Luxottica Group, S.p.A. (LUX)

Proposed dividend for fiscal year 2005 and other Board resolutions

The Board of Directors today also scheduled the Company’s Ordinary and Extraordinary Shareholders’ Meetings for June 14, 2006, on first call, and for June 15, 2006, on second call.

At the Ordinary Meeting, the Board of Directors has approved Luxottica Group’s International  Financial Reporting Standards (IFRS) financial statements for fiscal year 2005(4) and will propose  to shareholders a 26 percent increase in the cash dividend to be paid for fiscal year 2005 to  €0.29 per ordinary share and per American Depositary Share (ADS) (one ADS represents one  ordinary share). For fiscal year 2004, shareholders approved the payment of a cash dividend of  €0.23 per ordinary shares and ADS.

The proposed cash dividend will be paid to holders of record of ordinary shares as of June 16,  and to holders of record of 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 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. Information regarding the tax regime applicable to the payment of Luxottica  Group dividends will shortly be available from the Group’s corporate website at  www.luxottica.com.

At the Meeting, the Board of Directors will submit to shareholders for approval the increase of  the maximum number of directors to 15, from the current 12 to allow for the appointment of  Claudio Costamagna, formerly chairman of the investment banking division of Goldman Sachs for  Europe, Middle East and Africa (EMEA), and Roger Abravanel, director of the Italian practice of  consulting firm McKinsey & Co., increasing the number of independent directors of the Board to 6.

At the Ordinary Meeting, the Board of Directors will submit to shareholders for approval, in  accordance with Italian law, the Group’s IFRS statutory financial statements for fiscal year 2005.  Luxottica Group’s communications to the financial community are and will continue to be made

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