COMPANY NEWS

April 2007

JUNJI HORIKAWA BECOMES PRESIDENT AND CEO OF CHARMANT INC

Kaoru Horikawa, Chairman of Japan based Charmant Group, appoints Junji Horikawa to succeed him as President and CEO of Charmant Inc., the global sales and marketing company of the group.

Sabae-City, Japan -since the foundation of Charmant Inc., in 1975 Kaoru Horikawa devotedly served all 32 years as President. As of April 2nd 2007 he appoints Junji Horikawa, former Executive Vice-President, as his successor.

Kaoru Horikawa the founder of the Charmant Group will maintain his active role as the groups Chairman. In addition he will continue as a member on the Board of Directors. Junji Horikawa, who joined the company in 1987 spent 20 years in sales, marketing and manufacturing. Most recently he was executive Vice-President of Charmant Inc. The core principles of the Group were established by our Chairman and will remain. In today's increasing competitive environment we need to focus on our strength. In addition we must take another step to develop our unique position in the industry Junji Horikawa states.

The Charmant Group started in 1956 as a manufacturer of spectacle parts and through development and improvement of its own original technology transformed into a frame manufacturer. In 1975, Charmant Inc. the sales and marketing company was established. Today the company distributes over 8.5 million frames and sunglasses through its sales network which covers the globe with direct sales organizations in 17 major countries and distributors all over the world.

Charmant's global sales network, advanced technology and production know how as well as continuous innovation enabled it to establish successful frame brands such as Charmant and Aristar, and to hold global license agreements with major fashion brands such as Esprit, ELLE, and Lacoste(Asia and Americas only).