Document:

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                                                                 EXECUTION COPY
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                           MBIA INSURANCE CORPORATION,
                                   as Insurer

                           LONG BEACH ACCEPTANCE CORP.

                                       and

                         GREENWICH CAPITAL MARKETS, INC.
                                       and
                              BARCLAYS CAPITAL INC.
                               as the Underwriters

                            INDEMNIFICATION AGREEMENT

               Long Beach Acceptance Auto Receivables Trust 2003-A
               $45,500,000 1.2875% Asset-Backed Notes, Class A-1,
               $65,000,000 1.4910% Asset-Backed Notes, Class A-2,
              $68,000,000 2.0210% Asset-Backed Notes, Class A-3 and
                $64,000,000 2.7730% Asset-Backed Notes, Class A-4

                           Dated as of March 13, 2003

================================================================================

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                        TABLE OF CONTENTS

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                                                                                                       Page

<S>      <C>                                                                                            <C>
 Section 1.        Definitions...........................................................................1

 Section 2.        Representations and Warranties of the Insurer.........................................2

 Section 3.        Agreements, Representations and Warranties of the Underwriters........................4

 Section 4.        Agreements, Representations and Warranties of LBAC....................................4

 Section 5.        Indemnification.......................................................................4

 Section 6.        Notice To Be Given....................................................................5

 Section 7.        Contribution..........................................................................7

 Section 8.        Notices...............................................................................8

 Section 9.        Governing Law, Etc....................................................................8

 Section 10.       Insurance Agreement; Underwriting Agreement; Sale and Servicing Agreement.............8

 Section 11.       Limitations...........................................................................9

 Section 12.       Counterparts..........................................................................9

 Section 13.       Nonpetition...........................................................................9

 TESTIMONIUM

 SIGNATURES AND SEALS
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                            INDEMNIFICATION AGREEMENT

          This Agreement, dated as of March 13, 2003, is by and among MBIA
Insurance Corporation (the "Insurer"), as the Insurer under the Note Guaranty
Insurance Policy (the "Policy") issued in connection with the Offered Notes
described below, LONG BEACH ACCEPTANCE CORP. ("LBAC") and GREENWICH CAPITAL
MARKETS, INC. and BARCLAYS CAPITAL INC., as the Underwriters (each, an
"Underwriter").

          SECTION 1. DEFINITIONS. As used in this Agreement, the following terms
shall have the respective meanings stated herein, unless the context clearly
requires otherwise, in both singular and plural form, as appropriate.
Capitalized terms used in this Agreement but not otherwise defined herein will
have the meanings ascribed to such terms in the Sale and Servicing Agreement (as
described below).

          "Act" means the Securities Act of 1933, as amended, together with all
related rules and regulations.

          "Agreement" means this Indemnification Agreement by and among the
Insurer, LBAC and the Underwriters.

          "Indemnified Party" means any party entitled to any indemnification
pursuant to Section 5 below, as the context requires.

          "Indemnifying Party" means any party required to provide
indemnification pursuant to Section 5 below, as the context requires.

          "Indenture" means the Indenture dated March 1, 2003 between the Issuer
and the Indenture Trustee, as the same may be amended or supplemented from time
to time in accordance with the terms thereof.

          "Insurance Agreement" means the Insurance Agreement, dated as of March
1, 2003, by and among the Insurer, the Issuer, the Servicer, the Originator, the
Back-up Servicer, the Indenture Trustee, the Trust Collateral Agent and the
Transferor.

          "Insurer Party" means the Insurer and its respective parents,
subsidiaries and affiliates and any shareholder, director, officer, employee,
agent or any "controlling person" (as such term is used in the Act) of any of
the foregoing.

          "LBAC Party" means Long Beach Acceptance Corp., each of its parents,
subsidiaries and affiliates and any shareholder, director, officer, employee,
agent or any "controlling person" (as such term is used in the Act) of any of
the foregoing.

