Milan, Italy – February 27, 2006 – Luxottica Group (NYSE: LUX; MTA: LUX), the global leader in
the premium and luxury eyewear sector, announced today a ten-year licence agreement with Polo
Ralph Lauren Corp. (NYSE: RL) for the design, production and worldwide distribution of
prescription frames and sunglasses under the Polo Ralph Lauren name.

The agreement, which will begin on January 1, 2007, is estimated to be worth for Luxottica Group
in excess of US$1.75 billion in sales over its duration. Terms include an advance payment on
royalties of US$199 million that will mature over the ten-year term of the agreement.

Leonardo Del Vecchio, chairman of Luxottica Group, commented: “We are extremely pleased to
start 2006 with the announcement of a landmark agreement with one of the world’s leading brands.
Polo Ralph Lauren is truly a global brand and a perfect fit for our integrated approach to wholesaleretail
distribution.”

“We have high expectations for what Polo Ralph Lauren and Luxottica will accomplish together in
years to come. Our partnership will especially benefit from our ability to support brands through a
worldwide retail network.”

About Luxottica Group S.p.A.

Luxottica Group is a global leader in eyewear, with nearly 5,500 optical and sun retail stores mainly
in North America, Asia-Pacific and China and a well-balanced portfolio that comprises leading
premium house and licensed brands, including Ray-Ban, the best selling sun and prescription
eyewear brand in the world. Among others, the Group’s brand portfolio includes house brands
Vogue, Persol, Arnette and REVO and license brands Bvlgari, Burberry, Chanel, Dolce & Gabbana,
Donna Karan, Prada, Versace and Polo Ralph Lauren, from January 2007. Luxottica Group’s global
wholesale network touches 120 countries, with a direct presence in the key 28 eyewear markets
worldwide. The Group’s products are designed and manufactured at its six Italy-based high-quality
manufacturing plants and at the only China-based plant wholly-owned by a premium eyewear
manufacturer. For fiscal year 2005, Luxottica Group posted consolidated net sales and net income
of €4.3 billion and €342.3 million, respectively. Additional information on the Group is available at
www.luxottica.com.

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. Such statements involve risks, uncertainties
and other factors that could cause actual results to differ materially from those which are
anticipated. 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 availability of correction alternatives to prescription
eyeglasses, the ability to successfully launch initiatives to increase sales and reduce costs, 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, the impact of the application of APB 25 (Accounting for Stock Issued to
Employees) and, as of January 1, 2006, the adoption of SFAS 123 (R) as well as other political,
economic and technological factors and other risks referred to in Luxottica Group’s filings with the
U.S. Securities and Exchange Commission. These forward-looking statements are made as of the
date hereof and Luxottica Group does not assume any obligation to update them.

Contacts

Luxottica Group S.p.A.

Luca Biondolillo, Head of Communications
Email: LucaBiondolillo@Luxottica.com

Alessandra Senici, Senior Manager, Investor Relations
Email : AlessandraSenici@Luxottica.com

Tel.: Tel.: +39 (02) 8633-4062