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Swatch Group Sales 2003 – Strong 2nd half 2003

• Group sales in the 2nd half of 2003 up +4.21 % in local currencies and +2.27 % higher in Swiss francs than in the same period last year

• 2003 sales growth in local currencies up +1.55 % overall against 2002; after adjustment for currency influences amounting to CHF 143 million (-3.52 %) decline by -1.97 %

• Substantial increase in market share for all watch categories

• Unit sales growth +6.27 % (watches, movements, stepping motors)

• Positive sales outlook for 2004

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Swatch Group Sales 2003 – Strong 2nd half 2003