline
         Commitment Maturity Date in an aggregate not to exceed its Overline
         Specified Percentage of the Overline Commitment, for the purposes set
         forth in Section 5.8(a) hereof. Subject to Section 2.9 hereof and the
         immediately following sentence, Overline Advances may be repaid and
         then reborrowed. Notwithstanding any provision of this Agreement or any
         other Loan Document to the contrary, in no event shall (a) the
         aggregate principal amount of all Overline Advances exceed the Overline
         Commitment, (b) the sum of the principal amount of all outstanding (i)
         Revolving Credit Advances, (ii) Reimbursement Obligations and (iii)
         Overline Advances exceed the lesser of (i) the Revolving Credit
         Commitment plus the Overline Commitment and (ii) the Borrowing Base,
         (c) any Overline Advances be made unless the Unused Portion is zero, or
         (d) any Revolving Credit Advance be repaid at any time that any
         Overline Advance is outstanding (other than in respect of payments
         pursuant to Sections 2.10(d) and 2.12 hereof and any proceeds of
         Collateral, where payments are shared as provided therein and in the
         Collateral Documents).

         (j) Section 2.2(e) of the Credit Agreement is hereby amended by adding
the following sentence thereto at the end thereof.


             All Overline Advances shall be made by each Lender in accordance
         with its Overline Specified Percentage.

         (k) Section 2.3(c) of the Credit Agreement is hereby amended by
adding", the Overline Commitment Maturity Date" to the seventh line thereof
immediately following "Revolving Credit Commitment Maturity Date".

         (l) Section 2.4 of the Credit Agreement is hereby amended by adding a
subsection (c) thereto to read as follows:


             (c) Overline Commitment Fee. Subject to Section 11.9 hereof, the
         Borrower agrees to pay to the Administrative Agent, for the account of
         the Lenders according to their Overline Specified Percentages, a
         commitment fee of 0.50% per annum on the daily average unused portion
         of the Overline Commitment during the period commencing on April 5,
         1999 and ending on the Overline Commitment Maturity Date. Such fee
         shall be (i) payable in arrears on each Quarterly Date and on the
         Overline Commitment Maturity Date, (ii) fully earned when due and,
         subject to Section 11.9 hereof, nonrefundable when paid and (iii)
         subject to Section 11.9 hereof, computed on the basis of a 360-day year
         for the actual number of days elapsed.


                                       5
<PAGE>   6
         (m) Section 2.5(b) of the Credit Agreement is hereby amended to read as
follows:

             (b) Mandatory Prepayment. On or before the date of any reduction of
         (a) the Revolving Credit Commitment and provided the Overline
         Commitment has been terminated, the Borrower shall prepay applicable
         outstanding Revolving Credit Advances in an amount necessary to reduce
         the sum of outstanding Revolving Credit Advances and Reimbursement
         Obligations to an amount less than or equal to the lesser of (i) the
         Revolving Credit Commitment as so reduced and (ii) the Borrowing Base
         and (b) the Overline Commitment, the Borrower shall prepay applicable
         outstanding Overline Advances in an amount necessary to reduce the sum
         of outstanding Overline Advances to an amount less than or equal to the
         Overline Commitment as so reduced. To the extent required by the
         immediately preceding sentence, the Borrower shall first prepay all
         Base Rate Advances and shall thereafter prepay LIBOR Advances. To the
         extent that any prepayment requires that a LIBOR Advance be repaid on a
         date other than the last day of its Interest Period, the Borrower shall
         reimburse each Lender in accordance with Section 2.9 hereof; provided,
         however, the Lenders acknowledge and agree that no other penalties or
         premiums shall be paid in connection with such prepayment. To the
         extent that at any time the aggregate principal amount of Revolving
         Credit Advances, Reimbursement Obligations and Overline Advances
         outstanding hereunder exceed the lesser of (i) the Revolving Credit
         Commitment and the Overline Commitment and (ii) the Borrowing Base, the
         Borrower shall immediately repay Overline Advances first and then
         Revolving Credit Advances in an amount equal to such excess.

