GUESS INC - Director's Dealing 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GUESS INC (GES)
CIK: 0000912463
Period of Report: 2008-03-25

Reporting Person: Relich Michael (SVP & CIO)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-03-25	Common Stock	M	850	$18.10	Acquired	27850	Direct
2008-03-25	Common Stock	S	500	$40.66	Disposed	27350	Direct
2008-03-25	Common Stock	S	350	$40.65	Disposed	27000	Direct
2008-03-25	Common Stock	M	5000	$8.68	Acquired	32000	Direct
2008-03-25	Common Stock	S	1100	$40.60	Disposed	30900	Direct
2008-03-25	Common Stock	S	100	$40.61	Disposed	30800	Direct
2008-03-25	Common Stock	S	900	$40.62	Disposed	29900	Direct
2008-03-25	Common Stock	S	600	$40.64	Disposed	29300	Direct
2008-03-25	Common Stock	S	400	$40.65	Disposed	28900	Direct
2008-03-25	Common Stock	S	300	$40.66	Disposed	28600	Direct
2008-03-25	Common Stock	S	200	$40.67	Disposed	28400	Direct
2008-03-25	Common Stock	S	200	$40.70	Disposed	28200	Direct
2008-03-25	Common Stock	S	300	$40.71	Disposed	27900	Direct
2008-03-25	Common Stock	S	200	$40.72	Disposed	27700	Direct
2008-03-25	Common Stock	S	700	$40.74	Disposed	27000	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-03-25	Employee Stock Option (right to buy)	$18.10	M	850	Disposed	2016-03-06	Common Stock (850)	Direct
2008-03-25	Employee Stock Option (right to buy)	$8.68	M	5000	Disposed	2015-06-20	Common Stock (5000)	Direct

F1: The option vests in four equal installments on each January 1 of 2007, 2008, 2009 and 2010.

F2: Not applicable.

F3: The option vests in four equal installments on each December 31 of 2005, 2006, 2007 and 2008.