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VALENTINO and PUIG Partners for WW luxury fine fragrances 15th January 2010 VALENTINO S.p.A and PUIG are pleased to announce a multi-year worldwide license agreement involving creation, development and distribution of luxury fine fragrances under the VALENTINO brand. The agreement will be effective from 1st February 2011, marking the beginning of a long-term partnership between the two global players in the fragrance business. Stefano Sassi – Chairman and CEO of VALENTINO S.p.A – states: “With this agreement, our Maison further asserts its strength in closing powerful partnerships in the licensing field. We chose to work with PUIG for its great experience in luxury market and high commitment to quality. These quintessential aspects are important to fully understand our brand DNA along with sharing our long-term objectives. We consider PUIG the ideal partner capable of supporting us in achieving our expansion goals in business terms and, above all, in brand awareness. We are enthusiastically beginning what we expect will be a long-term successful relationship in this category”. Maria Grazia Chiuri and Pier Paolo Piccioli – Creative Directors for VALENTINO – add: “Fragrance is pure luxury and singular expression of the Valentino woman’s personality. Through the association with PUIG, we are confident that our new vision of a modern, unconventional and unexpected woman who naturally embodies elegance, coolness and modern lifestyle will be effectively communicated. This partnership will surely add value to our ongoing creative mission”. Marc Puig – Chairman and CEO of Puig comments: "At Puig, one of our strengths lies in our ability to translate the image of a brand into the fragrance category. We couldn’t be more excited with the idea of partnering such a great fashion name. The image of Valentino has tremendous potential to be translated in the fragrance arena. We look forward to working with the Valentino team in this endeavor. This association helps us in our idea to focus on fewer yet stronger brands, build those businesses on a long-term basis and continue with our aim of becoming a growing and relevant player in the beauty business." Company Profiles About VALENTINO Valentino S.p.a. is part of the Valentino Fashion Group – one of the world’s biggest fashion and luxury groups, owner of the Hugo Boss and Valentino brands and licensee for the Marlboro Classics and M Missoni brands. The group is now owned by Permira private equity fund and its partners. Established in 1960 by legendary fashion icon Valentino Garavani, the Maison has grown over the years and now operates in more than 70 different countries counting over 1250 points of sale, 66 of which are directly managed. Since October 2008 Maria Grazia Chiuri and Pier Paolo Piccioli have been appointed Valentino Creative Directors. Maria Grazia and Pier Paolo previously worked in close contact with Valentino Garavani for a decade, contributing to the international success of the accessories project. Debuting

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with their first Haute Couture collection in Paris in January 2009, they demonstrated the ability to fully understand and interpret the world of Valentino. Their creativity was well-received right from the start, obtaining unanimous approval in the world of fashion. Maria Grazia Chiuri and Pier Paolo Piccioli’s strong leadership style, their profesional and creative approach - highly characteristic of Valentino’s corporate identity - joined to their extremely talented in-house team of designers, allowed them to make the most of Valentino’s iconic style. One of the best known fashion brands worldwide, Valentino offers a wide range of luxury products from Haute Couture and Prêt-à-Porter to an extensive accessories collection that includes bags, shoes, small leather goods, belts, eyewear and watches. Additional information is available on the web at www.valentino.com. About PUIG Puig is a family company founded in 1914 in Barcelona, Spain. Over the last ten years Puig has enjoyed solid growth as a beauty and fashion company and 2009 turnover will be close to one billion Euros. The company sells its products in more than 100 countries and has direct presence in 22 of them, employing 3,500 people worldwide. The strengths of Puig lie in its ability to build brands through fashion (Puig owns the fashion houses of Carolina Herrera, Nina Ricci and Paco Rabanne) and to translate the image of a brand into the beauty arena, whether through its own brands or through licenses. One of the best-known brands is Prada with whom Puig operates in a Joint Venture which holds the license for Prada’s beauty products. Puig also holds beauty license agreements for other brands such as Comme des Garçons, Adolfo Dominguez, celebrities like Antonio Banderas and Shakira and retail brand names such as Mango, Zara and Massimo Dutti. "At Puig, we are proud of our ability to grow faster than the industry through a strong emphasis on creativity and innovation. This capacity has been demonstrated in our recent past, and remains our aim for the future. We also hold strongly to our belief that people make the difference when given the chance to make things happen. Passion, People, Performance is our motto." Marc Puig, Chairman and CEO Additional information is available on the web at www.puig.com More Information: Paola Sacchi WW Communication DIrector + 39 02 62492449 Marta Sanz Esteve Vice President of Global Communications Fragrances & Corporate + 33 1 4088 6509 www.puig.com