GUESS INC — Director's Dealing 2007

Apr 10, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GUESS INC (GES)
CIK: 0000912463
Period of Report: 2007-03-19

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-19	Common Stock	A	20000	$.01	Acquired	40764	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-19	Employee Stock Option (right to buy)	$41.12	A	20000	Acquired	2017-03-19	Common Stock (20000)	Direct

Footnotes

F1: Acquired pursuant to Issuer's employee equity incentive plan.

F2: Includes 336 shares acquired on 3/2/07 under a tax conditioned plan and not required to be reported pursuant to Rule 16b-3(c).

F3: On March 12, 2007, the common stock of Guess?, Inc. split 2-for-1, resulting in the reporting person's ownership of 10,382 additional shares of common stock.

F4: The option vests 25% on each January 31 of each of 2008, 2009, 2010 and 2011.

F5: Not applicable.