An audio replay of the presentation, as well as the presentation
slides, will be available on the Investor Relations page of the
Company's Web site, www. Consolidated results for the quarter and the full year
include the consolidation of the Cole National business as of October 4, 2004.

13 (US$0.9
million. Additional information on the company is available on the web at
http://www . See notes to attached tables for
more information.S.0%

NET INCOME 59,756 59,613 0.4%

EARNINGS PER SHARE (ADS) (2) 0.79 0.8% 5.3%
PROVISION FOR INCOME
TAXES (161 ,665) (117,328)
INCOME BEFORE MINORITY
INTEREST IN INCOME OF
CONSOLIDATED
SUBSIDIARIES 295,488 272,465
MINORITY INTEREST IN
INCOME OF CONSOLIDATED
SUBSIDIARIES (8,614) (5,122)
NET INCOME 286,874 8.7% 16.0%
Operating income (50,655) 492,814
% of sales 15.7%
Depreciation + Amortization 27,357 157,772

Notes :
(1) These consolidated adjusted amounts are a non-GAAP measurement.S .0

Retail net sales 531.S.1 2,506.S.

machina curiosities

Bausch + Lomb to Present at the Smith Barney Health Care Conference on March 30 2005

Y.bausch. More
information about the Company can be found on the Bausch + Lomb Web
site at www.8 million (+14.3%
- Retail operating income: euro 310.1 million (+22.4 million (+25. Such risks and uncertainties include, but are not limited to ,
fluctuations in exchange rates, economic and weather factors affecting
consumer spending, the ability to successfully introduce and market new
products, the ability to successfully launch initiatives to increase sales and
reduce costs, the availability of correction alternatives to prescription
eyeglasses , the ability to effectively integrate recently acquired businesses,
including Cole National, risks that expected synergies from the acquisition of
Cole National will not be realized as planned and that the combination of
Luxottica Group's managed vision care business with Cole National will not be
as successful as planned, as well as other political, economic and
technological factors and other risks referred to in Luxottica Group's filings
with the U.1% 13. Operating measures that exclude the impact
of fluctuations in currency exchange rates are not measures of performance
under accounting principles generally accepted in the United States (U. See table above for a reconciliation of the
operating measures excluding the impact of fluctuations in currency
exchange rates to their most directly comparable U.

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MILAN, Italy, Luxottica Group S.3%); Net margin: 8.3%); Retail comparable store
sales(4): +4.17 per ADS)

Andrea Guerra, chief executive officer of Luxottica Group, commented:
"This was a particularly strong year for our entire organization, both in
retail and wholesale.luxottica. Securities and Exchange Commission.S.59

KEY FIGURES IN THOUSANDS OF U.0%
COST OF SALES (315,738) (225,483)
GROSS PROFIT 625,913 66.5% 493,199 68.3% 14.5%
Operating income 191,116 291,418 330,113
% of sales 19. This information does not purport to be indicative of the
actual result that would have been achieved had the OPSM Group
acquisition been completed as of January 1, 2003, and the Cole
National acquisition been completed as of October 4, 2003.S.

devious quackery

2 billion; it employs approximately 12,400 people worldwide
and its products are available in more than 100 countries.
(NYSE: LUX; MTA: LUX), global leader in the eyewear sector, today announced
consolidated U.

Consolidated financial highlights
Fiscal Year 2004

* Sales: euro 3,223 . In wholesale, our strong fashion and
house brands, which include Ray-Ban, the best-selling sun and prescription
brand in the world, continued to strengthen their position in key markets
worldwide , testifying to the overall strength of our portfolio. In fact, consolidated net outstanding debt as of
December 31, 2004, was euro 1,711.

About Luxottica Group S.

Safe Harbor Statement

Certain statements in this press release may constitute "forward-looking
statements " as defined in the Private Securities Litigation Reform Act of
1995.

