Cole National is now a wholly-owned subsidiary of Luxottica Group

Luxottica Group and Cole National Corporation announced the completion on October 4, 2004, of Luxottica Group's acquisition of Cole National.

As a result, Cole National's shares have been delisted from the New York Stock Exchange and will no longer be publicly traded. Cole National is now a wholly-owned subsidiary of Luxottica Group.

In accordance with the terms of the January 2004 Luxottica Group - Cole National Merger Agreement, as amended, Cole National's outstanding shares of common stock have been converted into the right to receive US$ 27.72 per share, in cash.

As previously announced, Citibank, NA has been appointed as the paying agent for Luxottica Group and it will promptly mail to Cole National stockholders of record transmittal materials and instructions for the submission of Cole National shares for payment of the merger price.