GUESS INC — Director's Dealing 2007

Jul 21, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GUESS INC (GES)
CIK: 0000912463
Period of Report: 2007-07-19

Reporting Person: Relich Michael (SVP & CIO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-07-19	Common Stock	M	200	$7.72	Acquired	28590	Direct
2007-07-19	Common Stock	S	200	$50.11	Disposed	28390	Direct
2007-07-19	Common Stock	M	1100	$7.72	Acquired	29490	Direct
2007-07-19	Common Stock	S	1100	$50.10	Disposed	28390	Direct
2007-07-19	Common Stock	M	1300	$7.72	Acquired	29690	Direct
2007-07-19	Common Stock	S	1300	$50.09	Disposed	28390	Direct
2007-07-19	Common Stock	S	200	$50.08	Disposed	28190	Direct
2007-07-19	Common Stock	S	290	$50.075	Disposed	27900	Direct
2007-07-19	Common Stock	S	800	$50.06	Disposed	27100	Direct
2007-07-19	Common Stock	S	1700	$50.07	Disposed	25400	Direct
2007-07-19	Common Stock	S	1200	$50.0701	Disposed	24200	Direct
2007-07-19	Common Stock	S	300	$50.075	Disposed	23900	Direct
2007-07-19	Common Stock	S	6000	$50.08	Disposed	17900	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-07-19	Employee Stock Option (right to buy)	$7.72	M	2600	Disposed	2014-05-03	Common Stock (2600)	Direct

Footnotes

F1: The option vested 25% on each May 3 of 2005, 2006 and 2007; the remaining 25% will vest on May 3, 2008.

F2: Not applicable.