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Kering Capital/Financing Update 2010

Mar 25, 2010

1459_iss_2010-03-25_45bc46a4-4b34-4b2b-a4e6-dbf2bd8a4f7c.pdf

Capital/Financing Update

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PRESS RELEASE

Paris, March 25th, 2010

PPR: €500m bond issue

PPR has issued a €500m, 3.75% fixed-rate bond maturing in April 2015.

This issue, in line with the Group's active liquidity management, enables PPR to diversify its sources of financing and to enhance its funding flexibility through refinancing of existing debt and extension of their average maturity.

The great success of this issue with investors confirms the confidence of the market in the creditworthiness of the Group. PPR's long-term debt is rated BBB- with stable outlook by Standard & Poor's.

The placement is managed by Banca IMI, CA-CIB, Comerzbank, Natixis and SG-CIB.

About PPR PPR develops a portfolio of high-growth global brands. Through its Consumer and Luxury brands, PPR generated sales of €16.5 billion in 2009. The Group is present in 60 countries with approximately 73,000 employees. PPR shares are listed on Euronext Paris (FR 0000121485, PRTP.PA, PPFP). To explore the universe of PPR brands go to www.ppr.com: Fnac, Redcats Group (La Redoute, Vertbaudet, Somewhere, Cyrillus, Daxon, Ellos, The Sportsman's Guide, The Golf Warehouse and brands of the plus-size division), Conforama, Puma and the Luxury brands of Gucci Group (Gucci, Bottega Veneta, Yves Saint Laurent, Balenciaga, Boucheron, Sergio Rossi, Alexander McQueen and Stella McCartney).

Contacts

Press :	Charlotte Judet	+ 33 (0) 1 45 64 65 06 [email protected]
Analysts/Investors :	Alexandre de Brettes	+ 33 (0) 1 45 64 61 49 [email protected]