- TABLES TO FOLLOW -

1 Excludes the impact of fluctuations in currency exchange rates in the
translation of operating results into Euro.S. Dollars, respectively

LUXOTTICA GROUP

CONSOLIDATED FINANCIAL HIGHLIGHTS
FOR THE YEARS ENDED
DECEMBER 31, 2004 AND DECEMBER 31, 2003

KEY FIGURES IN THOUSANDS OF EURO (4)
2004 2003 % Change

NET SALES 3 ,223,896 2,824,636 14.9%
OPERATING EXPENSES:
SELLING EXPENSES (351 ,131) (271,928)
ROYALTIES (13,275) (9,104)
ADVERTISING EXPENSES (50,720) (41,691)
GENERAL AND
ADMINISTRATIVE
EXPENSES (93,106) (61,286)
TRADEMARK AMORTIZATION (13,155) (10,077)
TOTAL (521,387) (394,085)
OPERATING INCOME 104,526 11.7% 16.S. Further, these adjusted financial measures are
one of the primary indicators management uses for planning and forecasting
in future periods.

pince curiosities

2 percent, reflecting an
improvement in the trend for the year.16

Notes : 2004 2003
(1) Average exchange rate
(in U.67

Notes : 2004 2003
(1) Average exchange rate
(in U.0% 718,682 100.3% 0. Dollars)
In thousands of Euro
2004

Net Sales 1,094,298 2,315,783 2,892,712
EBITDA 280,785 389,903 486,263
% of sales 25. Operating measures that assume constant exchange rates
between the whole year 2004 and the whole year 2003 and the fourth quarter
of 2004 and the fourth quarter of 2003 are calculated using for each
currency the average exchange rate for the whole year and the three-month
period ended December 31, 2003.

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p.7 million (+31. Prior to that, in September 2003 the Group acquired control of OPSM
Group, the leading eyewear retailer in Australia, and, in March 2001, Sunglass
Hut International, a leading sunglass retailer with approximately 1,900 stores
worldwide.13

WEIGHTED AVERAGE NUMBER
OF OUTSTANDING SHARES 448 ,611,400 447,989,477
FULLY DILUTED AVERAGE
NUMBER OF SHARES 451,054 ,240 450,098,499

Notes :
(1) Except earnings per share (ADS), which are expressed in Euro

LUXOTTICA GROUP

CONSOLIDATED INCOME STATEMENT
FOR THE YEARS ENDED
DECEMBER 31, 2004 AND DECEMBER 31, 2003

In thousands of Euro % of % of
(1) 2004 sales 2003 sales % Change

NET SALES 3,223,896 100. GAAP results to assist the reader in better understanding the
operational performance of the Company

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64 (US$0.7% assuming constant exchange
rates(3))
- Retail sales: euro 730.70 (earnings per ADS from
US$0 .S.9 and euro 286.9% 267,343 9.64 0.59

WEIGHTED AVERAGE NUMBER
OF OUTSTANDING SHARES 448,275,028 448,664,413
FULLY DILUTED AVERAGE
NUMBER OF SHARES 450,360,942 450,202,173

Notes :
(1) Except earnings per share (ADS), which are expressed in Euro

LUXOTTICA GROUP

CONSOLIDATED BALANCE SHEET
AS OF DECEMBER 31, 2004, AND DECEMBER 31, 2003

In thousands of Euro December 31, 2004 December 31, 2003

CURRENT ASSETS:
CASH 257,349 299,937
ACCOUNTS RECEIVABLE 406,437 353,516
SALES AND INCOME TAXES RECEIVABLE 33,120 34,259
INVENTORIES 433,158 404,216
PREPAID EXPENSES AND OTHER 69,149 50,714
DEFERRED TAX ASSETS - CURRENT 104,508 124,451
TOTAL CURRENT ASSETS 1,303,723 1,267,093

PROPERTY, PLANT AND EQUIPMENT -
NET 599 ,245 497,435

OTHER ASSETS
INTANGIBLE ASSETS - NET 2,473,053 2,093,612
INVESTMENTS 156,988 13,055
OTHER ASSETS 23,040 41,476
SALES AND INCOME TAXES
RECEIVABLES 9 5
TOTAL OTHER ASSETS 2,653,089 2,148,148