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          "Losses" means (i) any actual out-of-pocket loss paid by the party
entitled to indemnification or contribution hereunder and (ii) any actual
out-of-pocket costs and expenses paid by such party, including reasonable fees
and expenses of its counsel, to the extent not paid, satisfied or reimbursed
from funds provided by any other Person (provided that the foregoing shall not
create or imply any obligation to pursue recourse against any such other
Person).

          "Offered Notes" means the Long Beach Acceptance Auto Receivables Trust
2003-A, $45,500,000 1.2875% Asset-Backed Notes, Class A-1, $65,000,000 1.4910%
Asset-Backed Notes, Class A-2, $68,000,000 2.0210% Asset-Backed Notes, Class A-3
and $64,000,000 2.7730% Asset-Backed Notes, Class A-4, issued pursuant to the
Indenture.

          "Person" means any individual, partnership, joint venture,
corporation, trust or unincorporated organization or any government or agency or
political subdivision thereof.

          "Prospectus" means the prospectus (included in Registration Statement
No. 333-75958) dated January 18, 2002.

          "Prospectus Supplement" means the form of final Prospectus Supplement,
dated March 6, 2003.

          "Registration Statement" means the registration statement on Form S-3
relating to the Offered Notes.

          "Sale and Servicing Agreement" means the Sale and Servicing Agreement,
dated as of March 1, 2003, by and among the Issuer, the Transferor, the
Originator, the Servicer, the Back-up Servicer, the Custodian and the Trust
Collateral Agent, as the same may be amended or supplemented from time to time
in accordance with the terms thereof.

          "Servicer" means Long Beach Acceptance Corp.

          "Transferor" means Long Beach Acceptance Receivables Corp. II.

          "Underwriter Party" means each Underwriter and its respective parent,
subsidiaries and affiliates and any shareholder, director, officer, employee,
agent or "controlling person" (as such term is used in the Act) of any of the
foregoing.

          "Underwriters" means Greenwich Capital Markets, Inc. and Barclays
Capital Inc.

          "Underwriting Agreement" means the Underwriting Agreement among LBAC,
the Transferor and the Underwriters, dated March 6, 2003.

          SECTION 2. REPRESENTATIONS AND WARRANTIES OF THE INSURER. The Insurer
represents and warrants to the Underwriters and LBAC as follows:

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                  (a) Organization and Licensing. The Insurer is a duly
          incorporated and existing New York stock insurance company licensed to
          do business in the State of New York and is in good standing under the
          laws of such state.

                  (b) Corporate Power. The Insurer has the corporate power and
          authority to issue the Policy and execute and deliver this Agreement,
          the Insurance Agreement and the Spread Account Agreement and to
          perform all of its obligations hereunder and thereunder.

                  (c) Authorization; Approvals. The issuance of the Policy and
          the execution, delivery and performance of this Agreement, the
          Insurance Agreement and the Spread Account Agreement have been duly
          authorized by all necessary corporate proceedings. No further
          approvals or filings of any kind, including, without limitation, any
          further approvals of or further filings with any governmental agency
          or other governmental authority, or any approval of the Insurer's
          board of directors or stockholders, are necessary for the Policy, this
          Agreement, the Insurance Agreement and the Spread Account Agreement to
          constitute the legal, valid and binding obligations of the Insurer.

                  (d) Enforceability. The Policy, when issued, and this
          Agreement, the Insurance Agreement and the Spread Account Agreement
          will each constitute legal, valid and binding obligations of the
          Insurer, enforceable in accordance with their terms, subject to
          applicable laws affecting the enforceability of creditors' rights
          generally and general equitable principles and public policy
          considerations as to rights of indemnification for violations of
          federal securities laws.

