De Rigo Announces the Signing of an Asset Sale Agreement with Essilor Group

Apr 27, 2001, 01:00 ET from De Rigo S.p.A.

    MILAN, Italy, April 27 /PRNewswire/ -- De Rigo S.p.A. (NYSE:   DER)
 announces that De Rigo's wholly owned subsidiary, Dollond and Aitchison, has
 signed an agreement with BBGR Ltd, a wholly owned subsidiary of Essilor
 International SA, the world's largest lens manufacturer.
     The agreement provides for the sale of all of the assets of D&A's two lens
 laboratories, for an undisclosed consideration, and the transfer to BBGR of
 all related employees. Combined, the two facilities represent the largest lens
 factories in the UK, with around 370 workers.  The agreement also provides for
 a long term supply agreement that allows the parties to develop mutual
 synergies along the lens supply chain.
     Ennio De Rigo, Chairman of De Rigo Group, commented, "We are delighted to
 enter into this long term relationship with Essilor.  It will allow D&A to
 continue to accelerate its turnaround programme which is now starting to reap
 real benefits."
     Xavier Fontanet, Chairman of Essilor, commented, "This important
 acquisition allows BBGR to establish a manufacturing base in the UK and
 supports our world wide strategy to grow our manufacturing presence in markets
 previously unsupported by BBGR."
 
 

SOURCE De Rigo S.p.A.
    MILAN, Italy, April 27 /PRNewswire/ -- De Rigo S.p.A. (NYSE:   DER)
 announces that De Rigo's wholly owned subsidiary, Dollond and Aitchison, has
 signed an agreement with BBGR Ltd, a wholly owned subsidiary of Essilor
 International SA, the world's largest lens manufacturer.
     The agreement provides for the sale of all of the assets of D&A's two lens
 laboratories, for an undisclosed consideration, and the transfer to BBGR of
 all related employees. Combined, the two facilities represent the largest lens
 factories in the UK, with around 370 workers.  The agreement also provides for
 a long term supply agreement that allows the parties to develop mutual
 synergies along the lens supply chain.
     Ennio De Rigo, Chairman of De Rigo Group, commented, "We are delighted to
 enter into this long term relationship with Essilor.  It will allow D&A to
 continue to accelerate its turnaround programme which is now starting to reap
 real benefits."
     Xavier Fontanet, Chairman of Essilor, commented, "This important
 acquisition allows BBGR to establish a manufacturing base in the UK and
 supports our world wide strategy to grow our manufacturing presence in markets
 previously unsupported by BBGR."
 
 SOURCE  De Rigo S.p.A.