“While we are still enjoying PUMA’s tremendous success at the African Cup of Nations, we are already kicking-off the countdown to the EURO 2008, our next big tournament”, said PUMA Chairman & CEO Jochen Zeitz. “The European Championships will be the next highlight in an extraordinary sports year and PUMA is proud to be worn on the pitch by a strong portfolio of five teams which clearly strengthens PUMA’s position as one of the world’s top three football brands.”

The event was hosted by actresses Simona Ventura of Italy and Franka Potente of Germany and included the Italian national team, FIGC President Guido Rossi and representatives from PUMA’s four other national teams that will be playing this summer at EURO 2008. The events were also photographed by world-renowned photographer Hubertus von Hohenlohe.

The presentation of uniforms in Zurich coincided with Italy’s friendly match against Portugal on February 6 in Zurich’s Letzigrund Stadium, one of the stadium’s used for EURO 2008. Along with the shirt presentation, PUMA also presented its recently-launched “Until Then” ad campaign and new v1.08 product collection. The lightweight statement v1.08 shirt worn by Italy, Czech Republic, Poland, Switzerland and Austria is made of two highly-breathable mesh fabric layers welded together in stitchless construction to help players physically – and psychologically – by making players and fans feel better about looking better.

The inner mesh layer includes small holes and is hydrophilic – thereby absorbing water and wicking away a player’s sweat. The outer layer has larger ventilation holes and is hydrophobic, keeping the player feeling dry and the two layers from sticking together. The unique welded technology means less fabric and no excess for a total weight of just 145 grams (size M). The shirt improves aerodynamics, minimizes weight and maximizes confidence.

The new international v1.08 statement performance concept is available in sports stores globally and Italy replica shirts can be found in PUMA Retail worldwide.

The contract between the Egyptian Football Association and PUMA was signed in January 2006 and PUMA will support the team beyond the World Cup in South Africa until December 31, 2010.

As the official supplier to a dozen national teams across Africa, PUMA was worn by nine of the 16 teams in the tournament. PUMA gained brand visibility throughout 87.5% of the tournament, showing the strongest brand visibility on the pitch. That being, in 28 out of the 32 games, at least one PUMA team was present, equating to 42 hours of on-pitch action. In the semi-finals, all teams were supplied by PUMA – making PUMA the most prominent brand.

In the light of PUMA’s ongoing and long-term commitment for the African football, PUMA and the Fédération Ivoirienne de Football (FIF) also announced a multi-year extension of their successful partnership beyond the 2014 FIFA World Cup. “The Ivory Coast is one of Africa’s – and the world’s – most talented teams, as we’ve seen at the 2006 World Cup and the Africa Cup of Nations the past two weeks,” said Zeitz. “PUMA is proud to work with the FIF and support Les Elephants for many years to come.”

Les Elephants, as the national team is called back home, have been one of Africa’s top teams for several decades, losing in the semi-finals in this year’s ACN against winner Egypt after having won the African Cup of Nations once (1992). In 2006, the team made its first-ever World Cup appearance. Aside from their exciting style of play, Les Elephants are also known for their colorful orange pop-colored uniforms. The extension was made official last week by PUMA Vice President Horst Widmann and FIF President Jacques Bernard Anouma at the Africa Cup of Nations.

“The cooperation with our Swedish partner has been a great success,” General Manager PUMA Nordic AB Ulf Kinneson said. “We are very pleased to extend our contract, keeping the Swedish team in our athletics portfolio as this further strengthens our positioning as one of the leading running brands.”

With outstanding athletes such as 400-meters sprinter Johann Wissman, high-jumper Linus Thornblad and 100-meter-hurdles athlete Jenny Kallur, the Swedish team has scored impressive results in recent years. At the 2004 Olympic Games, Sweden took home three athletics gold medals in men’s high jump, men’s triple jump and the women’s heptathlon.

“The Swedish Athletic Association is very pleased that our successful relationship with PUMA as our official supplier will continue in the next years to come,” said Yngve Andersson, President of the Swedish Athletic Association.

The 2008 Olympics in Beijing this August will be the next major event where PUMA will provide the Swedish athletes with innovative shoes, apparel and equipment to guarantee the perfect starting position for success.