         (n) Section 2.6 of the Credit Agreement is hereby amended to read as
follows:

             Section 2.6 Reduction of Revolving Credit Commitment and Overline
         Commitment.

             (a) Voluntary Reduction. Provided that the Overline Commitment has
         been terminated, the Borrower shall have the right, upon not less than
         5 Business Days' notice by an Authorized Signatory to the
         Administrative Agent (if telephonic, to be confirmed by telex or in
         writing on or before the date of reduction or termination), which shall
         promptly notify the Lenders, to terminate or reduce the Revolving
         Credit Commitment. Each partial termination shall be in an aggregate
         amount which is at least $1,000,000 and which is an integral multiple
         thereof, and no voluntary reduction in the Revolving Credit Commitment
         shall cause any LIBOR Advance to be repaid prior to the last day of its
         Interest Period unless the Borrower shall reimburse each Lender in
         accordance with Section 2.9 hereof. The Borrower shall have the right,
         upon not less than 5 Business Days' notice by an Authorized Signatory
         to the Administrative Agent (if telephonic, to be confirmed by telex or
         in writing on or before the date of reduction or termination), which
         shall promptly notify the Lenders, to terminate or reduce the Overline
         Commitment. Each partial termination shall be in an aggregate amount
         which is at least $1,000,000 and which is an integral multiple 

                                       6
<PAGE>   7
         thereof, and no voluntary reduction in the Overline Commitment shall
         cause any  LIBOR Advance to be repaid prior to the last day of its
         Interest Period unless the Borrower shall reimburse each Lender in
         accordance with Section 2.9 hereof.

             (b) Mandatory Reduction. On the Revolving Commitment Maturity Date,
         the Revolving Credit Commitment shall be automatically reduced to zero.
         On the Term Loan Commitment Termination Date, the Term Loan Commitment
         shall be automatically reduced to zero. On the Overline Commitment
         Maturity Date, the Overline Commitment shall be automatically reduced
         to zero.

             (c) General Requirements. Upon any reduction of the Revolving
         Credit Commitment or the Overline Commitment pursuant to this Section,
         the Borrower shall immediately make a repayment of Revolving Credit
         Advances or Overline Advances, as appropriate, in accordance with
         Section 2.5(b) hereof. The Borrower shall reimburse each Lender in
         connection with any such payment in accordance with Section 2.9 hereof
         to the extent applicable. The Borrower shall not have any right to
         rescind any termination or reduction. Once reduced, the Revolving
         Credit Commitment or the Overline Commitment may not be increased or
         reinstated.

         (o) Section 2.8 of the Credit Agreement is hereby amended by adding a
subsection (c) thereto to read as follows:


             (c) Overline Advances. To the extent not otherwise required to be
         paid earlier as provided herein, the principal amount of the Overline
         Advances shall be due and payable on the Overline Commitment Maturity
         Date.

         (p) Section 5.8 of the Credit Agreement is hereby amended to read as
follows:

             Section 5.8 Use of Proceeds. The proceeds (a) of the Revolving
         Credit Advances shall be used by the Borrower to finance the ongoing
         working capital and general corporate requirements of the Borrower and
         its Subsidiaries, including Acquisitions permitted hereunder, (b) the
         Overline Advances shall be used by the Borrower to finance the ongoing
         working capital and general corporate requirements of the Borrower and
         its Subsidiaries, excluding, however, Acquisitions permitted hereunder,
         and (c) of the Term Loan Advances shall be used by the Borrower to
         finance Acquisitions permitted hereunder.

