GUESS INC — Director's Dealing 2007

Sep 12, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GUESS INC (GES)
CIK: 0000912463
Period of Report: 2007-09-10

Reporting Person: SHACHTMAN NANCY (President of Wholesale)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-09-10	Common Stock	M	12500	$3.655	Acquired	16500	Direct
2007-09-10	Common Stock	S	11500	$45.00	Disposed	5000	Direct
2007-09-10	Common Stock	S	100	$45.01	Disposed	4900	Direct
2007-09-10	Common Stock	S	900	$45.04	Disposed	4000	Direct
2007-09-11	Common Stock	M	12500	$3.655	Acquired	16500	Direct
2007-09-11	Common Stock	S	12500	$45.00	Disposed	4000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-09-10	Employee Stock Option (right to buy)	$3.655	M	12500	Disposed	2013-07-29	Common Stock (12500)	Direct
2007-09-11	Employee Stock Option (right to buy)	$3.655	M	12500	Disposed	2013-07-29	Common Stock (12500)	Direct

Footnotes

F1: This option vested 25% on each July 29 of 2004, 2005, 2006 and 2007

F2: Not applicable.