Hans-Kristian Hoejsgaard Joins Timex Group B.V. as President and Chief Executive Officer

Timex Group B.V. announced today that Hans-Kristian Hoejsgaard has
been appointed President and Chief Executive Officer, effective
February 11, 2008. Mr. Hoejsgaard was formerly President and Chief
Executive Officer of Georg Jensen, a leading luxury goods company.

Mr. Hoejsgaard has extensive international management experience.
Prior to joining Georg Jensen, Mr. Hoejsgaard was President of Paris
based Lancaster Group Worldwide, a division of Coty Inc. Earlier in
his career, he was Managing Director-Asia Pacific, based in Hong Kong,
for Guerlain, a division of LVMH Moet Hennessey Louis Vuitton, and
held senior management positions with Joseph E. Seagram & Sons in
Rome, Hong Kong and Bangkok. He holds a B.A. in Economics and
Strategic Planning from Southern Denmark Business School and has
undertaken executive education at Harvard Business School, INSEAD and
Wharton.

Anette Olsen, Chairman of Timex Group, said, "We are very pleased
Mr. Hoejsgaard will be joining our company, and under his leadership I
look forward to growth and success in all segments of the watch
business."

Mr. Hoejsgaard said, "It is indeed a pleasure and a privilege to
have been entrusted with leading one of the world´s largest watch
companies, built on strong global brands and leading technologies. I
look forward to working with the shareholders and the people at Timex
Group to continue their success and to take the company forward."

Timex Group is one of the top watch companies in the world, and
possibly the largest by unit volume. Its revenues are approximately US
$700 million, with over 6,000 employees. Timex was founded in 1854,
and has been designing, manufacturing and selling innovative
timepieces for more than 150 years. Timex Group companies manufacture
and sell watches under numerous brands in many different market
segments, including Timex, TX, Timex Ironman, Timex Expedition,
Valentino, Salvatore Ferragamo, Vincent Berard, Versace, Versus,
Guess, Guess Collection, Marc Ecko and Nautica.