Outlook for 2010

Outlook for 2010

Dear Shareholders,

2009 was an important year - one of the most challenging in the history of our Company - from which Luxottica emerged stronger thanks to the effectiveness of our integrated business model. We achieved positive financial and operating results.

In particular, Luxottica managed to increase its penetration in all major markets during the course of the year despite a contraction in its target markets. This was achieved by implementing actions to stimulate sales and by the strength of two powerful brands, Ray-Ban and Oakley, as well as the diversified geographical presence of the Group and its solid financial condition.

During the course of 2009, our Group once again attained excellent results: sales totaled Euro 5.1 billion, essentially the same level as the previous year when we achieved the best results in our history.

The Euro 315 million of net income, attained in a difficult period, represent a positive result which we are pleased to share with all of you by means of a dividend equal to Euro 0.35 per share, a 59% increase compared to the previous year.

This result is due to the strength of our business model based on the combination between an efficient production system, a world-class brand portfolio, a widespread wholesale distribution network and more than 6,200 stores across the world. All of these elements - together with a constant focus on our financial condition - provide the best conditions for growth in 2010, in terms of revenues and - more than proportionally - profitability and net income.

2009 was a challenging year but we are convinced that we have made our Company even more solid and efficient in addition to laying the foundation for the long-term growth of Luxottica.

The year which just passed was also very important for our OneSight Foundation, which - during the course of a clinic in Australia in 2009 - achieved the important milestone of helping 7 million people over 20 years of service across the world.

OneSight is an initiative of which we are particularly proud and with which we identify. We applaud the efforts put forth by Luxottica volunteers - the recovery of eyewear, participation in clinics which distribute eyewear free of charge, the prevention of eyesight diseases and support for research - which contribute to visual health and the quality of life of individuals around the world, both of which are priority objectives for Luxottica.

April 2010

Del Vecchio