Luxottica ups cash dividend for fiscal year 2005 by 26%

Luxottica Group yesterday announced that shareholders at the Company's Annual General Meeting approved the payment of a cash dividend for fiscal year 2005 of € 0.29 per ordinary share and per American Depositary Share (ADS) (one ADS represents one ordinary share), representing a 26 percent year-over-year increase. For fiscal year 2004, shareholders approved the payment of a cash dividend of € 0.23 per ordinary share and ADS.

At the Meeting, shareholders also approved:
- the Group's statutory financial statement and Ifrs consolidated financial statements for fiscal year 2005, in accordance with Italian law;
- the increase in the number of Directors to serve on the Board to 14;
- the appointment of the Board of Directors and the Board of Statutory Auditors for the three-year term through the fiscal year to end December 31, 2008;
- the appointment of Deloitte & Touche as the Group's independent auditors for the fiscal years 2006 through 2011;
- a capital increase in an amount up to a maximum nominal value of € 1.2 million to be reserved for grants under the 2006 Stock Options Plan to employees of the Group and its subsidiaries for terms up to nine years.

Shareholders approved the appointment of Luxottica Group's Board of Directors as follows: Leonardo Del Vecchio, Luigi Francavilla , Andrea Guerra, Roger Abravanel, Tancredi Bianchi, Mario Cattaneo, Enrico Cavatorta, Roberto Chemello, Claudio Costamagna, Claudio Del Vecchio, Sergio Erede, Sabina Grossi, Gianni Mion and Lucio Rondelli. Shareholders also approved the appointment of the Group's Board of Statutory Auditors as follows: Marco Reboa (chairman), Giorgio Silva, and Enrico Cervellera.

Further, at a meeting held immediately following the Annual General Meeting of Shareholders the newly appointed Board confirmed Mr. Del Vecchio as chairman, Mr. Francavilla as vice chairman and Mr. Guerra as chief executive officer. Additionally, the Board appointed the Internal Control and Human Resources committees.

Regarding the cash dividend, it will be paid to holders of record of ordinary shares as of June 16, and to holders of record of American Depositary Receipts (ADRs) as of June 21. The ex-dividend date for both holders of ordinary shares and ADRs will be June 19, 2006. Luxottica Group will make the dividend payable in Euro to holders of ordinary shares on June 22, 2006. Deutsche Bank Trust Company Americas, the depositary bank of Luxottica Group's ordinary shares represented by ADRs, will make the dividend payable in U.S. Dollars to ADR holders on June 29, 2006, at the Euro/U.S. Dollar exchange rate of June 22, 2006.