Document:

STOCK ESCROW AGREEMENT

                  STOCK  ESCROW   AGREEMENT,   dated  as  of   _________,   2005
("Agreement"),  by and among ITHAKA  ACQUISITION  CORP., a Delaware  corporation
("Company"),  PAUL A. BROOKE,  ERIC HECHT,  JOHN M. GLAZER and PMSV HOLDINGS LLC
(collectively  "Initial  Stockholders")  and CONTINENTAL  STOCK TRANSFER & TRUST
COMPANY, a New York corporation ("Escrow Agent").

                  WHEREAS,   the  Company  has  entered  into  an   Underwriting
Agreement,   dated   _____________,   2005  ("Underwriting   Agreement"),   with
EarlyBirdCapital,   Inc.  ("EBC")  acting  as   representative  of  the  several
underwriters (collectively, the "Underwriters"),  pursuant to which, among other
matters,  the Underwriters have agreed to purchase  8,500,000 units ("Units") of
the Company.  Each Unit consists of one share of the Company's common stock, par
value  $.0001 per share  ("Common  Stock"),  and two  Warrants,  each Warrant to
purchase one share of Common Stock, all as more fully described in the Company's
final Prospectus,  dated _____________,  2005 ("Prospectus")  comprising part of
the Company's Registration Statement on Form S-1 (File No. 333-124521) under the
Securities  Act  of  1933,  as  amended  ("Registration  Statement"),   declared
effective on _____________, 2005 ("Effective Date").

                  WHEREAS,  the Initial  Stockholders have agreed as a condition
of the sale of the Units to deposit their shares of Common Stock of the Company,
as set forth  opposite  their  respective  names in  Exhibit A  attached  hereto
(collectively "Escrow Shares"), in escrow as hereinafter provided.

                  WHEREAS,  the Company and the Initial Stockholders desire that
the Escrow Agent accept the Escrow Shares,  in escrow,  to be held and disbursed
as hereinafter provided.

                  IT IS AGREED:

         1.   APPOINTMENT   OF  ESCROW  AGENT.   The  Company  and  the  Initial
Stockholders  hereby  appoint  the Escrow  Agent to act in  accordance  with and
subject to the terms of this  Agreement and the Escrow Agent hereby accepts such
appointment and agrees to act in accordance with and subject to such terms.

         2. DEPOSIT OF ESCROW SHARES.  On or before the Effective  Date, each of
the  Initial  Stockholders  shall  deliver  to  the  Escrow  Agent  certificates
representing his respective  Escrow Shares,  to be held and disbursed subject to
the  terms  and  conditions  of  this   Agreement.   Each  Initial   Stockholder
acknowledges that the certificate  representing his Escrow Shares is legended to
reflect the deposit of such Escrow Shares under this Agreement.

         3.  DISBURSEMENT OF THE ESCROW SHARES.  The Escrow Agent shall hold the
Escrow  Shares  until the  third  anniversary  of the  Effective  Date  ("Escrow
Period"),  on which date it shall,  upon written  instructions from each Initial
Stockholder,  disburse each of the Initial  Stockholder's  Escrow Shares to such
Initial Stockholder;  provided, however, that if the Escrow Agent is notified by
the Company  pursuant to Section 6.7 hereof that the Company is being liquidated
at  any  time  during  the  Escrow  Period,   then  immediately   prior  to  the
effectiveness of such  liquidation,  the Escrow Agent shall promptly destroy the
certificates  representing  the Escrow  Shares and the  Escrow  Shares  shall no
longer be considered issued and outstanding securities of the Company;  provided
further,  however, that if, after the Company consummates a Business Combination
(as such term is defined in the  Registration  Statement),  it (or the surviving
entity) subsequently

<PAGE>

consummates a liquidation,  merger,  stock exchange or other similar transaction
which  results in all of the  stockholders  of such  entity  having the right to
exchange  their shares of Common Stock for cash,  securities or other  property,
then the Escrow Agent will, upon receipt of a certificate, executed by the Chief
Executive Officer or Chief Financial Officer of the Company,  in form reasonably
acceptable to the Escrow Agent, that such transaction is then being consummated,
release the Escrow Shares to the Initial  Stockholders  upon consummation of the
transaction so that they can similarly participate.  The Escrow Agent shall have
no further duties  hereunder after the disbursement or destruction of the Escrow
Shares in accordance with this Section 3.

         4. RIGHTS OF INITIAL STOCKHOLDERS IN ESCROW SHARES.

                  4.1 VOTING  RIGHTS AS A  STOCKHOLDER.  Subject to the terms of
the  Insider  Letter  described  in  Section  4.4  hereof  and  except as herein
provided,  the  Initial  Stockholders  shall  retain  all  of  their  rights  as
stockholders  of the  Company  during  the  Escrow  Period,  including,  without
limitation, the right to vote such shares.

                  4.2 DIVIDENDS AND OTHER DISTRIBUTIONS IN RESPECT OF THE ESCROW
SHARES.  During the Escrow Period, all dividends payable in cash with respect to
the Escrow Shares shall be paid to the Initial  Stockholders,  but all dividends
payable in stock or other  non-cash  property  ("Non-Cash  Dividends")  shall be
delivered to the Escrow Agent to hold in accordance  with the terms  hereof.  As
used herein,  the term "Escrow  Shares"  shall be deemed to include the Non-Cash
Dividends distributed thereon, if any.

                  4.3  RESTRICTIONS  ON TRANSFER.  During the Escrow Period,  no
sale,  transfer  or other  disposition  may be made of any or all of the  Escrow
Shares except (i) by gift to a member of Initial Stockholder's  immediate family
or to a trust, the beneficiary of which is an Initial Stockholder or a member of
an Initial Stockholder's immediate family, (ii) by virtue of the laws of descent
and distribution upon death of any Initial  Stockholder,  or (iii) pursuant to a
qualified  domestic  relations order;  PROVIDED,  HOWEVER,  that such permissive
transfers  may be  implemented  only upon the  respective  transferee's  written
agreement to be bound by the terms and  conditions of this  Agreement and of the
Insider Letter signed by the Initial Stockholder transferring the Escrow Shares.
During the Escrow Period,  the Initial  Stockholders shall not pledge or grant a
security  interest  in the Escrow  Shares or grant a security  interest in their
rights under this Agreement.

                  4.4  INSIDER  LETTERS.  Each of the Initial  Stockholders  has
executed a letter  agreement  with EBC and the  Company,  dated as  indicated on
Exhibit A hereto, and which is filed as an exhibit to the Registration Statement
("Insider  Letter"),  respecting  the rights  and  obligations  of such  Initial
Stockholder in certain  events,  including but not limited to the liquidation of
the Company.

         5. CONCERNING THE ESCROW AGENT.

                  5.1 GOOD FAITH RELIANCE.  The Escrow Agent shall not be liable
for any action  taken or omitted by it in good faith and in the  exercise of its
own best judgment,  and may rely  conclusively  and shall be protected in acting
upon any  order,  notice,  demand,  certificate,  opinion  or advice of  counsel
(including counsel chosen by the Escrow Agent), statement, instrument, report or
other paper or document  (not only as to its due  execution and the validity and
effectiveness of its provisions,  but also as to the truth and  acceptability of
any information  therein  contained) which is believed by the Escrow Agent to be
genuine  and to be signed or  presented  by the proper  person or  persons.  The
Escrow  Agent  shall  not be bound  by any  notice  or  demand,  or any  waiver,

                                       2

<PAGE>

modification,  termination or rescission of this Agreement unless evidenced by a
writing delivered to the Escrow Agent signed by the proper party or parties and,
if the duties or rights of the Escrow Agent are  affected,  unless it shall have
given its prior written consent thereto.

                   5.2  INDEMNIFICATION.  The Escrow Agent shall be  indemnified
and held  harmless by the  Company  from and  against  any  expenses,  including
counsel  fees  and  disbursements,  or loss  suffered  by the  Escrow  Agent  in
connection with any action,  suit or other proceeding  involving any claim which
in any way, directly or indirectly,  arises out of or relates to this Agreement,
the  services of the Escrow  Agent  hereunder,  or the Escrow  Shares held by it
hereunder,  other than expenses or losses  arising from the gross  negligence or
willful misconduct of the Escrow Agent. Promptly after the receipt by the Escrow
Agent of notice of any demand or claim or the  commencement of any action,  suit
or  proceeding,  the  Escrow  Agent  shall  notify the other  parties  hereto in
writing.  In the event of the receipt of such notice,  the Escrow Agent,  in its
sole  discretion,  may  commence an action in the nature of  interpleader  in an
appropriate court to determine  ownership or disposition of the Escrow Shares or
it may deposit the Escrow Shares with the clerk of any  appropriate  court or it
may retain the Escrow Shares pending receipt of a final, non-appealable order of
a court having jurisdiction over all of the parties hereto directing to whom and
under what  circumstances  the Escrow Shares are to be disbursed and  delivered.
The  provisions  of this Section 5.2 shall survive in the event the Escrow Agent
resigns or is discharged pursuant to Sections 5.5 or 5.6 below.

                  5.3  COMPENSATION.  The  Escrow  Agent  shall be  entitled  to
reasonable  compensation  from  the  Company  for all  services  rendered  by it
hereunder.  The Escrow  Agent shall also be entitled to  reimbursement  from the
Company for all  expenses  paid or incurred by it in the  administration  of its
duties  hereunder  including,  but not limited to, all  counsel,  advisors'  and
agents' fees and disbursements and all taxes or other governmental charges.

                  5.4  FURTHER  ASSURANCES.  From  time to time on and after the
date hereof, the Company and the Initial  Stockholders shall deliver or cause to
be  delivered to the Escrow Agent such further  documents  and  instruments  and
shall  do or  cause to be done  such  further  acts as the  Escrow  Agent  shall
reasonably  request to carry out more effectively the provisions and purposes of
this Agreement,  to evidence  compliance herewith or to assure itself that it is
protected in acting hereunder.

                  5.5  RESIGNATION.  The Escrow Agent may resign at any time and
be discharged  from its duties as escrow agent hereunder by its giving the other
parties  hereto written notice and such  resignation  shall become  effective as
hereinafter provided.  Such resignation shall become effective at such time that
the Escrow Agent shall turn over to a successor  escrow  agent  appointed by the
Company,  the  Escrow  Shares  held  hereunder.  If no new  escrow  agent  is so
appointed  within  the 60 day  period  following  the  giving of such  notice of
resignation,  the Escrow  Agent may deposit the Escrow  Shares with any court it
reasonably deems appropriate.

                  5.6 DISCHARGE OF ESCROW  AGENT.  The Escrow Agent shall resign
and be discharged  from its duties as escrow agent  hereunder if so requested in
writing at any time by the other parties  hereto,  jointly,  provided,  however,
that such resignation shall become effective only upon acceptance of appointment
by a successor escrow agent as provided in Section 5.5.

                                       3

<PAGE>

                  5.7  LIABILITY.   Notwithstanding   anything   herein  to  the
contrary,  the Escrow Agent shall not be relieved from  liability  hereunder for
its own gross negligence or its own willful misconduct.

         6. MISCELLANEOUS.

                  6.1 GOVERNING  LAW. This  Agreement  shall for all purposes be
deemed to be made under and shall be  construed in  accordance  with the laws of
the State of New York, without giving effect to conflicts of law principles that
would result in the application of the substantive laws of another jurisdiction.

                  6.2   THIRD   PARTY   BENEFICIARIES.   Each  of  the   Initial
Stockholders   hereby   acknowledges  that  the  Underwriters  are  third  party
beneficiaries  of this  Agreement  and this  Agreement  may not be  modified  or
changed without the prior written consent of EBC.

                  6.3  ENTIRE  AGREEMENT.  This  Agreement  contains  the entire
agreement of the parties  hereto with respect to the subject  matter hereof and,
except as expressly provided herein, may not be changed or modified except by an
instrument in writing signed by the party to the charged.

                  6.4 HEADINGS. The headings contained in this Agreement are for
reference  purposes  only  and  shall  not  affect  in any  way the  meaning  or
interpretation thereof.

                  6.5 BINDING  EFFECT.  This Agreement shall be binding upon and
inure  to  the  benefit  of  the  respective  parties  hereto  and  their  legal
representatives, successors and assigns.

                  6.6  NOTICES.  Any notice or other  communication  required or
which  may be given  hereunder  shall be in  writing  and  either  be  delivered
personally or be mailed,  certified or registered  mail, or by private  national
courier service, return receipt requested,  postage prepaid, and shall be deemed
given when so  delivered  personally  or, if mailed,  two days after the date of
mailing, as follows:

                  If to the Company, to:

                           Ithaka Acquisition Corp.
                           100 South Pointe Drive
                           Miami, Florida 33139
                           Attn:    Chairman

                  If to a Stockholder, to his address set forth in Exhibit A.

                  and if to the Escrow Agent, to:

                           Continental Stock Transfer & Trust Company
                           17 Battery Place
                           New York, New York 10004
                           Attn:    Chairman

                  A copy of any notice sent hereunder shall be sent to:

                                       4

<PAGE>

                  and:

                           EarlyBirdCapital, Inc.
                           275 Madison Avenue, Suite 1203
                           New York, New York 10016
                           Attn:    David M. Nussbaum, Chairman

                  and:

                           Graubard Miller
                           The Chrysler Building
                           405 Lexington Avenue
                           New York, New York 10174
                           Attn:    David Alan Miller, Esq.

                  The parties may change the persons and  addresses to which the
notices or other  communications  are to be sent by giving written notice to any
such change in the manner provided herein for giving notice.

                   6.7  LIQUIDATION  OF THE COMPANY.  The Company shall give the
Escrow Agent written  notification  of the  liquidation  and  dissolution of the
Company in the event that the Company fails to consummate a Business Combination
within the time period(s) specified in the Prospectus.

                                       5

<PAGE>

                  WITNESS the  execution of this  Agreement as of the date first
above written.

                                            ITHAKA ACQUISITION CORP.

                                      By:   ______________________________
                                            Paul A. Brooke
                                            Chairman and Chief Executive Officer

                                            INITIAL STOCKHOLDERS:

                                            ---------------------------
                                            Paul A. Brooke

                                            ---------------------------
                                            Eric Hecht

                                            ---------------------------
                                            John M. Glazer

                                            PMSV HOLDINGS LLC

                                            By:________________________________
                                               Name: Paul A. Brooke
                                               Title: Member

                                            CONTINENTAL STOCK TRANSFER
                                              & TRUST COMPANY

                                            By:________________________________
                                               Name:
                                               Title:

                                       6
<PAGE>

                                    EXHIBIT A

<TABLE>
<CAPTION>

NAME AND ADDRESS OF                      NUMBER        STOCK             DATE OF
INITIAL STOCKHOLDER                   OF SHARES  CERTIFICATE NUMBER   INSIDER LETTER
------------------------              ---------  ------------------   --------------
<S>                                   <C>        <C>                  <C>

Paul A. Brooke                          239,062          1,5          April 25, 2005
c/o Ithaka Acquisition Corp.
100 South Pointe Drive, 23rd Floor
Miami, Florida 33139

Eric Hecht                              956,250          2,6          April 25, 2005
c/o Ithaka Acquisition Corp.
100 South Pointe Drive, 23rd Floor
Miami, Florida 33139

John Glazer                             212,500          3,7          April 25, 2005
c/o ATP Management Group LLC
712 Fifth Avenue, 20th Floor
New York, New York 10019

PMSV Holdings LLC                       717,188          4,8          April 25, 2005
c/o Paul A. Brooke
c/o Ithaka Acquisition Corp.
100 South Pointe Drive, 23rd Floor
Miami, Florida 33139

</TABLE>[Certain confidential information in Exhibit 10.111 was  omitted       EXHIBIT
and filed separately with the Securities and Exchange Commission        10.111
("SEC")  with a  request  for  confidential  treatment  by Inter
Parfums,  Inc.]
Licence Agreement

between

Burberry Limited
as Burberry

Inter Parfums, S.A.
as Licensee

and

Inter Parfums, Inc.
as Guarantor

relating to

the development,  production,  manufacture,  marketing, distribution and sale of
certain products

<PAGE>

                                    CONTENTS

1.       INTERPRETATION.......................................................3

2.       GRANT OF LICENCE....................................................15

3.       TERM AND TERMINATION OF THE ORIGINAL LICENCE AGREEMENT..............17

4.       APPROVAL OF LICENSED PRODUCTS.......................................18

5.       RETAILERS AND DISTRIBUTORS..........................................19

6.       LIST PRICES AND RECOMMENDED RETAIL PRICE............................22

7.       APPROVALS...........................................................23

8.       BUSINESS PLAN.......................................................23

9.       CERTAIN ADDITIONAL OBLIGATIONS OF THE LICENSEE......................24

10.      LICENCE FEES........................................................34

11.      REPORTING AND ACCOUNTING............................................39

12.      DEFECTIVE STOCK.....................................................42

13.      PRODUCT RECALL......................................................42

14.      SUPPLY OF LICENSED PRODUCTS TO BURBERRY AND ITS GROUP...............43

15.      ADVERTISING AND MARKETING...........................................44

16.      WARRANTIES AND COMPLIANCE...........................................49

17.      INTELLECTUAL PROPERTY...............................................50

18.      CHANGE IN CONTROL/MANAGEMENT AND COMPETITORS........................55

19.      APPROVED CONTRACTORS................................................55

20.      TERMINATION.........................................................58

21.      CONSEQUENCES OF TERMINATION.........................................61

22.      SELL-OFF PERIOD.....................................................64

23.      GUARANTEE...........................................................65

24.      BUSINESS ETHICS AND ENVIRONMENTAL POLICY............................67

25.      REMEDIES............................................................68

26.      CONFIDENTIALITY.....................................................68

                                       i

<PAGE>

27.      RELATIONSHIP BETWEEN THE PARTIES....................................70

28.      NOTICES.............................................................71

29.      ENTIRE AGREEMENT....................................................71

30.      SEVERABILITY........................................................72

31.      NO WAIVER...........................................................72

32.      NO BROKERAGE FEE....................................................72

33.      COUNTERPARTS........................................................72

34.      NO ASSIGNMENT.......................................................73

35.      GOVERNING LAW AND JURISDICTION......................................73

36.      CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999........................74

APPENDIX A: INFORMATION......................................................75

APPENDIX B: ASSIGNMENT.........................................................

APPENDIX C: APPROVED CONTRACTORS UNDERTAKING...................................

ANNEX TO APPENDIX C............................................................

APPENDIX D: QUESTIONNAIRE......................................................

APPENDIX E: CODE OF BUSINESS PRINCIPLES........................................

APPENDIX F: ENVIRONMENTAL AND SOCIAL RESPONSIBILITY............................

APPENDIX G: BANNED SUBSTANCES..................................................

SCHEDULE 1 : LICENSED TRADE MARKS............................................76

SCHEDULE 2 : LICENSED PRODUCTS...............................................77

SCHEDULE 3 : THE LVMH AGREEMENT..............................................79

SCHEDULE 4 : COMPETING BRANDS................................................90

SCHEDULE 5 : PRESIDENT OF BURBERRY FRAGRANCES................................91

SCHEDULE 6 : MINIMUM LICENCE FEE.............................................92

SCHEDULE 7 : THE DISTRIBUTORS................................................94

                                       ii

<PAGE>

THIS AGREEMENT is dated 12 October 2004 and made

BETWEEN:

(1)      BURBERRY LIMITED, a company incorporated under the laws of England with
         Number 162636 having its registered  office at 18/22 Haymarket,  London
         SW1Y 4DQ ("Burberry");

(2)      INTER PARFUMS,  S.A., a company  incorporated under the laws of France,
         having its principal office at 4, rond point des Champs Elysees,  75008
         Paris, France (the "Licensee"); and

(3)      INTER PARFUMS, INC., a company incorporated under the laws of the State
         of Delaware, USA, having its principal office at 551, Fifth Avenue, New
         York, USA (the "Guarantor").

WHEREAS:-

         (A)      Burberry  wishes to  appoint  the  Licensee  as its  exclusive
                  licensee  for  the   development,   production,   manufacture,
                  marketing,  distribution  and  sale of the  licensed  products
                  under and subject to the terms set out in this Agreement;

         (B)      The parties hereto entered into a licence agreement on 15 July
                  1993  as   subsequently   amended   (the   "Original   Licence
                  Agreement")   which  the   parties   agree   shall   terminate
                  immediately prior to the Effective Date and it is the parties'
                  intention  that this Agreement  replaces the Original  Licence
                  Agreement;

         (C)      Burberry  requires the Guarantor to guarantee and assume joint
                  and several  liability for the  performance  of the Licensee's
                  obligations  under this Agreement and the Guarantor is willing
                  to do so.

IT IS HEREBY AGREED as follows:

1.       INTERPRETATION

1.1      In this  Agreement the following  expressions  shall have the following
         meanings:

         "ACTUAL NET  WHOLESALE  PRICE" means the total price at which  Licensed
         Products  (excluding GWPs) are sold less any sales or similar taxes and
         less any Discounts invoiced, or to be invoiced:

         (A)      by a  Distributor  to a  Retailer,  if the  Distributor  sells
                  directly to a Retailer; or

         (B)      by the Licensee or the Licensee's  Subsidiaries to a Retailer,
                  if the Licensee or the Licensee's  Subsidiaries sells directly
                  to a Retailer;

         "ACTUAL NET  WHOLESALE  SALES"  means the  aggregate  of the Actual Net
         Wholesale  Prices of  Licensed  Products  (excluding  GWPs) sold in the
         relevant  period and a sale shall be deemed to have taken  place on the
         date  on  which  Licensed  Products  are  delivered  Ex-Factory  by the
         Licensee,  a Subsidiary of the Licensee or a  Distributor  (as the case
         may be) to a Retailer;

                                       3
<PAGE>

         "ADDITIONAL BRANDS" shall have the meaning given to that term in clause
         9.24;

         "ADVERTISING"   means  advertising  space  in  newspapers,   magazines,
         television, radio and external billboards, excluding all other forms of
         advertising  including  without  limitation  direct  mail  advertising,
         display,  point of sale and/or promotional materials and also excluding
         Co-operative   Advertising,   and  the  terms   "ADVERTISEMENTS",   and
         "ADVERTISE" shall be construed accordingly;

         "AFFILIATES"  means in respect of any company,  any other company which
         is (a) a Holding  Company of such former  company;  (b) a Subsidiary of
         such  former  company;  or (c) under  common  control  with such former
         company,  but for the purposes of clauses 5.14, 9.34, 9.36, 18.4, 19.5,
         21.1(E),  21.1(F) and for the definition of Licensee's  Group in clause
         1.1 shall not, in respect of the Licensee and/or the Guarantor, include
         LVMH Moet Hennessy Louis Vuitton SA;

         "ANNUAL  ACCOUNT",  "MONTHLY  ACCOUNT",   "QUARTERLY  ACCOUNT",  "FINAL
         ACCOUNT"  and  shall  have  the  respective  meanings  given  to  those
         expressions  in  clause  11,  and  "ACCOUNT"  shall  mean  any  of  the
         foregoing;

         "APPROVAL"   means  prior   written   approval,   which  shall  not  be
         unreasonably  withheld or  delayed,  given on behalf of Burberry by the
         Authorised   Business    Representative   or   the   Authorised   Legal
         Representative  (as the  case  may be) or other  person  authorised  in
         writing by the  Authorised  Business  Representative  or the Authorised
         Legal  Representative  respectively  and the granting or withholding of
         such  approval,  and/or any  limitations,  reservations  or  conditions
         applicable  thereto being at Burberry's  sole discretion and "APPROVED"
         means the object of any  Approval or that  Approval  has been given (as
         appropriate)  and "Approve" means the verb of Approval or the action of
         granting Approval;

         "APPROVED  CONTRACTOR" means any person, firm or company appointed as a
         contractor  to  carry  out  work on  behalf  of the  Licensee  which is
         Approved  in  accordance  with  clause  19 or  which  was  approved  in
         accordance with the Original  Licence  Agreement prior to the Effective
         Date;

         "AUTHORISED  BUSINESS  REPRESENTATIVE"  means  the Chief  Executive  or
         President of Burberry or any person appointed by the Chief Executive or
         President of Burberry from time to time to fulfil such a function;

         "AUTHORISED LEGAL REPRESENTATIVE" means the General Counsel of Burberry
         or any person appointed by the General Counsel of Burberry from time to
         time to fulfil such a function;

         "BABY  PRODUCTS"  shall  mean  all  Licensed  Products  which  are baby
         fragrance  products,  details  of which are set out in  paragraph  D of
         schedule 2;

         "BASE INDEX" shall have the meaning given to that term in clause 10.9;

         "BURBERRY  AGENTS" means Burberry's agents and its employed sales force
         from  time to time  authorised  by  Burberry  to  take  orders  for the
         Licensed Products on behalf of the Licensee from Retailers;

         "BURBERRY  FRAGRANCES"  means an operating  or trading  division of the
         Licensee described in clause 9.38;

                                       4
<PAGE>

         "BURBERRY GROUP" means Burberry and its Affiliates from time to time;

         "BURBERRY INTELLECTUAL PROPERTY" means:

         (A)      all trade marks and designs registered (or applied for) in the
                  name of  Burberry  anywhere  in the  world  from  time to time
                  including without  limitation the Licensed Trade Marks and any
                  Varied  Trade  Names  and New  Trade  Names  which  have  been
                  registered;

         (B)      all other  trading  names,  brand  names  and/or  trade  marks
                  (whether  registered  or not) which have been and/or which are
                  used  and/or  owned  by  Burberry  from  time to time in which
                  Burberry  from time to time is  entitled  to claim any  rights
                  including  without  limitation the Licensed  Trade Marks,  any
                  Varied Trade Names and any New Trade Names;

         (C)      all designs (whether registered or not) which have been and/or
                  which are used and/or  owned by Burberry  from time to time in
                  which it is entitled to claim any  rights,  including  but not
                  limited to check designs in whatever size, in whatever colour,
                  in whatever pattern and in whatever material;

         (D)      any works in which  copyright  vests in Burberry  from time to
                  time;

         (E)      all  patents and patent  applications  in the name of Burberry
                  from time to time; and

         (F)      all other  Intellectual  Property  Rights  which are stated to
                  vest in Burberry in clause 17.

         "BURBERRY ITEMS" means all and any Licensed Products, raw materials and
         components  for Licensed  Products  bearing any  Burberry  Intellectual
         Property,  and all and any stationery,  advertising materials and other
         materials of any kind which bear any Burberry Intellectual Property;

         "BURBERRY REPRESENTATIVES" means representatives of Burberry including,
         without limitation, an employee of any member of the Burberry Group and
         any Burberry Agent;

         "BURBERRY  STORE" means any separate  "Burberry"  branded  retail store
         (including without limitation a retail concession) owned,  operated, or
         otherwise occupied by any member of the Burberry Group or operated by a
         third party  pursuant to any  franchise  or other right  granted by any
         member of the Burberry Group;

         "BURBERRY  WEBSITE" means any website,  operated (directly or through a
         third party) by any member of the Burberry  Group,  distributed via the
         Internet, which relates to the sale of Burberry branded products;

         "BUSINESS PLAN" means the business plan proposed for each Licensed Year
         pursuant to clause 8, which term shall include the Marketing Plan;

         "CHANGE OF CONTROL" means:

         (A) in respect of the Licensee, when:

                                       5
<PAGE>

                  (i)      the   Guarantor   ceases   to   hold   a   percentage
                           shareholding  equal  to or  greater  than  25% of the
                           beneficial  interest in the issued  share  capital in
                           the Licensee; or

                  (ii)     any person or persons  acting  together  acquire(s) a
                           percentage  shareholding equal to or greater than 32%
                           of  the  beneficial  interest  in  the  issued  share
                           capital in the Licensee; or

                  (iii)    the  Guarantor  ceases to hold voting rights equal to
                           or  greater  than  25% of the  voting  rights  in the
                           Licensee; or

                  (iv)     any  person or  persons  acting  together  acquire(s)
                           voting  rights  equal to or  greater  than 32% of the
                           voting rights in the Licensee; or

                  (v)      any person or persons  acting  together  acquire(s) a
                           percentage shareholding of the beneficial interest in
                           the issued share capital of the Licensee  equal to or
                           greater than that of the Guarantor;or

                  (vi)     any  person or  persons  acting  together  acquire(s)
                           voting  rights in the  Licensee  equal to or  greater
                           than the voting  rights in the  Licensee  held by the
                           Guarantor; or

                  (vii)    there is a Change of Management Control;

         (B) In respect of the Guarantor, when:

                  (i)      Philippe  Benacin  and Jean Madar  together  cease to
                           hold a  percentage  shareholding  equal to or greater
                           than 25% of the  beneficial  interest  in the  issued
                           share capital in the Guarantor; or

                  (ii)     any person or persons  acting  together  (other  than
                           Philippe   Benacin  and  Jean  Madar)   acquire(s)  a
                           percentage  shareholding  greater  than  32%  of  the
                           beneficial  interest in the issued  share  capital in
                           the Guarantor; or

                  (iii)    Philippe  Benacin  and Jean Madar  together  cease to
                           hold voting  rights  equal to or greater  than 25% of
                           the voting rights in the Guarantor; or

                  (iv)     any person or persons  acting  together  (other  than
                           Philippe  Benacin and Jean Madar)  acquire(s)  voting
                           rights  equal to or  greater  than 32% of the  voting
                           rights in the Guarantor; or

                  (v)      any person or persons  acting  together  acquire(s) a
                           percentage shareholding of the beneficial interest in
                           the issued  share  capital of the  Guarantor  of more
                           than Philippe Benacin and Jean Madar; or

                  (vi)     any  person or  persons  acting  together  acquire(s)
                           voting  rights in the  Guarantor  equal to or greater
                           than  the  voting  rights  in the  Guarantor  held by
                           Philippe Benacin and Jean Madar; or

                  (vii)    there is a Change of Management Control;

                                       6
<PAGE>

         "CHANGE OF MANAGEMENT CONTROL"  means

         (A)      in respect of the Licensee, when :

                  (i)      the Guarantor  ceases to hold  Management  Control of
                           the Licensee; or

                  (ii)     any person or persons  acting  together  (other  than
                           Philippe   Benacin  and  Jean   Madar)   subsequently
                           acquires Management Control of the Licensee; or

                  (iii)    there  is a  Change  of  Control  of  the  Guarantor,
                           pursuant to clause (B) below; or

                  (iv)     either or both  Philippe  Benacin or Jean Madar cease
                           to be a director  or both  Philippe  Benacin and Jean
                           Madar cease to be governing officers or both cease to
                           hold  their  current  management   positions  of  the
                           Licensee save that if due to:

                          (a) the death or permanent incapacity of; or

                          (b) serious breach of fiduciary duty or misconduct by,

                          Philippe   Benacin  or  Jean  Madar  (but  not  both),
                          Philippe  Benacin  or Jean  Madar (as the case may be)
                          ceases to be a director or other governing  officer of
                          the Licensee, such event shall not constitute a change
                          of Management Control of the Licensee.

         (B)      in respect of the Guarantor, when:

                  (i)      Philippe   Benacin  and  Jean  Madar  cease  to  hold
                           Management Control of it; or

                  (ii)     if  any  person  or  persons   together  (other  than
                           Philippe   Benacin   and   Jean   Madar)   acquire(s)
                           Management Control of the Guarantor; or

                  (iii)    either  or both of  Philippe  Benacin  or Jean  Madar
                           cease to be a director or both  Philippe  Benacin and
                           Jean Madar  cease to be  governing  officers  or both
                           cease to hold their current  management  positions of
                           the Guarantor save that if due to:

                          (a) the death or permanent incapacity of; or

                          (b) serious breach or fiduciary duty or misconduct by,

                          Philippe   Benacin  or  Jean  Madar  (but  not  both),
                          Philippe  Benacin  or Jean  Madar (as the case may be)
                          ceases to be a director or other governing  officer of
                          the  Guarantor  such  events  shall not  constitute  a
                          change of Management Control of the Guarantor.

         "COMPETING BRANDS" means the brands set out in schedule 4;

         "COMPETITOR"  means any person or any Affiliate  thereof whose business
         or any  material  part  thereof  consists of  manufacturing  or selling
         products bearing Competing Brands;

                                       7
<PAGE>

         "CO-OPERATIVE  ADVERTISING"  means advertising of the Licensed Products
         by the Licensee in  magazines  and store  catalogues  produced by or on
         behalf of Retailers which is Approved;

         "DEFECTIVE  STOCK" means second quality,  defective or damaged Licensed
         Products;

         "DIRECT  PRODUCTION COSTS" means all direct production costs in respect
         of  Advertising,  including  but  without  limitation,  costs of models
         (including  their expenses and respective  agency fees  photographs and
         their usage rights, and;

         "DISCOUNT"  means any standard and  customary  discount  (which for the
         avoidance  of doubt shall not include any  discount for early or prompt
         payment of any invoice)  against List Price which a Retailer is allowed
         in respect of a Licensed Product on all sales of Licensed Products save
         that such discount by value of sales in the  Territory  (solely for the
         purposes   of    calculating    Licence    Fees)   shall   not   exceed
         [------------------](1)  of the List  Price  less any sales or  similar
         taxes at which the Licensed Products (excluding GWPS) are sold.

