THE BVLGARI GROUP Fiscal Year 2002 Q3 and 9 months Results November 14th 2002

YoYQ Q DELTA Q3 02/Q3 01 REVENUES % GROSS PROFIT % EBIT % NET PROFIT % FINANCIAL RESULTS – Q M.EURO

YoY9m 20029m 2001DELTA 9M 02/ 9M 01 REVENUES % GROSS PROFIT % EBIT % NET PROFIT % FINANCIAL RESULTS - 9m 2002 M.EURO

REVENUE % GROWTH – Q BY PRODUCT LINE YoYQ3 2002Q JEWELS WATCHES PERFUMES ACCESSORIES ROYALTIES and other-25+22

REVENUE % GROWTH - 9m 2002 BY PRODUCT LINE YoY9m 20029m 2001 JEWELS WATCHES PERFUMES ACCESSORIES-1+61 ROYALTIES and other-13+32

REVENUE % GROWTH - Q BY GEOGRAPHICAL AREA YoYQ3 2002Q ITALY EUROPE AMERICAS-1-28 JAPAN -4+5 FAR EAST-3+20 M. EAST-OTHER+74+32

REVENUE % GROWTH - 9m 2002 BY GEOGRAPHICAL AREA YoY9m 20029m 2001 ITALY-3+41 EUROPE-3+37 AMERICAS-10-8 JAPAN -2+9 FAR EAST M. EAST-OTHER+26+63

ADVERTISING AND PROMOTION - 9m 2002 INVESTEMENTS IN M.EURO AND AS A % ON REVENUES 9.6% 10.2%11.1%13.6% 12.6% 12.2% 13.4% 11.4% 12.4% 9.4%

EVOLUTION OF TOTAL REVENUES vs. TOTAL OPERAT.EXPENSES

BALANCE SHEET HIGHLIGHTS - 9M 2002 M.EURO GROUP GEARING 59%73% 49%

CAPITAL EXPENDITURE - 9M 2002 M.EURO M.EURO9M 20029m 2001 TANGIBLE INTANGIBLE TOTAL

INVENTORY DYNAMICS M.EURO - QUARTERLY FIGURES FROM 30 JUNE 2000 TO 30 SEP 2002

QUESTIONS & ANSWERS A selection of creative editorial photos featuring Bvlgari jewels, watches, fragrances and stores is available in a separate presentation downloadable from the web site at the address