Highlights Q4

• Consolidated sales increase more than 10%
• Gross profit margin on a high level
• EBIT up 21%
• EPS at € 2.40 versus € 2.03

Highlights January – December

• Global brand sales increase more than 3%
• Consolidated sales up almost 5%
• Gross profit margin increases significantly to more than 52%
• EBIT at € 372 million, representing 15.7% of sales
• EPS at € 16.80 compared to € 16.39

Outlook 2008

• Future orders up almost 10%
• Management expects sales and earnings increase in 2008

The year 2007 was a year with only a few events. Nevertheless, most of the targets set were reached and even exceeded in many areas. The Company successfully strengthened its positioning as a desirable sportlifestyle brand, which is as well reflected in the improved gross profit margin.

In 2007, worldwide brand sales were up 3.4% currency adjusted, amounting to € 2.7 billion. On a comparable basis, consolidated sales climbed by 4.7% to € 2.4 billion. The gross profit margin jumped by 170 basis points to over 52%, and operating profit was above last year’s, totalling € 372.0 million. Earnings per share increased from € 16.39 to € 16.80.

Highlights 4th Quarter 2007

In Q4, consolidated sales increased significantly by 10.3% to € 504.5 million on a currency-adjusted basis. Footwear rose by 7.0% to € 277.2 million, Apparel by 14.8% to € 194.7 million and Accessories by 14.0% to € 32.6 million. By regions, EMEA sales increased by 19.9% and Asia/Pacific went up by 14.3% whereas sales in the Americas decreased by 3.3% as expected.

The gross profit margin was at 51.6% 390 basis points up from last year’s quarter. SG&A increased from 38.7% to 40.3% of sales. EBIT rose significantly by 20.7% to € 52.4 million and earnings per share from € 2.03 to € 2.40.

Highlights January – December 2007

Global brand sales growth of more than 3%

PUMA brand sales rose currency-adjusted by 3.4% to € 2.7 billion. Due to the continuing weakness of currencies, particularly of the US Dollar, brand sales in Euros were slightly below last year’s level. By segments, Footwear sales climbed on a comparable basis by 1.9% to € 1,477.9 million, Apparel by 5.7% to € 998.7 million, and Accessories by 3.7% to € 262.2 million.

Licensed business

License sales declined by 3.8% to € 365.3 million on a currency neutral basis. The decrease is attributable to expired licence agreements. On a comparative basis, licence sales rose by approximately 4%. As of 2008, the Korean market will be serviced through the fully-owned subsidiary and will therefore be converted from a licence business into a consolidated business.

Overall, royalty and commission income from license sales amounted to € 35.6 million. This corresponds to 9.7% of license sales compared to 9.6% in the previous year.

Consolidated sales up almost 5%

PUMA succeeded in increasing its consolidated sales for the thirteenth consecutive year, including ten years of double-digit growth. In the 2007 financial year, currency adjusted sales rose by 4.7% to a total of € 2,373.5 million. Currency effects impacted negatively in Euro terms. The currency adjusted sales in the Footwear segment posted a 2.1% increase to € 1,387.8 million. The Apparel segment grew by 8.6% to € 827.3 million. In the Accessories segment sales were up by 7.8% to € 158.3 million.

Expansion of own retail operations is on schedule

Expansion of the Group’s own retailing activities progressed as planned during the 2007 financial year. An additional 25 PUMA concept stores were opened worldwide in 2007, resulting in 116 concept stores at the end of 2007, including two stores operated by licensee. Sales from the Company’s own retail operations grew by 18.0% to € 406.4 million in 2007. The share in consolidated sales rose from 14.5% to 17.1%.

Significant increase in gross profit margin

The desirability of the brand is reflected, in particular, in the gross profit margin. In FY2007, the gross profit margin grew strongly by 170 basis points to 52.3%. In absolute figures, gross profit was up by 3.5%, rising to € 1,241.7 million. According to product segments, the Footwear gross profit margin increased from 50.3% to 52.3% and Apparel from 50.7% to 52.2%. Accessories reached a gross profit margin of 52.8% versus 53.3%.

