MOVADO GROUP INC — Director's Dealing 2003

Sep 10, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2003-09-08

Reporting Person: MICHNO TIMOTHY F (Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-08	Common Stock	M	2000	$8.50	Acquired	3209	Direct
2003-09-08	Common Stock	S	2000	$23.00	Disposed	1209	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-09-08	Employee Stock Option	$8.50	M	2000	Disposed	2010-05-17	Common (2000)	Direct