Better than expected revenues Fossil

Fossil, Inc. has announced that it expects first quarter revenues to be in the range of USD 165 million to USD 170 million, as compared to USD 143.6 million in the first quarter of the prior year. This increase includes approximately USD 5 million from a stronger than expected Euro. Fossil will present its Q1-report coming May 13.

Mike Kovar, Chief Financial Officer of Fossil, said: "We experienced a significant drop in orders during March causing our first quarter domestic sales to fall below expectations. On a positive note, sales from our international businesses continued to perform strongly."

Mr. Kovar added: "We continue to be excited about our prospects for the second half of the year. We believe the global retail environment will improve during the second half of 2003. Fossil is a design, development, marketing and distribution company that specializes in an extensive line of watches sold under the Fossil brand. The company also licensed brands for Emporio Armani, DKNY and Diesel. The Company's products are sold in department stores and specialty retail stores in over 90 countries around the world.