THE BVLGARI GROUP .


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THE BVLGARI GROUP . Fiscal Year 2004 Third Quarter a nd 9 Month Results November 12th 2004. When printing the presentation please choose “Pure B/W” option. FINANCIAL HIGHLIGHTS Q3 2004 and 9 MONTHS 2004. FINANCIAL HIGHLIGHTS Q3 2004 and 9 MONTHS 2004.
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Slide 1

THE BVLGARI GROUP Fiscal Year 2004 Third Quarter a nd 9 Month Results November twelfth 2004 When printing the presentation please pick "Immaculate B/W" alternative

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FINANCIAL HIGHLIGHTS Q3 2004 and 9 MONTHS 2004

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FINANCIAL HIGHLIGHTS Q3 2004 and 9 MONTHS 2004

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REVENUES – Q3 2004 DETAILS BY PRODUCT LINE

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REVENUES – JAN/SEP 2004 DETAILS BY PRODUCT LINE

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REVENUES – Q3 2004 DETAILS BY GEOGRAPHICAL AREA

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REVENUES – JAN/SEP 2004 DETAILS BY GEOGRAPHICAL AREA

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ADVERTISING AND PROMOTION INVESTMENTS IN M.EURO AND AS A % ON REVENUES +35% On tot.revenues 8.5% 10.4%

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ADVERTISING AND PROMOTION INVESTMENTS IN M.EURO AND AS A % ON REVENUES +29% 9.9% 10.6% 9.7% 11.5%

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NET WORKING CAPITAL * Excluding different payables and different receivables

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BALANCE SHEET HIGHLIGHTS M.EURO GEARING 49% 29% 15%

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BVLGARI 2004 – PRODUCT LAUNCHES RECAP UNDERLINED : H2 2004 LAUNCHES

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QUESTIONS & ANSWERS FOR MORE QUALITATIVE INFORMATION ON THE MOST RECENT PRODUCT LAUNCHES AND EVENTS PLEASE SEE THE DEDICATED VIDEOS AND MINIWEBSITES ON http://www.bulgari.com When printing the presentation please pick "Unadulterated B/W" choice

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Disclaimer This archive is for institutional speculators just and is not accessible to private clients. This record is being provided to a set number of beneficiaries and it may not be circulated, distributed or repr o duced in entire or to some degree or unveiled by beneficiaries to whatever other individual. By no means should this report constitute an offer to offer, a welcome to gain or the requesting of an offer to purchase securities in any locale. Every speculator mulling over obtaining securities issued by Bulgari SpA or any of its subsidi a ries ought to make its own free examination of the budgetary condition and issues, and its own particular evaluation of the reliability, Bulgari SpA or any of its backups and ought to deliberately consider the high dangers required in buying these securities. This report contains certains forward looking articulations and key money related objectives which mirror administration\'s present perspectives, appraisals, and destinations. The forward looking explanations and key money related objectives include certain dangers and instabilities that could bring about genuine results to contrast tangibly from those contained in the forward looking proclamations and key monetary objectives. Potential dangers and vulnerabilities incorporate, in addition to other things, interior, industry and outer variables, for example, general monetary conditions

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