March 24, 2004


Fidelity Management & Research Co.
c/o Fidelity Investments
82 Devonshire Street E31C
Boston, Massachusetts  02109
Attention:  Nate Van Duzer
Assistant General Counsel
Facsimile: (617) 476-5174
email:  Nate.VanDuzer@FMR.COM

Ladies and Gentlemen:

         Reference is made to that certain exchange support agreement dated as
of February 11, 2004 (as amended, the "Support Agreement") by and between
Revlon, Inc. and Fidelity Management & Research Co. Capitalized terms used
herein and not defined shall have the meaning ascribed to such terms in the
Support Agreement.

         In light of the results of the Exchange Offer in which the aggregate
principal amount of Additional Tendered Notes equals $190,339,000, which
results in an Aggregate Offering Amount (and an Aggregate Back-Stop Amount) of
$9,661,000, the parties agree that the costs and expenses, including, without
limitation, legal, accounting and printing expenses, as well as the use of
organizational resources, in a $9,661,000 rights offering would be unduly
disproportionate and that it would be a better use of corporate resources to
add this amount to the additional debt reduction which is to be completed by
March 31, 2006. Accordingly, notwithstanding anything contained in the Support
Agreement to the contrary, Revlon shall not conduct the Rights Offering and
that M&F shall not purchase the Back-Stop Shares. For the avoidance of doubt,
this shall not (i) affect Revlon's obligations with respect to the Additional
Offerings, (ii) reduce the Aggregate Additional Offering Amount (which, as a
result of this letter agreement, is currently $109,661,000) or (iii) affect
M&F's obligations to purchase the Aggregate Additional Back-Stop Amount
(which, as a result of this letter agreement, is an aggregate investment
amount of $109,661,000).

         As modified hereby, the Support Agreement and its terms and
conditions are hereby ratified and confirmed for all purposes and in all
respects.

                           [Execution Page Follows]

                                            Very truly yours,

                                            REVLON, INC.


                                            By: /s/ Robert K. Kretzman
                                                _______________________
                                            Name:  Robert K. Kretzman
                                            Title: Executive Vice President,
                                                   Chief Legal Officer
                                                   and Secretary

                                            Acknowledged and Agreed:

                                            Fidelity Management & Research Co.

                                            /s/ Nate Van Duzer
                                            _______________________________
                                            Authorized Signature

                                            Nate Van Duzer
                                            Assistant General Counsel and
                                            Secretary
                                            _______________________________
                                            (Type or Print Name and Title of
                                            Authorized Signatory)

                                            Acknowledged and Agreed:

                                            Mafco Holdings Inc.


                                            /s/ Todd J. Slotkin
                                            ______________________________
                                            Authorized Signature


                                            _______________________________
                                            Todd J. Slotkin
                                            Executive Vice President and
                                            Chief Financial Officer

                [Signature Page to Fidelity Support Amendment]