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Report of the Statutory Auditors

Report of the statutory auditors to the general meeting of Compagnie Financière Richemont SA, Geneva

As statutory auditors, we have audited the accounting records and the financial statements, presented on pages 112 to 115, consisting of the balance sheet, income statement and notes of Compagnie Financière Richemont SA for the year ended 31 March 2006.

These financial statements are the responsibility of the Board of Directors. Our responsibility is to express an opinion on these financial statements based on our audit. We confirm that we meet the legal requirements concerning professional qualification and independence.

Our audit was conducted in accordance with Swiss Auditing Standards, which require that an audit be planned and performed to obtain reasonable assurance about whether the financial statements are free from material misstatement. We have examined, on a test basis, evidence supporting the amounts and disclosures in the financial statements.

We have also assessed the accounting principles used, significant estimates made and the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the accounting records and financial statements and the proposed appropriation of available earnings comply with Swiss law and the Company’s articles of incorporation.

We recommend that the financial statements submitted to you be approved.

PricewaterhouseCoopers SA

P Tzaud A Bainton
Geneva, 7 June 2006