Hans-Kristian Hoejsgaard Joins Timex Group B.V. as President and Chief Executive Officer

    MIDDLEBURY, CONN., December 6 /CNW/ - Timex Group B.V. announced today
that Hans-Kristian Hoejsgaard has been appointed President and Chief Executive
Officer, effective February 11, 2008. Mr. Hoejsgaard was formerly President
and Chief Executive Officer of Georg Jensen, a leading luxury goods company.

    Mr. Hoejsgaard has extensive international management experience. Prior
to joining Georg Jensen, Mr. Hoejsgaard was President of Paris based Lancaster
Group Worldwide, a division of Coty Inc. Earlier in his career, he was
Managing Director-Asia Pacific, based in Hong Kong, for Guerlain, a division
of LVMH Moet Hennessey Louis Vuitton, and held senior management positions
with Joseph E. Seagram & Sons in Rome, Hong Kong and Bangkok. He holds a B.A.
in Economics and Strategic Planning from Southern Denmark Business School and
has undertaken executive education at Harvard Business School, INSEAD and

    Anette Olsen, Chairman of Timex Group, said, "We are very pleased Mr.
Hoejsgaard will be joining our company, and under his leadership I look
forward to growth and success in all segments of the watch business."

    Mr. Hoejsgaard said, "It is indeed a pleasure and a privilege to have
been entrusted with leading one of the world's largest watch companies, built
on strong global brands and leading technologies. I look forward to working
with the shareholders and the people at Timex Group to continue their success
and to take the company forward."

    Timex Group is one of the top watch companies in the world, and possibly
the largest by unit volume. Its revenues are approximately US $700 million,
with over 6,000 employees. Timex was founded in 1854, and has been designing,
manufacturing and selling innovative timepieces for more than 150 years. Timex
Group companies manufacture and sell watches under numerous brands in many
different market segments, including Timex, TX, Timex Ironman, Timex
Expedition, Valentino, Salvatore Ferragamo, Vincent Berard, Versace, Versus,
Guess, Guess Collection, Marc Ecko and Nautica.

For further information:

For further information: Kaplow Chaim Haas, 212-221-1713
chaas@kaplowpr.com or Amelia Alonso, 212-221-1713 aalonso@kaplowpr.com

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