Investments in the brand continue as planned

Operating expenses rose by 3.5% to € 859.2 million in the 2007 financial year. The cost ratio increased from 35.0% to 36.2% of sales owing to continued scheduled brand investments and infrastructure investments.

Investments in Marketing/Retail totalled € 424.9 million. The cost ratio rose from 17.7% to 17.9% of sales, whereby marketing expenses declined in comparison with the previous year while expenses incurred for retail operations saw a scheduled increase. Product development and design expenses climbed to € 57.5 million, and at 2.4% of sales, remained constant in comparison with the previous year. Other selling, general and administrative expenses rose to € 376.7 million or from 14.9% to 15.9% of sales. The total includes one-off expenses and start-up costs for the new subsidiary in Korea.

EBIT above last year

Operating profit (EBIT) climbed to € 372.0 million from € 368.0 million in 2006. As a percentage of sales, this corresponds to an operating margin of 15.7%, compared to 15.5%.

Like-for-like, the financial result increased strongly from € 6.0 million to € 10.5 million. The financial result includes interest income of € 21.2 million and interest expenses of € 5.3 million. The net interest result corresponds to an average rate of return of 3.9%, compared to 3.1% in the previous year.

Earnings before taxes (EBT) reached € 382.6 million versus € 374.0 million in the previous year. As a percentage of sales this corresponds to a return of 16.1%, compared to 15.8%.

Tax expenses rose to € 110.9 million. The average tax rate was 29.0%, compared to 28.9% in the previous year.

Net Earnings

Net earnings improved by 2.2% to € 269.0 million. This corresponds to a net return of 11.3%, compared to 11.1% in the previous year. Earnings per share amounted to € 16.80, compared to € 16.39, and the diluted earnings per share were € 16.78, compared to € 16.31.

Net Assets and Financial Position

Equity ratio at 62%

As of December 31, 2007 shareholders’ equity rose by 10.1% to € 1,154.8 million. The equity ratio reached 62.0% after 61.2% in the previous year. The balance sheet total climbed by 8.6% from € 1,714.8 million to € 1,863.0 million.

Working Capital

Trade receivables grew by 4.2% to € 389.6 million due to the sales increase in the fourth quarter (+5.0%). Inventories increased by 2.6% to € 373.6 million. The increase is attributable to the order position for deliveries in the first months of the 2008 financial year. The inventory structure was improved significantly in the course of the year, as previously announced. Taking short-term liabilities into account, working capital was € 406.5 million and accounted for 17.1% of sales, after 16.9% in the previous year.

Capex/Cashflow

Cash used for investing activity dropped significantly to € 93.5 million. The decrease is due mostly to the cash used for regional expansion recorded in the previous year. The expansion of PUMA’s own retail operations and current investments account for € 103.4 million, according to plan.

The free cashflow (before acquisition) grew strongly by 138.3% to € 218.3 million. As a percentage of sales, the free cashflow more than doubled from 3.9% to 9.2%.

Regional Development

In spite of the fewer events in 2007 compared to the previous year, solid growth was achieved in the EMEA region. The currency adjusted sales rose by 7.8% to € 1,235.3 million. Nearly all countries in this region contributed to the growth. The EMEA region’s share in consolidated sales rose to 52.0%, compared to 48.9% in the previous year. By product segments, Footwear sales increased by 5.6%, Apparel by 11.6%, and Accessories by 7.4%, on a comparative basis. The gross profit margin reached 53.9% after 53.8% in the previous year. The operating margin (EBIT) accounted for 21.2% of sales, compared to 22.0% in the previous year.

Currency adjusted sales in America declined by 4.3% and amounted to € 641.2 million. The share in consolidated sales decreased from 30.6% to 27.0%. This is largely related to adaptation of the business with a key account customer in the USA, who in the past years had recorded strong growth in sales, and a constant moderate environment in US shopping centers (malls). As a result of these developments, the US market, which is the largest in the region, declined after several years of double-digit growth; in 2007 currency-adjusted sales decreased by 9.5% to a total of USD 561.1 million.

According to product segments in the region, Footwear posted a 5.7% decrease and Apparel declined by 2.6%. Sales in Accessories were up by 11.4%. The gross profit margin grew from 46.1% to 50.7% owing to a significant improvement in the USA. Realization of the announced streamlining of the distribution structure thus impacted very positively on the gross profit margin. The operating margin was 17.6%, compared to 17.4% in the previous year.

