11 April 2001

Richemont, the Swiss luxury goods group, is pleased to announce that it has acquired a further 20 per cent interest in Van Cleef & Arpels, one of the world's most renowned jewellery houses, from minority shareholders. The acquisition increases Richemont's interest in Van Cleef & Arpels to 80 per cent, the initial 60 per cent holding having been acquired in May 1999.

In addition to its interest in Van Cleef & Arpels, Richemont owns a portfolio of leading luxury goods houses, including Cartier, Montblanc, Lancel and Alfred Dunhill together with the prestigious watch manufacturers Jaeger-LeCoultre, Piaget, Baume & Mercier, IWC, Vacheron Constantin, A Lange & Söhne and Officine Panerai.

Further inquiries:
Mr J du Plessis
Finance Director

Telephone: + 41 41 710 3322
Fax: + 41 41 711 7138

www.richemont.com