Swatch Group: Key Figures 2003

• Group result 2003 of CHF 492 million, thanks to marked improvements in the 2nd half of 2003 – virtually the same as in the previous year
• Continued strengthening of the Group’s financial basis through a high free cash flow in the year
• Over 31 % dividend increase
• Resumption of the share buy-back program
• 2004 confirms the positive trend of the second half of 2003