         (q) Section 7.11 of the Credit Agreement is hereby amended to read as
follows:

             Section 7.11 Maximum Leverage Ratio. At the end of each fiscal
         quarter occurring below or at the end of each fiscal quarter occurring
         during the periods indicated below, the Borrower shall not permit the
         Leverage Ratio to be greater than the ratio set forth below opposite
         such fiscal quarter or opposite the period in which such fiscal quarter
         occurs:

<TABLE>
                                              Period of Fiscal Quarter                                    Ratio
                                              ------------------------                                    -----
<S>                                                                                                      <C>
</TABLE>

                                       7
<PAGE>   8
<TABLE>
<S>                                                                                                      <C>
                 From and including the Agreement Date to and including December 31, 1998                4.75 to 1

                 Fiscal quarter ending March 31, 1999                                                    4.85 to 1

                 Fiscal quarter ending June 30, 1999                                                     4.75 to 1

                 From and including July 1, 1999 to but not including December 31, 1999                  4.25 to 1

                 From and including December 31, 1999 to but not including June 30, 2000                 3.75 to 1

                 From and including June 30, 2000 to but not including December 31, 2000                 3.25 to 1

                 From and including December 31, 2000 and thereafter                                     3.00 to 1
</TABLE>

         (r) Section 11.6 of the Credit Agreement is hereby amended by amending
subsection (f) thereof by revising the last sentence thereof to read as follows:

         Such new Notes shall be in an aggregate principal amount of such
         surrendered Notes, shall be dated the effective date of such Assignment
         Agreement and shall otherwise be in substantially the form of Exhibit A
         and/or B and/or L hereto, as applicable.

         (s) Section 11.11 of the Credit Agreement is hereby amended by amending
subclause (a)(vii) thereof to read as follows:


         (vii) amend the definition of "Determining Lenders", "Total Specified
         Percentage", "Revolving Credit Specified Percentage", "Term Loan
         Specified Percentage", or "Overline Specified Percentage",

         (t) Schedule 1.1(b) of the Credit Agreement is hereby amended to be in
the form of Schedule 1.1(b) to this First Amendment.


         (u) Exhibit E to the Credit Agreement is hereby amended to be in the
form of Exhibit E to this First Amendment.

         (v) Exhibit F to the Credit Agreement is hereby amended to be in the
form of Exhibit F to this First Amendment.

         2. REPRESENTATIONS AND WARRANTIES TRUE; NO EVENT OF DEFAULT. By its
execution and delivery hereof, the Borrower represents and warrants that, as of
the date hereof and after giving effect to the amendment contemplated by the
foregoing Section 1:


                                       8
<PAGE>   9
         (a) the representations and warranties contained in the Credit
Agreement are true and correct on and as of the date hereof as made on and as of
such date;

         (b) no event has occurred and is continuing which constitutes a Default
or an Event of Default;

         (c) the Borrower has full corporate power and authority to execute and
deliver this First Amendment, the $2,500,000 Overline Note payable to the order
of NationsBank, N.A. and the $2,500,000 Overline Note payable to the order of
BankBoston, N.A. (collectively, the "Overline Notes"), and this First Amendment,
the Overline Notes and the Credit Agreement, as amended hereby, constitute the
legal, valid and binding obligations of the Borrower, enforceable in accordance
with their respective terms, except as enforceability may be limited by Debtor
Relief Laws and by general principles of equity (regardless of whether
enforcement is sought in a proceeding in equity or at law) and except as rights
to indemnity may be limited by federal or state securities laws;

         (d) neither the execution, delivery and performance of this First
Amendment, the Overline Notes or the Credit Agreement, as amended hereby, nor
the consummation of any transactions contemplated herein or therein, will
conflict with any Law to which the Borrower or any Subsidiary is subject, or any
indenture, agreement or other instrument to which the Borrower or any Subsidiary
or any of their respective property is subject, except for matters which could
not reasonably be expected to have a Material Adverse Effect; and

         (e) no authorization, approval, consent, or other action by, notice to,
or filing with, any governmental authority or other Person (other than the Board
of Directors of the Borrower) is required for the execution, delivery or
performance by the Borrower of this First Amendment or the Overline Notes, or
the acknowledgment of this First Amendment by each Guarantor.