In the Asia/Pacific region, currency adjusted sales grew significantly by 10.1% to € 497.0 million. China, in particular, contributed to this positive result. Total region increased its share in consolidated sales from 20.5% to 20.9%. According to product segments, Footwear showed a currency adjusted increase by 11.3%, Apparel by 10.0%, and Accessories by 6.1%. The gross profit margin increased from 49.8% in the previous year to 50.6%. The operating margin was 20.4%, compared to 21.9% in the previous year.

Dividend

For financial year 2007, the Board of Management and the Supervisory Board will propose at the Annual Meeting on April 22, 2008 that the dividend be increased by 10% to € 2.75 per share. Hence, the dividend pay-out ratio moved up from 15.2% to 16.3%, in line with the announced gradual increase during the Phase IV.

In January and February 2007 the Company repurchased a total 150,000 treasury stock or 0.9% of the subscribed capital. The acquisition costs totalled € 41.6 million. With effect from April 10, 2007, the total of 1,270,000 own shares held up to that time were cancelled.

Based on a resolution of the Shareholders’ meeting of April 11, 2007, the Company was again authorized to acquire own shares of up to ten percent of the capital stock by September 1, 2008. The Company made use of this authorization and repurchased a total of 125,000 PUMA shares, or 0.8% % of the subscribed capital, up to the balance sheet date. The amount invested to this end totals € 34.7 million. The share buy back program will be continued in 2008.

Outlook 2008

Significant increase in orders

For the twelfth consecutive time, orders on hand posted growth as of the year-end. At year-end 2007, orders climbed currency adjusted by 9.8% to € 1,187.7 million, due mostly to deliveries for the first and second quarter of 2008.

By product segments, currency adjusted orders for Footwear went up by 4.7% to € 721.1 million, Apparel orders climbed by 19.9% to € 397.7 million, followed by Accessories, which rose by 13.6% to € 68.9 million.

In the EMEA regions, currency adjusted orders were up by 10.2% to € 712.0 million. Orders in the America region dropped by 3.2% to € 241.3 million on a comparable basis. The decrease is due exclusively to the US market. Orders in the Asia/Pacific region rose by 26.0% to € 234.4 million due to a significant increase in the Chinese market, in particular.

Sales and profit increase expected in 2008

Due to the positive orders position, Management expects a currency adjusted single-digit sales growth for the fiscal year 2008.

EBIT is also expected to increase compared to 2007. The operating margin, however, is expected to fall below previous year’s level because of the major sports events and related marketing expenses as well as planned further expansion of the Company’s own retail activities. The tax rate is expected to be at last year’s level.

Jochen Zeitz, CEO: “Although PUMA faced a challenging year, we did not only meet most of our expectations in 2007, but even exceeded them in many points. PUMA had an excellent and successful start into the extraordinary sports year 2008 by winning the African Cup of Nations through Egypt’s win, securing a strong brand visibility on the pitch as the leading equipment supplier. We are determined to make use of all opportunities and chances that offer further growth and we will continue to invest and to strengthen the brand’s as well as the company’s desirability in the long run.”

“Hussein Chalayan is a proven visionary in the fashion, design and art industries. As our Creative Directorfor our Sport Fashion business, Chalayan will bring his use of new technology, forward-thinking design and provocative point of view to PUMA,” said Jochen Zeitz, Chairman and CEO of PUMA. “Acquiring majority shares of the Hussein Chalayan brand is giving PUMA the ability to move into a new space, expanding our reach to become the most desirable Sportlifestyle company in the world.”

In his position as Creative Director, based in London, Chalayan will be responsible for all creative direction for PUMA Sport Fashion collections and will touch all product categories including footwear, apparel and accessories. Chalayan will work hands-on with all PUMA respective design teams worldwide. PUMA will support Chalayan to grow his brand worldwide, using guidance, resources and infrastructure from PUMA’s parent company PPR and giving the Hussein Chalayan brand a better opportunity to evolve in the retail environment. His influence will be initially reflected in the fall 2009 collections.

