Luxottica to Acquire D.O.C Optics

Leonardo Del Vecchio, chairman of Luxottica Group, commented: 'Our North American retail business is today on track to deliver strong results for 2006, yet we believe that there continue to be opportunities for significant additional growth in that market. The D.O.C Optics transaction represents another key step in our long-stated strategy to maximize growth opportunities for our optical retail brands, including LensCrafters and Pearle Vision.'

D.O.C Optics stores operate in Michigan, Ohio, Missouri, Wisconsin, Florida and Illinois with a majority of its retail locations in and around the Detroit metropolitan area. D.O.C Optics is projected to post system revenues for fiscal year 2006 in excess of U.S. $100 million.

In its statement, the company said, 'Luxottica Group has long admired the D.O.C Optics business, founded by Dr. Donald Golden in 1946. With the Golden family, the Group shares a commitment to quality, innovation and customer service. D.O.C Optics is deeply rooted in the community, with a brand image, customer profile and existing focus on fashion already aligned with those of the Group's retail operations in the region. This makes the combination of D.O.C Optics and Luxottica Group's existing retail operations an excellent fit for expanding the Group's presence in the Midwest.'

In connection with this asset transaction, Luxottica Group expects the total purchase price, net of expected tax benefits, to approximate U.S. $90 million. The closing of the transaction is expected to occur during the first quarter of 2007, subject to customary closing conditions and U.S. regulatory approvals.

The Group will discuss this transaction on its regularly-scheduled quarterly investor conference call scheduled for Monday, Nov. 6 and available via webcast through the investor relations section of Luxottica Group's Web site at www.luxottica.com.

Luxottica Group operates nearly 5,700 optical and sun retail stores in North America, Asia-Pacific, China and Europe and has a strong brand portfolio.

For fiscal year 2005, Luxottica Group (NYSE: LUX; MTA: LUX) posted consolidated net sales of 4.4 billion Euros.