X0202 4 2007-12-17 0 0000863456 WET SEAL INC WTSLA 0001326150 Prentice Capital Management, LP 623 FIFTH AVENUE, 32ND FLOOR NEW YORK NY 10022 1 0 0 0 0001326156 Zimmerman Michael 623 FIFTH AVENUE, 32ND FLOOR NEW YORK NY 10022 1 0 0 0 Class A Common Stock ("Common Stock")` 2007-12-17 4 P 0 724103 2.3294 A 3032913 I See footnote Common Stock 2007-12-18 4 P 0 47088 2.25 A 3080001 I See footnote Common Stock 2007-12-18 4 P 0 3100 2.251 A 3083101 I See footnote Common Stock 2007-12-18 4 P 0 600 2.255 A 3083701 I See footnote Common Stock 2007-12-18 4 P 0 87274 2.26 A 3170975 I See footnote Michael Zimmerman ("Mr. Zimmerman") controls, and is responsible for the supervision and conduct of all investment activities of, Prentice Capital Management, LP ("Prentice Capital," together with Mr. Zimmerman, the "Reporting Persons"), the investment manager of Prentice Capital Partners, LP, Prentice Capital Partners QP, LP, Prentice Capital Offshore, Ltd., Prentice Special Opportunities, LP, Prentice Special Opportunities Offshore, Ltd., Prentice Special Opportunities Master, LP and certain managed accounts (the "Investment Entities"). The Reporting Persons hold the reported securities indirectly through the Investment Entities. The Reporting Persons disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein. The warrants are convertible at any time at the holder's election. THE REPORTING PERSONS AND THE INVESTMENT ENTITIES ARE PROHIBITED FROM EXERCISING THE WARRANTS LISTED BELOW IN (3), IF AFTER SUCH EXERCISE THEY, AS A GROUP, WOULD BENEFICIALLY OWN MORE THAN 9.99% OF THE OUTSTANDING COMMON STOCK. The Reporting Persons hold the following securities indirectly through the Investment Entities: 3,170,975 Shares of Common Stock; Series D Warrants exercisable into 842,098 Shares of Common Stock; Series E Warrants convertible into 3,683,036 Shares of Common Stock; and Warrant No. A-5 exercisable into 527,319 Shares of Common Stock. PRENTICE CAPITAL MANAGEMENT, LP, By: Michael Weiss as Chief Financial Officer, /s/ Michael Weiss 2007-12-18