         "DISTRIBUTORS"  means  distributors or Subsidiaries of the Licensee who
         are  appointed by the Licensee to sell  Licensed  Products to Retailers
         and who are Approved pursuant to clause 5.1;

         "EFFECTIVE DATE" means 1 July 2004;

         "ENCUMBRANCE"   shall  mean  any  interest  or  equity  of  any  person
         (including,  without limitation,  any right to acquire, option or right
         of  pre-emption);  any  mortgage,  charge,  pledge,  lien,  assignment,
         hypothecation,  security interest (including any created by law), title
         retention or other security  agreement or arrangement;  and any rental,
         hire  purchase,  credit  or  conditional  sale or other  agreement  for
         payment on deferred terms;

         "ENVIRONMENTAL  AND SOCIAL POLICY" means Burberry's  environmental  and
         social  policy  attached  hereto at  appendix F (as such  policy may be
         updated  by  Burberry  from time to time,  provided  that the  Licensee
         receives advance notice from Burberry of such updating);

         "ESTIMATED MAJOR MARKET SALES" means, in respect of:

         (A)      sales  of  Licensed   Products  by  the  Licensee  whether  to
                  Distributors or to Retailers in the Major Markets; and

         (B)      sales  of  Licensed  Products  by the  Licensee  to duty  free
                  Retailers in the Territory,

         the  value  of all  such  sales  of  Licensed  Products  calculated  by
         reference to the  Licensee's  best estimate of the relevant  Actual Net
         Wholesale  Prices  where such sale shall be deemed to have taken  place
         when the Licensed  Product is delivered  Ex-Factory  to the Retailer or
         Distributor as the case may be;

         "ESTIMATED MONTHLY LICENCE FEE" means:

--------------
(1)  CONFIDENTIAL  INFORMATION  OMITTED AND FILED SEPARATELY WITH THE SEC WITH A
     REQUEST FOR CONFIDENTIAL TREATMENT BY INTER PARFUMS, INC. NO. 10.111:1.

                                       8
<PAGE>

         (A)      [-----](2)  of  Estimated  Major  Market Sales in the relevant
                  Month; and

         (B)      [-----](3)  of Estimated  Other  Markets Sales in the relevant
                  Month,

         provided  that  if the  Estimated  Monthly  Licence  Fee is  less  than
         one-twelfth  of the Minimum  Licence  Fee  applicable  in the  relevant
         Licensed Year (the  "Applicable  Licence Fee"),  the Estimated  Monthly
         Licence Fee shall be the Applicable Licence Fee;

         "ESTIMATED  OTHER MARKET SALES" means,  in respect of sales of Licensed
         Products by the Licensee whether to Distributors or to Retailers in the
         Other  Markets  (other  than sales of  Licensed  Products  to duty free
         Retailers  in the  Territory),  the value of all such sales of Licensed
         Products calculated by reference to the Licensee's best estimate of the
         relevant Actual Net Wholesale Prices where such sale shall be deemed to
         have taken place when the Licensed  Product is delivered  Ex-Factory to
         the Retailer or Distributor as the case may be;

         "EXCLUDED STORES" means:

         (A)      any Burberry Store;

         (B)      any Burberry Website; or

         (C)      any mail order operation of any member of the Burberry Group;

         "EXCLUSIVITY" has the meaning given in clause 2.5 and "EXCLUSIVE" shall
         be construed accordingly;

         "EX-FACTORY"  means  ex-works as such term is defined by the  Incoterms
         2000;

         "EX-FACTORY  PRICE" means the price at which Licensed Products are sold
         by the  Licensee to  Distributors  (net of any sales taxes only) in the
         currency in which the Licensee invoices Distributors;

         "FACTORY"  means  any  factories  wholly  owned  and  controlled  by an
         Approved  Contractor or the Licensee and which has been Approved or may
         be Approved from time to time or which were approved in accordance with
         the Original Licence Agreement prior to the Effective Date;

         "FORMULAE"  means any and all of the  formulae,  lists of  ingredients,
         technical  information,  recipes,  processes and instructions  (held in
         whatever form) reasonably  necessary to enable the Licensed Products to
         be manufactured from time to time;

         "GWP" means products which are not Products:

         (A)      bearing Burberry Intellectual Property; and

---------------
(2)  CONFIDENTIAL  INFORMATION  OMITTED AND FILED SEPARATELY WITH THE SEC WITH A
     REQUEST FOR CONFIDENTIAL TREATMENT BY INTER PARFUMS, INC. NO. 10.111:2.

(3)  CONFIDENTIAL  INFORMATION  OMITTED AND FILED SEPARATELY WITH THE SEC WITH A
     REQUEST FOR CONFIDENTIAL TREATMENT BY INTER PARFUMS, INC. NO. 10.111:3.

                                       9
<PAGE>

         (B)      which are in all  respects of a type and  specification  which
                  have been  specifically  Approved for manufacture,  supply and
                  sale under this Agreement; and

         (C)      which are intended to be given by Retailers to consumers  upon
                  the purchase of a Licensed Product;

         "HOLDING  COMPANY" means, in respect of any company,  any other company
         of which such company is a Subsidiary;

         "INDEX" means, in respect of any Month, the HICP (Harmonised  Index for
         Consumer Prices) European Index of Consumer Prices for the countries of
         the European Union  denominated  in Euros,  or any amended or successor
         index which includes any  additional  European  Union  jurisdiction  or
         countries;

         "INTELLECTUAL PROPERTY RIGHTS" means all patents,  copyright,  database
         rights,  design rights,  trade marks,  service  marks,  rights in trade
         dress and  rights of  confidence  in  relation  to any  information  or
         know-how,  in any case whether  registered or unregistered,  along with
         any applications for  registration  thereof,  and along with any rights
         similar or analogous thereto in any part of the world;

         "INTERNET"  means the global  data  network  comprising  interconnected
         networks   using  TCP/IP   ("Transmission   Control   Protocol/Internet
         Protocol");

         "LARGE  RETAILERS"  means  a list of no more  than 50  Retailers  to be
         notified by Burberry to the Licensee from time to time, such list to be
         reviewed  annually by Burberry and for the avoidance of doubt, the term
         "Retailer"  includes (subject to clause 5.2) a Retailer which trades at
         a number of retail outlets;

         "LAUNCH  PRODUCT"  means a  Licensed  Product  which is being  marketed
         and/or sold in any part of the Territory for the first time;

         "LICENCE FEE" means the licence fee payable by the Licensee to Burberry
         calculated in accordance with clause 10;

         "LICENCE RIGHTS" means the rights granted to the Licensee under clauses
         2.1 and 2.3;

         "LICENSED  PRODUCTS"  means such products as are  manufactured or to be
         manufactured by the Licensee or by an Approved Contractor which:

         (A)      are Products which:

                  (1)      feature  the  Licensed  Trade Marks and such other of
                           the   Burberry   Intellectual   Property  as  may  be
                           Approved;

                  (2)      are in all respects of a type and specification which
                           have  been  specifically  Approved  for  manufacture,
                           supply and sale under this Agreement; and

         (B)      are  Products  which  were  approved  in  accordance  with the
                  Original Licence Agreement prior to the Effective Date; and

         (C)      GWPs;

                                       10
<PAGE>

         "LICENSED  TRADE MARKS" means the trade marks of Burberry  described in
         schedule 1  (excluding  any such trade marks as  Burberry  from time to
         time notifies to the Licensee as being withdrawn therefrom by reason of
         Burberry no longer intending to maintain the registration of such trade
         marks in the Territory or any part thereof  because in the sole opinion
         of Burberry such  registration is no longer necessary in the Territory)
         and  Varied  Trade  Names and New Trade  Names  but  excludes,  for the
         avoidance of doubt,  any other trade marks,  graphic  signs or symbols,
         whether  related  to or  comprising  elements  of such  trade  marks or
         otherwise  which are at any time  acquired  or used by  Burberry or any
         member of the Burberry Group;

         "LICENSED  YEAR"  means  each  calendar  year  during  the term of this
         Agreement  except that the first Licensed Year shall be the period from
         and including  the Effective  Date up to and including 31 December 2004
         and the last  Licensed  Year shall be the period  from and  including 1
         January in the last Licensed  Year up to and including the  termination
         date, and "LICENSED YEARLY" shall be construed accordingly;

         "LICENSEE'S  GROUP" means the Licensee and its Affiliates  from time to
         time;

         "LIST  PRICE"  means the total price (net of any sales  taxes) at which
         Licensed   Products  are  intended  to  be  sold  by  the  Licensee  or
         Distributors to Retailers which shall be:

         (A)      exclusive  of  any  settlement  discount  or  other  discount,
                  allowance or rebate which the Licensee or any  Distributor may
                  allow any particular Distributor or Retailer; and

         (B)      in the currency in which the Retailers are invoiced;

         provided,  however,  if the  maximum  price  which  is  charged  by the
         Licensee, or Distributors to Retailers for the Licensed Products in the
         relevant  jurisdiction  in the Territory is higher than such price then
         the List Price shall be the maximum price as aforesaid.

         "LVMH AGREEMENT" means the agreement set out at schedule 3;

         "MAJOR MARKETS" means France,  Spain,  Germany,  Italy,  U.K.,  U.S.A.,
         Japan,  the People's  Republic of China,  Hong Kong and South Korea and
         any other countries which individually  account for more than 5% of all
         Actual Net Wholesale Sales made in any Licensed Year;

         "MANAGEMENT CONTROL" means the possession,  directly or indirectly,  of
         the  right or  power to cause  the  direction  of the  management  of a
         business by means of shares,  contract or otherwise  and in  particular
         (without  limitation)  in respect of the Licensee or the  Guarantor the
         ability  to  appoint  more than  one-third  of the  directors  or other
         governing   officers  of  the  Licensee   and/or  the  Guarantor  shall
         constitute Management Control of the Licensee and/or the Guarantor,  as
         the case may be.

         "MARKETING PLAN" shall have the meaning given to that term in clause 8;

         "MINIMUM  LICENCE FEE" means the minimum Licence Fee that is to be paid
         by the Licensee to Burberry in respect of each Licensed  Year,  details
         of which are set out in Part A of schedule 6;

                                       11
<PAGE>

         "MINIMUM NET  WHOLESALE  SALES" means the minimum  Actual Net Wholesale
         Sales to be made by the  Licensee  from 1 January  2008 to 31  December
         2008 and from 1 January 2012 to 31 December  2012 as set out in clauses
         10.7 and 10.8 respectively,  and for every other Licensed Year shall be
         the amounts set out in Part B of schedule 6, which is headed "Marketing
         Threshold Sales";

         "MONTH" means a calendar month, save that:

         (A)      the  first  Month  of this  Agreement  shall  commence  on the
                  Effective  Date and end on the last day of the calendar  month
                  in which the Effective Date falls; and

         (B)      the final Month of this Agreement  shall commence on the first
                  day of the calendar  month in which the date of termination of
                  this  Agreement  falls and end on the date that this Agreement
                  terminates,

         and "MONTHLY" shall have the corresponding meaning;

         "NEW TRADE NAMES" shall have the meaning given to it in clause 17.12;

         "ORIGINAL LICENCE  AGREEMENT" means the licence agreement dated 15 July
         1993 (as amended) made between the parties;

         "OTHER MARKETS" means all jurisdictions in the Territory other than the
         Major Markets;

         "PACKAGING"  means  all  packaging  and  components  for  packaging  of
         Licensed Products,  excluding bottles and caps but including labels and
         any other words,  signs,  symbols or marks which are fixed,  printed or
         reproduced thereon;

         "PLAN DATE" shall have the meaning given to that term in clause 8;

         "POISON  CONTROL  CENTRE"  means  any  competent   authority,   whether
         supranational, national, regional or local, with responsibility for the
         control of poisons or the provision of  toxicological  information  and
         advice;

         "PRESIDENT OF BURBERRY  FRAGRANCES"  means the position of president of
         Burberry Fragrances as described in clause 9.41 and schedule 5;

         "PROCEDURES"  shall  have  the  meaning  given to that  term in  clause
         9.30(C);

         "PRODUCTS" means the products  (including the Packaging and bottles and
         caps for such products) which are described in schedule 2;

         "PROMOTION"  means all forms of  promotion  and  marketing  (including,
         without  limitation,  any  Co-operative  Advertising  or  promotion  or
         marketing  at any  trade  show)  excluding  Advertising  and the  terms
         "PROMOTE",  "PROMOTIONAL MATERIALS" and "PROMOTIONAL  ACTIVITIES" shall
         be construed accordingly;

         "PROJECTED SALES" means the Actual Net Wholesale Sales projected in the
         Business Plan in the relevant part of the Territory;

         "QUARTER" means a period of three consecutive Months, save that:

                                       12
<PAGE>

         (A)      the first  Quarter of this  Agreement  shall  commence  on the
                  Effective Date and end on 30 September 2004; and

         (B)      the  final  Quarter  of  this  Agreement   shall  commence  on
                  whichever  of 1  January,  1  April,  1 July or 1  October  is
                  closest to the date on which  this  Agreement  terminates  and
                  shall end on the date that this Agreement terminates,

         and "QUARTERLY" shall have the corresponding meaning;

         "QUESTIONNAIRE"   means  an  environmental  and  social  responsibility
         questionnaire  signed by an Approved  Contractor,  the current  form of
         which is set out in appendix D;

         "RECOMMENDED RETAIL PRICE" or "RRP" means :

         (A)      the recommended retail price, if any, of each Licensed Product
                  applicable in each jurisdiction in the Territory; or

         (B)      where,  in any  particular  jurisdiction,  recommended  retail
                  prices are not permissible under local law, the List Price for
                  that  jurisdiction  together with the mark up customarily used
                  in the relevant jurisdiction to arrive at the retail price.

         "RETAILER"  shall mean any retailer  and/or  retail  outlet  within the
         Territory  Approved  pursuant  to clause 5.1 which  will sell  Licensed
         Products to consumers in the  Territory  for personal use either (i) at
         the  Licensee's  discretion  subject to clause 5, or (ii) at Burberry's
         own initiative  (including without limitation Burberry Stores which the
         Licensee  has been  requested to supply in  accordance  with clause 14)
         provided that the Licensee shall not be required to obtain Approval for
         the  retailers  supplied by the Licensee  prior to the  Effective  Date
         under the Original Licence Agreement until 1 January 2005;

         "RETURNED" means:

         (A)      in  respect  of  any  Licensed  Products  manufactured  by any
                  Approved  Contractor,  those products which have been returned
                  (for whatever reason) by the Licensee to the relevant Approved
                  Contractor; and

         (B)      in  respect  of  any  Licensed  Products  manufactured  by any
                  Approved  Contractor or by the Licensee,  those products which
                  have been returned by a Retailer, Distributor, Burberry or any
                  member of the Burberry Group;

         "SELL-OFF  PERIOD"  shall have the meaning given to that term in clause
         22.1;

         "SUBSIDIARY" means, in respect of any company, any other company:

         (A)      in which such  former  company  holds a majority of the voting
                  rights; or

         (B)      in which such former  company  owns any stock or shares and in
                  respect  of which  such  company  has the right to  appoint or
                  remove a majority of its board of directors or other  managing
                  body; or

                                       13
<PAGE>

         (C)      in which such former  company  owns any stock or shares and in
                  which such  former  company  controls a majority of the voting
                  rights,  pursuant to an agreement with other  stockholders  or
                  shareholders; or

         (D)      which is either  directly or indirectly  controlled in any way
                  by such former company,

         and shall  include any company which is a Subsidiary of a Subsidiary of
         such former company according to the foregoing definition;

         "TERM" means,  subject to clause 20 of this Agreement,  the period from
         the  Effective  Date to 31 December  2016,  save that if the parties so
         agree prior to 31 December  2014 the  Agreement  may be extended  for a
         further 5 years until 31  December  2021 but in the absence of any such
         agreement  by 31 December  2014 this  Agreement  shall  terminate on 31
         December 2016;

         "TERRITORY" means the world;

         "TESTERS"  means testers,  minis and/or  samples of Licensed  Products,
         other than GWPs;

         "UNDERTAKING"  means an undertaking  in Burberry's  favour signed by an
         Approved  Contractor,  the current form of which is set out in appendix
         C;

         "VARIED TRADE NAME" shall have the meaning given to it in clause 17.12;

         "WORKING  DAY" shall mean any day on which banks are open for  business
         in London, England other than a Saturday or Sunday.

1.2      In this Agreement where the context admits references to:

         (A)      the "Agreement" or to any other agreement or document referred
                  to in  this  Agreement  mean  this  agreement  or  such  other
                  agreement  or  document  as  amended,  varied,   supplemented,
                  modified  or  novated  from  time to  time  and  includes  the
                  appendices and schedules hereto;

         (B)      a "person"  include any individual,  company,  body corporate,
                  corporation sole or aggregate,  government, state or agency of
                  a  state,  firm,  partnership,   joint  venture,  association,
                  organisation  or trust (in each  case,  whether  or not having
                  separate   legal   personality   and   irrespective   of   the
                  jurisdiction in or under the law of which it was  incorporated
                  or exists)  and a  reference  to any of them  shall  include a
                  reference to the others;

         (C)      clause(s),   sub-clause(s),   appendice(s),   schedule(s)  and
                  parties  are  references  to  clauses  and   sub-clauses   of,
                  appendices  to,  schedules  of and parties to this  Agreement,
                  respectively;

         (D)      the singular  includes  the plural and vice versa  (unless the
                  context requires otherwise);

         (E)      any one gender includes the other gender;

         (F)      any  statutory  provision or enactment or any provision of any
                  treaty,   legislation,    statute,   directive,    regulation,
                  judgement, decision, decree, order, instrument, by-law, or any

                                       14
<PAGE>

                  other law of or having effect in any jurisdiction "LAWS" shall
                  be construed  also as  references to all other Laws made under
                  the  Law  referred  to,  and  to all  such  Laws  as  amended,
                  re-enacted,  consolidated or replaced, or as their application
                  is  modified  by other  Laws  from time to time,  and  whether
                  before or after the date of this Agreement;

         (G)      references  to any party include any person who at any time is
                  entitled,   by   assignment,   novation,   merger,   division,
                  reconstruction,  reorganisation or otherwise,  to that party's
                  rights under this  Agreement or any interest in those  rights,
                  or  who,  as  an  insolvency  practitioner  or  otherwise,  is
                  entitled  to  exercise  those  rights  (and,  in the case of a
                  novation or similar  event,  references  herein to any party's
                  rights  shall  include  the  novated  rights to which  another
                  person is entitled as a result of that event); and

         (H)      Burberry giving any form of notice,  notification,  consent or
                  agreement   shall   be   construed   so  that   such   notice,
                  notification, consent or agreement shall only be validly given
                  by Burberry if in writing  signed by the  Authorised  Business
                  Representative or the Authorised Legal Representative.

1.3      JOINT AND SEVERAL LIABILITY

         All warranties, representations, indemnities, covenants, agreements and
         obligations  given or  entered  into by more  than one  person  in this
         Agreement are given or entered into jointly and severally.

1.4      HEADINGS

         The headings and  sub-headings  are inserted for  convenience  only and
         shall not affect the construction of this Agreement.

1.5      SCHEDULES AND APPENDICES

         Each of the schedules and appendices shall have effect as if set out in
         this Agreement.

2.       GRANT OF LICENCE

         TO MANUFACTURE

2.1      Subject  always to clause  2.6  below,  Burberry  hereby  grants to the
         Licensee,  subject to the terms and  conditions  of this  Agreement,  a
         personal,  non-transferable  and  Exclusive  (other  than in respect of
         GWPs) licence:

         (A)      to develop,  and to produce and manufacture  Licensed Products
                  at the  Factory  strictly  in  accordance  with  the  type and
                  specifications from time to time Approved and to use:

                  (i)      the  Licensed  Trade  Marks  in  connection  with the
                           Products;

                  (ii)     such  other  parts  of  the   Burberry   Intellectual
                           Property,  including the Formulae, as may be Approved
                           from  time  to time  only  for  the  purpose  of such
                           manufacture; and

                                       15
<PAGE>

         (B)      to use such  information as may at Burberry's  sole discretion
                  from  time to time be  provided  by  Burberry  concerning  the
                  development,  production  and  manufacture  of products of the
                  same  type  of  merchandise  as the  Licensed  Products,  such
                  information   to  be  used   only  in   connection   with  the
                  development,   production  and  manufacture  of  the  Licensed
                  Products  and such  information  shall  be know how and  trade
                  secret information of Burberry and subject to clause 26,

         and all  goodwill  howsoever  arising from all such use shall accrue to
         Burberry.

2.2      The  use  in  respect  of  any   Licensed   Products  of  any  Burberry
         Intellectual  Property pursuant to clause 2.1(A)(ii) in addition to the
         Licensed  Trade Marks shall be limited to its use as Approved  pursuant
         to  clause  2.1(A)(ii)  which  Approval  shall  be in  addition  to the
         Approval  required pursuant to clause 2.1(A)(i) and shall be limited to
         the single Product for which such Approval was specifically given.

         TO SELL

2.3      Burberry  hereby  grants  to the  Licensee  subject  to the  terms  and
         conditions  of  this  Agreement,   a  personal,   non-transferable  and
         Exclusive (other than in respect of GWPs) licence:

         (A)      to  market,  distribute  and  sell in the  Territory  Licensed
                  Products to  Retailers  either  directly  or through  Burberry
                  Representatives or Distributors PROVIDED THAT:

                  (1)      nothing in this Agreement:

                           (a)      entitles  the  Licensee  to  establish   and
                                    operate; or

                           (b)      restricts  Burberry  or any other  member of
                                    the  Burberry  Group from  establishing  and
                                    operating  or  granting  any third party the
                                    right to establish and operate,

                           Burberry  Stores  and/or a  Burberry  Website  in the
                           Territory; and

                  (2)      subject  to  clause  14,  nothing  shall be deemed to
                           grant any distribution rights to Licensed Products to
                           Burberry or any other member of the  Burberry  Group;
                           and

         (B)      to use such Burberry Intellectual Property in such a manner as
                  is specifically  Approved but in any event only in relation to
                  the marketing, distribution and sale of the Licensed Products,

         and  all  goodwill   howsoever   arising   from  all  such   marketing,
         distribution and sales and use shall accrue to Burberry.

2.4      The  Licensee  shall  consider  in good faith such  factors as Burberry
         considers  relevant  to the  marketing,  distribution  and  sale of the
         Licensed Products within the Territory.

2.5      Except as  otherwise  provided in this  Agreement,  Burberry  shall not
         during the Term:

         (A)      market, distribute and sell; or

                                       16
<PAGE>

         (B)      license any person (including any other member of the Burberry
                  Group) other than the Licensee to market, distribute and sell,
                  or

         (C)      develop,   produce  and  manufacture  or  license  any  person
                  (including any other member of the Burberry  Group) other than
                  the Licensee to develop, produce and manufacture,  except with
                  the prior approval of the Licensee,

         in the Territory any Products  bearing the Licensed  Trade Marks except
         for the purposes of sales to and by Excluded Stores, the restriction in
         this clause 2.5 being referred to as "Exclusivity"  and clauses 2.1 and
         2.3 shall be construed accordingly.

         In the event that Burberry requests the Licensee to manufacture  and/or
         supply Products (including without limitation limited production items)
         to the Excluded Stores ("Excluded  Products") and the Licensee does not
         confirm its  agreement to do so within 28 days of  Burberry's  request,
         the  provisions  of this  clause  2.5 shall not  apply to  Burberry  in
         respect of such Excluded Products.

2.6      Notwithstanding  clause 2.1 above and without  prejudice to clauses 2.3
         and 2.5(A) and (B),  Burberry may at any time notify the Licensee  that
         it has reasonable  grounds to believe it might terminate this Agreement
         at a future date, whether pursuant to the provisions of clause 20 or by
         reason of the expiry of the Term  provided that in the case of possible
         termination  pursuant  to  clause  20 such  notice  shall be given  not
         earlier than 18 months before the possible  termination  date and shall
         specify  the grounds  relied on by  Burberry.  Burberry  shall have the
         right,  and the other  members  of the  Burberry  Group  shall have the
         right, forthwith from the date of such notification to develop, produce
         and  manufacture  or have  developed,  produced  and  manufactured  any
         Products whether or not bearing any Burberry  Intellectual  Property in
         the Territory.

         NO SUB-LICENSING

2.7      Subject to the Licensee's  right to appoint  Distributors in accordance
         with clause 5, the Licence Rights are  non-transferable and personal to
         the  Licensee  accordingly  and  without  prejudice  to clause  34, the
         Licensee shall not have any rights to grant  sub-licences in respect of
         all or any part of the Licence Rights and accordingly only the Licensee
         is entitled to develop,  produce and manufacture pursuant to clause 2.1
         and only the  Licensee  is  entitled  to  market,  distribute  and sell
         pursuant to clause 2.3.

2.8      The rights  granted  under this  Agreement  are granted to the Licensee
         only and no members of the Licensee's Group (other than those which are
         Distributors)  shall be entitled to exercise the rights  granted to the
         Licensee. In addition, without prejudice to the foregoing, the Licensee
         shall procure that no company within the Licensee's Group does anything
         which is contrary to the Licensee's obligations under this Agreement.

2.9      Burberry is entitled  and shall be in no way  restricted  from doing or
         causing to be done anything which is not expressly prohibited by clause
         2.5.

                                       17
<PAGE>

3.       TERM AND TERMINATION OF THE ORIGINAL LICENCE AGREEMENT

3.1      This Agreement  shall come into force on the Effective Date and, unless
         terminated as provided for in this  Agreement,  shall continue in force
         until the expiry of the Term, when it shall automatically terminate.

3.2      The Original Licence Agreement shall, subject to clause 15.1, terminate
         immediately prior to the Effective Date.

3.3      The agreement dated 8 February 2000 among Burberry,  the Licensee,  the
         Guarantor,  LV Capital  USA,  Inc.,  and Messrs.  Jean Madar,  Philippe
         Benacin,  Philippe  Santi and Jean Cailliau  shall be superseded by the
         LVMH   Agreement   but  only  when  it  has  been  signed  by  all  the
         aforementioned  parties and until such time it shall  continue in force
         by reference to the terms of this Agreement mutatis mutandis.

4.       APPROVAL OF LICENSED PRODUCTS

4.1      The  provisions of this clause 4 shall apply in respect of all Licensed
         Products to be sold pursuant to the rights granted under this Agreement
         within the Term commencing on the Effective Date.

4.2      The Licensee shall work in close  co-operation with Burberry  including
         without  limitation  on matters  relating to the overall  design of the
         Licensed Products with a view to agreeing upon any additions or changes
         to the range of Licensed Products.

4.3      The Licensee shall not  manufacture or have  manufactured  any Products
         bearing any Burberry  Intellectual  Property or sell any such  Products
         manufactured by or on behalf of the Licensee except such Products which
         have been Approved as Licensed Products for manufacture and sale.

4.4      The Licensee shall:

         (A)      provide full written details to Burberry of:

                  (i)      the  proposed  Formulae for the  particular  Licensed
                           Product concerned; and

                  (ii)     the name and address of the  creator of the  proposed
                           Formulae

                  before commencement of manufacture of any Licensed Product,

         (B)      revise the Packaging used in respect of the Licensed  Products
                  in accordance  with the  reasonable  directions  received from
                  Burberry from time to time,  provided that the Licensee  shall
                  be entitled to exhaust its existing  stock of Packaging and in
                  respect of the Licensed  Products  approved in accordance with
                  the Original  Licence  Agreement  prior to the Effective  Date
                  only, no such  directions  will take effect before 31 December
                  2006,  except  as  otherwise  agreed.  In the  event  that the
                  Licensee does not accept that the directions given by Burberry
                  are  reasonable,  it shall  give  written  notice to  Burberry
                  within 14 days of  receipt  of the  directions  from  Burberry
                  setting out details of its  objections.  The parties  shall in
                  good faith  endeavour  to resolve  the  objections  and in the
                  event  that no  resolution  is  reached,  the  Licensee  shall
                  implement  Burberry's

                                       18
<PAGE>

                  revisions  to the  Packaging  and the  parties  shall agree an
                  appropriate  reduction to the Minimum Net Wholesale  Sales. In
                  considering what might be an appropriate  reduction to Minimum
                  Net  Wholesale  Sales the  parties  shall  have  regard to the
                  proportion of the Actual Net Wholesale  Sales  represented  by
                  the particular  Licensed  Product  affected by the revision to
                  the Packaging;

         (C)      subject  to  clause  9.3,  not  commence  manufacture  of  any
                  Licensed Product (other than for the purposes of manufacturing
                  samples)  unless  and until  the  Formulae  for that  Licensed
                  Product,  the proposed Licensed Product, the proposed Approved
                  Contractor and the proposed Factory have been Approved;

         (D)      provide  full  written  details to  Burberry  of any  proposed
                  changes in any of the Formulae  for any  Licensed  Product for
                  Approval  of  such   changes   before  any  such  changes  are
                  implemented (save to the extent that such changes are required
                  by applicable law); and

         (E)      not commence manufacture of any Licensed Product in accordance
                  with  any  varied  Formulae  (other  than for the  purpose  of
                  manufacturing  samples)  unless and until such  Formulae  have
                  been Approved.

4.5      The   Licensee   shall  submit  in  writing  all   concepts,   designs,
         specifications,   pre-prototype   samples  and  prototype  samples  for
         Licensed  Products to Burberry for  Approval  (together  with  proposed
         Recommended  Retail  Prices) in  sufficient  time to allow  Burberry to
         examine and consider the same, and to make any such changes  thereto as
         Burberry  requests prior to the commencement of manufacture of Licensed
         Products.

4.6      Burberry's  Approval of any  Products as Licensed  Products  and of the
         elements of such of Burberry's  Intellectual  Property as is to be used
         therewith:

         (A)      shall be limited to such Products conforming with the relevant
                  Approved  samples  and/or   specifications  in  all  respects,
                  including  without  limitation  in  respect  of (i) aroma (ii)
                  Formula;  (iii) quality, (iv) design, (v) materials (including
                  the  ingredients,  pattern,  colour,  composition  and  weight
                  thereof),  (vi) Packaging,  (vii) the elements of the Burberry
                  Intellectual  Property  to be used  therewith,  and (viii) the
                  combinations  and manner of use of such Burberry  Intellectual
                  Property (including where relevant the location, juxtaposition
                  and size of any Licensed Trade Marks appearing thereon); and

         (B)      unless otherwise  expressly  provided,  shall be given only in
                  respect of the Products for which such Approval is given.

4.7      The Licensee shall procure that the Licensed  Products are manufactured
         in accordance with their concepts, designs and specifications to a high
         standard  of quality and in  accordance  with all  conditions  to which
         Approval of particular Licensed Products may be subject.

4.8      Where it is the  Licensee's  intention  that any  Products (or any part
         thereof) which the Licensee  proposes to be Licensed Products are to be
         manufactured by any Approved  Contractor(s),  the Licensee shall at the
         same  time  as  submitting   to  Burberry  any  concepts,   designs  or
         specifications of such proposed Licensed  Products,  notify Burberry of
         the  identity of such  Approved  Contractor(s)  and the location of the
         factory  at which  it is  proposed  such  Licensed  Products  are to be
         manufactured.  No Products will be Approved as Licensed  Products where

                                       19
<PAGE>

         the  same  (or  any   component   of  the  same  bearing  any  Burberry
         Intellectual  Property) is to be  manufactured  by any party other than
         the  Licensee  or the  Approved  Contractor(s)  notified to Burberry as
         aforesaid.

5.       RETAILERS AND DISTRIBUTORS

5.1      (A)      Subject to the provisions of clauses 5.12 and 5.15 below,  the
                  Licensee may, subject to Approval,  appoint such  distributors
                  as Distributors as it deems appropriate,  save that it should,
                  prior to such  appointment  submit to the Authorised  Business
                  Representative,   information   in   respect   of  each   such
                  distributor,  including,  without limitation,  ownership data,
                  details  of the  other  brands  distributed  by  the  proposed
                  distributor  and  financial  and  credit  data.  The  Licensee
                  acknowledges  that Burberry will rely on such  information and
                  all other information provided by the Licensee in respect of a
                  distributor in deciding  whether to Approve such a distributor
                  as a Distributor. For the avoidance of doubt:

                  (1)      if  the  Licensee  wishes  to  reappoint  any  of the
                           Distributors listed in schedule 7 it shall first seek
                           Approval  of Burberry  to any such  reappointment  in
                           accordance with this clause 5.1(A); and

                  (2)      subject  to  clauses  5.12 and 5.15,  members  of the
                           Licensee's  Group which act as  distributors  require
                           Approval in accordance with this clause.

