GUESS INC — Director's Dealing 2007

Jul 3, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GUESS INC (GES)
CIK: 0000912463
Period of Report: 2007-07-02

Reporting Person: Relich Michael (SVP & CIO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-07-02	Common Stock	M	7400	$7.72	Acquired	35790	Direct
2007-07-02	Common Stock	S	7400	$49.00	Disposed	28390	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-07-02	Employee Stock Option (right to buy)	$7.72	M	7400	Disposed	2014-05-03	Common Stock (7400)	Direct

Footnotes

F1: Includes 490 shares acquired on 6/29/07 under a tax conditioned plan and not required to be reported pursuant to Rule 16b-3(c).

F2: The option vested 25% on each May 3 of 2005, 2006 and 2007; the remaining 25% will vest on May 3, 2008.

F3: Not applicable.