                  (e) Financial Information. The consolidated financial
          statements of the Insurer as of December 31, 2001 and December 31,
          2000 and for the three years ended December 31, 2001 incorporated by
          reference in the Prospectus Supplement (the "Insurer Audited Financial
          Statements") fairly present in all material respects the financial
          condition of the Insurer as of such date and for the period covered by
          such statements in accordance with generally accepted accounting
          principles consistently applied. The consolidated financial statements
          of the Insurer and its subsidiaries as of September 30, 2002
          incorporated by reference in the Prospectus Supplement (the "Insurer
          Unaudited Financial Statements") present fairly in all material
          respects the financial condition of the Insurer as of such date and
          for the period covered by such statements in accordance with generally
          accepted accounting principles applied in a manner consistent with the
          accounting principles used in preparing the Insurer Audited Financial
          Statements, and, since September 30, 2002 there has been no material
          change in such financial condition of the Insurer which would
          materially and adversely affect its ability to perform its obligations
          under the Policy.

                  (f) Insurer Information. The information in the Prospectus
          Supplement as of the date hereof under the caption "THE INSURER AND
          THE FINANCIAL GUARANTY

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          INSURANCE POLICY" (the "Insurer Information") is limited and does not
          purport to provide the scope of disclosure required to be included in
          a prospectus for a registrant under the Securities Act of 1933, in
          connection with the public offer and sale of securities of such
          registrant. Within such limited scope of disclosure, the Insurer
          Information does not contain any untrue statement of a material fact
          or omit to state a material fact necessary to make the statements
          therein, in light of the circumstances under which they were made, not
          misleading.

                  (g) No Litigation. There are no actions, suits, proceedings or
          investigations pending or, to the best of the Insurer's knowledge,
          threatened against it at law or in equity or before or by any court,
          governmental agency, board or commission or any arbitrator which, if
          decided adversely, would materially and adversely affect its condition
          (financial or otherwise) or its operations or would materially and
          adversely affect its ability to perform its obligations under this
          Agreement, the Policy, the Insurance Agreement or the Spread Account
          Agreement.

          SECTION 3. AGREEMENTS, REPRESENTATIONS AND WARRANTIES OF THE
UNDERWRITERS. The Underwriters represent and warrant to and agree with LBAC and
the Insurer that the statements in the Prospectus Supplement made in reliance
upon and in conformity with written information relating to the Underwriters
furnished to LBAC specifically for use in the preparation of the Prospectus
Supplement, and acknowledged in writing (referred to herein as the "Underwriter
Information"), are true and correct in all material respects.

          SECTION 4. AGREEMENTS, REPRESENTATIONS AND WARRANTIES OF LBAC. LBAC
represents, warrants to and agrees with the Insurer and the Underwriters that:

                  (a) Registration Statement. The information in the
          Registration Statement, the Prospectus and the Prospectus Supplement,
          other than the Insurer Information and the Underwriter Information, is
          true and correct in all material respects and does not contain any
          untrue statement of a fact that is material or omit to state a
          material fact necessary to make the statements therein, in light of
          the circumstances under which they were made, not misleading.

                  (b) Representations and Warranties. Each of the
          representations and warranties of LBAC contained in the Insurance
          Agreement is true and correct in all material respects, and LBAC
          hereby makes each such representation and warranty to, and for the
          benefit of, the Insurer as if the same were set forth in full herein.

         SECTION 5. INDEMNIFICATION.

                  (a) The Insurer hereby agrees, upon the terms and subject to
          the conditions of this Agreement, to indemnify, defend and hold
          harmless each LBAC Party and each Underwriter Party against any and
          all Losses incurred by them with respect to

                                       4
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          the offer and sale of any of the Offered Notes and resulting from the
          Insurer's breach of any of its representations and warranties set
          forth in Section 2 of this Agreement.

                  (b) Each Underwriter, hereby agrees, severally and not
          jointly, upon the terms and subject to the conditions of this
          Agreement, to indemnify, defend and hold harmless each Insurer Party
          against any and all Losses incurred by it with respect to the offer
          and sale of any of the Offered Notes and resulting from such
          Underwriter's breach of any of its representations and warranties set
          forth in Section 3 of this Agreement.

                  (c) LBAC hereby agrees, upon the terms and subject to the
          conditions of this Agreement, to indemnify, defend and hold harmless
          each Insurer Party against any and all Losses incurred by it with
          respect to the offer and sale of any of the Offered Notes and
          resulting from LBAC's breach of any of its representations and
          warranties set forth in Section 4 of this Agreement.