         (B)      The Licensee may, subject to Approval,  appoint such retailers
                  as it deems appropriate, and prior to the commencement of each
                  Licensed  Year it  shall  submit  to the  Authorised  Business
                  Representative a list of those Retailers it wishes to continue
                  to use and/or appoint for the forthcoming  Licensed Year. Such
                  list of  Retailers  and  their  retail  outlets  to which  the
                  Licensee  wishes  to supply  Licensed  Products  for  Approval
                  should show those  retailers and retail outlets which have not
                  been  supplied  with  Licensed  Products in previous  Licensed
                  Years,  and  for  the  avoidance  of  doubt,  members  of  the
                  Licensee's  Group  which act as  retailers  (and their  retail
                  outlets) require Approval in accordance with this clause.

5.2      Burberry's  Approval  of any  retailer as a Retailer is limited to such
         retailer's  retail  outlets as are Approved and the Licensee shall only
         supply  Licensed  Products to  Retailers  in respect of the  Retailer's
         retail  outlets  that  are  Approved  and the term  "Retailer"  used in
         respect of such retailer  shall be limited to such retailer  trading at
         such retail outlets.

5.3      All Retailers  shall be first class stores dealing in products  bearing
         brands of a similar quality and prestige to the Burberry brand.

5.4      The  Licensee  shall  inform  all  Retailers  and  Distributors  of the
         provisions  of this  Agreement  which  are  relevant  to their  role as
         Retailer or Distributor including, without limitation,  clauses 5.6 and
         5.7(E).

5.5      The Licensee shall not sell or otherwise supply  Licensed  Products  to
         customers other than:

         (A)      Retailers; or

         (B)      Distributors for resale to Retailers; or

                                       20
<PAGE>

         (C)      customers of the Burberry Group pursuant to orders obtained by
                  Burberry Representatives and members of the Burberry Group.

5.6      The Licensee shall take all commercially reasonable steps, including by
         means of the  imposition of contract  terms,  to ensure that  Retailers
         only sell to consumers for personal use or to other Retailers.

5.7      The Licensee  shall enter into a  distribution  agreement or commercial
         arrangement  with  each  Distributor  and shall  ensure  that each such
         agreement or arrangement shall incorporate  legally binding  provisions
         which:

         (A)      are  equivalent  to  the  Licensee's  obligations  under  this
                  Agreement;

         (B)      give  effect  to  the   Licensee's   obligations   under  this
                  Agreement;

         (C)      reflect Burberry's rights under this Agreement;

         (D)      restrict the  Distributor  to sell the Licensed  Products in a
                  jurisdiction  or  jurisdictions  within the  Territory (to the
                  extent such provision is permitted by law);

         (E)      ensure that  Retailers only sell to consumers for personal use
                  or to other Retailers;

         (F)      procure  that  Burberry  shall have the right to  enforce  the
                  obligations  of  each  Distributor  directly,   provided  that
                  Burberry  shall  consult with the Licensee  before  exercising
                  such right; and

         (G)      to the extent  possible taking into account the governing law,
                  legal  best  practice  of the  relevant  jurisdiction  and the
                  subject matter of the Agreement,  follow the general structure
                  and order of  provisions  of this  Agreement and use identical
                  definitions of terms.

5.8      The Licensee shall submit a sample distribution  agreement (the "Sample
         Agreement") to the Authorised Legal  Representative  for Approval on or
         before 30 October 2004. Provided that the Sample Agreement is Approved,
         the  Licensee  may enter  into an  agreement  in the form of the Sample
         Agreement  with  any  Distributor.  For the  avoidance  of  doubt,  the
         Licensee shall not be entitled to enter into a  distribution  agreement
         with a  Distributor  which is not  materially in the form of the Sample
         Agreement,  without  specific  Approval of the terms of such agreement.
         Burberry's  Approval  of the  Sample  Agreement  does  not and will not
         constitute   any   representation   or  warranty  that  such  agreement
         adequately  protects  the Licensee  who should seek  independent  legal
         advice in respect of the terms of its distribution agreements.

5.9      In respect of Distributors listed in schedule 7, the Licensee shall use
         all reasonable  endeavours to enter into an agreement not later than 31
         December  2004 in the form of the Sample  Agreement  terminating  on or
         before 31 December 2006.

5.10     The  Licensee  shall  ensure  that  each  Distributor  adheres  to  the
         provisions of its distribution agreement and in particular (but without
         limiting the above) that no Distributor  does anything which if done by
         the  Licensee  would be a breach of clause 17 or which would  result in
         the Licensee  being unable to comply with clause 17. For all agreements
         between the Licensee and (i)  Distributors  and/or (ii)  Retailers  the
         Licensee  shall  procure  that  Burberry  shall,

                                       21
<PAGE>

         notwithstanding  the provisions of clause 36, have the right to enforce
         the terms of such  agreements  under  the  Contracts  (Rights  of Third
         Parties)  Act 1999,  or to the extent  that any  agreement  between the
         Licensee and a  Distributor  or Retailer is not subject to English law,
         under  provisions  equivalent to the Contracts (Right of Third Parties)
         Act 1999.

5.11     (A)      At any time prior to 31 December  2006,  Burberry may withdraw
                  its  Approval of any  Distributor  immediately  on  reasonable
                  grounds by giving  written notice to the Licensee and promptly
                  on receipt of such notice,  the  Licensee  and Burberry  shall
                  consult with a view to the Licensee  taking steps to terminate
                  promptly its agreement or arrangement with such Distributor in
                  accordance  with the terms of its agreement or its arrangement
                  with such Distributor and/or all applicable Laws.

         (B)      At any  time  on or  after  31  December  2004,  Burberry  may
                  withdraw  its  Approval  of  any  Distributor  immediately  if
                  Burberry  reasonably  believes that such a  Distributor  is in
                  breach of its  distribution  agreement or arrangement with the
                  Licensee  and  the  Licensee  shall  terminate   promptly  its
                  agreement or arrangement  with such  Distributor in accordance
                  with the terms of such  agreement or  arrangement or otherwise
                  in accordance with Burberry's directions.

5.12     The  distributors  listed in  schedule 7 are deemed to be  Approved  by
         Burberry as Distributors as at the Effective Date,  provided that on or
         before 31 December 2005, Burberry may request on reasonable grounds the
         termination of any  arrangements  with any of such  Distributors,  such
         termination to take effect on 31 December 2006.

5.13     If Burberry  has notified  the  Licensee  that it does not Approve,  on
         reasonable  grounds,  the reappointment of any Retailer in any Licensed
         Year,  the Licensee  shall not reappoint  such  Retailer.  The Licensee
         shall  ensure  that  within one month of the date of such  notice  such
         Retailer shall cease to be a Retailer,  shall cease to be supplied with
         Licensed  Products and cease to stock  Licensed  Products.  Furthermore
         Burberry may withdraw its Approval of any Retailer  forthwith  pursuant
         to clauses 15.9.1(B) and 15.9.2(B) or if Burberry  reasonably  believes
         that such Retailer has sold or is likely to sell the Licensed  Products
         to third parties other than  consumers or Retailers.  In the event that
         the  Licensee  does not accept that the grounds  given by Burberry  are
         reasonable,  it shall  give  written  notice to  Burberry  setting  out
         details of its objections within 14 days of receipt of such notice, the
         parties shall in good faith  endeavour to resolve the objections and in
         the event that no  resolution  is reached,  the parties shall refer the
         dispute   to  an  expert  in  the   retail   fragrance   business   for
         determination.  The expert's  determination shall be final and binding.
         If the expert  concludes that  Burberry's  grounds were not reasonable,
         the  parties  will agree an  appropriate  reduction  to the Minimum Net
         Wholesale Sales. In considering what might be an appropriate  reduction
         to Minimum Net  Wholesale  Sales the  parties  shall have regard to the
         proportion of the Actual Net Wholesale Sales sold in the prior Licensed
         Year by the relevant Retailer.

5.14     The Licensee shall not sell or otherwise  supply  Licensed  Products to
         any of its  Affiliates  unless that  Affiliate  has been  Approved as a
         Distributor or as a Retailer.

5.15     Notwithstanding anything to the contrary in this clause 5, the Licensee
         undertakes that:

                                       22
<PAGE>

         [------------------ ](4)

6.       LIST PRICES AND RECOMMENDED RETAIL PRICE

6.1      By no later than the  commencement of the sale of Licensed  Products to
         Distributors for each Licensed Year by the Licensee, the Licensee shall
         provide details of and discuss in good faith with Burberry:

         (A)      the Recommended Retail Price; and

         (B)      the List Price,

         in each  Licensed  Year for each  Licensed  Product in each part of the
         Territory.

6.2      The Licensee  shall at all times procure that all  Retailers  which are
         supplied  with any  Licensed  Products  are  aware at all  times of the
         Recommended Retail Price in respect thereof.

6.3      For the avoidance of doubt, nothing in this clause 6 shall prohibit the
         Licensee  from  selling  any  Licensed  Products  at any  price  as the
         Licensee  freely  determines,  or prohibit any Retailer or  Distributor
         from  selling any  Licensed  Products at any price as that  Retailer or
         Distributor freely determines.

7.       APPROVALS

7.1      Any request by the  Licensee for  Approval  pursuant to this  Agreement
         must  be made in  writing  and  addressed  to the  Authorised  Business
         Representative  or the  Authorised  Legal  Representative  (as required
         pursuant to the terms of this Agreement).

7.2      Where any Approval is given subject to any  conditions or  limitations,
         the  Licensee  shall  at all  times  comply  with  such  conditions  or
         limitations.  Any Approval  which is stated to be limited in time shall
         automatically terminate and be of no further effect from the end of the
         period for which such Approval is stated to be effective.

8.       BUSINESS PLAN

8.1      Annually before 31 October (the "Plan Date") in each year prior to each
         Licensed Year  commencing on 1 January 2005, the Licensee shall deliver
         to the Authorised  Business  Representative  and the  Authorised  Legal
         Representative  a Business Plan for the following  Licensed Year,  such
         Business Plan to set out:

         (A)      the  Licensee's  plans  for the  development,  production  and
                  manufacture of the Licensed Products;

         (B)      the   Licensee's   plans  for  the   Promotion,   Advertising,
                  marketing,  distribution  and  sale of the  Licensed  Products
                  ("Marketing  Plan"),  such  Marketing  Plan  shall set out the
                  Licensee's  proposed  spending on  Promotion  and  Advertising
                  during that Licensed

-------------
(4)      CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SEC WITH
         A  REQUEST  FOR  CONFIDENTIAL  TREATMENT  BY INTER  PARFUMS,  INC.  NO.
         10.111:4.

                                       23
<PAGE>

                  Year  (together  with a detailed  breakdown  of such  proposed
                  spending),  the media in which it is intended such Advertising
                  and  Promotion  is to be placed,  the  proposed  timing of the
                  planned  Advertising  and  Promotional  Activities,   and  the
                  proposed contents of any proposed  Advertising and Promotional
                  Material,  including  any common  themes  which it is intended
                  will be pursued in them;

         (C)      the projected Actual Net Wholesale Sales of Licensed Products;
                  and

         (D)      the projected retail sales,

         and the parties shall,  at the request of Burberry,  meet to discuss in
         good faith Burberry's comments and observations on each Business Plan.

8.2      Each  Business Plan (which,  for the avoidance of doubt,  shall include
         each Marketing Plan) is subject to Approval.

8.3      Once  Burberry has Approved the contents of each  Marketing  Plan,  the
         Licensee shall carry out the Advertising and Promotional Activities set
         out therein and shall not without  Approval  (given in accordance  with
         clause 15.3) conduct any Advertising and Promotional  Activities  other
         than in accordance with the same.

9.       CERTAIN ADDITIONAL OBLIGATIONS OF THE LICENSEE

MANUFACTURE OF LICENSED PRODUCTS

9.1      The Licensee shall not manufacture  any Licensed  Products (or any part
         thereof)  other  than at a Factory  and shall  procure  (in the case of
         manufacture  by an  Approved  Contractor)  that the  relevant  Approved
         Contractor  does not  manufacture  any  Licensed  Products (or any part
         thereof)   other  than  at  the  Factory   Approved  in  such  Approved
         Contractor's Undertaking.

9.2      The Licensee  undertakes  that the materials used in the manufacture of
         the Licensed  Products do not and shall not contain any materials  from
         time to time  notified by Burberry to the  Licensee  including  without
         limitation the materials listed in appendix G.

9.3      Notwithstanding  the foregoing and clause  4.4(C),  Burberry  shall all
         times be entitled to withdraw  the  Approval in respect of a Factory or
         an  Approved  Contractor,  and  each  shall  for the  purposes  of this
         Agreement  cease  to be a  Factory  or  act as an  Approved  Contractor
         respectively,  forthwith,  if it has a bona fide reasonable belief that
         any such Approved Contractor or Factory:

         (A)      has produced Licensed Products that are not in accordance with
                  the Formulae,  are not of satisfactory  quality or do not meet
                  Burberry's  qualitative  standards  as notified by Burberry to
                  the Licensee from time to time;

         (B)      has used any of the  substances  listed in  appendix  G in the
                  production or manufacture of the Licensed Products;

         (C)      has or is  engaged  in  unauthorised  production  of  Licensed
                  Products or other products which  represent an infringement of
                  the  Intellectual  Property  Rights of  Burberry  or any other
                  person; or

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<PAGE>

         (D)      has  infringed  or  is  infringing  the  Business  Ethics  and
                  Environmental Policy.

SALE OF LICENSED PRODUCTS

9.4      Subject to clause 15, the  Licensee  shall use its best  endeavours  to
         Advertise, Promote, market and extend sales of Licensed Products in the
         Territory,  and take into account  such  factors as Burberry  considers
         relevant to the Promotion, Advertising,  marketing and sale of Licensed
         Products in the Territory.

9.5      The Licensee shall not:

         (A)      offer for sale,  sell,  solicit  orders,  take  orders  for or
                  otherwise  dispose of any Licensed  Products other than in the
                  fulfilment of orders from the customers  referred to in clause
                  5.5 hereof in the Territory for sale in the Territory;

         (B)      sell  Licensed  Products  to any  Retailer or  Distributor  in
                  respect  of which  Approval  has been  withdrawn  pursuant  to
                  clause 5.11; or

         (C)      knowingly sell Licensed  Products to Retailers  other than for
                  direct  sale  to  consumers  for  personal  use  or  to  other
                  Retailers.

9.6      The Licensee  shall accept the return of and replace or give credit for
         any Licensed Products  delivered to any Retailers or Distributors by or
         on  behalf of the  Licensee  where  such  Licensed  Products  have been
         lawfully Returned or rejected by such Retailer or Distributor  (whether
         due to late  delivery,  defect  in such  Licensed  Products,  any other
         breach  by the  Licensee  of  the  applicable  conditions  of  sale  or
         otherwise).

9.7      The Licensee:

         (A)      shall not and shall use its best  endeavours  to procure  that
                  Retailers (other than the Large Retailers) and Distributors do
                  not  market,  advertise,  promote or sell any of the  Licensed
                  Products  by  means  of  any  electronic  or  digital  medium,
                  including without limitation by the use of the "Internet", the
                  "World   Wide   Web"  or  any  other   telecommunications   or
                  information  network  or service  of any  description  without
                  Approval; and

         (B)      shall use its best endeavours to procure that its Distributors
                  and/or  Retailers  (but in the  case of the  Large  Retailers,
                  subject to clause  9.7(A))  do not  Advertise  or Promote  any
                  Licensed Products without Approval.

9.8      The Licensee  shall  procure that its  Distributors  each  nominate and
         maintain  a  senior  employee  dedicated  to the  sale,  marketing  and
         delivery  of the  Licensed  Products  to  Retailers  and who shall have
         suitable experience and expertise in the fragrance business.

9.9      The Licensee shall at all times be adequately represented, by reference
         to the market conditions for the Products from time to time, throughout
         the  Territory  by  Distributors  so as to comply with its  obligations
         under this Agreement.

9.10     The Licensee shall procure that its and its Distributors'  showrooms at
         which or  environments  in which the promotion  and/or sale of Licensed
         Products  takes place (i) are  commensurate

                                       25
<PAGE>

         with the high quality and prestige  nature of  Burberry's  business and
         their location and furnishings shall not diminish the reputation of the
         Burberry  Intellectual  Property and (ii) have an area dedicated to the
         Licensed  Products.  The Licensee  shall provide to Burberry in June of
         each Licensed Year  photographs of all such showrooms and  environments
         of the Licensee and its Distributors at which the Licensed Products are
         promoted and/or sold (including, without limitation, photographs of the
         exterior  and   interior  of  such   environments   or  showrooms   and
         environments).

9.11     The Licensee shall maintain during this Agreement sufficient production
         and other  capacity  to enable  it to meet all  orders in all  material
         respects for Licensed Products from Distributors and/or Retailers.

TRACKING AND RECORDING

9.12     (A)      The Licensee shall as soon as practicable, and in any event by
                  no later than 1 July 2005, ensure that it has put in place the
                  necessary  measures  to  identify  with  certainty,  track and
                  record by reference to each Licensed  Product the  Distributor
                  to which the Licensee or another  Distributor (as the case may
                  be) sold such  Licensed  Product  (the  "Distributor  Tracking
                  Measures").

         (B)      (1)      The Licensee shall use its best  endeavours to put in
                           place by 31 December 2005 the  necessary  measures to
                           identify   with   certainty,   track  and  record  by
                           reference to each  Licensed  Product the Retailers in
                           the Major Markets to which such  Distributors  as are
                           described in clause  9.12(A) above sold such Licensed
                           Products (the "Major Retailer Tracking Measures").

                  (2)      The Licensee shall use its  reasonable  endeavours to
                           put in place by 30 June 2006 the  necessary  measures
                           to  identify  with  certainty,  track  and  record by
                           reference to each  Licensed  Product the Retailers in
                           the Other Markets to which such  Distributors  as are
                           described in clause  9.12(A) above sold such Licensed
                           Products (the "Other Retailer Tracking Measures").

                                       26
<PAGE>

         (C)      The Licensee shall discuss the Distributor  Tracking Measures,
                  the Major  Retailer  Tracking  Measures and the Other Retailer
                  Tracking  Measures  with  Burberry.   Burberry,   shall,  upon
                  reasonable  notice,  be permitted access to and/or be supplied
                  with copies of the Licensee's  databases and other records and
                  information  relating to such tracking measures.  The Licensee
                  shall  also use all  reasonable  efforts  to  ensure  that all
                  Distributors  comply with the  provisions  of this clause 9.12
                  and to the extent  that the  Licensee  may  obtain  records or
                  other  information  related  to the  destination  of  Licensed
                  Products  from its  Distributors,  the  Licensee  shall  allow
                  Burberry to have access to such records and information.

INTELLECTUAL PROPERTY

9.13     The Licensee  shall not use or disclose any  information  or any of the
         Formulae  or  use  any  Burberry  Intellectual  Property  (or  anything
         identical or confusingly  similar to anything  comprised therein) other
         than:

         (A)      as may from time to time be both  necessary  and  Approved  in
                  connection with the manufacture of Licensed  Products and sale
                  of Licensed Products under this Agreement; or

         (B)      as specifically authorised in this Agreement.

9.14     The  Licensee  shall  not  in  the  manufacture,  supply,  Advertising,
         Promotion,  marketing,  distribution  or sale of any Licensed  Products
         permit any trade  marks,  names or other  markings  to be used on or in
         connection with or applied to such Licensed Products other than:

         (A)      such of the Burberry  Intellectual  Property as is Approved to
                  be used in respect of such  Licensed  Products  under  clauses
                  2.1(A) and 2.3(B); and

         (B)      any such  markings as are required by the Laws of or generally
                  accepted  codes  of  practice  in  any  relevant  part  of the
                  Territory  PROVIDED THAT any such markings shall be applied in
                  a manner which is as discrete as is reasonably  possible,  and
                  no such  markings  shall be  applied  to the  exterior  or the
                  interior of any Licensed  Products without Approval subject to
                  the  requirements  of  any  applicable  Laws  of or  generally
                  accepted  codes  of  practice  in  any  relevant  part  of the
                  Territory.

9.15     In the  event  that  Burberry  does not  supply  labels,  point of sale
         material or packaging bearing Burberry Intellectual Property (for which
         Burberry shall be entitled to charge),  the Licensee shall not purchase
         any such labels,  point of sale  material or  packaging  from any party
         other than from such third party  suppliers as Burberry shall designate
         as an Approved Contractor.

9.16     The Licensee shall:

         (A)      use its best endeavours to provide to the Authorised  Business
                  Representative within six months of the date of this Agreement
                  details  of all  uses  it has  made of  Burberry  Intellectual
                  Property  in the  six (6)  Months  prior  to the  date of this
                  Agreement   whether  on  or  in  relation  to  the   Products,
                  stationery or otherwise;

         (B)      not  use  any  Burberry  Intellectual  Property  on any of its
                  business  documentation  (including  but not  limited  to, all
                  advertising  materials,  stationery,  order  forms,  invoices,

                                       27
<PAGE>

                  credit notes,  labels,  business cards,  signage and the like)
                  unless such use of the Burberry Intellectual Property has been
                  Approved.

         (C)      as  soon  as  possible,  and in any  event  within  30 days of
                  receipt of notice from Burberry of a variation or modification
                  of or any  addition  to any trade mark or trade  name  forming
                  part of the Burberry  Intellectual  Property including without
                  limitation the Licensed Trade Marks, cease to use any previous
                  or outdated  versions of the relevant trade mark or trade name
                  on any of  the  Licensee's  business  documentation.  For  the
                  avoidance of doubt,  once notice is given in  accordance  with
                  this clause  9.16(C)  any prior  Approval  given under  clause
                  9.16(B)  shall be deemed to have been  withdrawn to the extent
                  that it relates to previous or outdated versions of Burberry's
                  brand or logos.

9.17     The  Licensee  shall not (and shall  procure  that no  Affiliate of the
         Licensee shall unless  Burberry  otherwise  agrees) engage  directly or
         indirectly  in  the  development,   production,   manufacture,  supply,
         marketing, distribution or sale of any:

         (A)      products other than the Licensed  Products  bearing or sold in
                  connection with:

                  (i)      any Burberry Intellectual Property;

                  (ii)     any  trade   marks  or  trade  names   identical   or
                           confusingly  similar to or otherwise  infringing  any
                           Burberry Intellectual Property;

                  (iii)    any  Varied  Trade  Names  which do not  include  the
                           "Burberry"   name  (for  example,   in  the  case  of
                           "Burberry  Brit",  the word "Brit" may not be used on
                           its own or in  conjunction  with  any  other  word or
                           words other than "Burberry"); or

         (B)      products  of the same  design  as that of any of the  Licensed
                  Products; or

         (C)      products of a design  substantially  similar to that of any of
                  the Licensed Products; or

         (D)      products  in the  same or  confusingly  similar  packaging  or
                  presentation as any of the Licensed Products; or

         (E)      products  with a confusingly  similar  fragrance as any of the
                  Licensed Products; or

         (F)      products  using  the  same  Formulae  as any  of the  Licensed
                  Products.

9.18     The  Licensee  shall,  on request,  deliver to  Burberry  copies of all
         stationery,  point of sale  materials and any other  materials  bearing
         Burberry  Intellectual  Property  used  for or in  connection  with the
         manufacture,  distribution  or sale  of the  Licensed  Products  in the
         relevant  Licensed Year  ("Materials")  and the Licensee  shall, in any
         event, archive copies of the Materials and shall provide copies of such
         Materials to Burberry at Burberry's request.

9.19     The Licensee shall not use any of the Licensed Trade Marks or any other
         Burberry Intellectual Property on or in connection with any products or
         in connection  with any services  other than the Licensed  Products and
         then subject  always to the  Approvals  which are  required  under this
         Agreement.

9.20     Without  prejudice to clause 5.10,  the Licensee shall procure that its
         Distributors:

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<PAGE>

         (A)      comply with clauses 9.5, 9.7, 9.8, 9.17,  9.18, 9.19, 9.25 and
                  9.28; and

         (B)      do not use any Burberry  Intellectual Property for any purpose
                  other than in connection with the distribution of the Licensed
                  Products in accordance with the terms of this Agreement and of
                  any distribution agreement entered into under clause 5.8.

9.21     The Licensee shall work in close  co-operation with Burberry to enhance
         the goodwill and reputation of the Burberry  Intellectual  Property and
         the Formulae.

PROVISION OF INFORMATION

9.22     The  Licensee  shall  supply  such  information  and  documentation  as
         Burberry may  reasonably  request in connection  with the  development,
         production  and  manufacture  of Licensed  Products and the  Promotion,
         Advertising    (including    advertising    expenditure),    marketing,
         distribution and sale of Licensed Products.

9.23     (A)      If the  Licensee  ceases to be listed  on a  recognised  stock
                  exchange,  the Licensee shall promptly provide full details to
                  Burberry in writing in respect of (i) the beneficial and legal
                  ownership  of  the  Licensee  and  (ii)  the   directors   and
                  management  of  the  Licensee,  each  as at the  date  hereof.
                  Thereafter the Licensee shall forthwith give Burberry  written
                  notice of:

                  (i)      any material  change in the issued  share  capital of
                           the Licensee  including  any change of  beneficial or
                           legal  ownership  including  without  limitation each
                           occasion  when a person or persons  acting in concert
                           first  hold or  cease  to hold  interests  (legal  or
                           beneficial,  direct or indirect) in the share capital
                           of the Licensee,  which  represent or could represent
                           ten percent (10%) or more of the issued share capital
                           of the Licensee, and where any such person or persons
                           holds  any  such  interest,   any  increase  in  such
                           interest;

                  (ii)     any   material   change  in  the   directors   and/or
                           management  of  the  Licensee  (including,   but  not
                           limited to, any material change in the role of or the
                           departure  from the  Licensee  of the  member  of its
                           senior management); and/or

                  (iii)    any other fact matter or thing affecting the Licensee
                           during the continuance of this Agreement of which the
                           Licensee is aware and which might  materially  affect
                           the interests of Burberry or the  performance  by the
                           Licensee of its obligations under this Agreement.

         (B)      If the  Guarantor  ceases to be listed on a  recognised  stock
                  exchange, the Guarantor shall promptly provide full details to
                  Burberry in writing in respect of (i) the beneficial and legal
                  ownership  of  the   Guarantor  and  (ii)  the  directors  and
                  management  of the  Guarantor,  each  as at the  date  hereof.
                  Thereafter the Guarantor shall forthwith give Burberry written
                  notice of:

                  (i)      any material  change in the issued  share  capital of
                           the Guarantor,  including any change of beneficial or
                           legal  ownership  including  without  limitation each
                           occasion  when a person or persons  acting in concert
                           first  hold or  cease  to hold  interests  (legal  or
                           beneficial,  direct or indirect) in the share capital
                           of the Guarantor,  which represent or could represent
                           ten percent (10%) or more of

                                       29
<PAGE>

                           the issued share  capital of the  Guarantor and where
                           any such person or persons  holds any such  interest,
                           any increase in such interest;

                  (ii)     any   material   change  in  the   directors   and/or
                           management  of  the  Guarantor  (including,  but  not
                           limited to, any material change in the role of or the
                           departure  from the  Guarantor  of the  member of its
                           senior management); and/or

                  (iii)    any  other  fact  matter  or  thing   affecting   the
                           Guarantor during the continuance of this Agreement of
                           which  the   Guarantor   is  aware  and  which  might
                           materially  affect the  interests  of Burberry or the
                           performance by the Guarantor of its obligations under
                           this Agreement.

9.24     The Licensee  shall notify  Burberry of the  following  information  in
         writing within 60 days of the end of each Licensed Year:

         (A)      a list of each  person for which the  Licensee  or a member of
                  the  Licensee's  Group acts as a licensee  (such persons being
                  the "Other Licensor");

         (B)      all  other  brands in  respect  of which it or a member of the
                  Licensee's  Group acts as  licensee  or in any other  capacity
                  from time to time on behalf of Other Licensors, such brands as
                  at the date of this Agreement being the "Additional Brands";

         (C)      the duration of the agreements with the Other Licensors; and

         (D)      the territories in which the Licensee may manufacture and sell
                  pursuant to the licence agreements with the Other Licensors.

         All information received by Burberry pursuant to this clause 9.24 shall
         be subject to the provisions of clause 26.

9.25     The Licensee shall not make or give any  representations  or warranties
         in relation to the  Licensed  Products  other than those which are true
         and accurate in all material respects.

9.26     The Licensee shall notify Burberry in writing forthwith if:

         (A)      5% or more by value  calculated by reference to the Actual Net
                  Wholesale Sales of a particular  Licensed Product in any range
                  of Licensed  Products in any six month  period are Returned to
                  the Licensee; or

         (B)      10% or more by value calculated by reference to the Actual Net
                  Wholesale Sales of a particular  Licensed Product in any range
                  of Licensed  Products in any six month  period are Returned to
                  any Distributor; or

         (C)      a material amount of any particular  component of any Licensed
                  Product in any six month  period are  Returned  to an Approved
                  Contractor.

         The Licensee  shall provide  Burberry with such details as Burberry may
         reasonably  require in respect of such Returned  Licensed  Products and
         the reason for their return.

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<PAGE>

ACCESS

9.27     The Licensee shall permit Burberry and/or its  representatives  to have
         access to the premises of the Licensee  (including  without  limitation
         any   Factories)   and  shall   procure   that   Burberry   and/or  its
         representatives  have access to any  relevant  premises of any Approved
         Contractor  (including  without  limitation  any Factories) at any time
         during business hours,  upon reasonable  advance notice, to inspect all
         the  operations  of the  Licensee  and/or any  Approved  Contractor  in
         manufacturing  and dealing in Burberry  Items, to assess the amounts of
         the Licensee's  and/or Approved  Contractors'  stocks of Burberry Items
         and  generally  for the  purposes of  ensuring  the  compliance  of the
         Licensee  with  this  Agreement,   including  without   limitation  the
         conformance of any of the Burberry Items with the required standards of
         quality.

COMPLIANCE WITH LAWS

9.28     The Licensee shall at its own expense:

         (A)      comply in all material  respects with all applicable  Laws and
                  similar requirements in the Territory in so far as they relate
                  to Licensed Products, including without limitation as to their
                  manufacture,  labelling  and  raw  material  content,  supply,
                  importation  and/or sale and in particular  without limitation
                  labelling as to  jurisdiction  of origin,  product  liability,
                  product safety and cosmetic products legislation;

         (B)      obtain and  maintain  in full  force and effect all  licences,
                  permissions  and consents and comply in all material  respects
                  with all  requirements  necessary for the  importation  of any
                  items  provided to the Licensee by Burberry for the purpose of
                  this  Agreement,  including  but not limited to the payment of
                  all duties, taxes and other charges;

         (C)      procure  and  be  able  to   demonstrate   to  the  reasonable
                  satisfaction  of Burberry  that,  for the purposes of sales of
                  Licensed  Products  in the  Territory,  if a  jurisdiction  of
                  origin  label is required  under all relevant  Laws,  business
                  practices or codes of practice applicable in the relevant part
                  of the Territory, such Licensed Products shall be manufactured
                  (and comprise only such  components) so as to be able lawfully
                  to bear a  jurisdiction  of  origin  label  subject  to clause
                  9.14(B).

9.29     The  Licensee  shall  conform  and  comply  with and shall use its best
         endeavours  to cause  all  Approved  Contractors  and  Distributors  to
         conform  and  comply  with  all  relevant  international  and  national
         conventions and all relevant Laws,  rules and  regulations  relating to
         the employment of labour (in particular  without  limitation  child and
         forced  labour) and  employees'  terms and conditions of employment and
         shall  comply  with and  procure  that  all  Approved  Contractors  and
         Distributors  comply with general  environmental  responsibilities  and
         good practice.

9.30     The Licensee shall comply in all material  respects with all applicable
         Laws,  rules and notices  having the force of law in the  Territory and
         any  codes  of   practice   and   regulatory   advice   (together   the
         "Regulations")   insofar  as  they  relate  to  the  Licensed  Products
         including, but not limited to, the following:

         (A)      the  Licensee  shall hold at the address  that  appears on the
                  packaging of the Licensed Product a dossier in respect of each
                  Licensed Product (the "Dossiers").  The Dossiers

                                       31
<PAGE>

                  shall   contain   product   information   including,   without
                  limitation,   safety   assessment  data  and  details  of  the
                  composition of the Licensed Product in question;

         (B)      the Licensee  shall appoint a designated  individual who shall
                  be responsible  for preparing,  maintaining  and up-dating the
                  Dossiers (the  "Designated  Individual").  The Licensee  shall
                  notify  Burberry within thirty (30) days of the appointment or
                  replacement  of  such  individual  of the  name,  address  and
                  contact   telephone   numbers   of  the   current   Designated
                  Individual;

         (C)      the  Licensee  shall  maintain  (i) a proper  and  appropriate
                  procedure for monitoring,  recording,  managing and responding
                  to all complaints and (ii) a product recall procedure, in each
                  case to monitor any undesirable  effects and adverse reactions
                  on consumers  caused by the Licensed  Products  (together  the
                  "Procedures").  The  Procedures  shall specify  details of the
                  individuals  within the Licensee's  organisation who have been
                  given   overall   responsibility   for  their   implementation
                  including,   without  limitation,   their  names  and  contact
                  telephone numbers;

         (D)      the Licensee  shall on or before 30  September  2004 provide a
                  copy of the current  Procedures to Burberry for Approval.  Any
                  amendments to such  Procedures  shall be submitted to Burberry
                  for Approval;

         (E)      the Licensee shall review the Procedures  regularly and in any
                  event at least once per Licensed Year; and

         (F)      the Licensee  shall procure that all  appropriate  safety data
                  and  information  shall  be sent on a  confidential  basis  to
                  Poison Control  Centres and other relevant  authorities as may
                  be required by any Regulations;

9.31     The Licensee shall within thirty (30) days of receipt of a request from
         Burberry  (such a request to be made by  Burberry  no more than once in
         each Licensed Year):

         (A)      certify  in  writing  to  Burberry  that  (i) all  Regulations
                  insofar as they relate to the Licensed Products,  the Dossiers
                  and the  Procedures  have  been  complied  with;  and (ii) all
                  required registrations,  consents,  approvals,  certifications
                  and submissions in respect of the Licensed Products,  Dossiers
                  and Procedures have been obtained by the Licensee; and

         (B)      provide copies of supporting  documentation providing evidence
                  to the reasonable satisfaction of Burberry of such compliance.

