MOVADO GROUP INC — Director's Dealing 2004

Mar 30, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2004-03-25

Reporting Person: KARPOVICH EUGENE (Senior V.P. - CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-03-25	Common Stock	M	1500	$14.38	Acquired	5772	Direct
2004-03-25	Common Stock	F	987	$28.73	Disposed	4785	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-03-25	Employee Stock Option (right to buy)	$14.38	M	1500	Disposed	2011-03-16	Common Stock (1500)	Direct
2004-03-25	Employee Stock Option (right to buy)	$28.73	A	987	Acquired	2011-03-16	Common Stock (987)	Direct