HUGO BOSS in the First Half of 2009

METZINGEN, GERMANY, Jul 30 (MARKET WIRE) --

Press Release

HUGO BOSS holds its ground in economic crisis
Significant rise in operating cash flow
Net working capital down 29%
Net debt reduced by 15%
Slight sales decline of 5%

By introducing a package of measures very early on, HUGO BOSS has
successfully reacted to the emerging effects of the global economic
crisis.

The initiatives taken at the end of last year include the optimization of
cost structures and improving and redesigning work processes. In
addition, the Company has focused on reducing the complexity of its
collection in the past six months. This was also accompanied by a
sustainable reduction of production and logistics costs. A further key
area was the ongoing expansion of directly operated stores. Particularly
in the growth regions of the world, HUGO BOSS increased its presence with
its own shops through corresponding investments.

In the first half of the current fiscal year, HUGO BOSS generated sales
of EUR 788 million (H1 2008: EUR 831 million), a slight decline of only
5%.

On the European market, HUGO BOSS recorded a drop in sales of 8% to EUR
540 million against the backdrop of the difficult general market
environment (H1 2008: EUR 588 million).

Sales on the American continent continued to rise as a result of positive
currency effects. In the reporting currency, these sales were up 4% to a
total figure of EUR 148 million (H1 2008: EUR 143 million). In local
currencies, sales dipped by only 4%.

In the Asia/Pacific region, HUGO BOSS posted sales of EUR 79 million in
the first half of 2009, virtually unchanged year-on-year in Group
currency.

At EUR 21 million in the reporting period, license sales also remained
steady as against the previous year in spite of the effects of the
economic crisis on the premium and luxury goods market.

The internal performance indicator EBITDA was down 10% without taking
into account special items. This decline was due to a rise in impairment
losses on receivables and higher write-downs on inventories. Thanks to
the successful initiatives as part of the structural adjustments,
consolidated net income was down only moderately to EUR 48 million in the
first half of 2009.

The cash flow from operating activities was particularly encouraging,
rising significantly from EUR 29 million to EUR 154 million. This was
helped in particular by the 29% drop in net working capital. Furthermore,
net debt was down by 15% as against the previous year.

"The results for this first half of the year show that HUGO BOSS can
react quickly and flexibly to changes in the market and efficiently
implement the right measures," commented Claus-Dietrich Lahrs, Chairman
and CEO of the Managing Board of HUGO BOSS AG. "Thus, the Group can and
will hold its ground internationally in the current turbulent
environment."

The detailed report on the first half of 2009 and
further information can be found on the website www.group.hugoboss.com.

Please direct any queries to:

Philipp Wolff
Director of Communication
Phone: +49 (0) 7123 94-2375
Fax: +49 (0) 7123 94-2051

Investor Relations
Phone: +49 (0) 7123 94-1326
E-mail: Investor-Relations@hugoboss.com

HUGO BOSS_H1 2009_30 July 2009_e:
http://hugin.info/131370/R/1331680/315185.pdf

HUGO BOSS_H1 Report 2009_e:
http://hugin.info/131370/R/1331680/315187.pdf

This announcement was
originally distributed by Hugin. The issuer is solely responsible for the
content of this announcement.

Copyright Copyright Hugin AS 2009. All
rights reserved.

Copyright 2009, Market Wire, All rights reserved.

-0-