TOTAL 4,556,057 3,912,676

CURRENT LIABILITIES:
BANK OVERDRAFTS 289,459 516,905
CURRENT PORTION OF LONG-TERM DEBT 404,317 390,935
ACCOUNTS PAYABLE 222,550 178,616
ACCRUED EXPENSES AND OTHER 378,902 218,388
ACCRUAL FOR CUSTOMERS' RIGHT OF
RETURN 8,802 7,423
INCOME TAXES PAYABLE 12,721 11,011
TOTAL CURRENT LIABILITIES 1,316,753 1,323,278

LONG TERM LIABILITIES:
LONG TERM DEBT 1,274,905 862,492
LIABILITY FOR TERMINATION
INDEMNITIES 52,656 47,241
DEFERRED TAX LIABILITIES - NON
CURRENT 215,891 161,102
OTHER 176,486 124,157
TOTAL LONG TERM LIABILITIES 1,719,938 1,194,992

COMMITMENTS AND CONTINGENCY:
MINORITY INTERESTS IN
CONSOLIDATED SUBSIDIARIES 23,760 19,872

SHAREHOLDERS' EQUITY:
455,205,473 ORDINARY SHARES
AUTHORIZED AND ISSUED -
448,770,687 SHARES OUTSTANDING 27,312 27,269
NET INCOME 286,874 267,343
RETAINED EARNINGS 1,181,421 1,079,922
TOTAL SHAREHOLDERS' EQUITY 1,495,607 1,374,534

TOTAL 4,556,057 3,912,676

LUXOTTICA GROUP
CONSOLIDATED FINANCIAL HIGHLIGHTS
FOR THE YEARS ENDED
DECEMBER 31, 2004, AND DECEMBER 31, 2003
- SEGMENTAL INFORMATION -

Manufacturing Retail Retail
and (in thousand of
Wholesale U.3 %
Capital Expenditure -- 81,288
Depreciation + Amortization 21,026 134,840
Assets 1,507,941 3,912,676

2003 As adjusted (1)

Net Sales (174,080) 3,253,284
EBITDA (8,155) 604,795
% of sales 18.

machina lorgnettes

C.m.2%); Net margin: 6."
Strong free cash flow generation was once again one of the main highlights
of Luxottica Group results.

5 The ratio of net debt to EBITDA is not a measure of performance under
accounting principles generally accepted in the United States (U.67

FULLY DILUTED EARNINGS PER SHARE
(ADS) (3) 0.8

Manufacturing/wholesale
net sales 995.8 191. In addition, since the Luxottica Group has
historically reported such adjusted financial measures to the investment
community, the Company believes that their inclusion provides consistency
in its financial reporting.

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Its core
businesses include soft and rigid gas permeable contact lenses and
lens care products, and ophthalmic surgical and pharmaceutical
products. The Bausch + Lomb name is one of the best known and most
respected healthcare brands in the world.A.7%)
* Operating income: euro 104."
"During the final quarter of the year, from a retail perspective in North
America we focused on the integration of the important Cole National business,
the success of which is key for our Group. This followed the acquisitions of the Bausch + Lomb sunglass
business , which includes the prestigious Ray-Ban(R), Revo(R), ArnetteTM and
Killer Loop(R) brands, in June 1999, and LensCrafters, the largest optical
retail chain in North America, in May 1995.

3 Excludes the impact of fluctuations in currency exchange rates in the
translation of operating results into Euro.6% 87,219 12.6%
Operating income (35,511 ) 447,023
% of sales 13. In
addition, Luxottica Group's method of calculating operating performance
excluding the impact of changes in exchange rates may differ from methods
used by other companies.

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com

9 million (+7.
In October 2004, Luxottica Group acquired Cole National Corporation, one of
the largest U. optical retailers, operating more than 2,100 retail locations
through Pearle Vision, Sears Optical, Target Optical and BJ's Optical, and a
leading provider of managed vision care services through Cole National Managed
Vision.64 0.5%

NET INCOME 356,728 302,285 18.1%
Operating income (29,180 ) 431,787
% of sales 15.

stethoscopes lomb

4 million (+20. Such statements involve risks, uncertainties and other factors that
could cause actual results to differ materially from those which are
anticipated.2%

