br 01-94 white dial

BANGKOK, 20 June 2006; Cindy Crawford, the World-renowned supermodel and OMEGA's star brand ambassador visited Thailand to launch the new OMEGA boutique and reveal the luxury jewellery collection known as the OMEGA "Bijoux collection" at Gaysorn."We are delighted to bring the 'Bijoux Collection' to Thailand. Our watch collection, especially the 'Constellation' series for ladies, has done very well in this highly sophisticated market, and we are confident that our 'Bijoux Collection' will appeal to connoisseurs of fine jewellery in Thailand", said Mr. Stephen Urquhart, President of OMEGA.As an ambassador for the brand for 10 years now, Ms. Crawford has consistently communicated the values of the brand all over the world. "The OMEGA Bijoux collection comprises distinctive pieces, with each one a true masterpiece of craftsmanship and style. I am thrilled to continue my relationship and work with Omega as an ambassador," said Ms.Crawford. "Bijoux Collection" comprises four lines - the Griffes, Omegamania, Sedna and Aqua. Each line has its own distinctive hallmarks and is designed from the inspiration and imagination with delicacy in OMEGA style. In conjunction with her visit to Thailand, OMEGA's star brand ambassador will raise the auction on the first-ever "Constellation Iris 95", expected to be launched to the market in September 2006. This particular watch uses contrasting satin and polished finishes made of 18-carat Rose Gold. The white mother-of-pearl dial is set with blue, pink and yellow sapphires, mandarin garnets, rubies and emeralds. 38 pieces of diamonds are enhanced the bezel that features the iconic claws of the Constellation family. The auction will be exhibited at Frank's Jewelry & Watch Boutique, Siam Paragon during June 1-15, 2006. All the proceeds will go to UNICEF. The auction winner will be handed in the watch by Ms. Crawford with her personalized autograph at the auction announcement which will take place in the afternoon of Tuesday June 20, 2006 at Frank's Jewelry & Watch Boutique, Siam Paragon."OMEGA is proud to be part of Thai society and has been greatly received by Thai customers. It is OMEGA's social responsibility as a good corporate citizen, we are delighted to confer all of the proceeds from the auction of OMEGA 'Constellation Iris 95' to UNICEF. It is befitting for Cindy to be part of this initiative as she was amongst those who began this foundation" concluded Mr. Urquhart. The OMEGA "Bijoux Collection" is available exclusively at OMEGA Boutique, 1st Fl. Gaysorn .- END -The prestige watch manufacturer OMEGA has a history that spans over 150 years. This includes pioneering experience in the many fields of watchmaking: from precision, competitions, sports timekeeping, design awards to watches for professional use in space or underwater.Over the years, OMEGA developed considerable expertise in jewellery making, having won several Oscars of the Diamonds International Award with its first ever jewellery collections in the 1960s, as well as seven Golden Rose of Baden-Baden awards for its jewellery in the 1970s and the city of Geneva Prize in 1975. After a hiatus of several years, OMEGA returned to the world of jewellery making in 2002.

Movado Group, Inc. said its net sales for the third quarter increased 8.3 percent to $180.2 million. Same-store sales grew 8.8 percent at the Movado boutiques for the period ended Oct. 31, versus a 0.5 percent gain achieved during the third quarter of 2006.Gross profit for the quarter was $109.9 million, or 61 percent of sales, compared to $97.9 million, or 58.9 percent of sales latest year. Excluding excess discontinued product sales from the current quarter and year-ago period, adjusted big profit was $109.2 million, or 64.7 percent of sales and $97.9 million, or 63.5 percent of sales, respectively.Operating profit was $28.5 million versus $19.8 million last year. Year-ago operating profit included two unusual items, which resulted in a combined $3.8 million non-cash charge. Excluding these items, year-ago adjusted operating profit was $23.6 million. On a reported basis, net income was $26.5 million, versus net income of $21.9 million in the year-ago period.Adjusting for unusual items recorded in fiscal 2008 and fiscal 2007, third quarter net income increased 23.7 percent to $21.3 million from $17.2 million last year.For the first nine months of the fiscal year, Movado net sales increased 7.8 percent to $421 million. Same-store sales rose 1.1 percent at the company’s Movado boutiques versus a 5 percent gain achieved last year.Gross profit was $254.9 million, or 60.5 percent of sales, compared to $236 million, or 60.4 percent of sales last year. Excluding excess discontinued product sales from the current nine-month period and year-ago period, adjusted gross profit was $254.6 million, or 63.9 percent of sales and $236 million, or 62.4 percent of sales, respectively.Operating profit was $47.6 million versus $37.3 million last year. Year-ago operating profit included the previously mentioned unusual items recorded in the third quarter. Excluding these items, year-ago adjusted operating profit was $41.1 million. On a reported basis, net income was$41.2 million, versus net income of $36.1 million in the year-ago period.Adjusting for unusual items recorded in fiscal 2008 and fiscal 2007, net income for the nine-month period increased 18.9 percent to $35.8 million from $30.1 million last year."Third quarter results were strong as we positioned each of our brands in the marketplace with bold new products, aspirational advertising campaigns, including Movado’s milestone celebration of 60 years of modern design, and fully integrated marketing programs," said said Efraim Grinberg, Movado president and chief executive officer. "We have made great strides in building our international business, which grew 33 percent from last year and represented over 40 percent of wholesale revenue during the third quarter."Movado said it recognizes there is a growing sense of uncertainty surrounding the outlook of the U.S. economy. Results for the full year will reckon on on the strength of the holiday season and retailer replenishment in January.Based on the company’s results for the first nine months of fiscal 2008 and assuming that the U.S. economic environment does not deteriorate, Movado Group said it now projects fiscal 2008 net sales to be approximately $560 million.