MOVADO GROUP INC — Director's Dealing 2004

Jul 2, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2004-06-30

Reporting Person: GRINBERG GEDALIO (Director, Chairman, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-06-30	Phantom Stock Unit	$0	A	173.91	Acquired	1988-08-08	Common Stock (173.91)	Direct

Footnotes

F1: Phantom stock units acquired under issuer's Deferred Compensation Plan for $17.25 per
share. Distributable in equal annual installments for 10 years following date of reporting
person's termination of employment with issuer.