Can Prempro cause increased hair on face,abdomen & arms?

I started taking Prempro a year & half ago. I am 53. Within 2 months I had red bumps on my abdomen. It turned out they were hairs growing sideways(ingrown Hairs). They are like whiskers. Then I got them on the side of my face. Now I have them on my arms! They are extremely sore & itch until you can get the hair to surface and pluck. Then it feels like you just took out a thorn! Total relief! I have been told people with curly hair are more prone to ingrown hairs, but this is ridiculous. I know it is common to have a whisker now & then on your face after menopause, but when they are ingrown it takes weeks to get them to heal. Could my taking Prempro have started this mess? Do you think a lower dose would eliminate the excess hair while still taking care of the hot flashes/night sweats? Anyone else out there with this problem?