GUESS INC — Director's Dealing 2007

Oct 22, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GUESS INC (GES)
CIK: 0000912463
Period of Report: 2007-10-18

Reporting Person: ALBERINI CARLOS (Director, President & COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-10-18	Common Stock	M	7900	$2.315	Acquired	48779	Direct
2007-10-18	Common Stock	S	7900	$55.00	Disposed	40879	Direct
2007-10-18	Common Stock	M	100	$2.315	Acquired	40979	Direct
2007-10-18	Common Stock	S	100	$55.03	Disposed	40879	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-10-18	Employee Stock Option (right to buy)	$2.315	M	8000	Disposed	2010-12-11	Common Stock (8000)	Direct

Footnotes

F1: The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 18, 2007.

F2: Includes 115 shares acquired on September 29, 2007 under a tax conditioned plan and not required to be reported pursuant to Rule 16b-3(c).

F3: The option vested in five equal installments on each December 31 of 2001 through 2005.

F4: Not applicable.