                  (d) Upon the incurrence of any Losses entitled to
          indemnification hereunder, the Indemnifying Party shall reimburse the
          Indemnified Party promptly upon establishment by the Indemnified Party
          to the Indemnifying Party of the Losses incurred.

          SECTION 6. NOTICE TO BE GIVEN.

                  (a) Except as provided in Section 7 below with respect to
          contribution, the indemnification provided herein by the Indemnifying
          Party shall be the exclusive remedy of each Indemnified Party for the
          Losses resulting from the Indemnifying Party's breach of a
          representation, warranty or agreement hereunder; provided, however,
          that each Indemnified Party shall be entitled to pursue any other
          remedy at law or in equity for any such breach so long as the damages
          sought to be recovered shall not exceed the Losses incurred thereby
          resulting from such breach.

                  (b) In the event that any action or regulatory proceeding
          shall be commenced or claim asserted which may entitle an Indemnified
          Party to be indemnified under this Agreement, such party shall give
          the Indemnifying Party written or facsimile notice of such action or
          claim reasonably promptly after receipt of written notice thereof.

                  (c) Upon request of the Indemnified Party, the Indemnifying
          Party shall retain counsel reasonably satisfactory to the Indemnified
          Party to represent the Indemnified Party and any others the
          Indemnifying Party may designate in such proceeding and shall pay the
          fees and disbursements of such counsel related to such proceeding. The
          Indemnifying Party may, at its option, at any time upon written notice
          to the Indemnified Party, assume the defense of any proceeding and may
          designate counsel reasonably satisfactory to the Indemnified Party in
          connection therewith, provided that the counsel so designated would
          have no actual or potential conflict of interest in connection with
          such representation. Unless it shall assume the defense of any
          proceeding the Indemnifying Party shall not be liable for any
          settlement of any proceeding, effected

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          without its written consent, but if settled with such consent or if
          there be a final judgment for the plaintiff, the Indemnifying Party
          agrees to indemnify the Indemnified Party from and against any loss or
          liability by reason of such settlement or judgment. The Indemnifying
          Party shall be entitled to participate in the defense of any such
          action or claim in reasonable cooperation with, and with the
          reasonable cooperation of, each Indemnified Party.

                  (d) The Indemnified Party will have the right to employ its
          own counsel in any such action, but the fees and expenses of such
          counsel will be at the expense of such Indemnified Party unless (i)
          the employment of counsel by the Indemnified Party at the Indemnifying
          Party's expense has been authorized in writing by the Indemnifying
          Party, (ii) the Indemnifying Party has not in fact employed counsel to
          assume the defense of such action within a reasonable time after
          receiving notice of the commencement of the action or (iii) the named
          parties to any such action include the Indemnifying Party on the one
          hand and, on the other hand, the Indemnified Party, and representation
          of both parties by the same counsel would be inappropriate due to
          actual or potential differing interests between them (in which case if
          such Indemnified Party notifies the Indemnifying Party in writing that
          it elects to employ separate counsel at the expense of the
          Indemnifying Party, the Indemnifying Party shall not have the right to
          assume the defense of such action or proceeding on such Indemnified
          Party's behalf), in each of which cases the reasonable fees and
          expenses of counsel (including local counsel) will be at the expense
          of the Indemnifying Party, and all such fees and expenses will be
          reimbursed promptly as they are incurred. In the event that any
          expenses so paid by the Indemnifying Party are subsequently determined
          not to be required to be borne by the Indemnifying Party hereunder,
          the party which received such payment shall promptly refund to the
          Indemnifying Party the amount so paid by such Indemnifying Party.
          Notwithstanding the foregoing, in connection with any one action or
          separate but substantially similar or related actions in the same
          jurisdiction arising out of the same general allegations or
          circumstances, the Indemnifying Party shall not be liable for the fees
          and expenses of more than one counsel for all LBAC Parties, more than
          one counsel for all Underwriter Parties and more than one counsel for
          all Insurer Parties, as applicable.