EARNINGS PER SHARE (ADS) (2) 0.60

FULLY DILUTED EARNINGS PER SHARE
(ADS) (3) 0.1307
(2) Weighted average number of
outstanding shares 448,275,028 448,664,413
(3) Fully diluted average number
of shares 450,360,942 450,202,173
(4) Except earnings per share (ADS), which are expressed in Euro and
U.2% 389,793 13.
In thousands of Euro
2004

Net Sales (186,185) 3,223,896
EBITDA (25,123) 645,564
% of sales 20.1

Manufacturing/wholesale
net sales 221.2

12M 2003 12M 2004 Adjustment 12M 2004
U.3 33.
GAAP).

ebl amputation

Business Editors
Smith Barney Health Care Conference 2005

ROCHESTER, N.bausch.3%
* Net income: euro 286.1%
- Wholesale sales: euro 258.88 to US$0.91)
* Net debt/EBITDA: from 2.17 0.3%

EARNINGS PER SHARE (ADS) (2) 0.3%
EARNINGS PER SHARE (ADS)
(1) 0.60
FULLY DILUTED EARNINGS
PER SHARE (ADS) (1) 0.3 2,315.S.

replications dosimeters

9
million. The Group's products are designed and manufactured in its
six facilities in Italy and one in the People's Republic of China. The lines
manufactured by Luxottica Group include over 2,450 styles in a wide array of
colors and sizes and are sold through 21 wholly-owned subsidiaries in the
United States, Canada, Italy, France, Spain, Portugal, Sweden , Germany, the
United Kingdom, Brazil, Switzerland, Mexico, Belgium, Argentina, South Africa,
Finland , Austria, Norway, Japan, Australia and Poland; one 75%-owned
subsidiary in Israel; a 70%-owned subsidiary in Greece; three 51%-owned
subsidiaries in the Netherlands, Turkey and Singapore, one 49%-owned
subsidiary in the United Arab Emirates and one 44%-owned subsidiary in India.
See notes to attached tables for more information

LUXOTTICA GROUP

CONSOLIDATED FINANCIAL HIGHLIGHTS
FOR THE THREE-MONTH PERIODS ENDED
DECEMBER 31, 2004 AND DECEMBER 31, 2003

KEY FIGURES IN THOUSANDS OF EURO (4)
2004 2003 % Change

NET SALES 941,651 718,682 31.0%

EARNINGS PER SHARE (ADS) (2) 0.80 0.8% 17.5%
Capital Expenditure 23,580 57,708 65,250
Depreciation + Amortization 45,208 68,606 77,573
Assets 1,528,074 876,661 1,104,329

2003 As adjusted (1)

Net Sales 995,109 2,432 ,255 2,765,475
EBITDA 236,324 376,625 427,085
% of sales 23. The Company believes that
these adjusted financial measures provide useful information to both
management and investors by allowing a comparison of operating performance
on a consistent basis.

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Bausch + Lomb's 2004 revenues
were $2.1%, +21.0%, +41.1 million (+37.1%
- Retail operating income: euro 74.6%
* Net income: euro 59.

2 Comparable store sales are intended as sales that, for comparison
purposes, are normalized by using in the calculation only stores open during
the comparable period the previous year, the same exchange rates and the same
consolidation area.2968 1.
DOLLARS (1) (4)
2004 2003 % Change

NET SALES 4,008,915 3,193,816 25.7%
OPERATING EXPENSES:
SELLING EXPENSES (1,125,942) (1,008,687)
ROYALTIES (51,002) (41,537)
ADVERTISING EXPENSES (198,102) (183,252 )
GENERAL AND
ADMINISTRATIVE EXPENSES (300,095) (243,717)
TRADEMARK AMORTIZATION (45,148) (37,316)
TOTAL (1,720,289) (1,514,509)
OPERATING INCOME 492,814 15.7 76.

