Exhibit 99

Alberto Culver Reports Second Quarter and First Half Fiscal Year 2011

Sales and Profit Growth

Melrose Park, IL (May 2, 2011) – Alberto Culver Company (NYSE: ACV), a leading manufacturer and marketer of beauty care brands including TRESemmé, Alberto VO5, Nexxus, St. Ives, Simple and Noxzema, today announced results for its fiscal year 2011 second quarter and first half ended March 31, 2011.

Second Quarter

First Half

Alberto Culver President and Chief Executive Officer V. James Marino said, “I am very proud of our incredibly talented and dedicated team who despite being faced with challenging market conditions and the pending Unilever transaction, continued to build momentum on our brands and deliver strong results.”

In the U.S., sales increased 1.9% in the second quarter due to strong growth in branded beauty care, partially offset by significantly lower custom label manufacturing sales. International sales on a reported basis increased 12.0% (the net effect of foreign currency fluctuations accounted for approximately 4.4% of the growth), reporting growth in every region in which the Company operates.

The Company’s gross profit margin was 51.5% in the second quarter compared to 52.2% in the prior year second quarter. The decrease in gross margin was primarily due to higher input costs.

Advertising and other marketing investments in the second quarter of $68.9 million were flat versus the prior year second quarter.

Selling and administrative expenses as a percentage of net sales decreased 340 basis points to 19.4% in the second quarter compared to 22.8% in the prior year second quarter. The improvement was partly due to expenditures in the prior year second quarter related to the voluntary withdrawal of select SKUs of relaxer products and costs in the U.S. associated with the SAP implementation. Sales growth and continued cost containment in the second quarter of fiscal year 2011 also contributed to the lower rate.

Carol Lavin Bernick, Executive Chairman of the Company, said, “Competing against some of the strongest companies in the world our team continues to drive exceptional results. This quarter – and the past year – are a tribute to the passion and values that this outstanding group brings to our workplace and displays every day.”

Ms. Bernick also announced that the Company’s board of directors conditionally approved the regular 8.5 cents quarterly cash dividend with a record date of May 12, 2011 and a payment date of May 24, 2011. If the transaction closes on or prior to May 12, 2011, the dividend will not be paid.

On September 27, 2010, the Company entered into a definitive agreement with Unilever pursuant to which Unilever will acquire all of the outstanding shares of Alberto Culver for $37.50 per share in cash. On December 17, 2010, the transaction was approved by Alberto Culver stockholders. The closing of the transaction is subject to regulatory approvals and other customary closing conditions.

On December 18, 2009, the Company completed the acquisition of all of the issued and outstanding shares of Simple Health & Beauty Group Limited. Simple is a leading skin care company based in the United Kingdom that was owned primarily by Duke Street, a mid-market private equity fund. The total purchase price was approximately $385 million, and the transaction was funded from the Company’s existing cash.

Due to the disclosure of organic sales growth and financial results excluding restructuring and discrete items, this press release contains certain non-GAAP financial measures as defined by Regulation G of the Securities and Exchange Commission. A description of the Company’s restructuring activities and discrete items, as well as a reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures, are included as a schedule to this release and can also be found on the Company’s web site at www.alberto.com.

Alberto Culver Company manufactures, distributes and markets leading beauty care and other personal care brands including TRESemmé, Alberto VO5, Nexxus, St. Ives, Simple and Noxzema in the United States and internationally. It is also the second largest producer in the U.S. of products for the ethnic hair care market with leading brands including Motions and Soft & Beautiful. Several of its household/grocery brands such as Mrs. Dash and Static Guard are niche category leaders in the U.S.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on management’s current expectations and assessments of risks and uncertainties and reflect various assumptions concerning anticipated results, which may or may not prove to be correct. Some of the factors relating to the Unilever transaction that could cause actual results to differ materially from estimates or projections contained in such forward-looking statements include: the occurrence of any event, effect or change that could give rise to a termination of the Unilever transaction agreement, including, but not limited to, the failure to satisfy certain conditions to complete the transaction, including the receipt of certain regulatory approvals; the outcome of legal proceedings that may be instituted in the future against the Company and/or Unilever in connection with the Unilever transaction agreement; risks that the proposed transaction, prior to closing or if terminated, disrupts current plans and operations and creates potential difficulties in employee retention; and the amount of the costs, fees, expenses and charges related to the Unilever transaction. Other factors not involving the Unilever transaction that could cause actual results to differ materially from estimates or projections contained in such forward-looking statements include: the pattern of brand sales;