         Notwithstanding the foregoing, Lenders acknowledge that Ft. Pitt
Acquisition, Inc., a Pennsylvania corporation, Ft. Pitt-Framesi, Inc., a
Pennsylvania corporation, Styling Technology Nail Corporation, an Arizona
corporation, and Styl Institute, Inc., an Arizona corporation, may not have been
timely added as guarantors of the obligations of the Borrower under the Credit
Agreement, but that such actions have occurred on or prior to the date of this
Amendment.

         3. CONDITIONS OF EFFECTIVENESS. This First Amendment shall be effective
as of March 30, 1999, subject to the following:

         (a) the Administrative Agent shall have received counterparts of this
First Amendment executed by the Lenders;

         (b) the Administrative Agent shall have received counterparts of this
First Amendment executed by the Borrower and acknowledged by each Guarantor;

         (c) the representations and warranties set forth in Section 2 of this
First Amendment shall be true and correct;

         (d) no Default or Event of Default shall have occurred and be
continuing;


                                       9
<PAGE>   10
         (e) NationsBank, N.A. shall have received its Overline Note, duly
executed by the Borrower;

         (f) BankBoston, N.A. shall have received its Overline Note, duly
executed by the Borrower;

         (g) the Administrative Agent shall have received (i) a certified copy
of a resolution of the Borrower of Directors of the Borrower authorizing the
execution, delivery and performance of this First Amendment and the Overline
Notes and (ii) an opinion of counsel to Borrower with respect to the matters
relating to the Borrower covered in Sections 2(c), (d) and (e) of this First
Amendment, in form and substance satisfactory to the Administrative Agent;

         (h) NationsBank, N.A. and BankBoston, N.A. shall have received a fee
for its agreement to extend the Overline Commitment in an amount agreed upon by
the Borrower, NationsBank, N.A. and BankBoston, N.A.; and

         (i) the Administrative Agent shall have received payment of outstanding
legal fees owed to its counsel.

         4. GUARANTOR ACKNOWLEDGMENT. By signing below, each Guarantor (a)
acknowledges consents and agrees to the execution, delivery and performance by
the Borrower of this First Amendment, (b) acknowledges and agrees that its
obligations in respect of its Subsidiary Guaranty (i) are not released,
diminished, waived, modified, impaired or affected in any manner by this First
Amendment or any of the provisions contemplated herein and (ii) include the
Overline Advances, (c) ratifies and confirms its obligations under its
Subsidiary Guaranty, and (d) acknowledges and agrees that it has no claims or
offsets against, or defenses or counterclaims to, its Subsidiary Guaranty.

         5. REFERENCE TO THE CREDIT AGREEMENT.

         (a) Upon the effectiveness of this First Amendment, each reference in
the Credit Agreement to "this Agreement", "hereunder", or words of like import
shall mean and be a reference to the Credit Agreement, as affected and amended
hereby.

         (b) The Credit Agreement, as amended by the amendment referred to
above, shall remain in full force and effect and is hereby ratified and
confirmed.

         6. COSTS, EXPENSES AND TAXES. The Borrower agrees to pay on demand all
reasonable costs and expenses of the Administrative Agent in connection with the
preparation, reproduction, execution and delivery of this First Amendment and
the other instruments and documents to be delivered hereunder (including the
reasonable fees and out-of-pocket expenses of counsel for the Administrative
Agent with respect thereto and with respect to advising the Administrative Agent
as to its rights and responsibilities under the Credit Agreement, as hereby
amended).

         7. EXECUTION IN COUNTERPARTS. This First Amendment may be executed in
any number of counterparts and by different parties hereto in separate
counterparts,


                                       10
<PAGE>   11
each of which when so executed and delivered shall be deemed to be an original
and all of which when taken together shall constitute but one and the same
instrument.

         8. GOVERNING LAW; BINDING EFFECT. This First Amendment shall be
governed by and construed in accordance with the laws of the State of Texas
(without regard to the principles of conflicts of laws) and the United States of
America, and shall be binding upon the Borrower, the Administrative Agent and
each Lender and their respective successors and assigns.

