THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Wet Seal, Inc. (The) (WTSLA)

5/3/2006 Proxy Information

On May 3, 2005, the Company issued 24,600 shares of preferred stock for an aggregate purchase price of $24.6 million, and warrants to acquire initially up to 7.5 million shares of the Company’s Class A Common Stock in a private placement transaction (the “May Private Placement”) with investors, certain of whom had previously received securities convertible into the Company’s Class A Common Stock in connection with private placement transactions that occurred in June 2004 and January 2005. Messrs. Zimmerman and Duskin serve as Chief Executive Officer and Managing Director and Partner, respectively, of Prentice Capital Management, LP, (“Prentice”), which was one of the investors in the May Private Placement. Prentice paid a purchase price equal to $6,040,000 to the Company in exchange for receiving 6,040 shares of preferred stock and warrants to acquire initially up to 1,473,214 shares of the Company’s Class A Common Stock.

Mr. Siegel is a senior partner with the law firm of Akin Gump Strauss Hauer and Feld LLP (“Akin Gump”). In fiscal year 2005, the Company paid $1,600,000 for legal services received from Akin Gump.

In fiscal 2005, the Company purchased $600,000 of merchandise inventories from YM, Inc., a Canadian retail company owned by Mr. Gold. Also, in his role as merchandising consultant to the Company, Mr. Gold is significantly involved in purchasing decisions and terms negotiated with merchandise vendors for the Wet Seal concept. A substantial majority of these vendors also provide merchandise inventories to Mr. Gold’s Canadian retail businesses.

6/17/2005 Proxy Information

Alan Siegel is a partner in the law firm of Akin Gump Strauss Hauer & Feld LLP, which provides legal services to the Company.

4/15/2004 Proxy Information

Ms. Zehren currently runs her own consulting company advising clients, including The Wet Seal, Inc., on innovative strategies to drive profitable performance.

Mr. Teitelbaum and Mr. Gross are brothers-in-law. Mr. Teitelbaum was Chairman of The Wet Seal, Inc. from 1984 until August 2004, and served as acting Chief Executive Officer from Feburary 2003 until June 2003.

Alan Siegel is a partner in the law firm of Akin Gump Strauss Hauer & Feld LLP, which provides legal services to the Company.

In fiscal years 2003, 2002 and 2001, the Company paid a fee of $639,500, $639,500, and $500,000, respectively, to First Canada Management Consultants Limited, a company controlled by Mr. Teitelbaum, for the services of Mr. Teitelbaum, in his capacity as Chairman of the Board of the Company, and Stephen Gross, Corporate Secretary of the Company, respectively. These services are provided pursuant to a Management Agreement, dated December 1, 1999, and amended on June 28, 2001, between First Canada Management Consultants Limited and the Company. The term of this agreement expires on January 28, 2006, subject to earlier termination in certain circumstances. In addition, the Company granted to First Canada Management Consults Limited the following options to acquire shares of Class A Common Stock: 175,000 options in 2003; 75,000 options in 2002, which were later cancelled; and 180,000 options in 2001.

4/14/2003 Proxy Information

In fiscal years 2002, 2001 and 2000, the Company paid a fee of $639,500, $575,000 and $500,000, respectively, to First Canada Management Consultants Limited, a company controlled by Irving Teitelbaum, for the services of Irving Teitelbaum, Chairman of the Board of the Company, and Stephen Gross, Corporate Secretary of the Company, respectively. These services are provided pursuant to a Management Agreement, dated December 1, 1999, and amended on June 28, 2001, between First Canada Management Consultants Limited and the Company. The term of this agreement expires on January 28, 2006, subject to earlier termination in certain circumstances.