9.32     The  Licensee  shall  permit  Burberry  to  inspect  all  documentation
         relating  to the  Licensed  Products  including,  but not  limited  to,
         Formulae  and data at any  time  during  normal  business  hours,  upon
         reasonable advance notice,  for the purposes of ensuring  compliance of
         the Licensee with the Agreement  and all  Regulations  and the Licensee
         shall  grant  Burberry  access  to its  premises  for the  purposes  of
         permitting Burberry to carry out this inspection.  In carrying out such
         inspections,  Burberry will endeavour to minimise any disruption to the
         normal business operations of the Licensee.

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<PAGE>

INSURANCE

9.33     The  Licensee  shall  obtain  from a  reputable  insurance  company and
         maintain  in force  product  liability  insurance  for death,  personal
         injury  and  property  damage  in  respect  of  all  Licensed  Products
         sufficient to fully indemnify  Burberry and all members of the Burberry
         Group in respect of any claim arising whether during the Term or at any
         time after the  termination of this  Agreement.  Such  insurance  shall
         provide cover for at least  (euro)6,000,000 in respect of any one claim
         or such  higher  amount as shall be  recommended  by a leading  firm of
         international  insurance  brokers having regard to what is customary in
         the fragrance industry who shall be informed prior to their appointment
         that they are  appointed on the basis that they will not be  instructed
         in respect of obtaining the insurance  cover itself.  Burberry shall be
         named as "loss payee" on every policy of such  insurance.  Each year on
         or before 31 January the Licensee shall supply to Burberry  evidence of
         such insurance and the payment of all premiums therefor.

INDEMNITY

9.34     The Licensee  shall fully  indemnify  Burberry and keep it  indemnified
         against all damage,  losses,  claims,  actions,  proceedings,  demands,
         liabilities,  costs,  damages,  compensation,  fines, personal injuries
         (including death), damage to private property, orders and out-of-pocket
         expenses  (including,  without  limitation,  reasonable legal and other
         professional fees) (hereinafter the "Indemnified Events") to the extent
         incurred or suffered by Burberry as a result of the negligence,  act or
         omission of the Licensee,  its  Affiliates  or its or their  employees,
         agents and contractors  (including  Distributors)  arising out of or in
         connection with this Agreement or to the extent incurred or suffered by
         Burberry as a result of the breach by the Licensee or its Affiliates or
         its or their employees,  agents and  sub-contractors of its obligations
         and/or  warranties  under this Agreement save, in any such case, to the
         extent that such  Indemnified  Events are caused by any  negligence  or
         wilful  default  on the part of  Burberry,  its  employees,  agents and
         contractors (excluding the Licensee).

MISCELLANEOUS

9.35     The Licensee  shall devote  sufficient  resources  (whether in terms of
         employees, premises, facilities or otherwise) to fulfil its obligations
         under this Agreement in their entirety.

9.36     The  Licensee  shall  not  and  shall  procure  that  any  employee  or
         representative  of the Licensee  shall not and shall use all reasonable
         endeavours to procure that its Approved  Contractors  and  Distributors
         shall not:-

         (A)      make or attempt to make directly or indirectly  any payment or
                  gift of any  description  (whether or not such payment or gift
                  is solicited),  except for reasonable business meals as may be
                  customary in accordance with the relevant locale, to:

                  (i)      any employee or representative of Burberry, or of any
                           other known member of the Burberry Group or of any of
                           their respective Affiliates; or

                  (ii)     to any known family relation of any person  described
                           in sub-clause (i) above;  or

         (B)      in any way induce or attempt to induce  (whether by means of a
                  payment of money or otherwise) any employee or  representative
                  of Burberry to conceal  from  Burberry or to overlook any act,
                  omission or other circumstances which would amount to a breach
                  by

                                       33
<PAGE>

                  the Licensee or a Distributor  of this  Agreement (or a breach
                  by an Approved Contractor of its Undertaking); or

         (C)      fail to notify Burberry in writing  promptly if the management
                  of  Licensee,  its  employees or  representatives  have actual
                  knowledge that any such employee or representative referred to
                  in clause 9.36(A) has indicated that he/she may so overlook or
                  conceal a breach of this Agreement if so induced; or

         (D)      pay any brokers' fees,  bribes,  pay-offs,  commissions (other
                  than  customary  sales  commissions  or  finders'  fees in the
                  ordinary  course of business),  royalty sharing or the like to
                  any third party which relates in any way to this  Agreement or
                  the Licensee's relationship with Burberry.

9.37     The Licensee  agrees to be bound by the LVMH  Agreement and also to use
         its best  endeavours to procure that the LVMH Agreement is signed by 30
         September 2004 by all the parties other than Burberry who are stated to
         have obligations under that agreement.

BURBERRY FRAGRANCES

9.38     Certain of the  Licensee's  obligations  under this  Agreement  will be
         performed by Burberry  Fragrances.  Burberry  Fragrances' sole function
         will be to perform in whole or in part the Licensee's  obligations  and
         Burberry Fragrances will not provide any services for any other person.

9.39     Burberry Fragrances shall have a dedicated sales and marketing team and
         shall  outsource  such of its  obligations as the President of Burberry
         Fragrances shall deem  appropriate,  provided that Burberry  Fragrances
         shall  be  entitled  to  use  the  production,   logistic,  accounting,
         administrative  and other  services  of the  Licensee  or the  Licensee
         Group, as the Licensee deems appropriate.

9.40     The Licensee shall ensure that it employs in Burberry Fragrances at all
         times  sales  and  marketing  personnel  dedicated  to  developing  the
         duty-free business.

9.41     The Licensee  shall,  subject to any  recommendation  made by Burberry,
         propose for Burberry's  Approval a person with suitable  experience and
         expertise  in the  fragrance  business to be the  President of Burberry
         Fragrances. If Burberry Approves such proposal, the Licensee shall, and
         the  Guarantor  shall  procure  that the Licensee  shall,  appoint such
         person as is nominated by Burberry to hold the position of President of
         Burberry Fragrances. The terms of such appointment (including,  without
         limitation,  remuneration incentives and principal place of work if the
         principal  place of work is to be other than Paris) shall be subject to
         Approval by Burberry.

9.42     Subject to the  applicable  laws of the  principal  place of work,  the
         Licensee  shall not  dismiss or  reassign  the  President  of  Burberry
         Fragrances  without  the  Approval of Burberry  and  Burberry  shall be
         entitled to require by notice to the  Licensee  that any  President  of
         Burberry  Fragrances  is dismissed  and another  person is appointed in
         his/her place within six months of the date of Burberry's  notice.  The
         Licensee  shall  provide  Burberry  with all  information  requested by
         Burberry  in respect of the  circumstances  surrounding  any  requested
         dismissed or reassignment of the President of Burberry Fragrances.  The
         Licensee  shall  indemnify  and keep Burberry  indemnified  against all
         costs, claims,  demands,  losses, damages and

                                       34
<PAGE>

         expenses  arising from any claim brought  directly  against Burberry by
         any proposed, current or former President of Burberry Fragrances, save,
         in any such  case,  to the  extent  that such  indemnified  events  are
         directly  caused by any  negligence  or wilful  default  on the part of
         Burberry,   its  employees,   agents  and  contractors  (excluding  the
         Licensee).

9.43     The President of Burberry  Fragrances  shall be the principal  point of
         contact for Burberry  with  Burberry  Fragrances  and such person shall
         devote  all of  his/her  time  to  the  development  of the  Licensee's
         business in respect of the Licensed Products.  Notwithstanding anything
         to the contrary the President of Burberry  Fragrances shall report, and
         shall be subordinate  to, the President of the Licensee,  provided that
         the  President  of  the  Licensee  shall  not  give  directions  to the
         President of Burberry  Fragrances which are inconsistent with the terms
         of the President of Burberry  Fragrances'  appointment and his/her role
         and responsibilities. The responsibilities and role of the President of
         Burberry Fragrances are set out in schedule 5.

9.44     For the  avoidance of doubt the  provisions  of clause 9.38 to 9.43 and
         any  recommendation  or any Approval  given by Burberry  pursuant to it
         shall not limit,  reduce or exclude the  Licensee's or the  Guarantor's
         liability under this Agreement.

10.      LICENCE FEES

         CALCULATION OF LICENCE FEE

10.1     In  consideration  of the Licence  Rights  granted by Burberry  and the
         obligations  undertaken by Burberry under this Agreement,  the Licensee
         shall pay to Burberry :

         (A)      on or before 31 December 2004 the sum of (euro)3,000,000 as an
                  inducement  for Burberry to enter into this  Agreement  which,
                  for the  avoidance  of doubt,  is payable in  addition  to the
                  Licence Fee; and

         (B)      subject to clause 14.1 from the  Effective  Date,  the Licence
                  Fee, which shall be calculated by  multiplying  the Actual Net
                  Wholesale       Sales       in       each       Month       by
                  [-----------------------------------](5)   ("Calculation  A"),
                  save that, in respect of the Other  Markets only,  the parties
                  may agree to  calculate  the Licence Fee by  reference  to the
                  Ex-Factory  Price of the Licensed  Products sold in such Other
                  Markets ("Calculation B"). The parties shall:

                  (1)      within 150 days of the Effective  Date, in respect of
                           the first Licensed Year; and

                  (2)      by no later  than 90 days prior to the  beginning  of
                           each Licensed Year, in respect of subsequent Licensed
                           Years,

                  agree whether  Calculation  A or  Calculation B shall apply in
                  respect of the  Licence  Fee in the Other  Markets in the next
                  following  Licensed Year and, if Calculation B is chosen,  the
                  method and criteria applied and data used in such calculation.
                  If the  parties  fail to agree  within the time limits set out
                  above, Calculation A shall apply.

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(5)      CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SEC WITH
         A  REQUEST  FOR  CONFIDENTIAL  TREATMENT  BY INTER  PARFUMS,  INC.  NO.
         10.111:5.

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<PAGE>

10.2     The Licence Fee shall become due on the last day of each Month provided
         that the Licence Fee shall not be payable by the Licensee in respect of
         Licensed  Products  which  have  been  Returned  to the  Licensee  by a
         Distributor or Retailer.

10.3     Estimated Monthly Licence Fee

         The Estimated  Monthly  Licence Fee shall become due at the end of each
         Month and be payable to  Burberry  within 30 days after the end of each
         Month,  provided that the Estimated  Monthly Licence Fee for the period
         from the Effective  Date until the date of signature of this  Agreement
         shall be payable to Burberry  within 30 days after the end of the Month
         in which  the date of  signature  of this  Agreement  falls.  Except as
         provided in clause  10.5  below,  each  Monthly  payment  shall be made
         without any deduction or set off of any kind.

10.4     Six-Monthly and Annual Reconciliation

         (A)      In respect of the Major Markets, the Licensee shall, within 45
                  days of the end of every  six Month  period  (the  first  such
                  period  commencing  on the  Effective  Date,  and ending on 31
                  December  2004) pay to  Burberry  an amount  representing  the
                  difference  between  the  Estimated  Monthly  Licence Fee paid
                  during  such six  Month  period  and the  Licence  Fee due and
                  payable for such six Month period.

         (B)      In respect of the Other Markets, the Licensee shall, within 45
                  days of the end of each  Licensed  Year,  pay to  Burberry  an
                  amount  representing  the  difference  between  the  Estimated
                  Monthly  Licence  Fee paid  during the  Licensed  Year and the
                  Licence  Fee due and  payable  for such  Licensed  Year,  such
                  Licence Fee to be calculated  with reference to clause 10.1 to
                  10.3 inclusive.

10.5     At the same time as  delivery  of an Annual  Account to  Burberry,  the
         Licensee  shall  pay the  Licence  Fee  shown to be due by such  Annual
         Account,  without any  deduction or set off of any kind,  if and to the
         extent that it has not already then been paid  together  with  interest
         thereon  calculated in accordance  with clause 10.12. In the event that
         the Annual  Account in respect of any Licensed Year  discloses that the
         Licence Fee paid by the Licensee in respect of that Licensed Year under
         clause 10.1 exceeds the Licence Fee which was correctly  required to be
         paid under this  Agreement in respect of such Licensed  Year,  Burberry
         shall credit to the Licensee the amount of such excess,  which  credit,
         at the option of the Licensee:

         (A)      may be applied by the Licensee so as to reduce the  Licensee's
                  Monthly  payments of Estimated  Licence Fees in respect of the
                  next following Licensed Year (if any); or

         (B)      will be refunded in full to the  Licensee  within  thirty (30)
                  days of such request.

         Except as provided above Burberry shall have no obligation to credit or
         refund to the Licensee any overpayment of Licence Fee.

         MINIMUM LICENCE FEES AND ACTUAL NET WHOLESALE SALES

10.6     In the event that the Licence  Fee paid by the  Licensee to Burberry in
         any Licensed  Year  ("Received  Fee") is less than the Minimum  Licence
         Fee, the Licensee  shall remit to Burberry  within  ninety (90) days of
         the  later  of the end of such  Licensed  Year or such  date  that  the

                                       36
<PAGE>

         difference  between the  Received  Fee and the Minimum  Licence Fee for
         such Licensed Year has been determined.

10.7     If the aggregate of the Actual Net Wholesale  Sales from 1 January 2008
         until 31 December 2008:

         (A)      in   respect    of    Licensed    Products    is   less   than
                  [---------------------](6)    (subject   to    indexation   in
                  accordance with clause 10.9 below); or

         (B)      in respect of those Licensed Products described in paragraph C
                  of schedule 2 ("Men's and Women's Skin Care Products") is less
                  than  [-----------------------](7)  (subject to  indexation in
                  accordance with clause 10.9 below),

         Burberry  shall,  with effect from 31 December  2009,  be entitled,  by
         giving at least nine months'  notice  expiring on or before 31 December
         2009,  to  terminate  this  Agreement  (in respect of (A) above) or the
         Licence  Rights for Men's and Women's Skin Care Products (in respect of
         (B) above).

10.8     If the aggregate of the Actual Net Wholesale  Sales from 1 January 2012
         until 31 December 2012:

         (A)      in   respect    of    Licensed    Products    is   less   than
                  [------------------------](8)   (subject  to   indexation   in
                  accordance with clause 10.9 below); or

         (B)      in respect of Men's and  Women's  Skin Care  Products  is less
                  than  [------------------------](9)  (subject to indexation in
                  accordance with clause 10.9 below),

         Burberry  shall,  with effect from 31 December  2013,  be entitled,  by
         giving at least nine months'  notice  expiring on or before 31 December
         2013,  to  terminate  this  Agreement  (in respect of (A) above) or the
         Licence  Rights for Men's and Women's Skin Care Products (in respect of
         (B) above).

10.9     The  Minimum  Licence  Fee,  the Minimum  Net  Wholesale  Sales and the
         figures  set out in  clauses  10.7 and 10.8 (as the same may have  been
         previously  increased  pursuant to this clause 10.9) shall be increased
         in each Licensed Year for inflation by taking into account the increase
         in the Index from the Index last  published  in the  previous  Licensed
         Year  (or,  in  respect  of the first  Licensed  Year,  the Index  last
         published in the calendar year prior to the first  Licensed Year ("Base
         Index") but only if the Index  increases in such  Licensed Year by

---------------
(6)      CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SEC WITH
         A  REQUEST  FOR  CONFIDENTIAL  TREATMENT  BY INTER  PARFUMS,  INC.  NO.
         10.111:6.

(7)      CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SEC WITH
         A  REQUEST  FOR  CONFIDENTIAL  TREATMENT  BY INTER  PARFUMS,  INC.  NO.
         10.111:7.

(8)      CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SEC WITH
         A  REQUEST  FOR  CONFIDENTIAL  TREATMENT  BY INTER  PARFUMS,  INC.  NO.
         10.111:8.

(9)      CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SEC WITH
         A  REQUEST  FOR  CONFIDENTIAL  TREATMENT  BY INTER  PARFUMS,  INC.  NO.
         10.111:9.

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<PAGE>

         more than [----](10) and the first  [-----](10) of any such increase in
         any Licensed Year shall be disregarded  for the purposes of this clause
         10.9. The adjustment  shall be accomplished by multiplying the relevant
         amount,  by a fraction,  the numerator of which shall be the Index last
         published  prior to the end of the relevant  period and the denominator
         of which shall be in each  instance  the Base Index.  There shall be no
         decrease of such amounts in the case of deflation.

         PAYMENT DETAILS

10.10    All  Licence  Fees,  and  other  amounts  due to  Burberry  under  this
         Agreement  shall be exclusive of value added tax, sales tax, use tax or
         any and all other  similar taxes which shall be paid by the Licensee to
         Burberry at the applicable rate in addition to such amounts,  except to
         the extent that the Licensee satisfies Burberry that the conditions are
         met for the  relevant  supply  to be  outside  the  scope of such  tax.
         Accordingly,  the Licensee shall notify Burberry  immediately if it has
         or  establishes a place of business or fixed  establishment  within the
         European Union at which any rights licensed under this Agreement are or
         are to be used or to which any of such  rights are  supplied  or may be
         supplied.

10.11    All  payments  which are to be made by the  Licensee to Burberry  under
         this Agreement  whether they be Licence Fees or otherwise shall be made
         in Euros and shall be paid:

         (a)      by telegraphic transfer into Burberry's bank account at Lloyds
                  TSB Bank plc, City Office, PO Box 72, Bailey Drive, Gillingham
                  Business Park,  Kent ME8 0LS or such other account as Burberry
                  may nominate in writing from time to time and at the same time
                  the  Licensee  shall  fax a copy  of the  payment  slip to the
                  Authorised Business Representative; or

         (b)      if requested by Burberry by  remittance  of a bankers draft to
                  Burberry  at 18-22  Haymarket  London  SW1Y 4DQ (or such other
                  address  as  Burberry  may  from  time to time  notify  to the
                  Licensee) marked for the attention of the Authorised  Business
                  Representative  and a  copy  thereof  shall  be  sent  to  the
                  Authorised Legal Representative.

10.12    Interest shall accrue on all sums due from the Licensee to Burberry and
         outstanding  beyond the date of payment  specified  in this  Agreement.
         Such interest shall accrue:

         (A)      at the rate of  [-------------------](11)  per annum above the
                  base rate for pounds  sterling of Lloyds TSB Bank Plc (or such
                  other  major  UK  bank  as  Burberry  may  from  time  to time
                  designate in writing) from time to time in effect; and

         (B)      on a daily  basis both  before and after any  judgment  of any
                  court of law.

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(10)     CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SEC WITH
         A  REQUEST  FOR  CONFIDENTIAL  TREATMENT  BY INTER  PARFUMS,  INC.  NO.
         10.111:10.

(11)     CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SEC WITH
         A  REQUEST  FOR  CONFIDENTIAL  TREATMENT  BY INTER  PARFUMS,  INC.  NO.
         10.111:11.

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<PAGE>

         CURRENCY

10.13    (A)      The Estimated  Licence Fee and the Licence Fee shall always be
                  paid in euros ("Euro Amount").

         (B)      The Euro Amount shall be calculated as follows :

                  (1)      if the  Actual  Net  Wholesale  Sales are made in any
                           currency   other   than   pounds   sterling   ("Other
                           Currency"),  the Licence Fee shall be  calculated  in
                           the relevant Other Currency and converted into pounds
                           sterling at the  relevant  Other  Currency's  Due Mid
                           Market Rate (the "Sterling Amount"); and

                  (2)      the  Licensee  shall  convert  the  Sterling   Amount
                           referred to in clause 10.13(B)(1) above into euros at
                           the Payment Mid Market Rate on the date it pays.

         (C)      The Euro Amount for the Estimated Monthly Licence Fee shall be
                  calculated as follows :

                  (1)      If the  Estimated  Major Market  Sales and  Estimated
                           Other  Market  Sales  are   determined  in  an  Other
                           Currency,  the Estimated Monthly Licence Fee shall be
                           calculated  in  the  relevant   Other   Currency  and
                           converted  into the  Sterling  Amount at the relevant
                           Other Currency's Due Mid Market Rate; and

                  (2)      The  Licensee  shall  convert  the  Sterling   Amount
                           referred to in clause 10.14(C)(1) above into euros at
                           the Payment Mid Market Rate on the date it pays.

         (D)      The amount  payable  in  respect  of the Actual Net  Wholesale
                  Sales of sales made in the Other  Markets  (except in the case
                  of sales  made in any  jurisdiction  falling  within the Other
                  Markets  where the Licensee  receives an account of such sales
                  at the end of each  Month  for the sales  made in that  Month)
                  shall be converted into the Sterling  Amount at the end of the
                  Quarter in which the relevant  sales are made and the Licensee
                  shall  convert the  Sterling  Amount into euros at the Payment
                  Mid Market Rate prior to the date it pays the Licence Fee.

         (E)      For the purposes of this clause 10.13:

                  (1)      "Payment   Mid  Market   Rate"  means  the   relevant
                           currency's mid market rate as determined by reference
                           to  the  exchange   rate   published  in  the  London
                           Financial  Times on the last Working Day prior to the
                           date the  Licensee  pays the Licence Fee or Estimated
                           Monthly  Licence  Fee (as the case may be) or, in the
                           case of clause 10.13(D) above,  the amounts  referred
                           to in clauses 10.5, 10.6 and 10.12; and

                  (2)      "Due Mid Market Rate" means the  relevant  currency's
                           mid market rate as  determined  by  reference  to the
                           exchange  rate  published  in  the  London  Financial
                           Times:

                           (a)      on the last Working Day prior to the date on
                                    which the relevant  payment first became due
                                    for  Licence  Fees  calculated  on a Monthly
                                    basis  and  for  Estimated  Monthly  Licence
                                    Fees; and

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<PAGE>

                           (b)      the last Working Day prior to the end of the
                                    Quarter   for   Licence   Fees    calculated
                                    Quarterly.

11.                             REPORTING AND ACCOUNTING

11.1     The Licensee shall,  within thirty (30) days after the last day of each
         Month send by facsimile transmission or email, to be followed by a hard
         copy sent by post to Burberry at St Albans House,  10 St Albans Street,
         London,  SW1Y 4SQ (or such other address as Burberry shall from time to
         time specify in writing)  marked for the  attention  of the  Authorised
         Business Representative, a full and accurate account in respect of that
         Month (the  "Monthly  Account") in writing  certified as correct by the
         Chairman, President, Chief Executive Officer or Chief Financial Officer
         of the Licensee. The Monthly Account shall set out those details of the
         Licensee's  activities  which  are  described  in  appendix  A as being
         reportable on a Monthly basis

11.2     The Licensee shall,  within thirty (30) days after the last day of each
         Quarter,  send by facsimile  transmission or email, to be followed by a
         hard copy sent by post to  Burberry  at St Albans  House,  10 St Albans
         Street,  London, SW1Y 4SQ (or such other address as Burberry shall from
         time to time  specify  in  writing)  marked  for the  attention  of the
         Authorised  Business  Representative,  a full and  accurate  account in
         respect of that Quarter (the "Quarterly  Account") in writing certified
         as correct by the Chairman, President, Chief Executive Officer or Chief
         Financial Officer of the Licensee.  The Quarterly Account shall set out
         those  details of the  Licensee's  activities  which are  described  in
         appendix A as being  reportable  on a  Quarterly  basis and every other
         Quarterly  Account shall also set out those  details of the  Licensee's
         activities  which are described in appendix A as being  reportable on a
         semi-annual basis.

11.3     The  Licensee  shall  within  ninety  (90)  days  after the end of each
         Licensed  Year  deliver to Burberry  (marked for the  attention  of the
         Authorised Business  Representative) a full and accurate account in the
         format of the Quarterly Account unless otherwise  specified by Burberry
         from time to time (the "Annual Account")  specifying in respect of such
         information  in  relation  to  Licensed  Products  manufactured  and/or
         Returned  and/or  sold  during  such  Licensed  Year as is  required in
         respect  of  Quarterly  Accounts  under  clause  11.2 and  details  and
         documentary   proof  of  all  amounts  actually  spent  in  respect  of
         Advertising and Promotional Activities. The Licensee shall also deliver
         with  the  Annual  Account  the  documentary  evidence  referred  to in
         appendix A. Each Annual Account shall be certified as correct by:

         (A)      the  Chairman,  President,  Chief  Executive  Officer or Chief
                  Financial Officer of the Licensee; and

         (B)      one of the four  largest  international  firms or an  Approved
                  firm of certified public accountants (and, for the purposes of
                  this  clause  11.3 any  accounting  firm that is a  nationally
                  recognised firm in France and regarded as an auditor to French
                  publicly traded companies or a member of, and in good standing
                  with the U.S.  Public Company  Accounting  Oversight  Board is
                  Approved);

         and in the event of any  inconsistency  between the Annual  Account and
         the Quarterly  Accounts for the Licensed  Year in question,  the Annual
         Account shall prevail.

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<PAGE>

11.4     Within ninety (90) days of the termination of this Agreement (or, where
         there is a Sell-Off Period,  the termination of such Sell-Off  Period),
         the Licensee shall submit an account (the "Final  Account") to Burberry
         in respect of the period from the date of the last Annual Account up to
         the  date of  termination.  The  Final  Account  shall be  prepared  in
         accordance with the requirements of this Agreement applicable to Annual
         Accounts.

11.5     The Licensee shall for seven years from the date of their creation:

         (A)      keep,  and use its  reasonable  endeavours to procure that all
                  Approved Contractors and Distributors shall at all times keep,
                  in accordance with generally  accepted  accounting  principles
                  applicable to the relevant party complete and accurate (in all
                  material  respects) books and records in a form  (computerised
                  or  otherwise)   which  is  readily   retrievable  and  easily
                  interpreted relating to all of the dealings of the Licensee or
                  such  Approved  Contractor or  Distributor  in relation to any
                  Licensed Products and other Burberry Items,  including without
                  limitation but to the extent relevant to the party in question
                  as to:

                  (i)      all  purchases  and  sales  or  other   disposals  or
                           dealings by the Licensee,  any Approved Contractor or
                           Distributor  of all and  any  Licensed  Products  and
                           other Burberry Items;

                  (ii)     all  Burberry  Items  manufactured  by  the  Licensee
                           and/or any Approved Contractor;

                  (iii)    production, manufacturing and distribution records;

                  (iv)     the    Licensee's,    Approved    Contractors'    and
                           Distributors'   labour  practices  and  environmental
                           obligations  and  corresponding  compliance  with all
                           relevant Laws;

                  (v)      the number of Licensed  Products  and other  Burberry
                           Items  held  in  stock  by  the  Licensee,   Approved
                           Contractors and Distributors;

                  (vi)     copies of all Quarterly  Accounts and Annual Accounts
                           and supporting documentation in respect thereof;

                  (vii)    if the party's  accounts were audited,  copies of its
                           audited accounts for the previous two (2) years;

                  (viii)   if the party's accounts were audited,  working papers
                           that support the key balances included on each set of
                           audited accounts including,  without  limitation,  an
                           analysis of stock held as at the date of the accounts
                           (by product  line  identifying  the stock of Burberry
                           Items  held)  and an  analysis  of sales  and cost of
                           sales of Licensed Products;

                  (ix)     management accounts for each Quarter;

                  (x)      stock and  production  records  for all  transactions
                           relating to the Licensed Products;

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<PAGE>

                  (xi)     standard  costing sheets agreed with  contractors for
                           transactions relating to the Licensed Products;

                  (xii)    list  of  Approved   Contractors,   Distributors  and
                           Retailers  and  copies  of all  contracts  with  such
                           Approved Contractors and Distributors;

                  (xiii)   purchase records for all transactions relating to the
                           Licensed   Products   or  raw   materials   therefor,
                           including without  limitation,  invoices,  statements
                           and goods received notes;

                  (xiv)    sales records including without limitation  invoices,
                           statements and despatch records; and

                  (xv)     copies of all brochures  and price lists  relating to
                           the Licensed Products; and

         (B)      procure  that  Burberry   and/or  its  employees,   agents  or
                  professional  advisers  are  permitted  with  respect  to  the
                  Licensee,  and to use reasonable  commercial  endeavours  with
                  respect to its Approved  Contractors and  Distributors  during
                  normal business hours and upon reasonable  advance notice,  to
                  inspect  and make and retain  copies of such books and records
                  as are  referred  to at clause  11.5(A)  and all and any other
                  books  of  account  and  business  records  as are kept by the
                  Licensee, any Approved Contractor and/or any Distributor which
                  relate  to the  Burberry  Items,  that  Burberry  and/or  such
                  employees,  agents or  professional  advisers  are given  such
                  access  to the  Licensee's,  any  such  Approved  Contractor's
                  and/or Distributor's  employees and auditors as is required in
                  order to interview the same for the purposes of gaining access
                  to, interpreting and/or verifying such books and records,  and
                  that  full  co-operation  is given by the  Licensee,  any such
                  Approved  Contractor and  Distributor  and their employees and
                  auditors in relation to any such inspection  and/or  interview
                  and  that   Burberry   and/or   such   employees,   agents  or
                  professional  advisors  are  given  access  to the  Licensee's
                  Approved  Contractors'  and  Distributors'  premises  at which
                  Licensed  Products  and/or other  Burberry Items are stored in
                  order to establish the number of such items held in stock.

11.6     If any such  investigation as is described in clause 11.5(B) shows that
         the relevant Account(s) rendered by the Licensee had underestimated the
         Licence  Fees  due to  Burberry  then  any  underpayment  shall be paid
         forthwith on Burberry's demand or, if Burberry so agrees, together with
         the next  Quarterly  payment of Licence  Fees,  together  with interest
         thereon  calculated in accordance  with clause 10.12,  and in the event
         that the amount of such  underpayment in respect of any Quarter exceeds
         3% (three per cent) of the  Licence  Fee found to be payable in respect
         of that  Quarter or in the event  that the  documents  and  information
         referred  to in  clause  11.5(A)  above  have not been  maintained  and
         retained by the  Licensee  and made  available  to Burberry  and/or its
         employees,  agents or  professional  advisors in accordance with clause
         11.5(B) the  Licensee  shall in addition  pay to Burberry on demand the
         cost of and expenses incurred in connection with such  investigation on
         a full indemnity  basis. If any such  investigation  as is described in
         clause 11.5 shows that the relevant Account(s) rendered by the Licensee
         had  overestimated   the  Licence  Fees  due  to  Burberry,   then  any
         overpayment  shall  be  credited  to the  Licensee  and  dealt  with as
         described in clause 10.5. The results of any such  investigation  shall
         be final and binding upon the parties if:

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         (A)      the  investigation  was  conducted  by one of the four largest
                  international firms of certified public accountants;

         (B)      the  Licensee was given the  opportunity  to discuss with such
                  firm the  conduct and  results of its  investigation  and such
                  firm   considered  the  Licensee's   view  expressed  in  such
                  discussion in good faith; and

         (C)      such firm conducted its  investigation  on an independent  and
                  objective basis.

11.7     The Licensee shall supply to Burberry a copy of:

         (A)      its audited  accounts as soon as such accounts are  circulated
                  to its shareholders; and

         (B)      its tax  return  as  soon as it is  filed  with  the  relevant
                  authorities in accordance with French law.

12. DEFECTIVE STOCK

12.1     The Licensee shall provide to Burberry within 120 days after the end of
         each  Licensed  Year details of the nature and  quantities of Defective
         Stock, and the amount that has been destroyed during such period.

12.2     The Licensee  shall  destroy and shall  procure that the members of the
         Licensee's  Group and the  Distributors  shall  destroy  all  Defective
         Stock.  Any such  destruction  shall be  witnessed  and  verified by an
         independent  observer (or at Burberry's request by such nominee in that
         part of the Territory as Burberry shall from time to time nominate) and
         shall be carried out in accordance  with the  Environmental  and Social
         Policy.  The Licensee  shall procure that the members of the Licensee's
         Group and Distributors shall not sell, transfer or otherwise dispose of
         such Defective Stock.

