Bruno Magli Continues to Strengthen North American Team; New Hires and Promotions Signal Bruno Magli's Increasing Global Presence.

NEW YORK -- Bruno Magli S.p.A. announced today that it has significantly expanded its employee base as it continues to build its position in the North American luxury goods market. Operating from the most dynamic financial platform in its history, BMUSA, the North American division of Bruno Magli, is capitalizing on the sales and service opportunity with new talent across the board.

"We have continued to experience unprecedented demand for our shoes and accessories in the North American luxury goods market through our relationships with fine retailers across the country," said Aaron Schwartz, President and Creative Director of Bruno Magli Group. "In a direct response to record sales, we have taken the steps to invest in and expand our team here and we are excited to be including industry professionals who understand the Brand's commitment to exquisitely made, hand-crafted Italian shoes and accessories."

The team has been strengthened on all levels, including the appointment of Aaron Schwartz as President and Creative Director of Bruno Magli Group in early spring, a sign of the Company's growth and brand development globally. Mr. Schwartz will continue to serve as President of BMUSA, having successfully led the company through a financial restructuring and repositioning effort.

Bruno Magli is pleased to note that over the course of the last few months, the company has hired or promoted more than ten new employees on the senior, associate and administrative levels.

Internal promotions include:

--Randy Routh - National Sales Manager for the Men's Division of BMUSA, who previously served as the National Accounts Manager;

--Mark Koonin - National Sales Manager for the Women's Division of BMUSA who was previously the Account Executive for the western region; and

--Meghan Ryan - Customer Service Manager for BMUSA, who was a customer service agent.

New hires to the company include:

--Robert Ruiz III has been hired as the Account Executive for the men's division of the western region. Mr. Ruiz was formerly with Cole Haan and Mephisto;

--Sandra Dezelan returns to Bruno Magli as an Account Executive in the eastern region. Ms. Dezelan had worked for Bruno Magli before as an international sales associate and at Puma as an Account Executive;

--Jenny Chung joins the team as the Account Executive for the western region. Ms Chung was previously at BCBG's corporate offices in Los Angeles;

--Alida Sanchez has been hired as a Marketing and Public Relations Associate. She was previously with Saks Fifth Avenue Stores;

--Jennifer Serrano has been hired as a Customer Service Associate, a position she previously held Geox Footwear;

--Tina Graziano is now a Customer Service Associate, a position she previously held at Kenneth Cole Productions; and

--Dawn Samouhos joins our administrative offices from Sony Electronics.

About BRUNOMAGLI S.p.A.

BRUNOMAGLI S.p.A., interprets the luxury of Italian style through its exceptionally fine handcrafted shoes and accessories. The label offers its sophisticated and fashion conscious clientele seductive selections of extraordinary comfort and style that is contemporary and innovative. BRUNOMAGLI S.p.A. has 56 global locations in 13 countries: USA, Italy, Great Britain, France, Belgium, Germany, Switzerland, Russia, Greece, Dubai, China, and Singapore.

About Opera

Opera, the Bulgari sponsored private equity fund, is the first investment company to focus on Made in Italy manufacturing and service companies, where being Italian lends a competitive edge. Opera invests in companies with a secure product equity and a successful brand name that are in need of management and financing support. An investment vehicle funded by Opera acquired a majority interest in BRUNOMAGLI S.p.A., and since early 2002 has been involved in the strategic oversight of the Company.