GUESS INC — Director's Dealing 2008

Apr 18, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GUESS INC (GES)
CIK: 0000912463
Period of Report: 2008-04-16

Reporting Person: SHACHTMAN NANCY (President of Wholesale)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-04-16	Common Stock	M	2500	$8.68	Acquired	10074	Direct
2008-04-16	Common Stock	M	1000	$18.10	Acquired	11074	Direct
2008-04-16	Common Stock	S	3500	$38.00	Disposed	7574	Direct
2008-04-16	Common Stock	S	574	$38.00	Disposed	7000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-04-16	Employee Stock Option (right to buy)	$8.68	M	2500	Disposed	2015-06-20	Common Stock (2500)	Direct
2008-04-16	Employee Stock Option (right to buy)	$18.10	M	1000	Disposed	2016-03-06	Common Stock (1000)	Direct

Footnotes

F1: The option vests in four equal installments on each December 31 of 2005, 2006, 2007 and 2008

F2: Not applicable.

F3: The option vests in four equal installments on each January 1 of 2007, 2008, 2009 and 2010.