GUESS INC — Director's Dealing 2007

Jul 6, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GUESS INC (GES)
CIK: 0000912463
Period of Report: 2007-07-05

Reporting Person: SECOR DENNIS R (SVP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-07-05	Common Stock	M	8000	$20.175	Acquired	40400	Direct
2007-07-05	Common Stock	S	8000	$50.22	Disposed	32400	Direct
2007-07-05	Common Stock	S	7500	$49.62	Disposed	24900	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-07-05	Employee Stock Options (right to buy)	$20.175	M	8000	Disposed	2016-07-05	Common Stock (8000)	Direct

Footnotes

F1: The option vested 25% on July 5, 2007. The balance of the option will vest 25% on each July 5 of 2008, 2009 and 2010.

F2: Not Applicable.