“I feel that the collaboration with PUMA both for the PUMA Sport Fashion and Lifestyle lines as the creative director and on the existing Chalayan brand is a revolutionary model for a partnership,” said Hussein Chalayan. “Combining PUMA’s infrastructure and technological platform with PPR facilities, we will be able to turn experimental ideas into reality both for the PUMA and the Chalayan lines. Hopefully, people will have the means to access real products evolving from our processes rather than only seeing them in shows and events.”

The collaboration will put an emphasis on PUMA’s more fashion forward ranges, as it continues to post growthin its performance categories football, motorsport, running and sailing. The Hussein Chalayan brand will become part of the PUMA Group, joining sportlifestyle brand PUMA and outdoor lifestyle brand Tretorn, which was acquired by PUMA in 2001.

Cyprus born Chalayan spent his early years in Northern Cyprus. He graduated from Central Saint Martins School of Art with an honours degree in fashion. He has been named “British Designer of the Year” twice for his innovative collections and performance-based fashion productions. Known for pushing the boundaries of fashion with technology, Chalayan’s talent goes beyond fashion with many of his pieces considered works of art. In 2003, he directed his first short film Place to Passage which was screened in the Truman Brewery in London. He has continued his career in film with pieces such as Absent Presence and Compassion Fatigue. With the former, Hussein Chalayan represented Turkey at the 51st Venice Biennale in 2005.

As an artist, designer and filmmaker, Chalayan has a passion for culture and life taking inspiration from philosophy, architecture and anthropology.

Under the agreement, PUMA will remain the technical sponsor of all on-field, sideline, training and representation apparel and equipment, incl. bags and ball, to all Swiss National Teams including the Men’s ‘A’, ‘U21’, ‘U20’, ‘U19’, ‘U18’ and Futsal national teams, as well as all Women’s National Teams. PUMA will be an active partner of various SFV grass roots and youth initiatives plus the SFV Football Academies.

“This year we are celebrating the 10th anniversary of the partnership between PUMA and SFV and we are excited that the partnership will continue beyond two additional major Championships in 2010 and 2012,” said Jochen Zeitz, Chairman and CEO of PUMA. “We have continuously been impressed with the development of Swiss football at all levels, shown not only through the National ‘A’ teams participation at both Euro 2004 as well as World Cup 2006 but also through the increasing number of Swiss players in the major leagues across Europe.”

“We are delighted to continue our partnership with PUMA and would like to thank them for the excellent collaboration in the past 10 years,” said Peter Gilliéron, SFV General Secretary. “PUMA is the perfect brand for Swiss football for the future and will be an integral part in the further development of Swiss football.”

The Swiss National Team endorses PUMA’s statement product concept – the v1.08 collection that was launched globally in January 2008, featuring lightweight moisture-wicking materials, mesh layers and welded-technology in its performance apparel pieces. The shirt provides improved freedom of movement and fit from older versions, including special back construction with two-piece mesh fabric. The inner mesh layer includes small holes and is hydrophilic – thereby absorbing water and wicking away a player’s sweat, while the outer layer provides the ideal smooth surface to print the player names and numbers.

Highlights Q1:

• Consolidated sales up almost 7%
• Strong gross profit margin, up 120 basis points to 53.4%
• Brand investments continue according to plan
• EBIT at € 126 million representing almost 19% of sales versus 21% last year
• EPS at € 5.76 compared to € 6.02

Outlook 2008:

• Orders up currency neutral 12% to nearly € 1.2 billion
• In a challenging market, management confirms a single-digit sales increase on a currency neutral basis

Sales and Earnings Development

Global branded sales

PUMA’s worldwide branded sales, which include consolidated and license sales, rose currency neutral 0.5%. In reporting terms, branded sales reached € 741.2 million versus € 762.1 million due to the strength of the Euro against most of the related currencies.
Footwear sales were down by 4.6% to € 404.1 million. Apparel was almost on last year’s level totaling
€ 246.9 million, and Accessories improved by 36.0% to € 90.1 million.

Licensed business

On a comparable basis, licensed sales were flat. However, due to the take-back of the former license market Korea, the licensed business was down by 35.6% currency neutral to € 67.8 million. Based on the remaining licensed business the company realized a royalty and commission income of € 7.1 million in the first quarter versus € 9.7 million in the prior year.

