• Annual Report 2005
• Financial Highlights
• Letter to Unitholders
• Brand Review
• Corporate Social Responsability
• Corporate Governance Report
• Financial Review
• Consolidated Financial Statements
• Company Financial Statements
• Balance Sheet I
• Notes to the Financial Statements I
• Board of Directors 1
• Report of the Statutory Auditors 1
• Introduction 2
• Income statement 2
• Balance Sheet 2
• Notes to the Financial Statements 2
• Board of Directors 2
• Report of the Statutory Auditors 2
• Five Year Record
• Statutory Information
• Notice of meeting

Board of Directors 1

Proposal of the Board of directors for the
appropriation of retained earnings at 31 March 2005

Proposed appropriation

The proposed dividend payable to Richemont unitholders will be € 0.04 per Richemont unit. This is equivalent to € 0.04 per 'A' bearer share in the Company and € 0.004 per 'B' registered share in the Company. It will be payable to Richemont unitholders on 19 September 2005 in respect of coupon number 5, free of charges but subject to Swiss withholding tax at 35 per cent, at the banks designated as paying agents.

The Swiss franc equivalent to be charged to retained earnings will be calculated at the euro/Swiss franc exchange rate prevailing at the date of the shareholders meeting at which the dividend is approved. The available retained earnings remaining after deduction of the dividend amount will be carried forward to the following business year.

The Board of Directors
8 June 2005