                  (e) The Indemnified Parties shall cooperate with the
          Indemnifying Parties in resolving any event which would give rise to
          an indemnity obligation pursuant to Section 5 hereof in the most
          efficient manner.

                  (f) No settlement of any such claim or action shall be entered
          into without the consent of each Indemnified Party who is subject to
          such claim or action, on the one hand, and each Indemnifying Party who
          is subject to such claim or action, on the other hand; provided,
          however, that the consent of such Indemnified Party shall not be
          required if such settlement fully discharges, with prejudice against
          the plaintiff, the claim or action against such Indemnified Party.

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                  (g) Any failure by an Indemnified Party to comply with the
          provisions of this Section shall relieve the Indemnifying Party of
          liability only if such failure is materially prejudicial to any legal
          pleadings, grounds, defenses or remedies in respect thereof or the
          Indemnifying Party's financial liability hereunder, and then only to
          the extent of such prejudice.

          SECTION 7. CONTRIBUTION.

                  (a) To provide for just and equitable contribution if the
          indemnification provided by the Insurer is determined to be
          unavailable for an Underwriter Party (other than pursuant to Section 5
          or 6 of this Agreement), or if the indemnification provided by any
          Underwriter is determined to be unavailable for any Insurer Party
          (other than pursuant to Section 5 or 6 of this Agreement), the Insurer
          and each Underwriter shall contribute to the aggregate costs of
          liabilities arising from any breach of their respective
          representations and warranties set forth in this Agreement on the
          basis of the relative fault of all Insurer Parties and all related
          Underwriter Parties.

                  (b) To provide for just and equitable contribution if the
          indemnification provided by the Insurer is determined to be
          unavailable for any LBAC Party (other than pursuant to Section 5 or 6
          of this Agreement), or if the indemnification provided by LBAC is
          determined to be unavailable for any Insurer Party (other than
          pursuant to Section 5 or 6 of this Agreement), the Insurer and LBAC
          shall contribute to the aggregate cost of liabilities arising from any
          breach of their respective representations and warranties set forth in
          this Agreement on the basis of the relative fault of all Insurer
          Parties and all LBAC Parties.

                  (c) The relative fault of each Indemnifying Party, on the one
          hand, and of each Indemnified Party, on the other hand, shall be
          determined by reference to, among other things, whether the breach of,
          or alleged breach of, any of its representations and warranties set
          forth in Section 2, 3 or 4 of this Agreement relates to information
          supplied by, or action within the control of, the Indemnifying Party
          or the Indemnified Party and the Parties' relative intent, knowledge,
          access to information and opportunity to correct or prevent such
          breach.

                  (d) The parties agree that the Insurer shall be solely
          responsible for the Insurer Information and for the Insurer Financial
          Statements, that each Underwriter shall be solely responsible for the
          Underwriter Information relating to such Underwriter provided by the
          Underwriters in writing for use in the Prospectus Supplement and that
          LBAC shall be responsible for all other information in the
          Registration Statement and in the Prospectus Supplement.

                  (e) No person guilty of fraudulent misrepresentation (within
          the meaning of Section 11(f) of the Act) shall be entitled to
          contribution from any person who was not guilty of such fraudulent
          misrepresentation.

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                  (f) The indemnity and contribution agreements contained in
          this Agreement shall remain operative and in full force and effect,
          regardless of (i) any investigation made by or on behalf of any
          Underwriter Party, any LBAC Party or any Insurer Party, (ii) the
          issuance of any Offered Notes or the Policy or (iii) any termination
          of this Agreement.

                  (g) Upon the incurrence of any Losses entitled to contribution
          hereunder, the contributor shall reimburse the party entitled to
          contribution promptly upon establishment by the party entitled to
          contribution to the contributor of the Losses incurred.

          SECTION 8. NOTICES. All notices and other communications provided for
under this Agreement shall be addressed to the address set forth below as to
each party or at such other address as shall be designated by a party in a
written notice to the other party.

