with the procedure set forth by it, the documentation attesting their residence for tax purposes in Italy or in countries which have entered into tax treaties with Italy, pursuant to which reduced/NIL tax rates might become directly applicable. Concurrently with the delivery of the Proxy Statement, the Depositary has mailed to all ADS holders a document and necessary forms setting forth the detailed procedure to be used by ADS holders for the purpose of obtaining the direct application of the reduced/NIL tax rate. All ADS holders that are Italian residents for tax purposes, should deliver by July 5, 2005 to The Bank of New York the documentation, dated before June 23, 2005, attesting the tax regime applicable (Form A to G “Dichiarazione beneficiario dividendo”). Also ADS holders, that are not Italian residents for tax purposes, should deliver by July 5, 2005 to The Bank of New York the documentation, signed before June 23, 2005, attesting their residence for tax purposes in countries which have entered into tax treaties with Italy, pursuant to which reduced tax rates might become directly applicable (Form 8802 for U.S. residents, Form A-4 for residents of other countries “Tax relief form for dividends for non-U.S. resident holders”). As soon as the documentation is delivered by the Bank of New York to UniCredito Italiano, such bank shall endeavor to effect repayment of the entire 27% withheld or the balance between the 27% withheld at the time of payment and the rate actually applicable to the ADS holder as the case maybe. By way of example, Italy and United States (as well as many other countries) are parties to a tax treaty pursuant to which the rate of the tax applicable to dividends paid by an Italian resident company to a U.S. resident entitled to the treaty may be reduced to 15%. Therefore, U.S. resident ADS holders have the opportunity of being repaid a further 12% of the gross dividend, that is the difference between the 27% withheld at the time of payment of the dividend and the 15% substitute tax provided for by the Italy - U.S. tax treaty. In the past many ADS holders have been unable to provide the required certificates within the deadline, because the tax authorities can take two months or more in releasing such documents. Therefore the PROPOSED DIVIDEND AND RELATED TAX REGIME company advises you, should you expect to be a holder of ADSs of record on June 22, 2005 and are interested in implementing the procedure to obtain the application of the reduced substitute tax rate, to start such procedure well in advance by completing the appropriate form (Form A to G for Italian residents, Form 8802 for U.S. residents, Form A-4 for residents of other countries), which needs to be signed, for non-Italian residents only, by the relevant Tax Authority before June 23, 2005. The procedure established by The Bank of New York and UniCredito Italiano contemplates that, once the ADS holder has delivered the proper documentation to The Bank of New York, the latter will make it available to UniCredito Italiano and consequently the additional dividend amount will be payable to the ADS holders. Please note that in order for an ADS holder to take advantage of the accelerated tax refund (Quick Refund), the certification by the respective Tax Authority must be dated before June 23, 2005 (the dividend payable date in Euro) and The Bank of New York should receive the certification on or before July 5, 2005. <strong>Luxottica</strong> <strong>Group</strong> recommends to all ADS holders who are interested in taking advantage of such an opportunity, to request more detailed information as to the exact procedure to be followed from The Bank of New York (ADR Department, telephone +1 (212) 815-2726; fax +1(212) 571-3050, attn. Bob Kellett) or directly from the Company’s headquarters in Italy (Investor Relations Department, telephone +39 (0437) 644256; fax +39 (0437) 63840). ADS holders are further advised that, once the amounts withheld are paid to the Italian Tax Authorities, ADS holders entitled to the reduced tax rate may only apply to the Italian Tax Authorities to receive the reimbursement of the excess tax applied to the dividends received from <strong>Luxottica</strong> <strong>Group</strong>. Such procedure customarily takes years before the reimbursement is actually made. Therefore the above-mentioned procedure, for direct application of the reduced withholding rate was established by <strong>Luxottica</strong> <strong>Group</strong> in the best interest of its shareholders. 77
<strong>ANNUAL</strong> <strong>REPORT</strong> <strong>2004</strong>
