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Antonio Belloni Named Chief Operating Officer of LVMH

April 17, 2001

LVMH Moet Hennessy Louis Vuitton appointed Antonio Belloni as chief operating officer, responsible for overseeing the group's day-to-day business operations, effective as of the beginning of June. He was previously president of Procter & Gamble's European operations. In this newly created position he will report to Myron Ullman, group managing director.

LVMH also announced the appointment of Philippe Pascal as president of the watch & jewelry group and that of Christophe Navarre as president of the wines & spirits group. In addition, Jean-Marie Laborde, president of Moet & Chandon, is being given the additional responsibility of overseeing the Chandon Estates company within the wines & spirits gGroup.

Mr. Belloni, a 46 year old Italian native, is a 22-year veteran of Procter & Gamble. He was president of P&G's European division from 1999 and previously served as managing director for the company's Italian operations. He began his career at P&G in Italy in 1978 and subsequently held a number of different positions in Switzerland, Greece, Belgium and the U.S.

Commenting on this appointment, Myron Ullman said, "As LVMH continues to grow and expand its position as the global leader in luxury products, broadening our senior management team has become one of our top priorities. As an Italian native who has spent his professional career working for a U.S.-based global company with assignments throughout Europe, Toni Belloni is particularly well qualified for his new role at LVMH. His multi-cultural marketing expertise and innovative approach will be of tremendous value to LVMH's Executive Committee as we continue aggressively to pursue our strategic objectives. Bernard Arnault and I look forward to working closely with him in overseeing the group's business activities."
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