Milan, Italy - October 30, 2007 – The Board of Directors of Luxottica Group S.p.A. (NYSE:
LUX; MTA: LUX) a global leader in the design, manufacturing and distribution of premium
fashion and luxury eyewear, convened today in Milan by chairman Leonardo Del Vecchio,
approved results for the three- and nine-month periods ended September 30, 20071.
Financial highlights for the periods in accordance with U.S. GAAP were as follows:
 

Third quarter of 2007¹

• Consolidated sales: €1,151 million (+2.7%; +8.1% excluding the effect of exchange
rates)
- Retail sales: €838 million (+0.0%; +6.4% excluding the effect of exchange rates); Retail
comparable store sales²: +2.9%
- Wholesale sales: €395 million (+9.8%; +12.8% excluding the effect of exchange rates)
• Consolidated operating income: €195 million (+4.6%); Operating margin: 16.9%
- Retail operating income: €98 million (-13.1%); Retail operating margin: 11.7%
- Wholesale operating income: €102 million (+16.2%); Wholesale operating margin: 25.9%
• Consolidated net income from continuing operations: €112 million (+5.0%); Net
margin: 9.8%
• Earnings per share: €0.25 (US$0.34 per ADS)

First nine months of 2007¹

• Consolidated sales: €3,778 million (+5.9%; +11.4% excluding the effect of exchange
rates)
- Retail sales: €2,520 million (-0.2%; +6.5% excluding the effect of exchange rates);
Retail comparable store sales²: +2.0%
- Wholesale sales: €1,514 million (+16.4%; +19.7% excluding the effect of exchange rates)
• Consolidated operating income: €682 million (+15.3%)³; Operating margin: 18.0%
- Retail operating income: €303 million (-12.3%); Retail operating margin: 12.0%
- Wholesale operating income: €418 million (+22.4%); Wholesale operating margin: 27.6%
• Consolidated net income from continuing operations: €395 million (+19.8%)³; Net
margin: 10.5%
• Earnings per share³: €0.87 (US$1.17 per ADS)

Andrea Guerra, chief executive officer of Luxottica Group, commented: “Results for the
first nine months of the year reflected steady growth, thus further confirming our forecast
for the full year, which we raised in July.

“For the nine-month period we enjoyed double-digit growth in consolidated revenues at
constant exchange rates, a 18 percent operating margin and a rise in consolidated earnings
per American Depositary Receipts (EPADS) of 29 percent. This occurred despite a 7.5
percent weakening of the U.S. Dollar against the Euro during the period and a slow-down in
the U.S. economy.

“During this quarter we again focused both on the future and on the execution of our
current plans. Over the past twelve months, between acquisitions, new openings,
rebrandings and an overall rationalization of the store base, we touched approximately one
fourth of our nearly 6000 stores worldwide. We also launched ILORI, our new luxury sun
retail brand in North America, which is already being referred to as the destination store
for luxury in sun eyewear.

“Our premium North American brands in the retail business confirmed a trend of growth in
sales and profitability. Our sun business in that market performed particularly well, with
comparable store sales for the past three years rising by 44 percent. We expect that 2008
will be the year that we reap the fruits of the significant efforts and investments made
during this past year in our retail business.

“At the same time, our wholesale business posted another quarter of growth - the tenth
quarter in a row – with a double-digit increase in revenues and a rise in profitability to 26
percent, attributable to a strengthened brand portfolio and the ongoing strengthening of
our sales and distribution structures.

“These results,” concluded Mr. Guerra, “allow us to confirm our forecast for another
positive year of growth for our Group.”

Consolidated sales for the quarter rose by 8.1 percent at constant exchange rates. Year-todate,
the Retail Division added 221 more stores.

Wholesale sales to third parties for the quarter rose year-over-year by 10.9 percent (13.1%
at constant exchange rates). The recently launched 2008 collections enjoyed an excellent
reception, and Ray-Ban experienced another record quarter across all regions. In
December, the first Tiffany eyewear collection will be launched. Total wholesale sales in
emerging markets for the quarter rose nicely year-over-year and now represent 14 percent
of wholesale sales to third parties. It should be noted that the Wholesale Division posted a
very positive quarter despite the fact that sales in many European countries were affected
by poor weather conditions during the summer season.