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3 million (+10.0%)
* Operating income: euro 492.1%); Operating margin: 15.6%); Wholesale
operating margin: 17 . All our optical and sun retail brands, from LensCrafters
to Sunglass Hut to OPSM Group, performed well above industry trends,
especially in terms of profitability.3 million, compared with euro 1 ,470. This result included a total consideration of approximately euro 600
million for the Cole National acquisition as well as euro 95.2x(5)

Luxottica Group's consolidated results for the fourth quarter and fiscal
year 2004 were approved today by its Board of Directors. For fiscal 2004, Luxottica Group
posted net sales and net income respectively of euro 3,223.S.1% 99,114 13.3% 59 ,613 8.5% 7.

barometer planetaria

----Bausch + Lomb
(NYSE:BOL) announced today that Company management will present an
overview of operations at the Smith Barney Health Care Conference in
Washington, D.com

Bausch + Lomb is the eye health company, dedicated to perfecting
vision and enhancing life for consumers around the world.2 million (+16.

Luxottica Group is the world leader in the design , manufacture, marketing
and distribution of prescription frames and sunglasses in mid- and premium -
priced categories. These forward-looking
statements are made as of the date hereof and Luxottica Group does not assume
any obligation to update them.17 0.S. Dollars per Euro) 1. Dollars per Euro) 1.13 0.

LUXOTTICA GROUP
NON-GAAP COMPARISON OF CONSOLIDATED NET SALES
FOR THE THREE-MONTH PERIODS AND THE YEARS ENDED DECEMBER 31, 2004,
AND DECEMBER 31, 2003, ASSUMING CONSTANT EXCHANGE RATES

4Q 2003 4Q 2004 Adjustment 4Q 2004
U.7 941.8 730.

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Founded in 1853, the Company
is headquartered in Rochester , New York. Within this
context, wholesale sales to third parties rose by 13.p. GAAP).1%

NET INCOME 286,874 267,343 7.6% 1,946,296 68.9%
Operating income 191,116 269,851 305,120
% of sales 19.2% 12.2 258.9

Note:
Luxottica Group uses certain measures of financial performance that
exclude the impact of fluctuations in currency exchange rates in the
translation of operating results into Euro.

ebl stethoscopes

9 million (+14.1 percent for fiscal year 2003.0x to 2.

4 Comparable store sales are intended as sales that, for comparison
purposes, are normalized by using in the calculation only stores open during
the comparable period the previous year, the same exchange rates and the same
consolidation area.13 0.0% 2,824 ,636 100.3% 13.2% 13. These non-GAAP measures are not meant to be considered in isolation
or as a substitute for results prepared in accordance with U. GAAP financial
measures .

cathode stethoscopes

5 million (+5.68 to euro 0.
DOLLARS (1) (4)
2004 2003 % Change

NET SALES 1,221,133 853,938 43.1882
(2) Weighted average number of
outstanding shares 448,611,400 447,989,477
(3) Fully diluted average number
of shares 451,054,240 450,098,499
(4) Except earnings per share (ADS) , which are expressed in Euro and
U.64 0.S.8%
Operating income 233,129 310,340 386,857
% of sales 21 .

phlebotomy microscopes

8 million (+15.80 per ADS)

Fourth quarter of 2004

* Sales: euro 941.8 million (+0.5 million in
dividend paid.
For the full year, the tax rate was 35.com.S. See notes to attached tables for
more information.0% 31.13
FULLY DILUTED EARNINGS
PER SHARE (ADS) (1) 0. The
company has included this measurement to give comparative information
for the two periods discussed, aligning the consolidation periods of
OPSM Group and Cole National for both years 2003 and 2004. GAAP U. The adjusted financial measures should be used as a supplement
to U.

mercurial cathode

6% assuming constant exchange
rates(1))
- Retail sales: euro 2,315.3 million (+15.0%); Retail operating
margin: 10. As of today, all is on track with
no surprises.13

FULLY DILUTED EARNINGS PER SHARE
(ADS) (3) 0.3% 431,787 15. GAAP U.0 1,127.

laue barometer

Luxottica Group Net Sales for Fiscal Year 2004 Up Year-Over-Year by 14.1 Percent

2%
- Wholesale sales: euro 1,094.9%
* Earnings per share: euro 0.5%); Operating margin: 11.2%
- Wholesale operating income: euro 45.3%
* Earnings per share: euro 0.4
million as of December 31, 2003, reflecting a net increase of euro 240.S. Dollars, respectively

