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MBFG project to restructure the debt
Jul '09
The Board of Directors of Mariella Burani Fashion Group S.p.A. met yesterday, July 14, 2009 and agreed to the following.

As part of the project to restructure the debt of Mariella Burani Fashion Group S.p.A. and its subsidiaries, and as a means of reinforcing the independence of the Board of Directors, Gabriele Fontanesi and Ettore Burani have been nominated as Directors to the Board.

Gabriele Fontanesi will assume the role of Chief Executive Officer, with related responsibilities and authority, as of September 2009. Mr. Fontanesi brings management capabilities from multinational groups with which he has collaborated as CFO and as Director to the Board.

Also as part of this project, Giovanni Burani and Andrea Burani have resigned from their positions as Directors of the Board of Mariella Burani Fashion Group S.p.A. Giovanni Burani will assume the role of President and CEO of the parent company, Burani Designer Holding N.V., and Andrea Burani will concentrate on operational management of the Group.

Completed his economics studies with a Master obtained at the University of Wisconsin (USA), after which he returned to Italy to collaborate as Manager and as a Board member of various multinational Groups in the Food and Luxury sectors.

Since the mid 1990's, Mr. Fontanesi collaborated with STARWOOD HOTELS & RESORTS CO., White Plains (USA). Starwood Hotels is one of the principal international Groups in the luxury hotels and resorts sector with brands such as S. Regis, Westin, Luxury Collection, W, and Sheraton.

As CFO and Board member of the Group's companies in Italy, Mr. Fontanesi participated in the acquisition of Gruppo CIGA ( Società Italiana Grandi Alberghi ) by ITT SHERATON and its subsequent restructuring, including its delisting from the Italian stock Exchange.

Prior to that, from 1987 to the mid 1990's, Mr. Fontanesi worked with QUAKER OATS CO., Chicago (USA) as CFO and member of the Board of its Italian subsidiary, Quaker Chiari e Forti. In this role, he participated in the launch of GATORADE and in the divestiture of the OLII and PETFOODS businesses.

From the early 1980's, Mr. Fontanesi acted as CFO and Board member of GRUPPO AUGUST OETKER , Germany, successfully implementing a restructuring and rationalization plan of the Group's Italian food and beverage operations. In 1985, he was nominated General Director of the Company.

Mr. Fontanesi began his professional experience with DEL MONTE FOODS CO., San Francisco (USA), assisting the Company to establish an Italian presence.

Mariella Burani Fashion Group

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