Folli Follie S.A. announces that on Thursday, 7th June 2007 a private placement of 2.500.000 shares, 7.6% of the total share capital of the company has been effected by the company's shareholder Mr. Dimitrios Koutsolioutsos to foreign institutional investors. The price was agreed at Euro 32 per share following an accelerated book building. Goldman Sachs International was the coordinator of the accelerated book building and the aforementioned transaction, which was completed earlier today, Friday 8th June 2007 through the Athens Stock Exchange. The entire value of the transaction amounts to Euro 80 million. Through this private placement the company succeeded in increasing its free float. Moreover the access of foreign institutional investors confirms the investment community's interest in Folli Follie's dynamic international expansion and further indicates confidence to the management's strategy. After the completion of the transaction through the Athens Stock Exchange Mr. D. Koutsolioutsos will own 42,46% of the shares.