          If to the Insurer:          MBIA Insurance Corporation
                                      113 King Street
                                      Armonk, NY  10504
                                      Attention: Insured Portfolio Management--
                                                 Structured Finance (IPM-SF)

          If to LBAC:                 Long Beach Acceptance Corp.
                                      One Mack Centre Drive
                                      Paramus, NJ 07652
                                      Attention: General Counsel

          If to the Underwriters:     Greenwich Capital Markets, Inc.
                                      600 Steamboat Road
                                      Greenwich, CT 06830
                                      Attention: Legal Department

                                      Barclays Capital Inc.
                                      200 Park Avenue
                                      New York, NY  10166
                                      Attention:  Mr. Michael Wade

          SECTION 9. GOVERNING LAW, ETC. This Agreement shall be deemed to be a
contract under the laws of the State of New York and shall be governed by and
construed in accordance with the laws of the State of New York without regard to
its conflicts of laws provisions. This Agreement may not be assigned by any
party without the express written consent of each other party. Amendments of
this Agreement shall be in writing signed by each party. This Agreement shall
not be effective until executed by each of the Insurer, LBAC and the
Underwriters.

          SECTION 10. INSURANCE AGREEMENT; UNDERWRITING AGREEMENT; SALE AND
SERVICING AGREEMENT. This Agreement in no way limits or otherwise affects the
indemnification obligations of LBAC under (a) the Insurance Agreement, (b) the
Underwriting Agreement or

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<PAGE>

(c) the Sale and Servicing Agreement. To the extent that this Agreement
conflicts with or does not address the relative rights of the Underwriters and
LBAC as between themselves as set forth in the Underwriting Agreement, the
Underwriting Agreement shall govern.

          SECTION 11. LIMITATIONS. Nothing in this Agreement shall be construed
as a representation or undertaking by the Insurer concerning maintenance of the
rating currently assigned to its claims-paying ability by Moody's Investors
Service, Inc. ("Moody's") and/or Standard & Poor's Ratings Services, a division
of The McGraw-Hill Companies, Inc. ("S&P") or any other rating agency
(collectively, the "Rating Agencies").

          SECTION 12. COUNTERPARTS. This Agreement may be executed in any number
of counterparts, each of which shall together constitute but one and the same
instrument.

          SECTION 13. NONPETITION. So long as the Insurance Agreement is in
effect, and for one year following its termination, none of the parties hereto
will file any involuntary petition or otherwise institute any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceeding or other
proceeding under any federal or state bankruptcy or similar law against the
Issuer.

               [Remainder of this page intentionally left blank.]

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         IN WITNESS WHEREOF, the parties hereto have caused this Indemnification
Agreement to be duly executed and delivered by their respective officers
thereunto duly authorized, all as of the date first above written.

                                      MBIA INSURANCE CORPORATION

                                      By
                                        ----------------------------------------
                                        Assistant Secretary

                                      LONG BEACH ACCEPTANCE CORP.

                                      By
                                        ----------------------------------------
                                      Title
                                           -------------------------------------

                                      GREENWICH CAPITAL MARKETS, INC.

                                      By
                                        ----------------------------------------
                                      Title
                                           -------------------------------------

                                      BARCLAYS CAPITAL INC.

                                      By
                                        ----------------------------------------
                                      Title
                                           -------------------------------------

Long Beach Acceptance Auto Receivables Trust 2003-A
Indemnification Agreement Signature Page<PAGE>

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Rights Certificate No.:    THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING ARE SET FORTH IN THE              Number of Rights:
  R:                       COMPANY'S PROSPECTUS DATED  __________  __,  2003 (THE "PROSPECTUS") AND ARE
                           INCORPORATED HEREIN BY REFERENCE. COPIES OF THE PROSPECTUS ARE AVAILABLE UPON
                           REQUEST FROM D.F. KING & CO., INC., THE INFORMATION AGENT.