Consolidated sales up almost 7%

In Q1, consolidated sales grew 6.6% currency neutral (2.7% in Euro terms) to € 673.3 million. Sales in Footwear were almost flat versus last year representing € 394.2 million, with all regions achieving satisfactory performance except the US. Apparel sales improved by 18.5% to € 231.8 million and Accessories by 16.5% to € 47.3 million and all regions contributed with double-digit growth.

Gross profit at 53.4%

In Q1, gross profit margin reached 53.4% compared to 52.2% last year. The Footwear margin was up from 52.1% to 53.4% and Apparel increased from 51.9% to 53.4%. Accessories reported 53.7% compared to 54.9% last year.

SG&A

In total, SG&A rose 9.9% to € 227.8 million in Q1 2008. As a percentage of sales, the cost ratio was at 33.8% versus 31.6% last year.

Marketing/Retail expenses were up by 20.6% to € 120.4 million that was due to higher marketing investments and the Retail expansion as planned. As a percentage of sales, this represents a cost ratio of 17.9% compared to 15.2% in the previous year. Product development and design expenses were down by 11.4% to € 11.6 million, or from 2.0% to 1.7% of sales, mainly due to currency effects. Other selling, general and administrative expenses increased 1.6% to € 95.9 million but declined from 14.4% to 14.2% of sales.

EBIT

EBIT amounts to € 125.8 million versus € 134.8 million last year. As a percentage of sales this relates to a EBIT margin of 18.7% versus 20.6%.
The tax ratio was 28.9% versus 29.1% in last year’s quarter.

Net Earnings/Earnings per share € 5.76

In Q1, net earnings reached € 90.1 million versus € 96.6 million last year. The net return amounts to 13.4% versus 14.7%. Earnings per share were € 5.76 versus € 6.02 last year. Diluted earnings per share were calculated at € 5.76 compared with € 6.01.

Net Assets and Financial Position

Equity ratio above 60%

As of March 31, 2008, total assets climbed by 0.8% to € 1,811.5 million and the equity ratio reached 60.4% after 60.9% in the previous year.

Working capital Inventories grew 5.9% to € 364.5 million, which is in line with or even better than the order growth end of the quarter. Accounts receivables were down 2.5%, reaching € 506.2 million, versus a sales growth of 2.7% during Q1. Total working capital at the end of March totaled € 521.1 million compared to € 496.1 million last year.

Capex/Cashflow

For Capex, the company spent € 24.3 million in Q1 versus € 14,8 million in last year’s quarter, whereas € 6.4 million were related to payment on accounts. In addition, € 16.6 million (last year: € 1.6 million) were financed for acquisition cost.
Due to the mentioned investments and the seasonal higher working capital requirement, free cashflow amounts to € -49.7 million compared to € -9.8 million last year. Excluding investment for acquisitions free cashflow was € -33.0 million versus € -8.2 million.

Cash position

Total cash end of March stood at € 357.2 versus € 402.4 million last year. Bank debts were up from € 63.5 million to € 67.1 million. As a result, the net cash position decreased from € 338.9 million to € 290.0 million year over year whereby € 107.7 million (last year: € 41.6 million) were spent for the share buyback program in the first quarter.

Share Buyback

PUMA purchased another 450,000 of its own shares during the first three months. At quarter-end, 575,000 shares were held as treasury stock in the balance sheet, accounting for 3.6% of total share capital.

Regional Development

Sales in the EMEA-region increased currency adjusted 9.7% reaching € 391.1 million versus € 360.9 million last year, with growth in all categories. The region now represents 58.1% of consolidated sales. Gross profit margin increased to 54.7% compared to 53.7% last year. Orders were up 10.9% currency adjusted to € 644.8 million.

Sales in the Americas were down currency neutral 5.6% to € 148.7 million. Footwear was below last year but accessories and apparel were up double-digit in the quarter. The region now accounts for 22.1% of consolidated sales. Gross profit margin further improved from 49.7% to strong 50.4%. The order book reported a currency neutral increase of 3.2%. In the US market, sales were down 14.2% to $ 134.1 million, affected by the continued moderate environment in the mall-based business. Orders for US end-of-quarter declined 20.8%.

