Gucci Outlet Store to Open at Prime Outlets - Queenstown

Iconic Designer to Celebrate Grand Opening Independence Day

QUEENSTOWN, Md., June 24 /PRNewswire/ -- Prime Retail, a Baltimore-based
developer of outlet centers across the U.S. and Puerto Rico, announced today
legendary designer Gucci will open its only outlet store in the greater
Baltimore/Washington D.C. area at Prime Outlets - Queenstown, the upscale
298,000 square foot shopping center serving the Annapolis, Baltimore and
Washington D.C. metro markets. The iconic label will celebrate the grand
opening of its 6,000 square foot location, Saturday, July 4.

"We offer shoppers a comprehensive collection of globally-recognized designer
and leading brand-names at Prime Outlets - Queenstown and are thrilled Gucci
has chosen Prime Outlets - Queenstown as the home for it newest outlet store,"
said Marketing Manager Jackie May. "Gucci Outlet will certainly be a draw for
our local shoppers along with those from nearby Baltimore and Washington,
D.C., as well as tourists visiting our region."

The Gucci Outlet store at Prime Outlets - Queenstown will offer shoppers 30 to
50 percent off merchandise including clothing, footwear, handbags and
accessories. It joins a comprehensive collection of stellar designer and
brand-names such as Coach, Michael Kors, St. John, BCBG MAXAZRIA, Juicy
Couture, Polo Ralph Lauren, Banana Republic and J.Crew at the regional
shopping destination.

About Gucci

Founded in Florence in 1921, Gucci is one of the world's leading luxury
brands. Gucci designs, manufactures and distributes high-quality and highly
desirable products such as leather goods (handbags, small leather goods, and
luggage), shoes, ready-to-wear, silks, timepieces and fine jewelry. Eyewear
and fragrances are manufactured and distributed under license by global
industry leaders in these two sectors. Gucci's core values are uncompromised
craftsmanship, outstanding quality and absolute made in Italy (with the only
exception of watches, which are produced in Switzerland). According to a
perfect balance between creativity and results, Gucci posted another record
year in 2006, with revenues amounting to 2,101 million Euro (+16.8%, on top of
a 18.4% growth in 2005) and a recurring operating income of 612 million Euro
(+26.0%, for an incidence on revenues of 29.1%). Gucci products are sold
exclusively through a highly selected network of directly-operated stores
(which totaled 227 at June 2007), which represents more than 70% of Gucci
total revenues. Other significant channels are franchisees; duty-free
boutiques and large and small specialty stores mainly in Europe and North
America. Ecommerce is also a complementary valuable channel. The Gucci
selling experience in all these channels is exclusive, luxurious and highly
desirable. Gucci is part of Gucci Group N.V., owned by PPR, a global player
in Retail and SetLuxury Goods. Shares in PPR are traded on the Euronext Paris
(#121485, PRTP.PA, PPFP).

About Prime Outlets - Queenstown

Prime Outlets-Queenstown is located 10 miles east of the Chesapeake Bay Bridge
where Route 50 and Route 301 split in Queenstown, Maryland. The shopping
destination offers up to 65 percent of regular retail prices and features a
collection of more than 60 designer and brand name stores including Gucci,
Michael Kors, St. John, Coach, Juicy Couture and BCBG MAXAZRIA, among many
more. Shopping hours are 10a.m. to 9p.m. Monday through Saturday and 10a.m.
to 8p.m. Sunday.

About Prime Retail

Headquartered in Baltimore, Md., Prime Retail owns and operates 21 outlet
shopping centers in the U.S. and Puerto Rico. Spanning more than 8.2 million
square feet throughout major United States markets and Puerto Rico, Prime
Retail is home to more than 450 leading designer and name-brands such as
Gucci, Giorgio Armani, Burberry, kate spade, Michael Kors, St. John, Juicy
Couture, Stuart Weitzman, Saks Fifth Avenue OFF 5TH and Neiman Marcus Last
Call. The company's retail outlets serve major markets including Orlando,
Pittsburgh, Washington, D.C., Austin/San Antonio, Texas and Williamsburg, Va.,
among many more. In addition Prime Retail currently has nearly one million
square feet in its development pipeline in markets including the Dallas/Fort
Worth metro area and San Francisco Bay region. For more information, please
visit www.primeretail.com.

SOURCE Prime Retail

Sue Helondovitch, +1-609-397-4242, ext.176,
shelondovitch@oxfordcommunications.com; or Melinda Brodbeck, +1-609-397-4242,
ext. 134, mbrodbeck@oxfordcommunications.com, both of Oxford Communications
for Prime Retail