Gucci Group N.V. (NYSE: GUC; Amsterdam) announced the signing today of a Euro 1,000,000,000 revolving credit facility, which has been arranged and syndicated by Citibank-Schroder Salomon Smith Barney and Unicredito Italiano SpA.

The facility, which was successfully syndicated among 29 institutional banks, will be used to re-finance the Group's existing debt and multi-currency facility as well as for general corporate purposes.

The facility is structured in two tranches of Euro 333.337 million (364 day renewable for one year) and Euro 666.663 million (5 year), both being multi-currency revolving facilities.

Gucci Group N.V. is one of the world's leading multi-brand luxury goods companies. Through the Gucci, Yves Saint Laurent, Sergio Rossi and Boucheron brands it designs, produces and distributes high-quality personal luxury goods, including ready to wear, handbags, luggage, small leather goods, shoes, timepieces, jewelry, ties and scarves, eyewear, perfume, cosmetics and skincare products. The Group directly operates stores in major markets throughout the world and wholesales products through franchise stores, duty free boutiques and leading department and specialty stores. The shares of Gucci Group N.V. are listed on the New York Stock Exchange and on the Amsterdam Stock Exchange.

Under the safe harbor provisions to the U.S. Private Securities Litigation Reform Act of 1995, the Company cautions investors that any forward-looking statements of projections made by the Company, including those made in this document, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Factors that may affect the Company's operations are discussed in the Company's Annual Report on Form 20-F for 1998, as amended, filed with the U.S. Securities and Exchange Commission.