Asia/Pacific reported the strongest growth with solid performance in all categories. Sales increased 13.3% currency neutral to € 133.5 million. The total region accounts for 19.8% of sales. Gross profit margin was strongly up by 160 basis points to 53.0%. Order books reached € 289.7 million, an increase of 23.7% over last year.

Outlook 2008

Future orders up 12% to nearly € 1.2 billion

In comparable terms, consolidated orders were up by 12.1%, or in reporting terms, orders increased 6.5% to € 1,170.4 million. Like-for-like, Footwear was up by 10.2% to € 677.9 million, Apparel improved 14.3% to € 418.2 million and Accessories 18.3% to € 74.3 million.>

Management confirms a single-digit sales increase on a currency neutral basis

Management reaffirms a currency adjusted single-digit sales growth for the fiscal year 2008 despite a continued difficult consumer environment.

During the exceptional sport year 2008 PUMA continues with its marketing investments as planed in order to support the long-term growth potential. The brand investments could affect 2008’s EBIT margin. In a volatile market environment it is difficult to outline the final impact on profitability.

Jochen Zeitz, CEO: “In the midst of an overall economic environment that continues to be challenging, PUMA has shown resiliency in both growth and desirability. Despite a difficult 2008 outlook, we will continue to invest in our planned initiatives to capitalize on major opportunities with global sporting events and fully maximize PUMA’s long-term potential.”

“This is a special day for PUMA as a brand and PUMA Ocean Racing as a team,” said Zeitz. “As part of our strategy for expansion into new categories, we are looking forward to the launch of our PUMA Sailing performance and lifestyle collections in 2008 and supporting our PUMA Ocean Racing team as they prepare to race il Mostro in the Volvo Ocean Race later this year.

Il Mostro was designed by the team of Botin & Carkeek and built at Goetz Custom Boats in Bristol, Rhode Island in conjunction with Customline Yachts, before being launched at the Newport Shipyard in Newport, RI, in late April. PUMA Ocean Racing’s training base will be in Newport throughout the next four months, as the team prepares for the 10-month, 37,000 mile race around the globe. The new boat design is one of the new cutting-edge, second-generation Volvo Open 70s that are the world’s fastest monohulls. Its graphic details include a unique PUMA twist.

“We were really trying to be intimidating with this design – a fearful racing machine,” said Antonio Bertone, Chief Marketing Officer. “That’s why it’s called il Mostro – the monster. We wanted the reaction to be ‘No way, look at that thing!’ and I think we accomplished that.”
“The boat’s look is a testament to PUMA’s creativity as a brand, as well as its support for PUMA Ocean Racing to build the best Volvo Open 70 that it can,” says Ken Read, PUMA Ocean Racing Skippe. “It was a lot of hard work from many people to get this boat into the water in such a short time and we couldn’t be more proud to be sailing il Mostrolater this year in the Volvo Ocean Race.

The Institute of Contemporary Art provided a fitting backdrop to the events with its visually-stunning design that both embraces and complements Boston Harbor. The museum lobby was transformed into a showroom for PUMA Sailing’s performance and lifestyle collection of apparel, footwear and accessories. The ICA’s waterfront Putnam Investment Plaza was used as the setting for the evening festivities and a PUMA Sailing fashion photoshoot by world-renowned photographer Todd Cole earlier in the day.

“The Institute of Contemporary Art was the perfect setting for this celebration, given its blend of style and modernity and proximity to Boston Harbor,” said Bertone. “PUMA can’t wait for what the Volvo Ocean Race will bring to Boston, the excitement our team will create and the success of our new sailing category at retail.&rdquo

PUMA Ocean Racing will begin off-shore training with il Mostro in May with several shorter races planned for June including the Halfway Rock Race (June 6-7), NYYC Regatta (June 13-14) and Newport-Bermuda Race 2008 (June 20-22).

PUMA announced their entrance into the sailing category in May 2007, when they officially entered into the Volvo Ocean Race 2008-2009 with the PUMA Ocean Racing Team. The around the world race will be making the only US stop in Boston, Massachusetts, the home of PUMA’s US headquarters. The sportlifestyle brand will carry a full line of performance and lifestyle apparel, footwear and accessories beginning May 2008, available at sailing specialty stores and select PUMA Concept Stores.