13.      PRODUCT RECALL

13.1     Burberry  shall be  entitled  at any time in  respect  of any  Licensed
         Product to require that:

         (A)      the  Licensee   withdraws  and  undertakes  to  use  its  best
                  endeavours  to  ensure  that all  Distributors  and  Retailers
                  withdraw all Licensed  Products  from sale as soon as possible
                  and in any event to commence such  withdrawal  within 24 hours
                  of a written  notice of such  requirement  of  Burberry in the
                  event  that any  Licensed  Product  does not  comply  with its
                  specifications,  any  Laws  or  any  requirements  under  this
                  Agreement (the "Notice"); and

         (B)      the Licensee  withdraws and uses its best endeavours to ensure
                  that all Distributors and Retailers complete the withdrawal of
                  all the Licensed  Products  from the premises of all Retailers
                  and Distributors within 48 hours of the Notice;

         (C)      the Licensee fully complies with and uses its best  endeavours
                  to ensure that the  Distributors  and  Retailers  fully comply
                  with any product recall  Procedures that have been Approved by
                  Burberry  in respect  of the  Licensed  Products  that are the
                  subject of the Notice; and

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         (D)      in the event of any failure to comply in all material respects
                  with the  provisions  of clauses  13.1(A),  13.1(B) or 13.1(C)
                  such  failure  shall   constitute   material  breach  of  this
                  Agreement by the Licensee.

14.      SUPPLY OF LICENSED PRODUCTS TO BURBERRY AND ITS GROUP

14.1     At the  beginning  of each  Licensed  Year the  Licensee  shall  supply
         Burberry  free of  charge  with  such  number  of sets  of  samples  as
         reasonably  requested by Burberry  for use at the Burberry  Group's and
         Burberry  Agents'  showrooms which are  representative  of the Licensed
         Products to be offered for sale in that Licensed Year. In addition, the
         Licensee shall supply to Burberry such further Licensed Products as may
         from  time to time  reasonably  be  requested  by  Burberry  for use as
         samples at no charge.  The  Licence Fee shall not be payable in respect
         of such Licensed Products.

14.2     Any category or type of Licensed Product offered by the Licensee to any
         Retailer or Distributor  shall also be offered for sale to the Burberry
         Group  (including  without  limitation  for the purposes of this clause
         14.2 to any third  party which  operates a Burberry  Store from time to
         time),  it  being  understood  and  agreed  that  the  Licensee  or its
         Subsidiaries  may  not  offer  any  Licensed  Product  for  sale to any
         Retailer   or   Distributor    unless   such   Licensed    Product   is
         contemporaneously  offered  to the  Burberry  Group  and  the  Licensee
         complies with this clause 14. All promotional and discount offers ("P&D
         Offers") relating to Licensed Products shall be offered to the Burberry
         Group at the same time as or before they are offered to any Retailer or
         Distributor.  Upon the request of Burberry the Licensee  shall  provide
         Burberry  with a list of all  such P&D  Offers  offered  during  the 12
         months prior to the request.

14.3     Burberry  and any member of the Burberry  Group (which term shall,  for
         the  purpose of this  clause  14.3 only,  include any third party which
         operates a Burberry Store from time to time) shall be entitled to place
         orders for the purchase of Licensed Products for resale at any Burberry
         Store or  Burberry  Website.  The  Licensee or its  Subsidiaries  shall
         promptly fulfil such orders (or shall procure that a Distributor  shall
         promptly  fulfil  such  orders)  at a price  which  is the  List  Price
         applicable  in the  geographical  market of the relevant  member of the
         Burberry  Group  minus  a  discount  of  [-----](12).  If the  discount
         practices  of the  Licensee  and/or the  Distributors  change  from the
         levels  customarily given at the date of this Agreement so that greater
         discounts are given either directly or indirectly the level of discount
         shall be increased  from  [-----](12) to such higher number as shall be
         reasonably  determined  by Burberry.  For the  avoidance of doubt,  the
         Licence Fee shall be payable in respect of all such Licensed Products.

14.4     Because of the  overriding  needs of  Burberry  Stores  for  sufficient
         quantities  of  Licensed  Products  when and as  needed,  any order for
         Licensed  Products placed with the Licensee by a member of the Burberry
         Group  will  have   priority   over  any  other   order  and  shall  be
         manufactured,  shipped and delivered no later than shipment or delivery
         of any  contemporaneous or subsequent orders for Licensed Products from
         other customers of the Licensee, unless any such member of the Burberry
         Group shall request a later delivery of its order.

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14.5     All  supplies of Licensed  Products by the  Licensee to Burberry or any
         member of the Burberry Group pursuant to either of clauses 14.2 or 14.3
         or  otherwise  under this  Agreement  shall take place on the  standard
         terms of purchase of Burberry or the  relevant  member of the  Burberry
         Group current at the date of the relevant  order, a copy of which terms
         will on request be provided to the Licensee.

15.      ADVERTISING AND MARKETING

15.1     The parties agree that, notwithstanding the termination of the Original
         Licence  Agreement  and  its  replacement  with  this  Agreement,   the
         provisions of clauses 11.1 and 11.2 of the Original  Licence  Agreement
         shall  continue  to  have  effect  from  the  Effective  Date up to and
         including 31 December 2004.

         With effect from 1 January  2005 and for the  remainder  of the term of
         this  Agreement,  the Licensee  shall spend the following in respect of
         Advertising and Promotion in accordance with clause 15.3:

         (A)      in respect of Launch  Products the  Advertising  and Promotion
                  expenditure  shall be calculated on a  Geographical  Region by
                  Geographical  Region basis so that in each Geographical Region
                  of the Territory, it shall be:

                  (1)      in  the  first  six  months  of the  Advertising  and
                           Promotion  of a Launch  Product in such  Geographical
                           Region,  [-----](13)  of the  aggregate  value of the
                           Projected  Sales for the first six months of sales of
                           such Launch Product in that Geographical Region; and

                  (2)      in the  second  six  months  of the  Advertising  and
                           Promotion  of a Launch  Product in such  Geographical
                           Region,  [-----](14)  of the  aggregate  value of the
                           Projected  Sales for the second  six months  sales of
                           such Launch Product in that Geographical Region.

                  The  aggregate of the amounts to be spent on  Advertising  and
                  Promotion in all of the  Geographical  Region of the Territory
                  pursuant to clauses  15.1(A)(1) and  15.1(A)(2)  shall for the
                  purposes of this clause 15.1 hereinafter be referred to as the
                  "Aggregate  Spend".  If the expenditure  for any  Geographical
                  Region becomes less than the amount  stipulated  under clauses
                  15.1(A)(1)   or   15.1(A)(2)    above   (as    applicable)(the
                  "Threshold"),  the Licensee must spend the difference  between
                  the  Threshold  and  the  actual   Advertising  and  Promotion
                  expenditure in the relevant  Geographical Region in such other
                  Geographical  Region or Geographical  Regions as it may choose
                  provided  that at all times the  Licensee  spends no less than
                  the Aggregate Spend in the Territory.

                  For the  purposes  of clause  15.1(A),  "Geographical  Region"
                  means one of the following:

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                  (i)      Europe;

                  (ii)     United States of America and Canada;

                  (iii)    South America;

                  (iv)     Asia Pacific; and

                  (v)      Any  other  geographical  areas or  countries  in the
                           Territory other than those listed in (i), (ii), (iii)
                           or (iv) above,

                  and,  in  case  of  any  doubt  as  to  whether  a  particular
                  geographical  area or a country should fall in any one of (i),
                  (ii),  (iii),  (iv)  or (v)  above  due  to  its  geographical
                  location,  Burberry has  discretion,  which it shall  exercise
                  reasonably, in allocating that particular geographical area or
                  a country into one of the Geographical Regions.

         (B)      in respect of all other  Licensed  Products for each  Licensed
                  Year of this  Agreement,  [----](15) of the aggregate value of
                  the Projected Sales for such Licensed Products in the Business
                  Plan; and

         (C)      [------](16)  of the  expenditure  in  clause  15.1(A)(1)  and
                  15.1(A)(2)  and  [------](17)  of the  expenditure  in  clause
                  15.1(B) and the Supplementary Advertising Spend in clause 15.2
                  shall be spent on Direct Production Costs and Advertising.

15.2     (A)      If the Actual  Net  Wholesale  Sales in  respect  of  Licensed
                  Products in any Licensed  Year are greater than the  Projected
                  Sales for that  Licensed  Year,  the  difference  between  the
                  amount  actually  spent on  Advertising  and Promotion in that
                  Licensed  Year and the  amount  that would have been spent had
                  the  Advertising  expenditure  been calculated by reference to
                  the Actual Net Wholesale Sales (the "Supplementary Advertising
                  Spend")   shall  be  used  to  fund   additional   Advertising
                  expenditure  in  the  next  following   Licensed  Year.   Such
                  Supplementary  Advertising  Spend  shall be in addition to the
                  Advertising  expenditure  calculated in accordance with clause
                  15.1 above for that Licensed Year.

         (B)      If the Actual Net Wholesale  Sales are greater than  Projected
                  Sales for the final  Licensed Year, the Licensee shall pay the
                  Supplementary  Advertising  Spend to Burberry within 7 days of
                  the date of termination of this Agreement.

         (C)      Subject always to the  provisions of clauses  15.2(D) and 15.2
                  (E) below if the Actual Net  Wholesale  Sales in any  Licensed
                  Year are less than the Projected Sales for that

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                  Licensed  Year,  the  Licensee  shall be  entitled  to  deduct
                  [----](18) of the difference between the amount actually spent
                  on Advertising and Promotion in any such Licensed Year and the
                  amount that should have been spent by  reference to Actual Net
                  Wholesale  Sales in any Licensed Year from the amount spent on
                  Advertising and Promotion in the next following Licensed Year.

         (D)      No  deduction  can be made  pursuant to clauses  15.2(C)  that
                  results in the amount spent on  Advertising  and  Promotion of
                  Licensed  Products  being less than  [----](19)  of the amount
                  that should have been spent pursuant to clause 15.1.

         (E)      In  addition  to  clause  15.2(D),  no  deduction  can be made
                  pursuant to clause  15.2(C) for a Licensed  Year if the Actual
                  Net  Wholesale  Sales for the  Licensed  Year  preceding  such
                  Licensed Year is less than the Minimum Net Wholesale Sales for
                  such preceding Licensed Year.

15.3     The Licensee shall, and shall procure that any third party appointed by
         it shall,  carry out all  Advertising  and  Promotional  Activities  in
         respect of the Licensed Products in full consultation with Burberry and
         subject to Burberry's  Approval and the Licensee shall not Advertise or
         Promote the Licensed  Products in any manner without Approval as to the
         form and content of the  Advertisement  or Promotion and the particular
         manner in which the  Advertisement  or  Promotion is to be published or
         otherwise  presented to  potential  customers  (which  Approvals as are
         described in this clause 15.3, for the avoidance of doubt,  shall be in
         addition to Approval of any Business Plan given  pursuant to clause 8.2
         above) and  generally  all  Advertising  and  Promotion of the Licensed
         Products shall be carried out in a tasteful and appropriate  manner and
         not in any way which might detrimentally  affect Burberry's  reputation
         for high quality prestige products. Without prejudice to the foregoing:

         (A)      where in conjunction  with the Advertising or Promotion of the
                  Licensed  Products the Licensee wishes to display,  feature or
                  use in any way any other  products of any  description,  where
                  either  Burberry  or any  licensee  of  Burberry  manufactures
                  and/or  sells those  products  bearing  Burberry  Intellectual
                  Property,  the  Licensee  shall only  display,  feature or use
                  those products; and

         (B)      where the  Licensee  participates  in trade shows the Licensee
                  shall;

                  (i)      only display the Licensed Products in an area clearly
                           identified as "Burberry";

                  (ii)     not  display  the  Licensed  Products  (in  the  area
                           clearly  defined  as  "Burberry")  with any  products
                           which  do  not  feature  any  Burberry   Intellectual
                           Property; and

                  (iii)    use any  fixtures  provided by Burberry  from time to
                           time  and  otherwise  use  fixtures  which  are of an
                           appropriate standard for the Licensed Products.

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15.4     The  Licensee  shall  engage  such  advertising  agency or  agencies as
         Burberry  may from time to time  Approve,  save that in  respect of the
         United Kingdom,  France, Italy, Spain, Germany,  U.S.A., Canada, Japan,
         China and Korea,  the  Licensee  shall use such  advertising  agency or
         agencies as Burberry  shall  direct  taking  account of the  Licensee's
         written comments on the quality and cost of such agencies.

15.5     The  Licensee  agrees,  upon the  reasonable  request of  Burberry,  to
         participate at the Licensee's expense in Promotional Activities jointly
         with Burberry and other licensees, including, without limitation, trade
         shows,  fashion shows and special events in which  Burberry  chooses to
         participate and such  expenditure  shall be included in the expenditure
         referred to in clause 15.1.

15.6     Subject  to  clause  15.7,  the  Licensee  shall,  if so  requested  by
         Burberry,  include  in any  Advertisement  or  Promotion  at no cost to
         Burberry other products bearing Burberry Intellectual Property produced
         by or on behalf of Burberry provided that Burberry reasonably considers
         such products to be complementary to the Licensed Products.

15.7     For the  avoidance  of doubt  Burberry  shall be  entitled to make it a
         condition of any  Approval  given in respect of this clause 15 that the
         Licensee uses photographs,  models, photographers,  campaigns and other
         images and materials provided by Burberry.

15.8     The  Licensee  shall  supply to Burberry  free of charge such number of
         Licensed Products as reasonably  required by Burberry from time to time
         for Promotional or Advertising purposes including,  without limitation,
         for distribution at public, charity and media events.

15.9     GWPS AND TESTERS

15.9.1   GWPS

         (A)      Subject to clauses  15.9.1(C) and 15.9.1(D) below,  GWPs shall
                  only  be  disposed  of  by  the  Licensee  to  Retailers,   by
                  Distributors  to Retailers  and by Retailers to consumers as a
                  free promotional item with the sale of Licensed Products which
                  are Products.

         (B)      If Burberry  reasonably believes that any Retailer has sold or
                  is likely to sell GWPs for money or  money's  worth,  Burberry
                  shall be entitled to withdraw immediately its Approval of such
                  Retailer.

         (C)      If GWPs are sold for money or money's worth by the Licensee to
                  Retailers   or  by   Distributors   or   Retailers   to  other
                  Distributors  or Retailers,  as the case may be, a Licence Fee
                  shall be payable on such GWPs,  which shall be  calculated  by
                  multiplying  a  notional  price  for  such  GWPs   (reasonably
                  determined by Burberry) by [-----](20).

         (D)      The Licensee may only sell GWPs to Distributors without paying
                  a royalty,  if such GWPs are sold,  for money or moneys worth,
                  for an amount no greater than the manufacturing  cost price of
                  such GWPs plus [-----](21)  ("GWP  Distributor  Cost"). In the

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                  event that GWPs are sold by the Licensee to Distributors,  for
                  money or  moneys  worth,  for an amount  greater  than the GWP
                  Distributor Cost ("Actual Sale Price"),  the Licensee will pay
                  Burberry  [------](22)  of the  difference  between the Actual
                  Sale Price and the GWP  Distribution  Cost as a royalty  ("GWP
                  Royalty"), so that where:

                  A = GWP Distributor Cost

                  B = Actual Sale Cost

                  R = GWP Royalty

                  R = [-----](23) x (B - A).

                  The GWP Royalty will be paid every six months,  with the first
                  GWP Royalty payment being due on the 31 December 2004 and then
                  every 30 June and 31 December  thereafter and shall be payable
                  within 30 days of such date.  The provisions of clauses 10.10,
                  10.11,  10.12 and 10.13 shall  apply,  and the  provisions  of
                  clause 11 shall apply mutatis mutandis, to such GWP Royalty.

         (E)      For the purposes of clause 15.9.1,  GWPs shall be deemed to be
                  Advertising and Promotional Expenditure and have a value of no
                  more  than  the  manufacturing  cost  price  of such  GWPs and
                  Testers plus [-----](24).

15.9.2   TESTERS

         (A)      Subject to clauses  15.9.2(C)  and  15.9.2(D)  below,  Testers
                  shall only be disposed of by the  Licensee  to  Retailers,  by
                  Distributors  to Retailers  and by Retailers to consumers as a
                  free promotional item with the sale of Licensed Products which
                  are Products.

         (B)      If Burberry  reasonably believes that any Retailer has sold or
                  is likely to sell Testers for money or money's worth, Burberry
                  shall be entitled to withdraw immediately its Approval of such
                  Retailer.

         (C)      If Testers are sold for money or money's worth by the Licensee
                  to  Retailers  or  by   Distributors  or  Retailers  to  other
                  Distributors  or Retailers,  as the case may be, a Licence Fee
                  shall be payable on such Testers, which shall be calculated by
                  multiplying  a  notional  price for such  Testers  (reasonably
                  determined by Burberry) by [----](25).

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         (D)      If Testers are sold by the Licensee for money or money's worth
                  to  Distributors  a royalty  shall be payable on such sales of
                  Testers,  which shall be calculated by multiplying  the actual
                  total   price   (being  the  actual   price   payable  by  the
                  Distributors  in  respect  of such  sales) of such  Testers by
                  [-----](26) (the "Tester Royalty"). The Tester Royalty will be
                  paid every six months,  with the first Tester Royalty  payment
                  being due on the 31  December  2004 and then every 30 June and
                  31 December  thereafter and shall be payable within 30 days of
                  such date. The provisions of clauses 10.10,  10.11,  10.12 and
                  10.13 shall apply, and the provisions of clause 11 shall apply
                  mutatis mutandis, to such Tester Royalty.

         (E)      For the purposes of clause 15.9.2,  Testers shall be deemed to
                  be Advertising and Promotional Expenditure and have a value of
                  no more than the manufacturing cost price of such Testers plus
                  [-----](27).

16.      WARRANTIES AND COMPLIANCE

16.1     The  Licensee  warrants  and  represents  that the  information  it has
         provided concerning the management of, the control of and the legal and
         beneficial  ownership of the issued share capital of the Licensee as at
         the Effective Date and all family interests and influence in respect of
         such  management,  control  and/or  ownership was when given and is now
         accurate  and  complete  in all  material  respects  and  there  are no
         omissions  from  such   information   which  render  such   information
         misleading in any material respect.

16.2     The rights  granted  under this  Agreement  are granted to the Licensee
         only  and no  member  of the  Licensee's  Group  shall be  entitled  to
         exercise the rights granted to the Licensee except Subsidiaries who are
         Distributors  to  the  extent   necessary  to  perform  their  role  as
         distributor.  In  addition  without  prejudice  to  the  foregoing  the
         Licensee shall procure that no company within the Licensee's Group does
         anything  which  if done  by the  Licensee  would  be  contrary  to the
         Licensee's obligations in this Agreement.

16.3     Without  prejudice to the Licensee's  obligations and Burberry's  right
         and remedies under this Agreement, Burberry may request the Licensee at
         any time:

         (A)      to confirm in writing signed by the Chairman, President, Chief
                  Executive  Officer or Chief Financial  Officer of the Licensee
                  that it is not in breach of any of the terms and conditions of
                  this Agreement; and

         (B)      to undertake  in writing  signed by the  Chairman,  President,
                  Chief  Executive  Officer  or Chief  Financial  Officer of the
                  Licensee  to  continue  to  comply  with  all  the  terms  and
                  conditions of this Agreement,

         and any such  confirmation  and  undertaking  shall be  provided by the
         Licensee within 30 (thirty) days of such request.

-----------------
(26)     CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SEC WITH
         A  REQUEST  FOR  CONFIDENTIAL  TREATMENT  BY INTER  PARFUMS,  INC.  NO.
         10.111:26.

(27)     CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SEC WITH
         A  REQUEST  FOR  CONFIDENTIAL  TREATMENT  BY INTER  PARFUMS,  INC.  NO.
         10.111:27.

                                       50
<PAGE>

17.      INTELLECTUAL PROPERTY

17.1     All Intellectual  Property Rights subsisting in any Licensed  Products,
         Formulae and/or all Advertising and Promotional  Materials (except that
         where such  materials are created by third  parties  clause 17.18 shall
         apply)  created  and/or  used  in  respect  of  the  Licensed  Products
         including (but not limited to):

         (A)      copyright and design right or similar rights in:

                  (i)      the Licensed Products  (including  without limitation
                           all external and internal features thereof); and

                  (ii)     all  drawings,  sketches,  plans,  designs,  artwork,
                           illustrations,    models,   instructions,   Formulae,
                           computer  programs,  processes,  tooling  and  moulds
                           created for the purpose of designing and/or producing
                           the Licensed Products; and

                  (iii)    all  corresponding  photographs,  drawings,  designs,
                           artwork  and  text  in  Advertising  and  Promotional
                           Materials; and

         (B)      all patent applications and patents in respect of the Licensed
                  Products;

         shall vest in Burberry,  and to the extent that any of the same vest in
         the Licensee  inadvertently or otherwise the Licensee holds the same in
         trust for  Burberry and shall  immediately  assign the legal title (and
         where possible assigns hereby by way of a present  assignment of future
         rights)  in the same with full  title  guarantee  to  Burberry  and all
         goodwill  howsoever arising in respect of the foregoing shall accrue to
         Burberry.  For the  avoidance of doubt,  any  know-how  relating to the
         Formulae  created  by  the  Licensee  under  this  Agreement  shall  be
         immediately  disclosed to Burberry and all rights of confidence in such
         know-how  shall vest in  Burberry.  The  Licensee  shall not (and shall
         procure that its employees and Approved Contractors shall not) use such
         know-how  other than for the purposes of this Agreement and shall adopt
         the same obligations of confidentiality in relation to that know-how as
         exist under  clause  26.1 in  relation  to any other  know-how or trade
         secrets of Burberry.

17.2     All Intellectual Property Rights in and to all names brands trade names
         and trade marks (both registered and  unregistered)  applied to or used
         in connection with any or all of the Licensed  Products  (including any
         Varied  Trade Names and New Trade  Names) shall vest in and remain with
         Burberry and where the same vest in the  Licensee  the  Licensee  shall
         assign the same with full title guarantee to Burberry subject to:

         (A)      the same being  licensed to the  Licensee in  accordance  with
                  clause 2;

         (B)      Burberry agreeing,  where the Intellectual Property Rights are
                  registrable, to register the same at the applicable registries
                  in the Territory at the expense of the Licensee; and

         (C)      the Licensee's  licence in respect  thereof being noted (where
                  possible) on the relevant register,

         and all goodwill  howsoever  arising in respect of the foregoing  shall
         accrue to Burberry.

                                       51
<PAGE>

17.3     The Licensee shall and shall procure that:

         (A)      its employees, officers and/or agents;

         (B)      its Approved Contractors and their employees,  officers and/or
                  agents;

         (C)      its advertising  agents and their  employees,  officers and/or
                  agents; and

         (D)      other  third  parties  who may from time to time carry out any
                  creative,   literary  or  artistic  work  in  connection  with
                  advertising and/or marketing of the Licensed Products,

         shall (and in the case of any of the third parties listed in (A) to (D)
         above the Licensee shall use its best  endeavours to procure that it is
         a term of the  Licensee's  contract  with such third  parties that such
         third parties  shall) at the  Licensee's  expense  promptly do all such
         acts and execute all such documents (including without limitation using
         its best  endeavours to procure the execution of the  assignment in the
         form  annexed  hereto at  appendix  B as  amended  from time to time by
         Burberry) as Burberry may from time to time require to vest or transfer
         title to all such Intellectual Property Rights as are stated to vest in
         Burberry in clauses  17.1 and 17.2 in or to Burberry  and to perfect or
         confirm  such title and (in respect of any works in which  copyright or
         analogous  rights  subsist) shall waive and use its best  endeavours to
         obtain waivers of all and any "moral rights" in respect of the same. In
         respect  of any of the  third  parties  listed  in (A) to (D) above the
         Licensee shall use its best endeavours to procure at Burberry's request
         that such persons,  including without  limitation  employees,  officers
         and/or agents execute  confidentiality  undertakings directly in favour
         of Burberry.

17.4     Subject to clause 17.13, the Licensee shall:

         (A)      at  Burberry's  expense  (unless  clauses 17.2 or 17.13 apply)
                  co-operate  fully with Burberry in connection  with the filing
                  registration  and  prosecution  of any  names,  brands,  trade
                  names, trade marks,  designs and patents applied to or used in
                  connection with any or all of the Licensed Products; and

         (B)      supply to Burberry such samples  containers  labels  documents
                  and things as may from time to time be  required  by  Burberry
                  for such purpose.

17.5     The  Licensee  shall not at any time  during the  continuation  of this
         Agreement   seek  to  register  in  any   jurisdiction   any   Burberry
         Intellectual Property or any name or mark or design or any other matter
         whatsoever  which is  phonetically  and/or  confusingly  similar to any
         Burberry Intellectual  Property. The Licensee acknowledges the sole and
         exclusive  rights  and  title  of  Burberry  in  and  to  the  Burberry
         Intellectual  Property  and  that all  goodwill  howsoever  arising  in
         respect of the Burberry Intellectual Property accrues to Burberry.

17.6     The Licensee  shall promptly  notify  Burberry of any  infringement  or
         suspected  infringement by a third party of any of Burberry's rights in
         any Burberry  Intellectual  Property  which may come to the  Licensee's
         attention.

17.7     The Licensee  shall at the expense of Burberry  give  Burberry all such
         information  and  assistance  (other  than  financial   assistance)  as
         Burberry may  reasonably  require to enable such  proceedings  or other
         action  to be  taken  in  relation  to any  infringement  or  suspected
         infringement of any Burberry  Intellectual  Property as Burberry may in
         its sole discretion deem

                                       52
<PAGE>

         necessary or  desirable,  and the  Licensee  shall not do or omit to do
         anything which may prejudice  Burberry's conduct of such proceedings or
         other action.

17.8     Except  as  provided  in clause  17.9 the  Licensee  shall  not  itself
         institute proceedings or take any other action against any infringer or
         suspected infringer of the rights of Burberry in Burberry  Intellectual
         Property without Approval.

17.9     Burberry gives no warranty or undertaking  that it will take any action
         or commence any  proceedings in any particular  case of infringement or
         alleged infringement of the rights of Burberry in Burberry Intellectual
         Property PROVIDED THAT if Burberry does not take action to prevent such
         infringement or alleged  infringement in any case involving the sale of
         high  quality   Products  which  are  likely  to  be  perceived  (by  a
         substantial proportion of relevant consumers in any jurisdiction) to be
         products  manufactured  by Burberry (or by a third party under  licence
         from  Burberry),  to the extent that this  failure to take action has a
         quantifiable and demonstrable impact on the Licensee's sale of Licensed
         Products in the relevant  market in any Licensed  Year, the Minimum Net
         Wholesale  Sales will be reduced  appropriately.  In  considering  what
         might be an appropriate  reduction to Minimum Net Wholesale  Sales, the
         parties  shall have  regard to the fact that the level of  Minimum  Net
         Wholesale  Sales is  substantially  below the parties'  expectations of
         Actual  Net  Wholesale  Sales as at the date of this  Agreement.  Where
         Burberry does take any such action or commence any such proceedings any
         sums recovered by Burberry therefrom shall be retained by Burberry.  In
         the event that  Burberry  does not take any action  within three months
         after having received notice of all the circumstances  relevant to such
         infringement or alleged  infringement then the Licensee may give notice
         to Burberry stating that Burberry has not taken any action and that the
         Licensee wishes to take action.  Within twenty one (21) days of receipt
         of such notice  Burberry  may in its sole  discretion  either take such
         action in which event the Licensee  shall  reimburse  Burberry with all
         costs,  expenses and damages  suffered  and/or  incurred by Burberry or
         notify the Licensee that it may take action in which event the Licensee
         may (so far as  permitted  by  relevant  law) take such action or bring
         such  proceedings  at its own expense  and  insofar as it recovers  any
         damages from any such action or proceedings shall be entitled to retain
         those damages.  In the event that the Licensee does take such action or
         bring such proceedings, the Licensee shall at all times promptly supply
         to Burberry all such information in relation thereto as is likely to be
         of interest to Burberry,  and any other information in relation thereto
         as Burberry requests,  and shall follow all reasonable directions given
         by Burberry in relation  thereto.  For the  avoidance of doubt,  in the
         event that the Licensee does take action or bring proceedings  pursuant
         to this clause, the Minimum Net Wholesale Sales shall not be reduced.

17.10    Burberry  warrants  (except in respect  of Varied  Trade  Names and New
         Trade  Names)  that it is and will  continue  to be during the Term the
         registered  rightholder  of the Licensed  Trade Marks in the  Territory
         (where the Licensed Trade Marks have been  registered in the Territory)
         and that the use of the  Licensed  Trade  Marks  (except  in respect of
         Varied  Trade  Names  and New  Trade  Names)  in  accordance  with this
         Agreement  will not infringe the  intellectual  property  rights of any
         third parties but Burberry gives no warranty that any registrations are
         valid or  enforceable  or that any of the  applications  will result in
         registration.  Notwithstanding  anything to the  contrary  contained in
         this Agreement,  nothing  contained  herein shall prohibit the Licensee
         from  prosecuting  any claim for damages,  including but not limited to
         any and all  trade  mark  agents',  solicitors',  attorneys'  and other
         professional  fees, against Burberry or the Burberry Group in the event
         the Burberry  Intellectual  Property (except in respect of Varied

                                       53
<PAGE>

         Trade  Names  and  New  Trade  Names)  used  by  the  Licensee  or  any
         Distributor  in  accordance  with  this  Agreement  infringes  upon the
         intellectual property rights of any third parties.

17.11    The Licensee shall at Burberry's request and expense execute,  register
         or assist in the  registration  of all  registered  user and such other
         agreements or documents  necessary to protect  Burberry's  interests in
         and to enable  the  Licensee  to use any or all of the  Licensed  Trade
         Marks in respect of the Licensed  Products in any part of the Territory
         in accordance with the terms of this Agreement.

17.12    The Licensee shall not be entitled without Approval to (i) alter or use
         any variation or  modification of or any addition to any trade marks or
         trade  names  forming  part  of  the  Burberry   Intellectual  Property
         including  without  limitation  the  Licensed  Trade Marks  (including,
         without limitation, by the Licensee adding a reference to its own trade
         mark or name to a Licensed  Trade  Mark)  (such  varied or  modified or
         added to trade marks which are Approved being the "Varied Trade Names")
         or (ii) use any new trade  mark or trade  name in  connection  with the
         Licensed Products (such new trade mark or trade name which are Approved
         being the "New Trade Names").

17.13    Where:

         (A)      the  Licensee  has created  and intends to use a Varied  Trade
                  Name or a New Trade Name in connection with the manufacture of
                  the  Licensed   Products  and/or  the  sale  of  the  Licensed
                  Products; and

         (B)      such use has been Approved,

         Burberry  shall at the  Licensee's  cost and expense use all reasonable
         endeavours  to obtain  registration  in  Burberry's  name of the Varied
         Trade Name and/or New Trade Name in the classes reasonably specified by
         the Licensee in the Territory where such  registration is in Burberry's
         sole opinion necessary in the Territory. Without limiting the above the
         Licensee  shall be  responsible  and shall  indemnify  Burberry in full
         against all costs and expenses in connection with the Varied Trade Name
         and/or the New Trade Name including, but not limited to, the following:
         (i)  search  fees  undertaken  to check  the  availability  for use and
         registration  of the Varied  Trade Name  and/or  New Trade  Name;  (ii)
         application  fees; (iii) costs of overcoming any opposition  during the
         course of registration; (iv) any premium required to be paid to a third
         party to obtain  exclusive or  concurrent  use of the Varied Trade Name
         and/or  New  Trade  Name;  (v)  registration  fees;  (vi)  the  cost of
         renewals; and (vii) any trade mark agents', solicitors', attorneys' and
         other  professional  fees. If and when the Varied Trade Name and/or New
         Trade  Name is  registered,  Burberry  and the  Licensee  shall file an
         application to record the Licensee as a registered  user or licensee of
         the Varied  Trade Name  and/or New Trade Name (in  accordance  with the
         Licence  Rights)  where  so  provided  by  the  applicable  trade  mark
         legislation and all costs (including,  without limitation, legal costs)
         in connection with any such application shall be borne by the Licensee.
         If an agreement is entered into with any third party  (whether or not a
         premium  is paid) to obtain use of the  Varied  Trade  Name  and/or New
         Trade Name such  agreement  will be in favour of and for the benefit of
         Burberry.  All  goodwill  howsoever  arising in respect of Varied Trade
         Names and/or New Trade Names shall accrue to Burberry.

17.14    The Licensee  shall not use and shall not permit any third party to use
         in any form on or in  relation  to any  products  a Varied  Trade  Name
         and/or  New Trade  Name  other  than in  connection  with the  Licensed
         Products  and  "any  form"  shall  include   without   limitation   any

                                       54
<PAGE>

         translation from one language to another or any  representation of text
         in a graphic form and vice versa.

17.15    For the  avoidance  of doubt all  rights in the  Burberry  Intellectual
         Property  are  reserved by Burberry  for its own use and benefit or for
         the use of such third  parties as Burberry may from time to time in its
         absolute  discretion  decide without violating any of the provisions of
         this Agreement.

