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Richemont Board appointment

Richemont, the Swiss luxury goods group, today announced the appointment of Henry-John Belmont as Chief Executive of Richemont's specialist Watch Division (which consists of Jaeger-LeCoultre, Piaget, Baume & Mercier, IWC, Vacheron Constantin, A. Lange & Söhne and Officine Panerai) and, as such, a Director of Richemont Société Anonyme, the Group's Management Board. This appointment was necessitated by the tragic death of Mr Günther Blümlein some weeks ago. Mr Belmont is currently Chief Executive of Jaeger-LeCoultre and was a long time colleague of Mr Blümlein at Les Manufactures Horlogères SA, prior to the acquisition of that company by Richemont last year.

Franco Cologni will continue as Executive Chairman of both Cartier and Richemont's specialist Watch Division.

Further inquiries:
Mr Alan Grieve
Company Secretary

Compagnie Financière Richemont AG
Rigistrasse 2
6300 Zug

Telephone: + 41 41 710 33 22
Telefax: + 41 41 711 71 38