For more information about the race, team and the PUMA Sailing collections, please visit www.pumaoceanracing.com

The native Italian has considerable experience in the fashion industry and worked for labels such as Donna Karan, Giorgio Armani, Helmut Lang and Prada. His latest post was Worldwide Marketing Director at Prada in Milan, where he was in charge of driving the business of the Prada sports collection Prada Linea Rossa and Prada Denim Project since 2005.

PUMA CEO and Chairman Jochen Zeitz said: „With the appointment of Giorgio Belloli as Chief Executive of Hussein Chalayan, we are delighted to have an excellent manager with comprehensive experience in the fashion industry coming on board. With his know-how in managing and positioning fashion brands, he will drive the development of the Hussein Chalayan brand. ”

„I appreciate Hussein Chalayan’s vision and work in the fashion, design and art industries“, Giorgio Belloli said. “What has been created between PUMA and Hussein Chalayan is a very innovative model. I believe that the combination of PUMA’s infrastructure together with PPR facilities will help the brand to gain the visibility it deserves.”

In this new position, Belloli will implement the growth and positioning strategy for the brand Hussein Chalayan as well as the international wholesale strategy and drive the development of existing and future categories.

“We have been working with PUMA for a year now, and without a doubt, PUMA and PPR are a perfect fit,” said François-Henri Pinault. “This is a very good example of a successful cooperation between Germany and France, which benefits both countries. The main reason why our partnership is working so well is because both, PUMA and PPR, are companies that are driven by a deep innovation and entrepreneurial spirit. Although we have both strong roots in our respective countries, we are real global players who want to expand their brands worldwide”.

Jochen Zeitz, Chairman and CEO of PUMA: “One year after the take over, the partnership with PPR proved to be a symbiotic partnership, where one company supports the other in achieving its long-term corporate goals. We have found a strategic stakeholder in PPR that shares our vision and our distinctive culture. PUMA and PPR match each other perfectly and we are delighted that our partnership is considered to be a successful example of a French-German collaboration”.

PPR Group acquired a 62.1% share in PUMA in July 2007, and has increased its stake to 64.34% (corresponds to 66.8% of the shares outstanding) to date. The aim of the take over was to integrate PUMA as an autonomous company within the PPR Group.

Bolt told journalists after the race, “I wasn’t really looking for the world record, but it was there for the taking. I knew after 50 meters the race was over.” He also confirmed for the first time that he hoped to compete in both, the 100 metres and 200 metres, at the Olympic Games in Beijing in August. “The Olympics are the big thing for me. It doesn’t matter if I have the world record, if I don’t have the Olympic medal”, he added.

Bolt made headlines last month, when he ran an unexpected 9.76 seconds, clocking the 2nd fastest 100m time ever recorded at a competition in Jamaica. He has competed almost exclusively in the 200m, earning a silver medal at the 2007 IAAF World Championships in Osaka, Japan.

Usain Bolt joined the PUMA athletic team in 2002, when he won the World Junior Championship 200m title in Jamaica, becoming one of the leading athletes for the company. During his race on Saturday he wore the complete Theseus II – the PUMA® performance track&field shoe and a sleeveless outfit from the complete running collection in store now. Theseus II is the PUMA® premier sprinters spike designed specifically for the 100 and 200 meters, the perfect combination of light synthetic leather and smooth leather overlays.

PUMA will gain a high brand visibility by outfitting the national teams of World Cup Winner Italy, the host nations Austria and Switzerland as well as Poland and Czech Republic. PUMA expanded and strengthened its position as Number 3 of the leading football brands, increasing the number of teams from four at the European Championship 2004 in Portugal.

“We are looking forward to three exciting weeks, especially with PUMA’s unique positioning as the partner of both host nations and World Cup Winner Italy,” said Jochen Zeitz, Chairman and CEO of PUMA.

The SQUADRA AZZURRA from Italy who won the World Cup in 2006 are one of the top bets in the upcoming tournament. The contract between PUMA and the Italian Football Federation has been signed in 2003 and was renewed in November 2005 beyond the Football World Cup in 2014.