17.16    If the  Licensee  becomes  aware  of any  third  party  claim  that the
         Licensee's,  any Approved  Contractor's or any Distributor's use of any
         of  the  Burberry  Intellectual  Property  infringes  the  Intellectual
         Property  Rights or any other  rights of such third party the  Licensee
         will:

         (A)      promptly  notify  Burberry  in  writing of such claim and will
                  provide all relevant available details;

         (B)      not make any  admission or  settlement  in respect of any such
                  claim without Approval;

         (C)      if required  by Burberry in writing,  cease any use of such of
                  the Burberry  Intellectual  Property as is the subject of such
                  claim  for such  periods  as  Burberry  may from  time to time
                  direct; and

         (D)      at the expense of Burberry, give Burberry all such information
                  and  assistance as Burberry may require to enable  Burberry to
                  defend such  proceedings  or take other  action in relation to
                  such claim or claims as Burberry may decide.

17.17    Burberry shall have conduct of all proceedings brought by third parties
         relating to the Burberry Intellectual Property and it shall in its sole
         discretion  decide what action, if any, to take in respect of any claim
         brought or  threatened  in respect  of the use or  registration  of any
         Burberry Intellectual Property,  subject, however, to the provisions of
         clause 17.10.

17.18    The  Licensee  shall use all its best  endeavours  to procure  that all
         third  parties  who  may  from  time to time  carry  out any  creative,
         literary or artistic  work in  connection  with the creation of any and
         all  Promotional  Materials  or  Advertising  created  and/or  used  in
         relation to the Licensed Products shall assign any and all Intellectual
         Property Rights subsisting in such work to the Licensee  including (but
         not limited to)  copyright  and design right or similar  rights and the
         Licensee shall forthwith  assign (and where possible  assigns hereby by
         way of a present  assignment of future rights) the same with full title
         guarantee to Burberry, in the form set out at appendix B.

17.19    Notwithstanding  any  provisions  to the contrary in this clause 17, to
         the extent that the  activities  of the Licensee  under this  Agreement
         result in the creation of any  inventions,  improvements or discoveries
         ("Improvements") relating to the development, production or manufacture
         of the Licensed Products,  and such Improvements can be used other than
         in  relation to the  Licensed  Products  (and  without  infringing  any
         Intellectual   Property  Rights  in  the  Licensed   Products),   those
         Improvements will be owned by the Licensee.  Burberry shall be entitled
         to a non-exclusive  worldwide royalty-free  irrevocable licence without
         limit of time  (and with a right to assign  such  licence  and to grant
         sub-licences thereunder) to use any such Improvements.

                                       55
<PAGE>

18.      CHANGE IN CONTROL/MANAGEMENT AND COMPETITORS

18.1     In the  event of a Change of  Control  of either  the  Licensee  or the
         Guarantor,  Burberry  shall be entitled  to  terminate  this  Agreement
         forthwith  by notice in  writing  (a  "Termination  Notice")  served in
         accordance with clause 20.

18.2     The  Guarantor  and the  Licensee  jointly and  severally  undertake to
         provide to Burberry with written  notification  within ten (10) days of
         becoming  aware of any event which is more likely than not to lead to a
         Change of Control of either the Guarantor or the Licensee.

18.3     The Licensee shall give Burberry written notice within ten (10) days of
         becoming aware of any change in the Management  Control of any Approved
         Contractor and/or any Distributor.

18.4     In the event of any proposal for a Competitor to:

         (A)      enter into any  agreement  with the Licensee or Guarantor  (or
                  any  Affiliate  thereof)  to  manufacture,   sell,  market  or
                  distribute  (or enter into any agreement for the  manufacture,
                  sale,  marketing or  distribution  of) any Product  bearing or
                  sold in connection  with any  Competing  Brand or to which any
                  Competing Brand is or is to be applied; or

         (B)      acquire  any  position  in  respect of the  management  of the
                  Licensee   (or   any   Affiliate   thereof)   whether   by   a
                  representative  of a Competitor  being appointed as a director
                  or  other  officer  of  the  Licensee  or  Guarantor  (or  any
                  Affiliate thereof) or otherwise,

         prior to any such proposal being  implemented and in any event at least
         thirty (30) days before any such proposal is implemented,  the Licensee
         or Guarantor as appropriate  shall notify Burberry in writing of such a
         proposal  giving  Burberry  details of the name of the Competing  Brand
         and/or  Competitor  and,  in the case of (A) above,  the  duration  and
         geographic  scope of the  agreement  in question and in the case of (B)
         above,  the title of the position  acquired by the  Competitor  and any
         other  information  as  Burberry  may  require  in  relation  to such a
         proposal.

18.5     The  implementation  of any proposal  described  in clauses  18.4(A) or
         18.4(B)  shall be subject to Approval  and if Approval is not given and
         such a proposal is implemented  this shall be a material  breach of the
         Agreement by the Licensee or  Guarantor  respectively,  except that the
         appointment of Patrick Choel, as a member of the board of the Licensee,
         shall be deemed to be Approved  for the first  Licensed  Year as of the
         Effective  Date and  thereafter  such  appointment  shall  be  Approved
         annually for each  Licensed  Year of this  Agreement on or prior to the
         commencement  of such  Licensed  Year.  Such  Approval  for  the  first
         Licensed  Year is solely on the basis that he is a  consultant  of LVMH
         (as such term is defined in schedule 3) and such appointment  shall not
         constitute  a  breach  of  clause  3.1 of the LVMH  Agreement,  for the
         purposes of which he shall,  for the duration of such Approval only, be
         deemed to be an LVMH Representative.

19.      APPROVED CONTRACTORS

19.1     Subject to obtaining Approval and the provisions of this clause 19, the
         Licensee  may  use  the  services  of  Approved   Contractors   in  the
         manufacture of Burberry Items,

                                       56
<PAGE>

         PROVIDED ALWAYS THAT

         (A)      approval of any Approved  Contractors shall in no way diminish
                  the Licensee's  obligations to Burberry under this  Agreement;
                  and

         (B)      Approved  Contractors do not  sub-contract  the manufacture of
                  any  Burberry  Items except to Approved  Contractors  who have
                  been Approved to manufacture those specific Burberry Items and
                  notice of such sub-contracting is provided to Burberry.

19.2     In the event that the Licensee  wishes to use any party as a contractor
         as described in clause  19.1,  the Licensee  shall prior to placing any
         order with such party:

         (A)      supply  Burberry  with the name and  address  of the  proposed
                  contractor  and such  information  as Burberry may  reasonably
                  require as to the financial stability,  ownership,  management
                  and general stability of the proposed contractor;

         (B)      supply  Burberry with the address of such premises at which it
                  is   proposed   that   the   proposed   contractor   shall  be
                  manufacturing  Burberry Items,  and the type of Burberry Items
                  which it is proposed shall be  manufactured  at such premises,
                  and  such  further  information  as  Burberry  may  reasonably
                  require in relation to such premises and such Burberry items;

         (C)      if requested by Burberry,  provide  evidence  satisfactory  to
                  Burberry that the use of such  contractor by the Licensee will
                  not affect the Licensee's  ability to comply with the Laws and
                  codes of practice referred to in clauses 9.28 to 9.30;

         (D)      seek  in  writing  and  obtain   Approval   for  the  proposed
                  contractor as an Approved Contractor; and

         (E)      obtain and  deliver to  Burberry  a signed  Undertaking  and a
                  signed  Questionnaire from the proposed contractor to Burberry
                  in the then current form used by Burberry,  and Burberry shall
                  within 15 Working Days of  receiving  the  Licensee's  written
                  request seeking  Approval for a proposed  Approved  Contractor
                  together with all information in relation thereto requested by
                  Burberry either give Approval or refuse Approval in writing.

19.3     The Licensee shall promptly  notify  Burberry in writing when it ceases
         to use the services of any Approved Contractor and the reasons for such
         cessation.

19.4     The Licensee shall:

         (A)      exercise  proper  supervision  over  the  operations  of  each
                  Approved  Contractor  including  (but not  limited to) quality
                  control and strict control of all labels and similar materials
                  so that at all times all Burberry Items  manufactured  by that
                  Approved  Contractor  are of the quality  required  under this
                  Agreement;

         (B)      procure that no Approved  Contractor  at any time supplies any
                  Burberry Items to any party other than the Licensee,  Burberry
                  or a member of the Burberry Group except as Approved;

                                       57
<PAGE>

         (C)      use its best  endeavours  to  supply  to  Burberry  as soon as
                  possible  any such  information  in relation  to any  Approved
                  Contractor as may from time to time be reasonably requested by
                  Burberry;

         (D)      promptly  if  so  requested  by  Burberry  and  provided  that
                  Burberry  can  demonstrate  a  bona  fide  reason  for  such a
                  request,  procure  that  any  Approved  Contractor  sign  such
                  amended form of  Undertaking  or complete such amended form of
                  Questionnaire  as Burberry  shall  specify and if the relevant
                  Approved  Contractor does not do so Burberry will be deemed to
                  have withdrawn Approval under 19.6;

         (E)      use  its  best   endeavours  to  procure  that  each  Approved
                  Contractor at all times observes and complies with either:

                  (i)      the terms of such form of  Undertaking  in Burberry's
                           favour   as  has  been   signed   by  that   Approved
                           Contractor; or

                  (ii)     at any time as any Approved Contractor has not signed
                           an Undertaking in Burberry's favour, the terms of the
                           form of  undertaking  which  appears at appendix C or
                           such  replacement  therefor  as  Burberry  shall have
                           notified the Licensee; and

         (F)      assist Burberry or its authorised representatives so that they
                  can enter and inspect all  premises  where  Licensed  Products
                  have been, are being or are intended to be manufactured and/or
                  stored  whether  owned  or  controlled  by the  Licensee,  any
                  Approved Contractor or otherwise.

19.5     For the avoidance of doubt the Licensee shall not have manufactured any
         Burberry Items or permit to be  manufactured  any Burberry Items by any
         third  party  (including,  without  limitation,  any  Affiliate  of the
         Licensee) other than an Approved Contractor and then only in accordance
         with the terms of the relevant  Approval and in respect of the Burberry
         Items for which the relevant Approved Contractor has been Approved.

19.6     Without  prejudice  or  limitation  to any other right or remedy  which
         Burberry may have:

         (A)      in the event of any breach of either of clauses  18.4 or 18.5;
                  or

         (B)      if Burberry  determines  that the Approved  Contractor  is not
                  meeting  Burberry's   standards  with  regard  to  quality  or
                  delivery; or

         (C)      if the Approved Contractor has in any way infringed Burberry's
                  Intellectual Property Rights,

         Burberry  shall be  entitled  by notice  to the  Licensee  to  withdraw
         forthwith its Approval of all or any Approved  Contractor(s)  whereupon
         the Licensee shall:

                  (i)      place no further orders with that contractor;

                  (ii)     use  its  best   endeavours   to  procure  that  such
                           contractor   ceases   forthwith  the  manufacture  of
                           Burberry Items;

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                  (iii)    use  its  best   endeavours   to  recover  all  items
                           incorporating any Burberry Intellectual Property from
                           that contractor; and

                  (iv)     certify  to  Burberry   in  writing   signed  by  its
                           Chairman, President, Chief Executive Officer or Chief
                           Financial    Officer   that   the   requirements   of
                           sub-clauses (A), (B) and (C) above have been complied
                           with in full.

19.7     For the  purposes of clauses  19.4(A),  19.4(B),  19.4(C) and  19.4(E),
         Approved  Contractor  shall include any  contractors of the Licensee or
         sub-contractors  of any Approved  Contractor which would have qualified
         as an Approved Contractor if Burberry had Approved them.

20.      TERMINATION

20.1     In this clause 20.1, a "material  breach" may either be a single event,
         or a series of events  which are  together  a material  breach.  In the
         event that any of the following events occurs:

         (A)      the Licensee  fails to pay any sum due to Burberry  under this
                  Agreement on the due date for such payment and fails to remedy
                  such breach  within 5 days of a notice from Burberry to do so;
                  or

         (B)      the  Licensee  commits any material  breach of this  Agreement
                  which is not capable of remedy; or

         (C)      the  Licensee  commits any material  breach of this  Agreement
                  (other than non-payment)  which is capable of remedy and fails
                  to remedy such breach within 30 days of a notice from Burberry
                  to do so; or

         (D)      the Licensee  commits a breach of this  Agreement  (other than
                  non-payment)  which is capable of remedy (for the avoidance of
                  doubt,  failure to perform an obligation  which is not capable
                  of being  performed  shall not  constitute  a breach  which is
                  capable  of remedy)  and fails to remedy  such  breach  within
                  thirty (30) days of a notice from Burberry to do so; or

         (E)      the Licensee or Guarantor:

                  (i)      is unable to pay its debts or appears to be unable to
                           pay or to have no  reasonable  prospect of being able
                           to pay his debts, or is insolvent  within the meaning
                           of any applicable law; or

                  (ii)     is required to repay any  borrowed  money  (where the
                           borrowed   money  is  in   excess   of  one   million
                           (1,000,000)  euros)  prematurely  by  reason  of  any
                           default where the default is not  irrevocably  waived
                           by  the  relevant   lender  in  accordance  with  the
                           relevant facility document; or

                  (iii)    is adjudged by any court insolvent or bankrupt; or

                  (iv)     has a petition presented for its winding up or issues
                           a notice  convening  a  meeting  of  shareholders  to
                           consider a resolution  for winding up (except for any
                           solvent  corporate  re-organisation  which  does  not
                           result in a Change  of  Control  and  which  does not
                           adversely  affect  the  financial   standing  of  the
                           Licensee or

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                           Guarantor;  for example but not by way of limitation,
                           re-incorporation  in another state or jurisdiction to
                           take  advantage of favourable tax treatment) or has a
                           petition  presented  for  its  administration  or  an
                           application for an  administration  order is made, or
                           has a similar  procedure  commenced  by or against it
                           under any applicable law; or

                  (v)      enters  into a  compromise  or  arrangement  with its
                           creditors  or has  commenced  any  similar  procedure
                           under any applicable law; or

                  (vi)     suffers  an  encumbrancer  taking  possession  of  or
                           suffers   the    appointment   of   a   receiver   or
                           administrative   receiver  or  administrator  or  any
                           similar  person under any  applicable  law or suffers
                           any sequestration  order being made in respect of the
                           whole or substantial part of its assets, or

         (F)      any of the events  described in clause 18.1 in relation to the
                  Licensee or a member of the Licensee's Group or in relation to
                  the Guarantor or any of the events described in clause 18.4(A)
                  or  18.4(B) in  relation  to the  Licensee  or a member of the
                  Licensee's Group; or

         (G)      the Licensee or any member of the Licensee's Group directly or
                  indirectly  opposes (or assists any third party to oppose) the
                  registration  or  renewal  of any trade  mark,  design  and/or
                  patent or any trade mark, design and/or patent  application or
                  renewal within the Burberry Intellectual Property; or

         (H)      the Licensee or any member of the Licensee's Group disputes or
                  directly or indirectly  assists any third party to dispute the
                  validity of any trade mark,  design  and/or  patent within the
                  Burberry Intellectual Property; or

         (I)      the  Licensee  or any  member  of  the  Licensee's  Group  has
                  committed  a  material  breach  (and such  breach has not been
                  remedied  or is not  capable of being  remedied)  of any other
                  agreement with Burberry or any other member of Burberry Group;
                  or

         (J)      any promissory  note issued by the Licensee or a member of the
                  Licensee's Group in excess of one hundred  thousand  (100,000)
                  euros fails to be honoured by the relevant  bank except in the
                  event of a mistake which is subsequently cured;

         then Burberry may, in respect of any part of or all of the Exclusivity,
         the  Licence  Rights and this  Agreement  (each a "Right")  and without
         prejudice to any other  rights and  remedies it may have,  by notice to
         the Licensee:

         (i)      forthwith  terminate a Right or Rights in its sole discretion;
                  or

         (ii)     give  notice to the  Licensee  that  Burberry  is  considering
                  terminating  a  Right  or  Rights  (the  "Interim  Termination
                  Notice") and at any time during the nine months following such
                  notice, give the Licensee not less than three months notice of
                  the day when the Right or Rights shall terminate.

20.2     The Licensee or, as the case may be, the Guarantor:

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         (A)      shall promptly give Burberry  written notice of the occurrence
                  of any of the events specified in clause 20.1(E); and

         (B)      acknowledges and hereby agrees that (without  prejudice to any
                  rights and remedies  Burberry may have) upon the occurrence of
                  any of the events  specified in clause 20.1(E) the Exclusivity
                  shall  automatically  terminate  and clause 2.5 shall be of no
                  further force or effect.

20.3     For the purposes of clause 20.1(C):

         (A)      any  breach  by  the   Licensee  of  any  of  clause  2.7  (no
                  sub-licensing),   clause  5.5  (sale  or  supply  of  Licenced
                  Products), clause 8 (business plan), clause 9.1 (manufacture),
                  clause 9.2 (unauthorised  manufacture),  clauses 9.14 and 9.19
                  (improper use of Burberry Intellectual Property),  clause 9.33
                  (insurance),  clauses 9.34 and 9.17 (improper conduct), clause
                  10.7  (underpayment  of Licence Fees),  clause 15 (Advertising
                  and Marketing), clause 16 (Warranties),  clause 19.2 (Approved
                  Contractors) or clause 34 (no assignment); or

         (B)      any underpayment of Licence Fees by 5% (five per cent) or more
                  for  any  Month  or  other   relevant   period  which  is  not
                  subsequently  reconciled  in  accordance  with clause 10.4 and
                  10.5,

         shall be deemed a material breach without prejudice to any other breach
         being a material breach for the purposes of such clause.

20.4     For the purposes of clauses 20.1(B),  20.1(C) and 20.1(D)  reference to
         material breach and breach of this Agreement by the Licensee shall also
         include  material  breach  or  breach  of  the  LVMH  Agreement  by the
         Licensee.

20.5     Burberry may terminate this  Agreement in accordance  with the terms of
         clauses 10.8, 10.9 and 13.1(D).

20.6     Burberry  may  terminate  this  Agreement  at its option,  either on 31
         December 2009 (the "First Exit Right") or 31 December 2011 (the "Second
         Exit Right").

         By 1  January  2009,  in the case of the  First  Exit  Right,  and by 1
         January  2011,  in respect of the Second  Exit  Right,  Burberry  shall
         notify the Licensee of its intention to exercise its rights pursuant to
         this clause 20.6.

         Burberry and the Licensee  shall appoint an expert in  accordance  with
         the  procedure  described in this clause 20.6 to  determine  the market
         value of the Licence  Rights for the period of the Agreement that would
         remain if the Agreement is not terminated  pursuant to this clause 20.6
         (the "Exit  Payment").

         Burberry and the Licensee shall within fourteen (14) days of Burberry's
         notice being given  pursuant to this clause 20.6  without  reference or
         knowledge  of the  other  party's  selection,  prepare  a list of three
         investment  banks that they would wish to  determine  the amount of the
         Exit  Payment.  Burberry  and the  Licensee  will  then  through  their
         respective  external legal advisers  simultaneously  exchange lists. If
         such  choices  yield one  investment  bank that has been chosen by both
         Burberry and the Licensee then that  investment  bank will be appointed

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<PAGE>

         as the expert to determine  the Exit Payment  (the  "Expert").  If such
         choices do not yield a choice common to both Burberry and the Licensee,
         then  Burberry  and the  Licensee  shall  continue  to  select  further
         investment  banks and submit lists of their  choices to their  external
         legal  advisers  until a common choice is found.  Both Burberry and the
         Licensee  may make a  submission  to the  investment  bank  chosen (the
         Expert) in respect of the market value of the Licence Rights.

         The Expert will prepare a report which  determines  the Exit Payment by
         reference to the market value of the Licence  Rights for the  unexpired
         term of this Agreement within 45 days of its  appointment,  such report
         to be provided by the Expert to Burberry  and the  Licensee by no later
         than 30 June  2009,  in the case of the First  Exit  Right,  or 30 June
         2011, in the case of the Second Exit Right. The Expert will in reaching
         its  determination  of the Exit  Payment be  entitled  to call for such
         evidence as it  requires  from the  Licensee  and  Burberry  including,
         without limitation, all books of account and business records which the
         Licensee has kept in respect of any  products  which  incorporated  any
         Burberry  Intellectual Property which were manufactured by or on behalf
         of the Licensee under this Agreement.

         Further to receipt of the  Expert's  report and if Burberry  decides to
         exercise its right to terminate under this clause 20.6,  Burberry shall
         notify the  Licensee of its  intention to exercise its right by 31 July
         2009 (in the case of the  First  Exit  Right)  and 31 July 2011 (in the
         case of the Second Exit Right) and it shall pay the Exit Payment to the
         Licensee on 31 December  2009 (in the case of the First Exist Right) OR
         31 December  2011 (in the case of the Second Exit Right).  The Expert's
         determination of the Exit Payment shall be final and binding,  provided
         that if Burberry  exercises its option to terminate on 31 December 2011
         in accordance  with this  Agreement,  Burberry shall pay, in respect of
         the Exit  Payment,  either the market  value of the  Licence  Rights as
         determined  by the Expert or 70% of the Actual Net  Wholesale  Sales in
         2010, whichever is greater.

         For the  avoidance of doubt no sum shall be paid under this clause 20.6
         if  termination  results  in whole  or in part  from  the  exercise  by
         Burberry of its rights under any other provisions of this clause 20 and
         any valuation of any unexpired  term of this Agreement made pursuant to
         this clause will be relevant only for the purposes of this clause.

21.      CONSEQUENCES OF TERMINATION

21.1     With effect from the termination of this Agreement (howsoever caused):

         (A)      the Licensee  shall at its own cost,  and not more than thirty
                  (30) days  after the date of  termination  (or,  to the extent
                  Approved,  at the  end  of any  Sell-Off  Period)  deliver  to
                  Burberry:

                  (i)      all notepaper,  visiting  cards,  display  materials,
                           patterns,   catalogues,   advertising  and  marketing
                           materials   (including   such  materials  as  are  in
                           preparation)   and  any  other   matter   bearing  or
                           including   any   Burberry    Intellectual   Property
                           including,   without  limitation,  all  formulations,
                           drawings,    sketches,   plans,   designs,   artwork,
                           illustrations  and models used or intended to be used
                           for the purposes of producing  the Licensed  Products
                           and bearing or  incorporating  Burberry  Intellectual
                           Property;

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<PAGE>

                  (ii)     all its rights in tooling and moulds used or intended
                           to be used for the purposes of producing the Licensed
                           Products  and  bearing  or   incorporating   Burberry
                           Intellectual Property; and

                  (iii)    any property  which belongs to Burberry,  which is or
                           are  in  the  Licensee's   possession  or  under  its
                           control,  and if so requested  by Burberry  provide a
                           certificate signed by the Chairman,  President or the
                           Chief  Executive  Officer of the Licensee  certifying
                           that all such materials have been delivered;

         (B)      the Licensee shall promptly and not more than thirty (30) days
                  after the date of  termination  notify  Burberry by means of a
                  written  report  signed by a duly  authorised  officer  of the
                  Licensee of the amounts of the Licensee's,  its  Distributors'
                  and its Approved  Contractors' then current stocks of Licensed
                  Products and other Burberry Items and in each case the current
                  locations  thereof.  The  Licensee  shall  also  provide  such
                  information within thirty (30) days of the date of termination
                  or expiry of any Sell-Off Period;

         (C)      the  Licensee  shall  promptly,  and not more than thirty (30)
                  days after the date of  termination  supply to  Burberry  full
                  details of all unfulfilled  orders for Licensed  Products from
                  Retailers and/or  Distributors  accepted by the Licensee prior
                  to the date of  termination,  including the date of the order,
                  date of  acceptance,  the identity and contact  details of the
                  relevant Retailers and Distributors,  the types and quantities
                  of  Licensed  Products  ordered,  and any  specified  delivery
                  date(s) and/or other applicable terms;

         (D)      if  Burberry  so  requires  at any time  within six (6) months
                  after the  termination  of the  Agreement,  the Licensee shall
                  promptly deliver to Burberry a list of the names and addresses
                  of:

                  (i)      the relevant  Retailers and  Distributors to whom the
                           Licensee  has within the previous six (6) Months sold
                           quantities of Licensed Products exceeding such minima
                           as Burberry may  reasonably  specify,  together  with
                           details of the quantities supplied to them; and

                  (ii)     the  Approved  Contractors  by which the Licensee has
                           been supplied  with  Licensed  Products or components
                           thereof  during  the  previous   twelve  (12)  Months
                           showing  for  each  Approved  Contractor  a  list  of
                           Licensed Products and quantities supplied;

         (E)      The Licensee shall procure that Burberry and/or its employees,
                  agents   and/or   professional   advisors  are   permitted  on
                  reasonable  notice to enter any  premises of the  Licensee and
                  are permitted at any time without notice to enter any premises
                  of  any  Approved  Contractor  and/or  any  Affiliate  of  the
                  Licensee involved in the manufacture, sale or marketing of the
                  Licensed Products to establish the following:

                  (i)      the number of Licensed  Products  and other  Burberry
                           Items held in stock  including,  without  limitation,
                           all  drawings,  sketches,  plans,  designs,  artwork,
                           illustrations,  models,  tooling  and moulds  used or
                           intended to be used for the  purposes of the Licensed
                           Products    incorporating    Burberry    Intellectual
                           Property;

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<PAGE>

                  (ii)     the  total  number  of  units  of  Licensed  Products
                           manufactured  by or on behalf of the  Licensee in the
                           seven (7) years  preceding  the date of  termination;
                           and

                  (iii)    the place of  manufacture  of the  Licensed  Products
                           manufactured  by or on  behalf  of the  Licensee  and
                           details of any  Approved  Contractor  involved in the
                           manufacture thereof.

         (F)      Burberry  shall have the right (to be  exercised  by notice in
                  writing to the Licensee at any time after  termination of this
                  Agreement) to do all or any of the following:

                  (i)      to purchase such proportion of the Licensee's and any
                           Affiliate   (including  any  Affiliate   which  is  a
                           Distributor)  of the  Licensee's  stock  of  finished
                           Licensed  Products  (excluding  GWPs and  Testers) as
                           Burberry  may see fit at the  Licensee's  List  Price
                           less  a  discount   of  50%  (fifty  per  cent)  plus
                           applicable  duties and taxes (but without any Licence
                           Fees being due in respect of such  purchased  stock);
                           and/or

                  (ii)     to purchase such proportion of the Licensee's and any
                           Affiliate of the  Licensee's  stock of Burberry Items
                           (including  GWPs and Testers) as Burberry may see fit
                           at the Licensee's cost price of such items; and/or

                  (iii)    to require the Licensee  (acting as a  sub-contractor
                           to Burberry) to make up into Licensed Products any or
                           all of the Licensee's or Approved  Contractors' stock
                           of Burberry Items,  which Licensed  Products Burberry
                           shall   purchase  from  the  Licensee  on  the  basis
                           described in clause 21.1(F)(i), except that the price
                           shall  exclude  any  amounts  payable by  Burberry in
                           respect  of  such   components,   packaging  and  raw
                           materials under clause 21.1(F)(ii);

         (G)      the  Licensee  shall (and  shall  procure  that all  companies
                  within  the  Licensee's  Group  shall  and  shall use its best
                  endeavours  to procure  that all Approved  Contractors  shall)
                  promptly  upon  Burberry's  request  given  after  the date of
                  termination (or, where there is a Sell-Off  Period,  after the
                  termination of such Sell-Off Period):

                  (i)      remove all  Burberry  Intellectual  Property  and all
                           items  embodying   Burberry   Intellectual   Property
                           (including  but not limited to all labels,  packaging
                           and  markings  featuring  any of the  Licensed  Trade
                           Marks or to which  any of the  Licensed  Trade  Marks
                           have been  applied)  from all its stocks of  Licensed
                           Products and Burberry Items; and/or

                  (ii)     if and to the  extent  that  it is not  practical  or
                           commercially    worthwhile    to   remove    Burberry
                           Intellectual  Property from such stocks,  either sell
                           such  stocks at a price no  greater  than cost to any
                           licensee  of Burberry  who has rights to  manufacture
                           and sell  Products or destroy  such stocks  under the
                           supervision of such person as Burberry may direct or,
                           if Burberry so directs,  deliver the same to Burberry
                           or such party as Burberry  directs  for  destruction;
                           and/or

                  (iii)    without prejudice,  obtain and deliver up to Burberry
                           all material  prepared or purchased  for the Licensee
                           and  paid  for  by  the  Licensee  for  use  in or in
                           connection with the advertising  and/or  marketing of
                           the Licensed Products,

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<PAGE>

                  and (in  either  case) if  requested  by  Burberry  provide an
                  affidavit  sworn by the Chairman,  President,  Chief Executive
                  Officer or Chief  Financial  Officer of the Licensee  that the
                  Licensee has complied in all material aspects with this clause
                  21.1(G);

         (H)      the  parties  shall   promptly  take  whatever  steps  may  be
                  necessary to cancel any  registration of this Agreement or any
                  registration of the Licensee as an authorised user or licensee
                  of  any  Burberry  Intellectual  Property  in  any  particular
                  jurisdiction; and

         (I)      the Licensee shall on the date of termination (or, where there
                  is a Sell-Off  Period,  with effect from  termination  of such
                  Sell-Off  Period)  terminate  all  its  arrangements  (whether
                  contractual or otherwise) with the  Distributors to the extent
                  they related to the Licensed Products.

21.2     Without  prejudice  to  clause  21.1(F),   the  Licensee  shall  ensure
         (including,   without  limitation,   by  means  of  the  imposition  of
         contractual terms on Distributors) that Burberry and the Licensee shall
         have the right to purchase (i) such proportion of  Distributor's  stock
         of finished  Licensed Products as Burberry and the Licensee may see fit
         at the price which the  Distributor  paid to the Licensee in respect of
         such Licensed  Products and (ii) such  proportion of the  Distributor's
         stock of Burberry Items as Burberry and the Licensee may see fit at the
         price which the Distributor paid for such Burberry Items.

21.3     The  termination  of this  Agreement  (for  whatever  reason)  shall be
         without  prejudice to the rights of either party accrued up to the date
         of termination.

21.4     Subject to clause  20.3,  with effect from the date of  termination  of
         this  Agreement all rights granted to the Licensee under this Agreement
         shall cease forthwith,  and the terms of this Agreement shall forthwith
         cease to be of effect, except that:

         (A)      clause  22.4  shall  apply for the  duration  of any  Sell-Off
                  Period; and

         (B)      clauses 1, 9.13,  9.14,  9.15,  9.16,  9.17, 9.18, 9.19, 9.20,
                  9.21,  9.34,  17,  20,  21,  22,  23,  25,  26,  35 and 36 and
                  schedules 1 and 2 shall  remain in effect  together  with such
                  provisions  which expressly or by necessary  implication  will
                  survive termination.

21.5     For the purposes of this clause 21, (i) Licensed Products shall include
         any  products  which  would have  qualified  as  Licensed  Products  if
         Burberry had Approved them or if they had complied with the  provisions
         of this  Agreement  and (ii)  Approved  Contractors  shall  include any
         contractors  of  the  Licensee  or   sub-contractors  of  any  Approved
         Contractor  which would have  qualified  as an Approved  Contractor  if
         Burberry had Approved them.

22.      SELL-OFF PERIOD

22.1     In the event that this Agreement terminates in circumstances other than
         those set out in Clause 20.1, the Licensee shall, subject to Burberry's
         rights under clause  21.1(F)  enjoy a period  during which the Licensee
         may,  subject to and in accordance  with the  provisions of this clause
         22.1,  sell-off the  Licensee's  stocks of finished  Licensed  Products
         existing  as at the  date  of  such  termination  ("Sell-Off  Period").
         Subject to the provisions of clauses 22.5 and 22.6, the duration of the
         Sell-Off  Period shall be six (6) months from the date of  termination,
         at the end of which period it shall automatically be terminated.

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22.2     During the Sell-Off  Period,  the Licensee shall be permitted to accept
         and fulfil orders for Licensed Products in order only to dispose of the
         stock  of  Licensed  Products  held by it at the  date of  termination,
         PROVIDED THAT the Licensee shall:

         (A)      not  accept any such order from a person who is not a Retailer
                  or Distributor without specific Approval for that order;

         (B)      not accept any such order  during the  Sell-Off  Period  where
                  delivery thereunder is scheduled to occur after the end of the
                  Sell-Off Period;

         (C)      not  deliver  any  Licensed  Products  after  the  end  of the
                  Sell-Off Period;

         (D)      not   during  the   Sell-Off   Period   manufacture   or  have
                  manufactured on the Licensee's behalf any Licensed Products or
                  other Burberry Items; and

         (E)      not during the Sell-Off Period in any way Advertise or Promote
                  the Licensed Products or any association  between the Licensee
                  and Burberry.

22.3     Without  prejudice to the Licensee's  obligations under clause 21.1(B),
         the  Licensee  shall  forthwith  upon  Burberry's  request  or,  if  so
         requested by Burberry, at such intervals as Burberry may specify supply
         to  Burberry  an up to date  report  in the  form  required  by  clause
         21.1(B).  For the  avoidance  of  doubt,  clause  21.1  shall  apply in
         accordance  with and  subject  to its  terms at all  times  during  the
         Sell-Off Period.