                                                             REVLON, INC.
                                        Incorporated under the laws of the State of Delaware                 CUSIP NO.: 761525 11 2

                                                    SUBSCRIPTION RIGHTS CERTIFICATE

                     Evidencing Subscription Rights to Purchase Shares of Class A Common Stock of Revlon, Inc.
                                                  Subscription Price: $____ per Share

                THE SUBSCRIPTION RIGHTS WILL EXPIRE IF NOT EXERCISED ON OR BEFORE 5:00 P.M., NEW YORK CITY TIME, ON
                                             __________, 2003, UNLESS EXTENDED BY THE COMPANY
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REGISTERED OWNER:

THIS CERTIFIES THAT the registered owner whose name is inscribed hereon is the
owner of the number of subscription rights ("Rights") set forth above. Each
whole Right entitles the holder thereof, or its assigns, to subscribe for and
purchase one share of Class A Common Stock, with a par value of $0.01 per
share, of Revlon, Inc., a Delaware corporation, at a subscription price of $___
per share (the "Basic Subscription Privilege"), pursuant to a rights offering
(the "Rights Offering"), on the terms and subject to the conditions set forth in
the Prospectus and the "Instructions as to Use of Revlon, Inc. Subscription
Rights Certificates" accompanying this Subscription Rights Certificate. If any
shares of Class A Common Stock available for purchase in the Rights Offering are
not purchased by other holders of Rights pursuant to the exercise of their Basic
Subscription Privilege (the "Excess Shares"), any Rights holder that exercises
its Basic Subscription Privilege in full may subscribe for a number of Excess
Shares pursuant to the terms and conditions of the Rights Offering, subject to
proration, as described in the Prospectus (the "Over-Subscription Privilege").
The Rights represented by this Subscription Rights Certificate may be exercised
by completing Form 1 and any other appropriate forms on the reverse side hereof
and by returning the full payment of the subscription price for each share of
Class A Common Stock in accordance with the "Instructions as to Use of Revlon,
Inc. Subscription Rights Certificates" that accompany this Subscription Rights
Certificate. The Rights evidenced by this Subscription Rights Certificate may
also be transferred or sold by completing the appropriate forms on the reverse
side hereof in accordance with the "Instructions as to Use of Revlon, Inc.
Subscription Rights Certificates" that accompany this Subscription Rights
Certificate.

Transferable on the books of Revlon, Inc. in person or by duly authorized
attorney upon surrender of this Subscription Rights Certificate properly
endorsed. This Subscription Rights Certificate is not valid unless countersigned
by the transfer agent and registered by the registrar.

Witness the seal of Revlon, Inc. and the signatures of its duly authorized
officers.

Dated: _______ __, 2003

----------------------------------           -----------------------------------
          Jack L. Stahl                                Robert K. Kretzman
President, Chief Executive Officer                   Senior Vice President,
 and Principal Executive Officer                  General Counsel and Secretary

COUNTERSIGNED AND REGISTERED: AMERICAN STOCK TRANSFER & TRUST COMPANY
                (New York, NY)         TRANSFER AGENT
                                       AND REGISTRAR

By:
    -------------------------------
          AUTHORIZED SIGNATURE

--------------------------------------------------------------------------------

<PAGE>

              DELIVERY OPTIONS FOR SUBSCRIPTION RIGHTS CERTIFICATE

           For delivery by mail, hand delivery or over night courier:

                     American Stock Transfer & Trust Company
                           59 Maiden Lane, Plaza Level
                            New York, New York 10038

       Delivery other than in the manner or to the addresses listed above
                       will not constitute valid delivery.

                PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY.

FORM 1 - EXERCISE OF SUBSCRIPTION RIGHTS

To subscribe for shares pursuant to your Basic Subscription Privilege, please
complete lines (a) and (c) and sign under Form 5 below. To subscribe for shares
pursuant to your Over-subscription Privilege, please also complete line (b) and
sign under Form 5 below.

