Significant events after December 31, 2008

On January 20, 2009 Bencom S.r.l. acquired 100% of My Market S.r.l., a company which manages 41 stores, primarily in Tuscany and Liguria, which sell products of the Benetton Group. My Market S.r.l. controls all of Benver S.r.l., the owner of another 4 stores.

At the same time that Bencom S.r.l. acquired this interest, My Market S.r.l. and Benver S.r.l. entered an arrangement with third parties to lease the entire business comprising the 45 stores owned by the two companies.

The process of winding up Benetton Deutschland GmbH, a German registered company, and Estate Odessa L.L.C., a Ukrainian registered company, was completed on January 23 and February 19, 2009 respectively.

At the end of January, the subsidiary Olimpias S.p.A. informed workers at the factory in Piobesi Torinese of its decision to cease manufacturing activities and to dispose of the production unit as a result. The cost of this closure is estimated at around Euro 2.5 million. As regards the disposal of this industrial complex, the proceeds are expected to be at least equal to its residual book value.