Pinault-Printemps-Redoute SA - Gucci Group N.V.

Pursuant to Article 102.3a) of Legislative Decree 58/1998, Consob has ordered the precautionary suspension for 90 days of the public offer for ordinary shares of Gucci Group N.V., promoted by Pinault-Printemps-Redoute SA (Resolution 14529 of 28 April 2004).

The measure was adopted after it emerged that the offer (at a price equal to USD 85.52 per share) was being communicated to Italian custodians via the Clearstream central securities depository. The Gucci Group shares are listed on the Euronext market in Amsterdam, Common Code 017759086 ISIN Code NL0000359552, Security Code 35955, and on the New York Stock Exchange, CUSIP N. 401566104, ISIN Code US4015661048.

The information gathered indicated that there was a well-founded suspicion that the operation was being carried out in violation of the applicable law. In particular, it appeared to constitute a tender offer as defined in Article 1.1v) of the Consolidated Law on Finance. Furthermore, Consob has no record of having received either notice of such a public offer or a copy of the information document to be published, as required by Article 102.1 of the same Law.

(In Consob Informa n. 18/2004 - 3 May 2004)