MOVADO GROUP INC — Director's Dealing 2006

Mar 22, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2006-03-08

Reporting Person: GRINBERG ALEXANDER (10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-03-08	Class A Common Stock	$	J	5305	Acquired		Common Stock (5305)	Direct

Footnotes

F1: 1 for 1

F2: Distribution by Grinberg Partners L.P. in which reporting person is a limited partner

F3: Immediately

F4: Not Applicable

F5: The reporting person also has an indirect pecuniary interest in an additional 520,228 shares of Class A Common Stock of which
(i) 194,594 are owned by a trust and 287,634 are owned by another trust, for both of which trusts the reporting person is
the beneficiary and (ii) 38,000 are owned by CAP I Partners, L.P. in which the reporting person is a limited partner. The
reporting person disclaims beneficial ownership of the shares held by CAP I Partners, L.P. except to the extent of his
pecuniary interest therein.