22.4     Notwithstanding   the  termination  of  this   Agreement,   subject  to
         provisions of this clause 22, all of the terms of this Agreement (where
         still relevant)  (including without limitation clauses 10 and 11) shall
         remain in force during the Sell-Off  Period EXCEPT THAT the Exclusivity
         shall cease to apply with effect from the date of termination.

22.5     If and as soon as the Licensee shall have divested itself of its entire
         stock of Licensed  Products  which are  subject to Sell-Off  Period the
         Sell-Off Period shall automatically be terminated.

22.6     Burberry  may  terminate  the  Sell-Off  Period  forthwith by notice in
         writing to the Licensee in the  Sell-Off  Period if there occurs any of
         the events  described in clause 20.1, if the Licensee  fails to provide
         to  Burberry  full  details  of all  unfulfilled  orders  for  Licensed
         Products from Retailers  and/or  Distributors  accepted by the Licensee
         prior to the date of termination  in accordance  with clause 21.1(C) or
         if  the  Licensee  fails  to  notify  Burberry  of  the  amount  of the
         Licensee's,  its  Distributors' and its Approved  Contractors'  current
         stocks  of  Licensed  Products  and  other  Burberry  Items  and  their
         locations in accordance with clause 21.1(B) or if the Licensee fails to
         comply with any request made by Burberry under clause 21.1(E).

22.7     Burberry  may  subject  to  Approval   permit  a  Sell-Off   Period  in
         circumstances  other  than  those set out in this  clause 22  including
         without limitation where Burberry  terminates this Agreement in part so
         that the  Licence  Rights  are  terminated  in  respect  of one or more
         Products.

23.      GUARANTEE

23.1     In  consideration  of  Burberry  entering  into  this  Agreement,   the
         Guarantor shall as primary obligations of it:

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         (A)      if and  whenever  the  Licensee  shall  be in  default  in any
                  payment  obligations when due of any amount payable under this
                  Agreement or the  performance  of any  obligations  under this
                  Agreement and within two Working Days after being given notice
                  to that effect by  Burberry,  pay all amounts  then payable by
                  the  Licensee or perform the  obligations  of the  Licensee as
                  though the Guarantor  instead of the Licensee was expressed to
                  be the principal debtor or obligor; and

         (B)      indemnify  Burberry  against all reasonable costs and expenses
                  (including  legal  fees)  which  Burberry  may pay or incur in
                  collecting any amount payable by or satisfying the obligations
                  of the  Licensee or the  Guarantor  and  referred to in clause
                  23.1(A).

23.2     Any amount not paid or obligation not performed by the Licensee and not
         recoverable  from or  satisfied  by the  Guarantor  on the  basis  of a
         guarantee  (whether  because  of any legal  limitation,  disability  or
         incapacity  on the part of the  Licensee  or any other  matter or thing
         whether  known to Burberry or not) shall  nevertheless  be  recoverable
         from the Guarantor on the basis of an indemnity.

23.3     The  Guarantor  acknowledges  that its  liability  under this clause 23
         shall not be  discharged  or affected in any way by time being given to
         the Licensee or by any other  indulgence or concession being granted to
         the Licensee or by any other act,  omission,  dealing,  matter or thing
         whatsoever  (including  without limitation any change in the memorandum
         or articles  of  association  of the  Licensee  or the  Guarantor,  any
         amendment   to  this   Agreement  or  the   liquidation,   dissolution,
         reconstruction  or amalgamation of the Licensee or the Guarantor or the
         illegality  or  enforceability  of this  Agreement)  which but for this
         provision  might operate to release the Guarantor from its  obligations
         under this clause 23.

23.4     The guarantee contained in this clause 23 is a continuing guarantee and
         shall  remain in full force and  effect  until all  obligations  of the
         Licensee  guaranteed  under this Agreement have been discharged in full
         notwithstanding  any variation,  release or other dealing with the same
         or any  invalidity  of the  same.  It is in  addition  to and shall not
         prejudice nor be prejudiced by any other guarantee,  indemnity or other
         security or right  against any third party which  Burberry may have for
         the due performance of the obligations concerned.

23.5     Burberry  will not be  obliged  before  exercising  any of the  rights,
         powers or remedies  conferred upon it against the Guarantor  under this
         clause 23 or by law:

         (A)      to make demand of the Licensee but Burberry shall by notice in
                  writing to the  Licensee  inform the  Licensee if it exercises
                  its rights against the Guarantor pursuant to this clause 23;

         (B)      to  enforce  or seek to  enforce  any  claim,  right or remedy
                  against the Licensee or any other person; or

         (C)      to make or file any claim in connection with the insolvency of
                  the Licensee or any other person; or

         (D)      to take any action or obtain  judgement  in any court  against
                  the Licensee or any other person.

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24.      BUSINESS ETHICS AND ENVIRONMENTAL POLICY

24.1     The Licensee recognises the importance of business ethics and therefore
         agrees to use its best  endeavours to comply with,  and to use its best
         endeavours to procure that all Approved  Contractors  and  Distributors
         comply  in all  material  respects  with  Burberry's  Code of  Business
         Principles  attached  hereto at appendix E (as such code may be updated
         by Burberry  from time to time,  provided  that the  Licensee  receives
         advance  notice from Burberry of such  updating) (the "Code of Business
         Principles").  For the  avoidance  of doubt,  for the  purposes of this
         Agreement  references to "the Company" and "we" in the Code of Business
         Principles  shall be  construed as meaning the  Licensee,  the Approved
         Contractors or the Distributors (as appropriate).  Notwithstanding  the
         foregoing,  failure of the Licensee to comply with the Code of Business
         Principles shall not be deemed to be a breach of this Agreement, except
         when the breach of the Code of Business  Principles is also a breach of
         this Agreement.

24.2     The Licensee  hereby agrees to use its best  endeavours to comply with,
         and use its best  endeavours  to procure that all Approved  Contractors
         and Distributors comply in all material respects with the Environmental
         & Social Policy.

24.3     A director or equivalent representative of the Licensee shall, upon the
         request of Burberry,  sign a  certificate  attesting to the  Licensee's
         compliance with the Code of Business Principles and the Environmental &
         Social Policy and the Licensee shall procure that,  upon the request of
         Burberry,  the Approved  Contractors and Distributors shall each sign a
         certificate  attesting to their respective  compliance with the Code of
         Business Principles and the Environmental & Social Policy.

24.4     The Licensee  shall both  throughout the duration of this Agreement and
         for at least  three (3) years  after  termination  thereof  (or, in the
         event that there is a Sell-Off Period, the termination of such Sell-Off
         Period):

         (A)      procure  that  Burberry   and/or  its  employees,   agents  or
                  professional advisers are permitted at any time to inspect and
                  make and retain  copies of all books of account  and  business
                  records  as are  kept  by the  Licensee  and/or  any  Approved
                  Contractor  which relate to the Burberry Items,  together with
                  all employment records and factory documentation and policies,
                  for the purposes of establishing  whether the Licensee and its
                  Approved Contractors have complied and continue to comply with
                  the Code of Business  Principles,  the  Environmental & Social
                  Policy and all applicable Laws;

         (B)      procure that Burberry and/or such other  employees,  agents or
                  professional  advisers are given such access to the Licensee's
                  and/or any such Approved  Contractor's  employees,  management
                  and auditors as is required in order to interview the same for
                  the  purposes  of  gaining  access  to,   interpreting  and/or
                  verifying such books and records and establishing  whether the
                  Licensee  and  its  Approved  Contractors  have  complied  and
                  continue to comply with the Code of Business  Principles,  the
                  Environmental & Social Policy and all applicable Laws;

         (C)      ensure full  co-operation  is given by the Licensee,  any such
                  Approved  Contractor  and/or their  employees,  management and
                  auditors in relation to any such inspection  and/or interview;
                  and

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         (D)      ensure  that  Burberry  and/or  such   employees,   agents  or
                  professional  advisors are given such access to the Licensee's
                  and Approved  Contractor's premises at which Licensed Products
                  and/or  other  Burberry  Items are  manufactured  or stored as
                  Burberry  shall  reasonably  require for the  purposes of such
                  investigation.

24.5     In the event that Burberry shares the conclusions of any  investigation
         undertaken  pursuant to clause  24.4 with the  Licensee,  the  Licensee
         shall in addition to any other amounts payable by the Licensee pursuant
         to this  Agreement  pay to  Burberry  on demand all costs and  expenses
         incurred  by  Burberry  in  relation  to such  investigation  on a full
         indemnity basis.

25.      REMEDIES

25.1     Each  party's  rights and  remedies  contained  in this  Agreement  are
         cumulative and not exclusive of any rights or remedies provided by law,
         equity or otherwise.

25.2     Notwithstanding  anything in this clause 25,  nothing in this Agreement
         shall exclude or restrict any party's  liability in respect of personal
         injury to or the death of any person.

25.3     Burberry or any other member of the Burberry Group shall be entitled at
         any time to deduct from any amount  owing from  Burberry or such member
         of the Burberry  Group to the Licensee or any member of the  Licensee's
         Group any  amount  then owing  from the  Licensee  or any member of the
         Licensee's Group to Burberry or any member of the Burberry Group.

25.4     For the avoidance of doubt and notwithstanding anything to the contrary
         contained in this  Agreement,  in the event  Burberry  terminates  this
         Agreement in  accordance  with clause 20.5, as a result of the Licensee
         not making the Minimum Net Wholesale  Sales in accordance  with clauses
         10.8 or 10.9 then in such event,  the Licensee  shall not be liable for
         any damages as the result of such termination but, without prejudice to
         any rights of Burberry accrued up to the date of such termination.

26.      CONFIDENTIALITY

26.1     Subject to the  provisions  of clause 26.2 and except for the  purposes
         contemplated  by this  Agreement,  no  party  to this  Agreement  shall
         whether during the continuance of this Agreement or thereafter  publish
         or otherwise disclose to any person other than pursuant to clause 26.3:

         (A)      any  secret  or  confidential   information  relating  to  the
                  business or affairs of any other party,  whether  technical or
                  commercial, obtained or received by it as a result of entering
                  into or performing  their  respective  obligations  under this
                  Agreement and relating to the negotiations  relating to or the
                  provisions or subject matter of this Agreement or any party to
                  it;

         (B)      any information  (other than  information  described in clause
                  26.1(A))  which if disclosed  might  reasonably  be considered
                  likely to affect  detrimentally  any other  party's  business,
                  goodwill or other legitimate interests;

         (C)      any  information  relating to the terms and conditions of this
                  Agreement; or

         (D)      any know how or trade secrets of Burberry,

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<PAGE>

         provided that,  notwithstanding  the provisions of sub-clauses  (A) and
         (B) above, any information  (including commercial  information) insofar
         as it  relates  to the  Licensed  Products  shall  be the  confidential
         information  of Burberry which Burberry shall be entitled to publish or
         disclose.

         For the avoidance of doubt the  obligations  of the Licensee under this
         clause  26.1  relate to the  information,  know how and  trade  secrets
         referred  to in  sub-clauses  (A),  (B),  (C)  and  (D)  above  and the
         obligations   of  Burberry   under  this  clause  26.1  relate  to  the
         information set out in sub-clauses (A) and (B) above only.

26.2     Each party may disclose confidential  information which would otherwise
         be  subject  to  clause  26.1  if but  only to the  extent  that it can
         demonstrate that:

         (A)      such  disclosure  is  required  by law  or by  any  securities
                  exchange   or   regulatory   or   governmental   body   having
                  jurisdiction over it, wherever situated (and including without
                  limitation,  the U.S.  Securities and Exchange Commission (the
                  "SEC"),  The Nasdaq Stock Market,  NASD Regulation,  The Paris
                  Bourse,   Financial  Services  Authority,   the  London  Stock
                  Exchange,  the Panel on Takeovers  and Mergers and the Serious
                  Fraud  Office),  and  whether or not the  requirement  has the
                  force of law. Notwithstanding the foregoing, Burberry has been
                  advised that this Agreement  constitutes a "material contract"
                  in  respect  of  the  Guarantor  and  is to be  filed  by  the
                  Guarantor with the SEC and be made available to the public via
                  the  Edgar  filing  system;   provided  that,   commercial  or
                  financial  information  consisting of the amount or percentage
                  of the Licence Fee,  Minimum  License Fee and  Advertising and
                  Promotion  are  to be  redacted  from  the  Agreement,  and an
                  application for confidential  treatment of such information is
                  to be  filed.  If a  challenge  to such  application  is made,
                  Guarantor shall promptly notify Burberry,  which may assist in
                  opposing such challenge. Further, the appendices and schedules
                  to this Agreement are not to be initially  filed via the Edgar
                  system  (except  for  the  LVMH  Agreement),  but  are  to  be
                  available  to the SEC upon  request.  Copies of such  redacted
                  Agreement shall be sent to Burberry for Burberry's comments as
                  promptly  as  practicable,  but not later than 14 days  before
                  submission or filing. The party making any disclosure pursuant
                  to  this  clause  14  shall  notify  the  party  to  whom  the
                  confidential information relates, prior to so doing;

         (B)      such information is already generally  available to the public
                  other  than  through  its fault or the fault of any  person to
                  whom  the  confidential  information  has  been  disclosed  in
                  accordance with clause 26.3; or

         (C)      the  confidential  information  was lawfully in its possession
                  prior to its disclosure by the relevant party (as evidenced by
                  written  records) and had not been  obtained from the relevant
                  party.

26.3     Each party may for the purposes contemplated by this Agreement disclose
         confidential  information to the following  persons or any of them on a
         strict need-to-know basis, but subject to the restrictions contained in
         schedule 3:

         (A)      its  professional  advisers,  auditors,  bankers and  insurers
                  acting as such; and

         (B)      its directors, officers and senior employees.

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26.4     Subject to the  provisions  of clause 26.2,  no party to the  Agreement
         shall  make  any  announcement   (including,   without  limitation  any
         communication  to the public or to any of its  customers,  suppliers or
         employees)   concerning  the  provisions  or  subject  matter  of  this
         Agreement or containing any  information  about any other party to this
         Agreement without the prior written approval of the others (which shall
         not be unreasonably withheld or delayed). In any event,  Burberry,  the
         Licensee and the Guarantor shall not make any statement or announcement
         to  any  third  party  or  issue  any  press  release  concerning  this
         Agreement, Burberry, the Licensee or the Guarantor, as the case may be,
         which is detrimental to Burberry, the Licensee or the Guarantor, as the
         case  may  be,  their   respective   businesses   and/or  the  Burberry
         Intellectual Property or the Licensee or the Licensee's Group or any of
         their respective businesses or assets.

26.5     The Licensee and the Guarantor may not use without Approval:

         (A)      the Licensed Trade Marks;

         (B)      Licensed Products marketed by the Licensee;

         (C)      Formulae; or

         (D)      any images used or to be used in Promotion or Advertising,

         in any document publicly filed or mailed to any shareholder.

26.6     Any  information and documents  requested by Burberry  pursuant to this
         Agreement or which  otherwise  relates to Burberry's  business shall be
         considered  to be secret or  confidential  information  of Burberry and
         subject to clause 26.1(A). Such information and documents shall (unless
         the  Licensee or the  Guarantor  as  appropriate  notifies  Burberry in
         writing to the contrary at the time of its  disclosure  to Burberry) be
         provided by the Licensee or the  Guarantor as  appropriate  without any
         third party restriction as to  confidentiality  and the Licensee or the
         Guarantor as appropriate  shall procure that any such information shall
         not be or be considered to be confidential or secret information of any
         third party.

26.7     For the avoidance of doubt, any information relating to the business or
         affairs of any third party  licensee  of  Burberry,  including  without
         limitation,  details of terms of any agreement  between  Burberry and a
         third  party  licensee  which  are  disclosed  to the  Licensee  or the
         Guarantor   by  Burberry  for  any  reason   whatsoever,   is  strictly
         confidential  and neither the Licensee nor the Guarantor  shall divulge
         such information to any third party without Approval.

27.      RELATIONSHIP BETWEEN THE PARTIES

27.1     Nothing in this Agreement shall constitute or be deemed to constitute a
         partnership between the parties nor shall it constitute or be deemed to
         constitute any party the agent of any other for any purpose.

27.2     The  Licensee  shall  act in good  faith and in the best  interests  of
         Burberry in all its dealings  regarding this Agreement and the Licensed
         Products.  Subject to any express  provisions  to the  contrary in this
         Agreement no party shall have any authority or power to act, enter into
         any contract,  make any representation,  give any warranty,  assume any
         obligation whether

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<PAGE>

         express  or  implied  of any kind,  bind any other  party or any of its
         agents  or to incur  any  liability  whatsoever  on behalf of any other
         party.

27.3     Each party  represents  and warrants to the others that it has the full
         right,  power and authority to enter into this Agreement and to perform
         all of its obligations under this Agreement.

28.      NOTICES

28.1     Any notice,  Approval or other document or consent required to be given
         under  this  Agreement   shall  be  in  writing  and  shall  be  deemed
         sufficiently given to the party to be served if it is:

         (A)      delivered by hand; or

         (B)      sent by courier  provided the service used is such that sender
                  receives a receipt indicating successful delivery,

                  to the following addresses:

                  Burberry:     St. Albans House, 10 St. Albans Street, London
                                SW1Y 4SQ, United Kingdom

                  Licensee:     4, rond point des Champs Elysees, 75008 Paris,
                                France

                  Guarantor:    551 Fifth Avenue, New York, NY 10176 USA.

                  or to such other  address(es)  as may be notified from time to
                  time in accordance with this Agreement.

28.2     Such notices shall:

         (A)      if  sent to  Burberry  be  marked  for  the  attention  of the
                  Authorised   Business   Representative  with  a  copy  to  the
                  Authorised Legal Representative; and

         (B)      if  sent to the  Licensee  or  Guarantor,  be  marked  for the
                  attention  of  Mr.  Philippe   Benacin  and  Mr.  Jean  Madar,
                  respectively,

         and any  notice  or other  document  served  in  accordance  with  this
         Agreement shall if delivered by hand be deemed served on delivery if it
         is  delivered  not later than 17.00  hours on a Working Day or if it is
         delivered  later than 17.00  hours on a Working Day or at any time on a
         day which is not a Working Day,  09.00 hours on the next Working Day or
         within five (5) Working Days of the date of collection from the sending
         party by the courier or delivery to the courier, if sent by courier.

29.      ENTIRE AGREEMENT

29.1     This Agreement together with any documents referred to in the Agreement
         supersedes and extinguishes  all previous drafts,  all previous oral or
         written  agreements  (save as  expressly  provided in this  Agreement),
         arrangements    between   the    parties   (if   any),    undertakings,
         representations  and  warranties in relation to its subject  matter and
         embodies the entire

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<PAGE>

         understanding  of the  parties  and  constitutes  the  whole  agreement
         between the parties in relation to its subject matter.

29.2     Each party hereby  acknowledges that in entering into this Agreement it
         has not been induced by or relied upon any  representation  or warranty
         not  expressly  included in this  Agreement and having  negotiated  and
         freely entered into this Agreement agrees (except as expressly provided
         in this  Agreement)  that it shall have no  remedies  in respect of any
         representation except in the case of fraud.

29.3     No  amendments  to or  modifications  of any of the  provisions of this
         Agreement shall be effective unless they are in writing and signed by a
         duly authorised representative of each of the parties.

30.      SEVERABILITY

30.1     Each of the  provisions  contained in this Agreement and in each clause
         and sub-clause of this  Agreement  shall be construed as independent of
         every other such provision,  so that if any provision of this Agreement
         or the  application of any provision to any person,  firm or company or
         to any  circumstances  shall be determined  by any  competent  court or
         authority to be invalid,  illegal, void or unenforceable under the Laws
         of any  jurisdiction  then  such  determination  shall not  affect  the
         legality,  validity and  enforceability  of any other provision of this
         Agreement  in  that   jurisdiction  and  the  legality,   validity  and
         enforceability of the whole of this Agreement in any other jurisdiction
         shall not be affected.

30.2     If any such  provisions  shall be found to be invalid or  unenforceable
         but would be valid if some part  thereof  were deleted or the period or
         area of  application  reduced  such  provisions  will  apply  with such
         modification  or  modifications  as may be necessary to make them valid
         and effective.

31.      NO WAIVER

         No forbearance,  indulgence or relaxation shown or granted by any party
         to any other party in enforcing any of the terms and conditions of this
         Agreement shall in any way affect, diminish, restrict, operate as or be
         deemed to be a waiver of any breach of any such terms or  conditions by
         such other party unless operated in writing signed by a duly authorised
         representative  of the first party. Any waiver by a party of any breach
         shall not operate as a waiver by such party of any subsequent breach.

32.      NO BROKERAGE FEE

         No  party  is or will be  obliged  or  required  to pay any  brokerage,
         introduction  or finder's fee of any kind to another party or any third
         party in connection with this Agreement or its execution and each party
         warrants and undertakes that it has not paid, will not pay and is under
         no obligation (legal or moral) to pay any such fee.

33.      COUNTERPARTS

         This Agreement may be executed in any number of  counterparts,  each of
         which  when  executed  shall be an  original  but all the  counterparts
         together shall constitute one and the same instrument.

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<PAGE>

34.      NO ASSIGNMENT

         This Agreement and the rights granted to the Licensee  respectively are
         personal  and  non-transferable.  Accordingly  subject to clause 19 the
         Licensee  shall not  mortgage,  charge,  sub-contract,  sub-license  or
         assign or otherwise transfer or deal with this Agreement or any part of
         this Agreement or any of its rights, benefits or obligations under this
         Agreement or purport to do any of such acts or things.

35.      GOVERNING LAW AND JURISDICTION

         This  Agreement  shall be  governed  by,  subject to and  construed  in
         accordance  with the Laws of England.  Except as otherwise  provided in
         this Agreement each of the parties irrevocably submits to the exclusive
         jurisdiction of the Courts of England  (subject as mentioned  below) in
         relation to matters arising under this Agreement, provided that nothing
         contained in this  Agreement  shall prevent  Burberry from bringing any
         proceedings against the Licensee and/or the Guarantor or from obtaining
         any  injunctive or other similar relief which may be available to it in
         the  courts  of any  jurisdiction  in which  the  Licensee  and/or  the
         Guarantor  has a place of  business  in any  particular  case,  and the
         Licensee  and/or  the  Guarantor  as  appropriate  shall  submit to the
         jurisdiction of any such Court.

35.1     PROCESS AGENT

         (A)      The Licensee  irrevocably appoints Baker & McKenzie of 100 New
                  Bridge Street, London EC4V 6JA as its process agent to receive
                  on  its  behalf  service  of  process  of any  proceedings  in
                  England.  Service upon the process agent shall be good service
                  upon  the  Licensee  whether  or  not it is  forwarded  to and
                  received  by the  Licensee.  If, for any  reason,  the process
                  agent ceases to be able to act as process agent,  or no longer
                  has an address in England,  the Licensee irrevocably agrees to
                  appoint a substitute  process agent with an address in England
                  acceptable  to  Burberry  and to deliver to Burberry a copy of
                  the substitute  process agent's acceptance of that appointment
                  within thirty (30) days. In the event that the Licensee  fails
                  to appoint a substitute  process agent,  it shall be effective
                  service for  Burberry to serve the process upon the last known
                  address in England  of the last  known  process  agent for the
                  Licensee  notified  to  Burberry   notwithstanding  that  such
                  process agent is no longer found at such address or has ceased
                  to act.

         (B)      The Guarantor irrevocably appoints Baker & McKenzie of 100 New
                  Bridge Street, London EC4V 6JA as its process agent to receive
                  on  its  behalf  service  of  process  of any  proceedings  in
                  England.  Service upon the process agent shall be good service
                  upon  the  Guarantor  whether  or not it is  forwarded  to and
                  received by the  Guarantor.  If, for any  reason,  the process
                  agent ceases to be able to act as process agent,  or no longer
                  has an address in England, the Guarantor irrevocably agrees to
                  appoint a substitute  process agent with an address in England
                  acceptable  to  Burberry  and to deliver to Burberry a copy of
                  the substitute  process agent's acceptance of that appointment
                  within  30 days.  In the  event  that the  Guarantor  fails to
                  appoint a  substitute  process  agent,  it shall be  effective
                  service for  Burberry to serve the process upon the last known
                  address in England  of the last  known  process  agent for the
                  Guarantor  notified  to  Burberry  notwithstanding  that  such
                  process agent is no longer found at such address or has ceased
                  to act.

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36.      CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999

36.1     The  Licensee  and the  Guarantor  acknowledge  that  each of  Burberry
         Affiliates  shall have the  benefit  of  Burberry's  rights  under this
         Agreement and shall have the right to enforce such rights in accordance
         with the  provisions  of the  Contracts  (Rights of Third  Parties) Act
         1999.  Except  as stated  in this  clause  36.1,  the  parties  to this
         Agreement  do not intend that any of its terms will be  enforceable  by
         virtue  of the  Contracts  (Rights  of Third  Parties)  Act 1999 by any
         person not a party to it.

36.2     The consent of any of Burberry's  Affiliates  shall not be required for
         the variation or termination of this Agreement,  even if that variation
         or termination affects the benefit conferred on such Affiliate.
                                       75
<PAGE>

                             APPENDIX A: INFORMATION

I.       ROYALTY REPORTS

         Monthly, Semi-Annually and Annually:
            -  sales to Subsidiaries, Distributors and Retailers by jurisdiction
         Quarterly, Semi-Annually and Annually:
            -  sales to Subsidiaries, Distributors and Retailers by jurisdiction
               by fragrance line
            -  expenditures  for Advertising and Promotion:  this must be broken
               down for each Advertising and Promotion programme
            -  Licence Fee calculation (including Advertising and Promotion)
            -  inventory by jurisdiction

II.      SALES INFORMATION

         This must  include in all  instances  the number (and price of sale) of
         sales at List Price, sales after Discount and sales at actual price.

         Quarterly:
            -  sales from Subsidiaries and Distributors to Retailers
            -  sales from selected Subsidiaries and Distributors to Retailers by
               fragrance line
            -  sales from Subsidiaries and Distributors to Burberry Group
            -  global and market update
         Semi-Annual:
            -  sales to Retailers by jurisdiction
            -  sales  to top  100  Retailers  excluding  the  USA and top 20 USA
               Retailers
         GENERAL

                  -  price lists - Annual (or updated if adjustments made)
                  -  Retailer lists by jurisdiction - Annual
                  -  Inter   Parfums   Subsidiary   and   Distributor   lists  -
                     Semi-Annual
                  -  Approved  Contractor  list  (including  the  full  name and
                     address of each Approved  Contractor;  which Burberry Items
                     are manufactured by which Approved Contractors and at which
                     premises;  details of any contractors  used by the Licensee
                     in respect  of the  Licensed  Products  which have not been
                     Approved).

For the  purpose  of this  Appendix  A only,  `Annual'  means at the end of each
Licensed Year and `Annually' shall be construed accordingly. `Semi-Annual' means
at the end of each 6 month period of each Licensed Year.

                                       76
<PAGE>

                             APPENDIX B: ASSIGNMENT
             Current Form - this is subject to variation by Burberry

THIS DEED OF ASSIGNMENT is made the                       day of          200[ ]

BETWEEN:

(1)      BURBERRY LIMITED a company  incorporated under the laws of England with
         no. 162636 having its registered  office at 18/22 Haymarket London SW1Y
         4DQ ("BURBERRY"); and

(2)      [NAME AND ADDRESS OF ASSIGNOR] ("ASSIGNOR").

1.       In this  Assignment,  the  following  terms  shall  have the  following
         meanings:

         "ASSIGNED  RIGHTS"  means  all  Intellectual  Property  Rights in or in
         respect of:

         (a)      the Products  (including  without  limitation all external and
                  internal   features   thereof   and   the   patents,    patent
                  applications,  names,  brands, trade names and trade marks (if
                  any) listed in the schedule hereto); and

         (b)      all   drawings,    sketches,    plans,    designs,    artwork,
                  illustrations,   models,  instructions,   formulae,  technical
                  information, lists of ingredients, recipes, computer programs,
                  processes,  tooling  and  moulds  created  for the  purpose of
                  designing and/or producing the Products; and

         (c)      all corresponding photographs,  drawings, designs, artwork and
                  text in related advertising and marketing materials;

         "INTELLECTUAL PROPERTY RIGHTS" means all patents,  copyright,  database
         rights,  design rights,  trade marks,  service  marks,  rights in trade
         dress and  rights of  confidence  in  relation  to any  information  or
         know-how,  in any case whether  registered or unregistered,  along with
         any applications for  registration  thereof,  and along with any rights
         similar or analogous thereto in any part of the world;

         "PRODUCTS" means the products listed in the schedule hereto.

2.       The Assignor  HEREBY ASSIGNS to Burberry with full title guarantee free
         from all liens,  charges  and  encumbrances  all its  right,  title and
         interest in the  Assigned  Rights  together  with all common law rights
         connected  thereto and together with all the rights of action,  powers,
         benefits and  immunities  belonging to the same  wherever in the world,
         including  the right to sue for and obtain  damages and other relief in
         respect of any act of infringement (whether past, present or future) of
         the Assigned  Rights or any of them or the  violation of any common law
         rights  connected  with the Assigned  Rights or any of them TO HOLD the
         same unto Burberry absolutely.

3        All goodwill in the Assigned Rights  howsoever  arising shall accrue to
         Burberry.

                                       77
<PAGE>

4.       The  Assignor  covenants  with  Burberry  that it will execute all such
         further assignments,  transfers,  deeds,  documents or other assurances
         and do all further  acts and things as Burberry may require in order to
         become  registered as the proprietor of any registered  Assigned Rights
         and/or to become the legal and beneficial  owner of the Assigned Rights
         and otherwise to give effect to the terms of this Assignment.

5.       The  Assignor has  obtained  (and shall  deliver to Burberry on demand)
         from the authors of the items and  materials in which the  Intellectual
         Property  Rights subsist  absolute  waivers of any rights they may have
         and the Assignor hereby waives  absolutely any rights he may have to be
         identified  as the  author  of any such  items or  materials  and their
         respective rights to object to any derogatory  treatment thereof and so
         far as legally possible any broadly  equivalent rights they may have in
         any territory in the world.

6.       This Assignment  shall be subject to English Law and the parties submit
         to the exclusive jurisdiction of the English Courts.

In witness  whereof the parties  have  executed and  delivered  this Deed on the
above date

EXECUTED AND DELIVERED by           )

BURBERRY LIMITED                    )         ..................................

as a DEED by these signatures       )                     DIRECTOR

                                              ..................................

                                                      DIRECTOR/SECRETARY
EXECUTED AND DELIVERED by           )

[ASSIGNOR]                          )

as a DEED by these signatures       )
[NB SIGNATURES WILL VARY DEPENDING UPON LEGAL STATUS OF ASSIGNOR]
                                       78
<PAGE>

                             SCHEDULE TO APPENDIX B

[DETAILS OF PRODUCTS]

[DETAILS OF TRADEMARKS ETC INCLUDING REGISTRATION DETAILS]

                                       79
<PAGE>

                  APPENDIX C: APPROVED CONTRACTORS UNDERTAKING

             [TO BE TYPED ON BURBERRY HEADED NOTEPAPER BY BURBERRY]

Date:

Dear Sirs

APPROVED CONTRACTORS UNDERTAKING

1.       LIMITATION

1.       This letter does not licence or authorise you to manufacture, supply or
         sell Samples (as defined in paragraph  3(i) below) or Goods (as defined
         in  paragraph  3(ii)  below) to any party other than  Burberry  Limited
         ("Burberry") or Inter Parfums,  S.A.  ("Licensee") acting as a licensee
         to Burberry. Any such manufacture for or supply or sale to the Licensee
         shall:

         (a)      be solely for the Licensee's purpose acting in its capacity as
                  a licensee to Burberry, and shall be in strict accordance with
                  the licence  agreement  between  Burberry and the Licensee and
                  any written approval given thereunder; and

         (b)      in respect  of  manufacture  shall only be carried  out at the
                  industrial manufacturing premises at [ ] ("Factory") which you
                  represent and warrant are wholly owned and controlled by you.

2.       This  letter  does not  appoint  you as a  Burberry  licensee.  You are
         strictly prohibited from holding yourself out as a Burberry licensee or
         from purchasing any items (including products, materials,  trimmings or
         packaging)  bearing  Burberry  Intellectual  Property  (as  defined  in
         paragraph 4 below) except from another person who has been appointed or
         approved by Burberry as a sub-contractor of the Licensee to manufacture
         such items PROVIDED THAT:

         (a)      such appointment has not been terminated; and

         (b)      you notify  Burberry of such  purchase and provide to Burberry
                  such  details  in  relation  to  such   purchase  as  Burberry
                  requires; and

         (c)      such  person  has  signed a letter in a form  identical  to or
                  similar to this letter.