Luxottica Group’s consolidated net outstanding debt on September 30, 2007 was €1,320.2
million. On the same date, the Group’s net debt to EBITDA ratio moved to 1.22x, from
1.41x on September 30, 2006. Additionally, the Group generated €149 million in free cash
flow for the quarter before dividends, acquisitions and the impact of exchange rates,
reflecting the strength of its business model and ability to generate strong cash flow levels.

Other developments: Oakley acquisition

Oakley has announced that it will hold a special meeting of its shareholders on November
7, 2007 to vote on the proposal to approve the merger with Luxottica Group. Other than
customary closing conditions, the approval of the shareholders of Oakley and anti-trust
clearance from the South African regulatory authority are the last remaining key conditions
to closing the transaction. The Group currently expects to complete the merger in mid-
November.

- END -
 

In accordance with Section 2, art. 154 bis of Legislative Decree n. 58/1998 of the Italian Law, Enrico
Cavatorta, Luxottica Group’s chief financial officer, confirms that the financial data included in this
press release correspond to those included in the Company's accounting records.

Luxottica Group S.p.A.

Luxottica Group is a global leader in high-end and luxury eyewear, with over 5,900 optical
and sun retail stores in North America, Asia-Pacific, China and Europe and a strong brand
portfolio. House brands include Ray-Ban, the most recognized sun brand in the world,
Vogue, Persol, Arnette and REVO, while license brands include, among others, Bvlgari,
Burberry, Chanel, Dolce & Gabbana, Donna Karan, Polo Ralph Lauren, Prada and Versace.
In addition to a global wholesale network that touches 130 countries, the Group manages
leading retail brands such as LensCrafters and Pearle Vision in North America, OPSM and
Laubman & Pank in Asia-Pacific, and Sunglass Hut globally. The Group’s products are
designed and manufactured in six Italy-based manufacturing plants and in two China-based
wholly-owned plants. For fiscal year 2006, Luxottica Group (NYSE: LUX; MTA: LUX) posted
consolidated net sales of €4.7 billion. Additional information on the Group is available at
www.luxottica.com.

Safe Harbor Statement

Certain statements in this press release may constitute “forward-looking statements” as
defined in the Private Securities Litigation Reform Act of 1995. Such statements involve
risks, uncertainties and other factors that could cause actual results to differ materially
from those which are anticipated. Such risks and uncertainties include, but are not limited
to, the risk that the merger with Oakley will not be completed, the ability to successfully
introduce and market new products, the ability to maintain an efficient distribution
network, the ability to predict future economic conditions and changes in consumer
preferences, the ability to achieve and manage growth, the ability to negotiate and
maintain favorable license arrangements, the availability of correction alternatives to
prescription eyeglasses, fluctuations in exchange rates, the ability to effectively integrate
recently acquired businesses, as well as other political, economic and technological factors
and other risks and uncertainties described in our filings with the U.S. Securities and
Exchange Commission. These forward-looking statements are made as of the date hereof,
and we do not assume any obligation to update them.

Luxottica Group S.p.A. media and investor relations contacts

Media Relations:

Carlo Fornaro, Group Corporate Communications Director
Tel.:  +39 (02) 8633 4062 
Email: MediaRelations@luxottica.com

Luca Biondolillo, Head of International Communications
Tel.:  +39 (02) 8633 4668 
Email: LucaBiondolillo@Luxottica.com

Investor Relations:
Alessandra Senici, Group Investor Relations Director
Tel.:  +39 (02) 8633 4069 
Email: Investorrelations@Luxottica.com

- TABLES TO FOLLOW –

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¹ All comparisons, including percentage changes, are between the three- and nine-month periods
ended September 30, 2007 and 2006.
² Comparable store sales reflects the change in sales from one period to another that, for
comparison purposes, includes in the calculation only stores open in the more recent period that
also were open during the comparable prior period, and applies to both periods the average
exchange rate for the prior period and the same geographic area.
³ Includes a non-recurring gain related to the sale of a real estate property in Milan, Italy in May
2007. The impact of the sale was a gain of approx. €20 million before taxes or approx. €13 million
after taxes (equivalent to EPS of €0.03).