(a) EXERCISE OF BASIC SUBSCRIPTION PRIVILEGE:

I apply for ___________________ shares x $                     = $_________
            (no. of new shares)           (subscription price)    (Payment)

(b) EXERCISE OF OVER-SUBSCRIPTION PRIVILEGE:

If you have exercised your Basic Subscription Privilege in full and wish to
subscribe for additional shares pursuant to your Over-Subscription Privilege:

I apply for ___________________ shares x $                     = $_________
            (no. of new shares)           (subscription price)    (Payment)

(c) Total Amount of Payment Enclosed = $

METHOD OF PAYMENT (CHECK ONE):

[ ]  Check or bank draft drawn on a U.S. bank, or postal, telegraphic or
     express money order payable to "American Stock Transfer & Trust Company, as
     Subscription Agent." Funds paid by an uncertified check may take at least
     five business days to clear.

[ ]  Wire transfer of immediately available funds directly to the account
     maintained by American Stock Transfer & Trust Company, as Subscription
     Agent, for purposes of accepting subscriptions in this Rights Offering at
     JPMorgan Chase Bank, 55 Water Street, New York, New York 10005, ABA
     #021000021, Account #323-113109.

FORM 2 - SALE OR TRANSFER TO DESIGNATED TRANSFEREE OR THROUGH BANK OR BROKER

To sell or transfer your subscription rights to another person, complete this
Form and have your signature guaranteed under Form 6. To sell your subscription
rights through your bank or broker, sign below under this Form 2 and have your
signature guaranteed under Form 6, but leave the rest of this Form 2 blank.

For value received _____________ of the subscription rights represented by this
Subscription Rights Certificate are assigned to:

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            (Print Full Name of Assignee)

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                 (Print Full Address)

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              Tax ID or Social Security No.

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                      Signature(s)

IMPORTANT: The signature(s) must correspond with the name(s) as printed on the
reverse of this Subscription Rights Certificate in every particular, without
alteration or enlargement, or any other change whatsoever.

FORM 3 - [ ] CHECK HERE TO SELL YOUR UNEXERCISED SUBSCRIPTION RIGHTS THROUGH
AMERICAN STOCK TRANSFER & TRUST COMPANY, AS SUBSCRIPTION AGENT.

If you want the Subscription Agent to attempt to sell your unexercised
subscription rights, check the box above on this Form 3, sign under Form 5 and
have your signature guaranteed under Form 6.

FORM 4 - DELIVERY TO DIFFERENT ADDRESS

If you wish for the Class A Common Stock underlying your subscription rights, a
certificate representing unexercised subscription rights or the proceeds of any
sale of subscription rights to be delivered to an address different from that
shown on the face of this Subscription Rights Certificate, please enter the
alternate address below, sign under Form 5 and have your signature guaranteed
under Form 6.

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FORM 5 - SIGNATURE

TO SUBSCRIBE: I acknowledge that I have received the Prospectus for this Rights
Offering and I hereby irrevocably subscribe for the number of shares indicated
above on the terms and conditions specified in the Prospectus.

TO SELL: If I have completed Form 3, I authorize the sale by the Subscription
Agent, according to the procedures described in the Prospectus, of any
subscription rights represented by this Subscription Rights Certificate but not
exercised hereby.

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Signature(s)

IMPORTANT: The signature(s) must correspond with the name(s) as printed on the
reverse of this Subscription Rights Certificate in every particular, without
alteration or enlargement, or any other change whatsoever.

FORM 6 - SIGNATURE GUARANTEE

This form must be completed if you have completed any portion of Forms 2, 3
or 4.

Signature Guaranteed:
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                                        (Name of Bank or Firm)

By:
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                             (Signature of Officer)

IMPORTANT: The signature(s) should be guaranteed by an eligible guarantor
institution (bank, stock broker, savings & loan association or credit union)
with membership in an approved signature guarantee medallion program pursuant to
Securities and Exchange Commission Rule 17Ad-15.

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FOR INSTRUCTIONS ON THE USE OF REVLON, INC. SUBSCRIPTION RIGHTS CERTIFICATES,
CONSULT D.F. KING & CO., INC., THE INFORMATION AGENT, AT (800) 949-2583 AND
BANKS AND BROKERS MAY CALL THE INFORMATION AGENT AT (212) 269-5550.

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