Notice of Contribution in Kind by Luxottica Group's Subsidiary Luxottica S.r.l.

(NYSE: LUX) (MTA: LUX) today announced that, pursuant to article 71 - bis of Consob Regulation n. 11971 of May 14, 1999, certain assets, liabilities and connected legal relationships forming a going concern of the business currently run in Italy by Luxottica S.r.

l., a wholly-owned subsidiary of Luxottica Group engaged in the marketing and distribution of eyewear, have been transferred by way of contribution in kind as of May 1, 2007, to Luxottica Italia S.r.

l., (formerly I.C.

Optics S.r.l.

), a wholly-owned subsidiary of Luxottica S.r.l.

.
Such contribution in kind is a transaction between related parties -- which however does not involve any specific risk of potential conflict of interests -- that is part of a broader project for the reorganization and rationalization of the activities of Luxottica S.r.

l. already announced on March 27, 2007.
The contribution above paid up a capital increase of Luxottica Italia S.

r.l. determined on the basis of the financial statements as of December 31, 2006 and the expert report, drawn up pursuant to art.

2465 of the Italian civil code. Said report states that the value of the going concern transferred to Luxottica Italia S.r.

l. is at least equal to the value of the capital increase resolved by Luxottica Italia S.r.

l. -- equal to Euro 2,000,000.00 -- and of the relevant share premium -- equal to Euro 9,330,438.

00.
It should be noted that no changes in the remuneration of any of the directors of Luxottica Group S.p.

A. and/or of its subsidiaries resulted from the above-described transaction and that none of the directors, statutory auditors, general managers and/or manager of any company of the group directed by Luxottica Group S.p.

A. is involved in such transaction as related parties.