27 June 2000

Richemont, the Swiss luxury goods group, today announced that it has acquired the Stern Group from Orior Holding S.A.

Stern Créations S.A. in Geneva, together with its subsidiaries, Stern Manufacture and Stern Appliques in La Chaux-de-Fonds, in the Jura region of Switzerland, as well as a small French subsidiary, is one of the leaders in the manufacturing of luxury watch dials.

Since the creation of Stern Frères, in 1898, the Stern Group has become one of the essential suppliers of watch components and has among its clients some of the world's most prestigious watch brands. Its vast range of products includes lacquered, precious metal and jewellery dials.

Richemont has expressed the wish for Stern to continue to create and supply dials to the Swiss luxury watch industry. Stern will retain a high level of autonomy within the Richemont Group to enable it to strengthen its partnerships with all its clients.