LUXOTTICA GROUP

CONSOLIDATED INCOME STATEMENT
FOR THE THREE-MONTH PERIODS ENDED
DECEMBER 31, 2004 AND DECEMBER 31, 2003

In thousands of Euro % of % of
(1) 4Q04 sales 4Q03 sales % Change

NET SALES 941,651 100.6% 26.9%
PROVISION FOR INCOME
TAXES (37,632) (26,490)
INCOME BEFORE MINORITY
INTEREST IN INCOME OF
CONSOLIDATED
SUBSIDIARIES 61,754 60,729
MINORITY INTEREST IN
INCOME OF
CONSOLIDATED
SUBSIDIARIES (1,998) (1,117)
NET INCOME 59,756 6.7% 15.0%
Depreciation + Amortization 45,208 85,207 96,972

Inter-Segments Consolidated
Transaction and
Corporate Adj.4 1,018.S.6 3,223.9 209.S. GAAP.

microscopes pince

, on Wednesday, March 30, at 1:20 p. ET. GAAP results for the three- and twelve-month periods ended
December 31, 2004.7%); Retail comparable store
sales(2): +4.0%); Retail Operating
margin: 13.30 average exchange rate for the
full year and an expected tax rate of between 37 percent and 40 percent,
forecasts the following results for fiscal year 2005:

* Sales: from euro 4,000 million to euro 4,150 million
* Earnings per share: from euro 0.S.0% 14.9% 13.4%
Capital Expenditure 31,367 86,053 107,181
Depreciation + Amortization 47,656 79 ,563 99,406
Assets 1,566,086 1,211,781 1,640,509

2003 As reported

Net Sales 995,109 2,002,264 2,263,960
EBITDA 236,324 338,456 382,692
% of sales 23. GAAP for constant adjusted
In million of Euro results results exchange rates results

Consolidated net sales 718 .8 266.1 802. GAAP for constant adjusted
In million of Euro results results exchange rates results

Consolidated net sales 2,824.1 1,094.

lomb ebl

4%
- Wholesale operating income: euro 233.4 percent, compared with a tax rate
of 30.

Forecast for fiscal year 2005

Luxottica Group, based on a euro 1 = US$1.13 0.2435 1 .2%
EARNINGS PER SHARE
(ADS) (1) 0.13 0.1%
OTHER INCOME (EXPENSE):
INTEREST EXPENSES (56,115) (47,117)
INTEREST INCOME 6,662 5,922
OTHER - NET 13,792 (799)
OTHER INCOME (EXPENSES)
NET (35,661) (41,994)
INCOME BEFORE PROVISION
FOR INCOME TAXES 457,153 14.64 0. They
reflect the consolidation of OPSM Group results for the entire year
ended December 31, 2003 (as it is in 2004) and the consolidation of
Cole National results for the last three months of 2003 (as it is in
2004).9 3 ,433.

barometer dosimeters

S.0%); Wholesale
operating margin: 21.A.13

KEY FIGURES IN THOUSANDS OF U .0%

NET INCOME 77,491 70,832 9.16

FULLY DILUTED EARNINGS PER SHARE
(ADS) (3) 0.5%
OTHER INCOME (EXPENSE):
INTEREST EXPENSES (18,657) (12,059)
INTEREST INCOME 2,102 2,122
OTHER - NET 11,415 (1,959)
OTHER INCOME (EXPENSES)
NET (5,140) (11,895)
INCOME BEFORE PROVISION
FOR INCOME TAXES 99,386 10 .1%
COST OF SALES (1,010,793) (878,340)
GROSS PROFIT 2,213,103 68.3%
Capital Expenditure -- 117,420
Depreciation + Amortization 25,532 152,750
Assets 1,778,191 4,556,057

2003 As reported

Net Sales (172,737) 2,824,636
EBITDA (8,154) 566,626
% of sales 20.2 7.1 72.3

Retail net sales 2,002 .

machina curiosities

Bausch + Lomb to Present at the Smith Barney Health Care Conference on March 30 2005

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devious quackery

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devious mercurial

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laue barometer

Luxottica Group Net Sales for Fiscal Year 2004 Up Year-Over-Year by 14.1 Percent

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lorgnettes wunderkammer