         9. HEADINGS. Section headings in this First Amendment are included
herein for convenience of reference only and shall not constitute a part of this
First Amendment for any other purpose.

         10. ENTIRE AGREEMENT. THE CREDIT AGREEMENT, AS AMENDED BY THIS FIRST
AMENDMENT, AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN
THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS,
OR SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES.

--------------------------------------------------------------------------------
                   REMAINDER OF PAGE LEFT INTENTIONALLY BLANK
--------------------------------------------------------------------------------


                                       11
<PAGE>   12
         IN WITNESS WHEREOF, the parties hereto have executed this First
Amendment as the date first above written.

                         STYLING TECHNOLOGY CORPORATION

                         By: /S/ Richard R. Ross
                            ------------------------
                         Name: Richard R. Ross
                         Title: Vice President


                                       12
<PAGE>   13
                         NATIONSBANK, N.A., as Administrative Agent,
                         a Lender and Issuing Bank

                         By: /S/ Natalie E. Herbert
                            -----------------------------
                         Name: Natalie E. Herbert
                         Title: Vice President


                                       13
<PAGE>   14
                          BANKBOSTON, N.A., as Documentation Agent
                          and as a Lender

                         By:  /s/ C.B. Moore
                            ____________________________________________________

                         Name:   C.B. Moore
                              __________________________________________________
                         
                         Title:   Vice President
                               _________________________________________________


                                       14
<PAGE>   15
ACKNOWLEDGED AND AGREED:

GENA LABORATORIES, INC., a
Texas corporation

By:  /s/ Michael L. Kaplan
   _____________________________________

Name:  Michael L. Kaplan
     ___________________________________

Title:  Vice President
      __________________________________

J.D.S. MANUFACTURING CO., INC.,
a California corporation

By:  /s/ Michael L. Kaplan
   _____________________________________

Name:  Michael L. Kaplan
     ___________________________________

Title:  Vice President
      __________________________________

U.K. ABBA PRODUCTS, INC., a
California corporation

By:  /s/ Michael L. Kaplan
   _____________________________________

Name:  Michael L. Kaplan
     ___________________________________

Title:  Vice President
      __________________________________

EUROPEAN TOUCH CO., INCORPORATED,
a Wisconsin corporation

By:  /s/ Michael L. Kaplan
   _____________________________________

Name:  Michael L. Kaplan
     ___________________________________

Title:  Vice President
      __________________________________

EUROPEAN TOUCH, LTD II, a Wisconsin
corporation

By:  /s/ Michael L. Kaplan
   _____________________________________

Name:  Michael L. Kaplan
     ___________________________________

Title:  Vice President
      __________________________________

BEAUTY PRODUCTS, INC., a Wisconsin
corporation

By:  /s/ Michael L. Kaplan
   _____________________________________

Name:  Michael L. Kaplan
     ___________________________________

Title:  Vice President
      __________________________________


                                       15
<PAGE>   16
COSMETICS INTERNATIONAL, INC.,
a Wisconsin corporation

By:     /s/ Michael L. Kaplan
     ------------------------------
Name:   Michael L. Kaplan
Title:  Vice President

STYLING TECHNOLOGY NAIL CORPORATION,
an Arizona corporation

By:     /s/ Michael L. Kaplan
     ------------------------------
Name:   Michael L. Kaplan
Title:  Vice President

FT. PITT ACQUISITION, INC., a Pennsylvania
corporation

By:     /s/ Michael L. Kaplan
     ------------------------------
Name:   Michael L. Kaplan
Title:  Vice President

FT. PITT-FRAMESI, INC., a Pennsylvania
corporation

By:     /s/ Michael L. Kaplan
     ------------------------------
Name:   Michael L. Kaplan
Title:  Vice President

STYL INSTITUTE, INC., an Arizona corporation

By:     /s/ Michael L. Kaplan
     ------------------------------
Name:   Michael L. Kaplan
Title:  Vice President


                                       16