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ANNUAL REPORT 2004
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ANNUAL REPORT 2004
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ANNUAL REPORT 2004
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ANNUAL REPORT 2004 PROFILE OF LUXOT
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PROFILE OF LUXOTTICA GROUP QUARTERL
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ANNUAL REPORT 2004
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ANNUAL REPORT 2004
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LUXOTTICA GROUP IN 2004 to have dir
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LUXOTTICA GROUP IN 2004 Luxottica G
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ANNUAL REPORT 2004
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DISTRIBUTION As for the performance
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DISTRIBUTION focused on the relatio
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DISTRIBUTION capacity, a direct pre
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- Page 29 and 30: CHANGE YOUR VIEW
- Page 31 and 32: www.vogue-eyewear.com
- Page 34 and 35: Making its debut in 1926, Persol wa
- Page 36 and 37: Launched in California in 1992, Arn
- Page 38 and 39: The Sferoflex brand was acquired by
- Page 40 and 41: DISTRIBUTION LICENSE BRANDS 39
- Page 42 and 43: The Byblos brand has been licensed
- Page 44 and 45: The Miu Miu brand was created in 19
- Page 46 and 47: Sergio Tacchini, ever synonymous wi
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- Page 50 and 51: DISTRIBUTION Today, Luxottica Group
- Page 52 and 53: VERTICAL INTEGRATION Over the decad
- Page 54 and 55: Over the years, Luxottica Group has
- Page 56 and 57: WHOLESALE BRAND PORTFOLIO Luxottica
- Page 58 and 59: Give the Gift of Sight is a Luxotti
- Page 60 and 61: ANNUAL REPORT 2004
- Page 62 and 63: In accordance with U.S.GAAP (1) 200
- Page 64 and 65: MANAGEMENT’S DISCUSSION AND ANALY
- Page 66 and 67: expenses, thanks to economies of sc
- Page 68 and 69: This information is being provided
- Page 70 and 71: The swap will expire on June 17, 20
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- Page 74 and 75: (1) Except for earnings per share (
- Page 76 and 77: (1) 1 ADS = 1 ordinary share. (2) C
- Page 80 and 81: CORPORATE GOVERNANCE Set out below
- Page 82 and 83: - Sergio Erede - Sabina Grossi: Mem
- Page 84 and 85: INTERNAL AUDIT COMMITTEE The commit
- Page 86 and 87: 3. the Chief Financial Officer, the
- Page 88 and 89: STOCK OPTIONS PLANS At the Extraord
- Page 90 and 91: ANNUAL REPORT 2004 LUXOTTICA GROUP
- Page 92 and 93: (1) Through 1998 the Euro/U.S. Doll
- Page 94 and 95: LUXOTTICA GROUP S.P.A. We have audi
- Page 96 and 97: In accordance with U.S. GAAP (1) Tr
- Page 98 and 99: In accordance with U.S. GAAP In tho
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- Page 108 and 109: In thousands Weighted average share
- Page 110 and 111: The Company recognizes forfeitures
- Page 112 and 113: 2. RELATED PARTY TRANSACTIONS FIXED
- Page 114 and 115: In thousands of Euro Assets purchas
- Page 116 and 117: This pro forma financial informatio
- Page 118 and 119: The Company believes that the preli
- Page 120 and 121: (1) Goodwill acquired in 2003 and 2
- Page 122 and 123: Estimated annual amortization expen
- Page 124 and 125: Since fiscal year 2004, for income
- Page 126 and 127: 8. LONG-TERM DEBT Long-term debt co
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Excluding current maturities, long-
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OBLIGATIONS AND FUNDED STATUS In th
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The accumulated benefit obligations
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CONTRIBUTIONS U.S. Holdings expects
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The following table sets forth the
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STOCK INCENTIVE PLANS Luxottica Gro
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Years ended December 31 (1) Inter-s
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In thousands of Euro Years ending D
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such higher consideration to all te
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eviewed at the end of January 2004,
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ANNUAL REPORT 2004 KEY CONTACTS AND
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EUROPE LUXOTTICA S.r.l. KILLERLOOP
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MIDDLE EAST AND FAR EAST LUXOTTICA