Cole National's stockholders approve merger with Luxottica

Luxottica Group today announced that yesterday stockholders of Cole National Corporation approved the merger agreement between Luxottica Group and Cole National for a cash purchase price of US$ 27.50 per share, plus interest at the rate of 4 percent per annum from yesterday through the closing date of the merger.

Votes cast in favor of the transaction were approximately 99.5 percent of Cole National's shares voting on the proposal, representing approximately 78 percent of the company's outstanding shares.

As previously announced, the transaction remains subject to compliance with applicable U.S. antitrust clearance requirements and the satisfaction of other customary conditions. With respect to this, Luxottica Group and Cole National committed to the Ftc not to close the transaction before September 30, 2004, without its consent.