competition within the relevant product markets; loss of one or more key employees; loss of one or more key customers; increases in costs of raw materials; inability of efficiency initiatives to improve the Company’s margins; loss of one or more key suppliers or contract packers; inability of the Company to protect its intellectual property; manufacturing and supply chain disruptions; adverse changes in currency exchange rates; special demands by key customers; risks inherent in acquisitions, divestitures and strategic alliances, including, without limitation, undisclosed liabilities and obligations for which the Company may have limited or no recourse; risks inherent in expanding in existing geographic locations and entering new geographic locations; the risk that the expected cost savings related to reorganizations and restructurings may not be realized; the effects of a prolonged United States or global economic downturn or recession; health epidemics; unavailability of raw materials or finished products; the disruption of normal business activities due to the Company’s implementation of a new worldwide ERP system; increases in inflation rates; events that negatively affect the intended tax free nature of the distribution of shares of Alberto Culver Company in connection with the separation of the consumer products business from the beauty supply distribution business on November 16, 2006; changes in costs; unanticipated costs and effects of legal or administrative proceedings; adverse weather conditions; and variations in political, economic or other factors such as interest rates, availability of credit, tax changes, legal and regulatory changes or other external factors over which the Company has no control. These forward-looking statements speak only as of the date of this press release, and there is no undertaking to update or revise them as more information becomes available. Additional factors that could cause Alberto Culver’s results to differ materially from those described in the forward-looking statements can be found in the Company’s 2010 Annual Report on Form 10-K filed on November 23, 2010 with the SEC and available at the SEC’s internet site (http://www.sec.gov). In addition, please refer to the documents that the Company files with the SEC on Forms 10-Q and 8-K, which identify and address other important factors that could cause events and results to differ materially from those contained in the forward-looking statements set forth in this press release.

Consolidated Condensed Statements of Earnings (Unaudited)

(in thousands, except per share data)

Consolidated Condensed Statements of Earnings (Unaudited)

(in thousands, except per share data)

Consolidated Condensed Balance Sheets (Unaudited)

(in thousands)

Segment Data (Unaudited)

(in thousands)

Schedule - Reconciliation of Non-GAAP Financial Measures

The Company’s press release announcing results of operations for the three and six months ended March 31, 2011 includes references to certain of the following “non-GAAP financial measures” as defined by Regulation G of the Securities and Exchange Commission:

In June 2009, the Company committed to a plan primarily related to the downsizing of its manufacturing facility and the consolidation of its warehouse and office facilities in Chatsworth, California. In November 2009, the Company committed to an additional plan primarily related to ceasing all manufacturing activities at its facility in Chatsworth, California. During fiscal year 2010, the Company recorded restructuring costs related to these plans of $5.0 million ($4.5 million in the first half and $505,000 in the second quarter). During the first half of fiscal year 2011, the Company recorded additional restructuring costs related to these plans of $394,000 ($177,000 in the second quarter).

In addition to these two plans, the Company recorded restructuring costs of $100,000 in the first half of fiscal year 2011 ($116,000 in the second quarter) and $119,000 during fiscal year 2010 ($80,000 in the first half and a benefit of $102,000 in the second quarter) related to previously announced plans. In total, the company recorded restructuring and other costs during the first half of fiscal year 2011 of $494,000 ($350,000 after taxes and no material effect on diluted earnings per share from continuing operations) with $293,000 in the second quarter ($226,000 after taxes and no material effect on diluted earnings per share from continuing operations). In fiscal year 2010, the Company recorded total restructuring and other costs of $5.1 million ($3.2 million after taxes) with $4.6 million in the first half ($2.9 million after taxes or 3 cents per diluted share from continuing operations) and $403,000 in the second quarter ($208,000 after taxes and no material effect on diluted earnings per share from continuing operations).

In connection with the proposed transaction with Unilever, the Company has incurred transaction expenses (primarily investment banking, legal and other professional service fees and certain employee retention expenses) of $19.3 million with $12.0 million in the first half of fiscal year 2011 ($10.8 million after taxes or 11 cents per diluted share from continuing operations) and $6.7 million in the second quarter ($5.5 million after taxes or approximately 6 cents per diluted share from continuing operations). In connection with the acquisition of Simple Health & Beauty Group Limited on December 18, 2009, the Company incurred transaction expenses during the first half of fiscal year 2010 of $6.0 million (6 cents per diluted share from continuing operations). In the second quarter of fiscal year 2010, the Company recorded an adjustment to reduce transaction expenses by $111,000 (no material effect on diluted earnings per share from continuing operations). With the exception of employee retention expenses, costs related to the Unilever transaction are not expected to be deductible for income tax purposes.

In fiscal year 2010, the Company incurred costs related to a dispute with a supplier of $1.1 million prior to the dispute being settled in the third quarter. The settlement included the forgiveness of $5.8 million of obligations the Company owed to the supplier and the receipt of $2.9 million in cash from the supplier. On a net basis, the Company recorded a benefit related to this matter of $7.6 million in fiscal year 2010 ($5.2 million after taxes) with costs of $882,000 in the first half ($605,000 after taxes and no material effect on diluted earnings per share from continuing operations) and $642,000 in the second quarter ($440,000 after taxes and no material effect on diluted earnings per share from continuing operations).

The Company’s provision for income taxes in the first half of fiscal years 2011 and 2010 included net discrete tax expense of $464,000 and $62,000, respectively. The Company’s provision for income taxes in the second quarter of fiscal years 2011 and 2010 included net discrete tax expense of $449,000 and $19,000, respectively. These amounts did not have a material effect on diluted earnings per share from continuing operations.

Schedule - Reconciliation of Non-GAAP Financial Measures (continued)

Reconciliations of these non-GAAP financial measures to their most directly comparable financial measures under GAAP for the three and six months ended March 31, 2011 and 2010 are as follows (in thousands, except per share data):

Management uses these non-GAAP financial measures to evaluate the performance of the Company and believes the presentation of these amounts provides the reader with information necessary to analyze the Company’s normal operations for the periods compared.

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