REGIS CORPORATION

                     SERIES G SENIOR NOTE

No.G-1
ORIGINAL PRINCIPAL AMOUNT:  $14,000,000
ORIGINAL ISSUE DATE:  July 10, 1998
INTEREST RATE:  7.14% per annum
INTEREST PAYMENT DATES:  2nd day of each October, January, April and July.
FINAL MATURITY DATE:  July 2, 2008
PRINCIPAL PREPAYMENT DATES AND AMOUNTS:  $9,000,000 on July 2, 2007 and 
$5,000,000 on July 2, 2008

     FOR VALUE RECEIVED, the undersigned, Regis Corporation (herein called 
the "Company"), a corporation organized and existing under the laws of the 
State of Minnesota, hereby promises to pay to The Prudential Insurance 
Company of America, or registered assigns, the principal sum of FOURTEEN 
MILLION DOLLARS ($14,000,000) on the Final Maturity Date specified above with 
interest (computed on the basis of a 360-day year--30-day month) (a) on the 
unpaid balance thereof at the Interest Rate per annum specified above, 
payable on each Interest Payment Date specified above and on the Final 
Maturity Date specified above, commencing October 2, 1998, until the 
principal hereof shall have become due and payable, and (b) on any overdue 
payment (including any overdue prepayment) of principal, any overdue payment 
of Yield-Maintenance Amount and any overdue payment of interest, payable on 
each Interest Payment Date as aforesaid (or, at the option of the registered 
holder hereof, on demand), at a rate per annum from time to time equal to the 
greater of (i) 2% over the Interest Rate specified above or (ii) 2% over the 
rate of interest publicly announced by Morgan Guaranty Trust Company of New 
York from time to time in New York City as its prime rate.

     Payments of principal, Yield-Maintenance Amount, if any, and interest 
are to be made at the main office of Bank of New York in New York City or at 
such other place as the holder hereof shall designate to the Company in 
writing, in lawful money of the United States of America.

     This Note is one of a series of Senior Notes (herein called the "Notes") 
issued pursuant to a Private Shelf Agreement, dated as of July 25, 1995, as 
amended by that certain amendment dated July 11, 1997 and that certain 
amendment dated as of January 22, 1998 (herein called the "Agreement"), 
between the Company, on the one hand, and The Prudential Insurance Company of 
America and each Prudential Affiliate (as defined in the Agreement) which 
becomes party thereto, on the other hand, and is entitled to the benefits 
thereof.

     This Note is subject to optional prepayment, in whole or from time to 
time in part, on the terms specified in the Agreement.

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     This Note is a registered Note and, as provided in the Agreement, upon 
surrender of this Note for registration of transfer, duly endorsed, or 
accompanied by a written instrument of transfer duly executed, by the 
registered holder hereof or such holder's attorney duly authorized in 
writing, a new Note for the then outstanding principal amount will be issued 
to, and registered in the name of, the transferee. Prior to due presentment 
for registration of transfer, the Company may treat the person in whose name 
this Note is registered as the owner hereof for the purpose of receiving 
payment and for all other purposes, and the Company shall not be affected by 
any notice to the contrary.

     In case an Event of Default shall occur and be continuing, the principal 
of this Note may be declared or otherwise become due and payable in the 
manner and with the effect provided in the Agreement.

     Capitalized terms used and not otherwise defined herein shall have the 
meanings (if any) provided in the Agreement.

     This Note is intended to be performed in the State of Illinois and shall 
be construed and enforced in accordance with the internal law of such State.

                                     REGIS CORPORATION

                                     By:  /s/ Randy L. Pearce
                                         ---------------------------------
                                         Randy L.  Pearce
                                         Senior Vice President-Finance

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