3.       This  letter  sets out the terms and  conditions  upon  which  Burberry
         appoints or approves you as a sub-contractor of the Licensee to:

         (i)      produce such sample fragrance products  incorporating Burberry
                  Intellectual  Property  ("Samples")  or such  designs  for the
                  packaging or components  of the  packaging for those  products
                  ("Designs"); and/or

         (ii)     manufacture  such  fragrance   products  (in  such  packaging)
                  incorporating  Burberry Intellectual Property in fulfilment of
                  separate orders ("Goods"),

                                       80
<PAGE>

         as  specified in the  attached  schedule  and for no other  purpose and
         (together with Burberry's or the Licensee's Conditions of Purchase from
         time to time in force)  will apply to any orders  placed by Burberry or
         the  Licensee  with  you  from  time  to  time  and in the  case of any
         inconsistency  between  the terms of this  letter  and the terms of any
         individual order the terms of this letter shall prevail.

4.       In consideration  of your  appointment  hereunder to supply Burberry or
         the  Licensee  you shall be  authorised  to use  Burberry  Intellectual
         Property solely on and in connection  with the Designs,  Samples and/or
         the Goods (as the case may be) in accordance with any specific  written
         authority or orders given by Burberry or the Licensee  (acting pursuant
         to the licence  agreement between Burberry and the Licensee and written
         approval  given by  Burberry  thereunder)  from time to time but for no
         other purpose. In this letter Burberry Intellectual Property shall mean
         all or any of the  following  as the same  shall  subsist  from time to
         time:

         (a)      all trade marks and designs  registered  or applied for in the
                  name of Burberry (whether in the UK or elsewhere);

         (b)      all trading names or brand names  (whether  registered or not)
                  presently  or  hereafter  used by Burberry  in which  Burberry
                  claims any  exclusive  rights to the  extent of the  exclusive
                  rights claimed;

         (c)      all designs  (whether  registered  or not) used by Burberry in
                  which  Burberry  claims  any  exclusive  rights in  particular
                  without prejudice to the generality of the foregoing the check
                  design (in whatever size and in whatever material) represented
                  by the  famous and  distinctive  camel,  red,  white and black
                  check design used by Burberry for many years and known as "the
                  Burberry Check" (with which you are familiar);

         (d)      any works in which  copyright  and/or  design right belongs to
                  Burberry;

         (e)      all patents  registered or applied for in the name of Burberry
                  (whether in the UK or elsewhere); and

         (f)      any Created Rights (as defined in paragraph 8).

5.       You shall not be entitled to  sub-contract,  assign or  otherwise  deal
         with  any of your  duties,  rights  or  obligations  hereunder  without
         Burberry's prior written consent.

6.       Without  prejudice  to the  prohibition  in  paragraph 5, prior to your
         sub-contracting any of your duties,  rights or obligations hereunder to
         a third  party  you  shall  procure  for the  benefit  of  Burberry  an
         undertaking  from such third  party on the same terms as this letter or
         such other terms as shall then  currently  be used by Burberry  and you
         shall  guarantee that upon the termination of that  sub-contracting  or
         upon  demand  by  Burberry  such  third  party  shall  comply  with the
         obligations  as  imposed  upon you as set out in  paragraph  19 of this
         letter.  Notwithstanding  the foregoing  Burberry reserves the right at
         any time at Burberry's  absolute  discretion to withdraw its consent to
         your  sub-contracting  any  of  your  duties,   rights  or  obligations
         hereunder,  either in general or in  relation  to any  specified  third
         party or  parties,  and if Burberry  does so  withdraw  its consent you
         shall forthwith cease so to use the relevant third party or parties and
         shall  place no  further  orders  for  Designs,  Samples  and/or  Goods
         therewith.

                                       81
<PAGE>

7.       You hereby agree to  indemnify  Burberry  and keep  Burberry  fully and
         effectively  indemnified against any sums which Burberry is required to
         pay to acquire  full and free right  title and  interest to all and any
         Created  Rights  (as  defined  in  paragraph  8 below)  from  you,  any
         sub-contractor of yours or from any other third party.

8.       You hereby  acknowledge  Burberry's  sole and exclusive right title and
         interest in Burberry  Intellectual Property and you further acknowledge
         and agree  that all  copyright,  design  rights  and other  rights of a
         similar  nature in any  jurisdiction  in all and any  Designs,  Samples
         and/or Goods produced for supply to Burberry or the Licensee  including
         any drawings, sketches, plans, designs, artwork, illustrations, models,
         instructions,  formulae,  lists of ingredients,  technical information,
         recipes, processes, instructions,  computer programs, tooling or moulds
         in respect thereof ("Created Rights") shall belong to Burberry and that
         you hereby undertake to execute,  or arrange to have executed,  any and
         all  documentation  required to vest all such rights in and to Burberry
         (including without limitation the Assignment in the form annexed hereto
         as the same may be amended from time to time by  Burberry)  and neither
         you nor anyone  acting on behalf of you shall  claim any right title or
         interest  to such  rights  whatsoever.  To the extent  that any Created
         Rights do not vest in Burberry by  operation  of law,  you shall assign
         the same to  Burberry  with full  title  guarantee,  or where  possible
         hereby assign the same to Burberry with full title  guarantee by way of
         a present assignment of future rights.

9.       You hereby undertake not:

         (a)      to use for your own  purposes  or to  disclose  or allow to be
                  disclosed to any third party any confidential  information (or
                  information   which   is   considered   by   Burberry   to  be
                  confidential)  concerning  the business or affairs of Burberry
                  including without  limitation details of any know how or trade
                  secrets of  Burberry  including  without  limitation  any such
                  know-how or trade  secrets  relating to the  Formulae (as such
                  are defined in the licence  agreement between Burberry and the
                  Licensee);

         (b)      to make any  statement or  announcement  to any third party or
                  issue any press release concerning Burberry; and

         (c)      to make any  statement in any form or indicate in any way that
                  there is any relationship between you and Burberry or that you
                  are an approved contractor.

10.      You shall mark all and any artwork, drawings,  illustrations or designs
         and any other material,  including without  limitation the Designs made
         by you,  pursuant to an order from Burberry or the Licensee pursuant to
         an order from  Burberry,  with the following  statement  "COPYRIGHT (C)
         BURBERRY  LIMITED  [YEAR]"  and shall  maintain a record of the date of
         creation of all such material.

11.      If you  shall  become  aware  of  any  unauthorised  use  or  suspected
         unauthorised use of any of Burberry's  Intellectual  Property or of any
         claim that any item bearing Burberry's  Intellectual Property infringes
         the rights of any third party you shall notify Burberry immediately and
         shall give all information and assistance  (other than financial) which
         is  required  by  Burberry  to  prosecute  any  claim or take any other
         action,  against any such  infringer or to defend any such claim by any
         third  party.  You  shall  not do or  omit  to do  anything  which  may
         prejudice Burberry's conduct of such proceedings or other action.

12.      In the case of the  production  of  Samples  and/or  Goods  you  hereby
         undertake as follows:-

                                       82
<PAGE>

         (a)      not to buy,  sell,  manufacture,  produce or otherwise deal in
                  any   merchandise  in  which,   or  on  which,   any  Burberry
                  Intellectual   Property  is  used  or   incorporated   without
                  Burberry's prior written consent;

         (b)      not to use or allow to be used any items which  incorporate or
                  represent any of the Burberry  Intellectual  Property supplied
                  for the  production of Samples  and/or Goods other than in the
                  production of such Samples and/or Goods;

         (c)      to deliver up to Burberry or its authorised representative all
                  excess,  second quality and defective  Goods and/or Samples in
                  or upon  which the  Burberry  Intellectual  Property  has been
                  incorporated or appears, if so required, subject to payment by
                  Burberry of a reasonable  price therefor (which price shall in
                  any event not exceed the lower of cost price or market value).
                  Any such  Goods  and/or  Samples  which  are not  required  by
                  Burberry  shall be  destroyed  at your own cost and you  shall
                  provide  Burberry  with  proof  of  compliance  of  this  upon
                  Burberry's request; and

         (d)      to conform to and comply with all  international  and national
                  conventions  and all  relevant  laws,  rules  and  regulations
                  relating to the  employment of labour (in  particular  without
                  limitation  child and forced labour) and employees'  terms and
                  conditions of employment  and comply with general  environment
                  responsibilities and best practices.

13.      Where any items (including  without limitation those referred to in sub
         paragraph 12(b)) are supplied to you by or on behalf of Burberry or the
         Licensee  (whether  such items are  charged  for or not) you shall hold
         such items as bailee for and to the order of Burberry  or the  Licensee
         respectively  and shall deal with them as Burberry or the  Licensee may
         direct  provided  always  that if you shall  have paid any  charges  in
         respect  of such  items and you are  required  to  deliver  the same to
         Burberry or the Licensee or their respective authorised  representative
         such charges shall be reimbursed.

14.      You  hereby  waive all and any  moral  rights  (or  rights of a similar
         nature) arising in respect of the Created Rights.

15.      At all times  during  your  appointment  hereunder,  and for at least 6
         months thereafter you hereby permit Burberry and/or its representative,
         to enter and  inspect at any time upon  reasonable  advance  notice and
         without any undue interruption in the normal business  operations,  any
         premises  upon  which any  Designs,  Samples or Goods are being or have
         been manufactured or stored and to supervise the manufacture or storage
         of such Designs,  Samples or Goods and to ensure compliance by you with
         the terms of this letter and alter your  practices  where  necessary to
         comply with such terms.

16.      Both  throughout the duration of your  appointment and for at least six
         years thereafter you shall:

         (a)      provide  forthwith at the request of Burberry  full details of
                  all Goods and Samples you have supplied, all purchasers and/or
                  recipients  of such Goods and  Samples and your stock of Goods
                  and Samples and their current location;

         (b)      keep full and accurate books and records of accounts  relating
                  to all dealings in respect of all  Designs,  Samples and Goods
                  produced and all your dealing in relation to this appointment;
                  and

                                       83
<PAGE>

         (c)      hereby permit Burberry and/or its representative to inspect at
                  any times such books and records and to make and retain copies
                  of them and/or extracts from them.

17. You shall not and shall  procure  that your  employees  and  representatives
shall not:

         (a)      make or attempt to make directly or indirectly  any payment or
                  gift of any  description  (whether or not such payment or gift
                  is solicited) to:

                  (i)      any  employee  or  representative  of Burberry or any
                           company  which is a holding  company or subsidiary of
                           Burberry or under common control with Burberry; or

                  (ii)     to any family  relation  of any person  described  in
                           sub-paragraph (i) above;

         (b)      in any way induce or attempt to induce  (whether by means of a
                  payment of money or otherwise) any employee or  representative
                  (including  without  limitation  any  licensee) of Burberry to
                  conceal  from  Burberry  or to overlook  any act,  omission or
                  other  circumstances  which  would  amount  to a breach of the
                  terms of this letter; or

         (c)      fail to notify  Burberry  in  writing  promptly  if you,  your
                  employees or representatives  are aware that any such employee
                  or  representative  as referred to in sub-paragraph  (b) above
                  has indicated  that he/she may so overlook or conceal a breach
                  of the terms of this letter if so induced; or

         (d)      pay any broker's fees,  bribes,  pay-offs,  commissions (other
                  than customary  sales  commissions  in the ordinary  course of
                  business),  royalty  sharing  or the like to any  third  party
                  which  relates in any way to this  letter or your  appointment
                  hereunder.

18.      Burberry  shall be entitled to  terminate  your  appointment  hereunder
         together  with any  rights  granted  to you  hereunder  forthwith  upon
         written notice:

         (a)      in the event that Burberry and/or the Licensee wishes to place
                  no further orders with you;

         (b)      in the event that  Burberry's  agreement  with the Licensee is
                  terminated or expires;

         (c)      in any  circumstances in which any agreement  between Burberry
                  and the Licensee allows such appointment to be terminated;

         (d)      in the event that  Burberry  wishes you to sign a revised form
                  of letter to replace  this  letter and you refuse to sign such
                  revised form of letter;

         (e)      if you breach  any of the terms of this  letter  and,  if such
                  breach is  capable  of remedy,  shall not have  remedied  such
                  breach  within 14 days of  receipt of a notice  from  Burberry
                  requiring you to do so;

         (f)      if (being an individual or partnership)  you have a bankruptcy
                  order made  against  you or (being a company)  you shall enter
                  into liquidation or (being any of the aforementioned) you have
                  a receiver, administrator or administrative receiver appointed
                  of all or any  part of  your  assets  or  shall  enter  into a
                  composition  with your  creditors  or shall take or suffer any
                  action  relating to your  insolvency or in

                                       84
<PAGE>

                  consequence  of  debt  similar  or  analogous  to  any  of the
                  foregoing under the laws of any jurisdiction in the world;

         (g)      if you breach any of the terms of paragraph 5; and

         (h)      if you breach any of the terms of paragraph 9, 12 or 17.

19.      Upon  termination  howsoever  arising or expiry of the  appointment  to
         which the terms of this letter  relate or upon demand by Burberry,  you
         shall  (subject  to the  provisions  of  paragraph  13)  deliver  up to
         Burberry  or  the  Licensee  or  their   respective   duly   authorised
         representative:

         (a)      the  Designs,  and all and any  drawings,  models,  prototypes
                  and/or any other  materials  made by you  pursuant to an order
                  from Burberry or the Licensee;

         (b)      all and any items incorporating Burberry Intellectual Property
                  which were  supplied  by  Burberry  or the  Licensee to you in
                  connection with your appointment; and

         (c)      all and any  Samples  which  have not been  incorporated  into
                  Goods pursuant to an order from Burberry or the Licensee,

         and  shall   immediately   cease  to  make  any  use  of  the  Burberry
         Intellectual Property. Without limitation to the foregoing,  paragraphs
         1, 2, 5, 6, 7, 8, 9, 12,  13,  14,  15, 16, 17, 19, 20, 21 and 22 shall
         survive  the  termination  for  whatever  reason  of  your  appointment
         hereunder.

20.      This letter  agreement  does not constitute an order by Burberry or the
         Licensee  nor does it  oblige  Burberry  or the  Licensee  to place any
         order(s) with you in the future.

21.      This letter shall  supersede all previous Design and Samples letters or
         Samples and Orders letters or the like between the parties.

22.      It is  acknowledged  that the terms of this letter shall be governed by
         and  construed  in  accordance  with the laws of England and you hereby
         irrevocably submit to the exclusive  jurisdiction of the English courts
         provided  that nothing  herein shall  prevent  Burberry or the Licensee
         applying for  injunctive  or any other relief which may be available to
         it in the jurisdiction in which you carry on business in any particular
         case.

To signify  your  agreement  with the above  please sign and return the attached
copy of this letter.

Yours faithfully
..........................................

For and on behalf of
BURBERRY LIMITED

                                       85
<PAGE>

We hereby agree to the above terms and  conditions  and agree to be bound by and
observe all of the obligations and undertakings hereunder.

.................................................
Duly authorised signatory
For and on behalf of
[                         ]
                                       86
<PAGE>

                             SCHEDULE TO APPENDIX C

                 [LIST THE SAMPLES AND GOODS - SEE PARAGRAPH 3]
                                       87
<PAGE>

                               ANNEX TO APPENDIX C

             Current Form - this is subject to variation by Burberry

THIS DEED OF ASSIGNMENT is made the                     day of            200[ ]

BETWEEN:

(3)      BURBERRY LIMITED a company  incorporated under the laws of England with
         no. 162636 having its registered  office at 18/22 Haymarket London SW1Y
         4DQ ("BURBERRY"); and

(4)      [NAME AND ADDRESS OF ASSIGNOR] ("ASSIGNOR").

1.       In this  Assignment,  the  following  terms  shall  have the  following
         meanings:

         "ASSIGNED  RIGHTS"  means  all  Intellectual  Property  Rights in or in
         respect of:

         (d)      the Products  (including  without  limitation all external and
                  internal   features   thereof   and   the   patents,    patent
                  applications,  names,  brands, trade names and trade marks (if
                  any) listed in the schedule hereto); and

         (e)      all   drawings,    sketches,    plans,    designs,    artwork,
                  illustrations,   models,  instructions,   formulae,  technical
                  information, lists of ingredients, recipes, computer programs,
                  processes,  tooling  and  moulds  created  for the  purpose of
                  designing and/or producing the Products; and

         (f)      all corresponding photographs,  drawings, designs, artwork and
                  text in related advertising and marketing materials;

         "INTELLECTUAL PROPERTY RIGHTS" means all patents,  copyright,  database
         rights,  design rights,  trade marks,  service  marks,  rights in trade
         dress and  rights of  confidence  in  relation  to any  information  or
         know-how,  in any case whether  registered or unregistered,  along with
         any applications for  registration  thereof,  and along with any rights
         similar or analogous thereto in any part of the world;

         "PRODUCTS" means the products listed in the schedule hereto.

2.       The Assignor  HEREBY ASSIGNS to Burberry with full title guarantee free
         from all liens,  charges  and  encumbrances  all its  right,  title and
         interest in the  Assigned  Rights  together  with all common law rights
         connected  thereto and together with all the rights of action,  powers,
         benefits and  immunities  belonging to the same  wherever in the world,
         including  the right to sue for and obtain  damages and other relief in
         respect of any act of infringement (whether past, present or future) of
         the Assigned  Rights or any of them or the  violation of any common law
         rights  connected  with the Assigned  Rights or any of them TO HOLD the
         same unto Burberry absolutely.

3        All goodwill in the Assigned Rights  howsoever  arising shall accrue to
         Burberry.

4.       The  Assignor  covenants  with  Burberry  that it will execute all such
         further assignments,  transfers,  deeds,  documents or other assurances
         and do all further  acts and things as

                                       88
<PAGE>

         Burberry may require in order to become registered as the proprietor of
         any  registered   Assigned  Rights  and/or  to  become  the  legal  and
         beneficial owner of the Assigned Rights and otherwise to give effect to
         the terms of this Assignment.

5.       The  Assignor has  obtained  (and shall  deliver to Burberry on demand)
         from the authors of the items and  materials in which the  Intellectual
         Property  Rights subsist  absolute  waivers of any rights they may have
         and the Assignor hereby waives  absolutely any rights he may have to be
         identified  as the  author  of any such  items or  materials  and their
         respective rights to object to any derogatory  treatment thereof and so
         far as legally possible any broadly  equivalent rights they may have in
         any territory in the world.

6.       This Assignment  shall be subject to English Law and the parties submit
         to the exclusive jurisdiction of the English Courts.

In witness  whereof the parties  have  executed and  delivered  this Deed on the
above date

EXECUTED AND DELIVERED by          )

BURBERRY LIMITED                   )       .....................................

as a DEED by these signatures      )                     DIRECTOR

                                           .....................................

                                                      DIRECTOR/SECRETARY

EXECUTED AND DELIVERED by          )

[ASSIGNOR]                         )

as a DEED by these signatures      )
[NB SIGNATURES WILL VARY DEPENDING UPON LEGAL STATUS OF ASSIGNOR]
                                       89
<PAGE>

                            APPENDIX D: QUESTIONNAIRE

<TABLE>
<S>                                                                    <C>
-----------------------------------------------------------------------------------------------------------------------------------
BURBERRY ENVIRONMENTAL & SOCIAL RESPONSIBILITY QUESTIONNAIRE (TO BE COMPLETED ON
DISK AND PAPER BY LICENSEES & SUB-CONTRACTORS)
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
COMPANY NAME
-----------------------------------------------------------------------------------------------------------------------------------
NAME OF THE PARENT COMPANY (IF APPLICABLE)
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
FINISHED GOODS TO BE SUPPLIED TO INTER PARFUMS
-----------------------------------------------------------------------------------------------------------------------------------
                                                                                                Full Details of Item
-----------------------------------------------------------------------------------------------------------------------------------
Item 1
-----------------------------------------------------------------------------------------------------------------------------------
Item 2
-----------------------------------------------------------------------------------------------------------------------------------
Item 3
-----------------------------------------------------------------------------------------------------------------------------------
Item 4
-----------------------------------------------------------------------------------------------------------------------------------
Item 5
-----------------------------------------------------------------------------------------------------------------------------------
Item 6
-----------------------------------------------------------------------------------------------------------------------------------
Item 7
-----------------------------------------------------------------------------------------------------------------------------------
Item 8
-----------------------------------------------------------------------------------------------------------------------------------
Item 9
-----------------------------------------------------------------------------------------------------------------------------------
Item 10
-----------------------------------------------------------------------------------------------------------------------------------
.....  PLEASE  CONTINUE  LISTING IN THIS WAY IF THERE ARE MORE THAN 10
FINISHED PRODUCT / GOODS SUPPLIED...
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
Value of annual turnover (for the last financial year):
-----------------------------------------------------------------------------------------------------------------------------------
What  percentage of your business is  represented  by Burberry (or by
Burberry's licensee if you are completing this form as a sub-contractor):
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
MANAGEMENT CONTACT DETAILS
-----------------------------------------------------------------------------------------------------------------------------------
Contact for social monitoring purposes (name and title):
-----------------------------------------------------------------------------------------------------------------------------------
Mailing address:
-----------------------------------------------------------------------------------------------------------------------------------
E-mail address:
-----------------------------------------------------------------------------------------------------------------------------------
Telephone number:
-----------------------------------------------------------------------------------------------------------------------------------
Fax number:
-----------------------------------------------------------------------------------------------------------------------------------
Mobile:
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
Other relevant contacts (name and title):
-----------------------------------------------------------------------------------------------------------------------------------
Mailing address:
-----------------------------------------------------------------------------------------------------------------------------------
E-mail address:
-----------------------------------------------------------------------------------------------------------------------------------
Telephone number:
-----------------------------------------------------------------------------------------------------------------------------------
Fax number:
-----------------------------------------------------------------------------------------------------------------------------------
Mobile:
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
TRADE UNION DETAILS
-----------------------------------------------------------------------------------------------------------------------------------
Name of trade union represented:
-----------------------------------------------------------------------------------------------------------------------------------
Name of relevant contacts:
-----------------------------------------------------------------------------------------------------------------------------------
Contact telephone number:
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       90
<PAGE>

<TABLE>
<S>                                                                    <C>
-----------------------------------------------------------------------------------------------------------------------------------
Contact email address:
-----------------------------------------------------------------------------------------------------------------------------------
Contact fax number:
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
EMPLOYEE DETAILS                                                       Total              Female           Male
-----------------------------------------------------------------------------------------------------------------------------------
Admin/management
-----------------------------------------------------------------------------------------------------------------------------------
Factory workers
-----------------------------------------------------------------------------------------------------------------------------------
Other employees
-----------------------------------------------------------------------------------------------------------------------------------
Total
-----------------------------------------------------------------------------------------------------------------------------------
Number of employees living in accommodation provided for by the company
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
MATERIALS, PACKAGING & LABELLING
-----------------------------------------------------------------------------------------------------------------------------------
What percent of your packaging is done with :                          recycled materials ?
-----------------------------------------------------------------------------------------------------------------------------------
                                                                       recyclable materials ?
-----------------------------------------------------------------------------------------------------------------------------------
Does your company use the banned dyes or materials listed in your      Y/N
Contractor's Undertaking? If yes, please provide details
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
POLICY DOCUMENTARY INFORMATION                                         PROVIDED ?
-----------------------------------------------------------------------------------------------------------------------------------
Please provide copies of your health, safety and environment policy    Y/N
-----------------------------------------------------------------------------------------------------------------------------------
Please provide copies of employee related policies                     Y/N
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
DO YOU MANUFACTURE ?                                                   Y/N
-----------------------------------------------------------------------------------------------------------------------------------
If yes, please provide a list of all products manufactured for Burberry clearly marking which products contain
Burberry intellectual property                                         Y/N
-----------------------------------------------------------------------------------------------------------------------------------
Item 1
-----------------------------------------------------------------------------------------------------------------------------------
Item 2
-----------------------------------------------------------------------------------------------------------------------------------
Item 3
-----------------------------------------------------------------------------------------------------------------------------------
Item 4
-----------------------------------------------------------------------------------------------------------------------------------
Item 5
-----------------------------------------------------------------------------------------------------------------------------------
..... PLEASE CONTINUE LISTING IN THIS WAY IF MORE THAN 10 PRODUCTS ARE MANUFACTURED ...
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
Full name and address details of all factories (wholly owned by the Products (raw materials or finished goods)
manufactured at this No. of factory No. of company completing this form) manufacturing Burberry products
factory units at address accommodation including number of factory
units and number of accommodation facilities facilities at each
address at address
-----------------------------------------------------------------------------------------------------------------------------------
Factory 1
-----------------------------------------------------------------------------------------------------------------------------------
Factory 2
-----------------------------------------------------------------------------------------------------------------------------------
Factory 3
-----------------------------------------------------------------------------------------------------------------------------------
..... PLEASE CONTINUE LISTING IN THIS WAY IF MORE THAN 3 FACTORIES ...
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       91
<PAGE>

<TABLE>
<S>                                                                    <C>
-----------------------------------------------------------------------------------------------------------------------------------
Please provide a list of the countries from which you source raw       Raw materials supplied
materials
-----------------------------------------------------------------------------------------------------------------------------------
Jurisdiction 1
-----------------------------------------------------------------------------------------------------------------------------------
Jurisdiction 2
-----------------------------------------------------------------------------------------------------------------------------------
Jurisdiction 3
-----------------------------------------------------------------------------------------------------------------------------------
..... PLEASE CONTINUE LISTING IN THIS WAY IF RAW MATERIALS ARE SOURCED FROM MORE THAN 3 COUNTRIES...
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
Number of outworkers used :                                            (IF OUTWORKERS USED, PLEASE SPECIFY ACTIVITY OF
                                                                       EACH OUTWORKER)
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
Number of homeworkers used :                                           (IF HOMEWORKERS USED, PLEASE SPECIFY ACTIVITY OF
                                                                       EACH HOMEWORKER)
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
DO YOU USE SUB-CONTRACTORS ?                                           Y/N
-----------------------------------------------------------------------------------------------------------------------------------
IF YES, PLEASE PROVIDE DETAILS OF  SUB-CONTRACTORS  BY ENCLOSING THIS
FORM COMPLETED AND SIGNED BY EACH SUB-CONTRACTOR.

-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
WORKING WITH YOUR SUPPLIERS AND SUBCONTRACTORS                         DESCRIBE PROCEDURES HERE ...
-----------------------------------------------------------------------------------------------------------------------------------
Please  fully  describe the  procedures  you have adopted (if any) to
ensure that your  suppliers and  subcontractors  are  compliant  with
local  environmental,  health and safety and labour laws.  Attach any
relevant policy or procedure.

-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
I confirm, that the information provided fairly reflects our business
operations, practices and sourcing processes, and that we agree
to comply with  Burberry's  Environmental  and Social  Responsibility
Policy (as it may be amended by Burberry from time to time).
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
Signature :
-----------------------------------------------------------------------------------------------------------------------------------
Name (please print) :                                                                             Position :
-----------------------------------------------------------------------------------------------------------------------------------
Date :
-----------------------------------------------------------------------------------------------------------------------------------
The person  named  above  should be a company  director  or member of
senior management.
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                       92

<PAGE>
                     APPENDIX E: CODE OF BUSINESS PRINCIPLES

1.       CODE OF BUSINESS PRINCIPLES

1.1      Code

         The  following  Code of  Business  Principles  (the  "CODE")  has  been
         approved by the Board of Directors of the Company.

         THE COMPANY OPERATES IN MANY DIFFERENT MARKETS AND COUNTRIES THROUGHOUT
         THE WORLD.  IN ALL  INSTANCES,  WE RESPECT  NATIONAL  LAWS AND INDUSTRY
         CODES OF CONDUCT

o        We,  the  directors   and  employees  of  the  Company   recognise  our
         obligations to all with whom we have a business relationship  including
         shareholders, customers, employees, and suppliers;

o        Information  about our  business  shall be  communicated  clearly,  and
         accurately in a non-discriminatory  manner and in accordance with local
         regulations;

o        We believe that trust is a vital element in the  successful  conduct of
         the Company's  business and accordingly  all  information  provided and
         statements  made by any  employee  must be  truthful,  accurate and not
         misleading;

o        We select and promote  employees  on the basis of their  qualifications
         and  merit,  without  discrimination  or  concern  for race,  religion,
         national origin, colour, sex, sexual orientation, age or disability;

o        We do not employ a person who is an  Immediate  Relative of an employee
         unless such  employment  has been approved by the Board of Directors of
         the Company "Immediate Relative" means and includes spouse,  common law
         partner,   children,   brothers,   sisters,  cousins,  aunts,  parents,
         grandparents and the aforesaid relatives by marriage;

o        We believe that a workplace  should be safe and civilized;  we will not
         tolerate sexual  harassment or offensive  behaviour of any kind,  which
         includes the demeaning of  individuals  through words or actions or the
         display or distribution of offensive material;

o        We will treat all information relating to the Company's business, or to
         its customers, as confidential and confidential information must not be
         used for personal gain;

o        Insider  dealing,  whether in the  shares of any parent  company of the
         Company or any customer or supplier, is prohibited;

o        We  will  not  knowingly   create  work  which   contains   statements,
         suggestions or images offensive to general public decency;

o        We will not for direct or indirect personal gain directly or indirectly
         engage in any activity which  competes with companies  within the Group
         or with our obligations to any such company;

                                       93
<PAGE>

o        We will not offer any items of  personal  inducement  whether to secure
         business  or  otherwise.  This is not  intended  to  prohibit  business
         lunches or dinners or the  making of  occasional  gifts of minor  value
         (that is gifts of less than US$20 value)  unless the relevant  customer
         or a  supplier  or other  person  with whom we will  have a  commercial
         relationship  has a policy which  restricts  such  lunches,  dinners or
         gifts;

o        No director or employee of the Company will accept for personal benefit
         any goods or services  from  suppliers,  potential  suppliers  or other
         third parties;

o        We will not have any personal or family  conflicts of interest with our
         suppliers or other third parties with whom we do business;

o        No corporate  contributions  of any kind,  including  the  provision of
         services or materials  for less than the market  value,  may be made to
         any  governmental  or regulatory  authority or  politicians,  political
         parties or action committees, without the prior written approval of the
         agreement of all of the Company's shareholders;

o        We do not permit the  possession,  uses or  distribution of any illegal
         drugs, or use of any legal or controlled  drugs (or alcohol) other than
         in the manner for which they were  properly  approved  and  prescribed,
         while on the Company or customer  premises or conducting  the Company's
         business;

o        We do not permit the use of child or forced  labour by the  Company and
         we do not permit the purchase of products from any supplier or the sale
         of  products  to any  customer  whom we know or  suspect  uses child or
         forced labour in its business;

o        We do not permit the purchase of products from any supplier or the sale
         of  products  to any  customer  whom we know or  suspect  discriminates
         against its employees, suppliers or its customers (including consumers)
         on the basis of race,  religion,  national origin,  colour, sex, sexual
         orientation, age or disability.

o        We will comply with all applicable local laws and regulations including
         without  limitations  the laws of  Italy,  and any  other  laws with an
         international  reach,  including  (without  limitation)   import/export
         regulations and the US Foreign Corrupt Practices Act, where relevant;

o        No officer or employee of the Company  shall  conduct  themselves  in a
         manner which brings the Company into disrepute.

ACTUAL OR POTENTIAL  CONFLICTS WITH THIS CODE SHOULD BE REPORTED PROMPTLY TO THE
GENERAL COUNSEL OF BURBERRY LIMITED IN LONDON.

                                       94
<PAGE>

               APPENDIX F: ENVIRONMENTAL AND SOCIAL RESPONSIBILITY

                                       95
<PAGE>

                      Environmental & Social Responsibility
                  A guide to Burberry policy (Licensee Version)
                                       96
<PAGE>

                                    BURBERRY

                            PRIVATE AND CONFIDENTIAL

  This document contains details of Burberry's policy relating to Environmental

                           and Social Responsibility

 All licensees and their sub-contractors must familiarise themselves and comply
 with the contents of this document and ensure that its contents are passed to
                  all relevant parties in their organisations

                                       97
<PAGE>

        BURBERRY'S COMMITMENT TO ENVIRONMENTAL AND SOCIAL RESPONSIBILITY

INTRODUCTION

                                    This document covers:

                                    o  Burberry's    relationship    with    its
                                       Licensees

                                    o  Responsibilities on Ethical trading

                                    o  Packaging and waste regulations

                                    o  Materials and labelling

BURBERRY ENVIRONMENTAL POLICY

                                    Burberry's majority  shareholder is GUS. The
                                    company  shares the GUS  commitment  to be a
                                    good corporate citizen.

                                    Specifically, Burberry will:

                                    o  comply  with all  relevant  environmental
                                       legislation;

                                    o  measure    and    continually     improve
                                       performance  with  respect  to  its  main
                                       environmental   impacts   in   a   manner
                                       consistent     with    its     commercial
                                       objectives;

                                    o  report on the  environmental  impacts  of
                                       its  activities   and  progress   towards
                                       meeting its goals; and

                                    o  monitor  its   licensees'   environmental
                                       management arrangements.

                                    The  activities of Burberry  (manufacturing,
                                    distributing, retailing and licensing luxury
                                    clothes,  accessories  and other goods) lead
                                    to  a  number  of   environmental   impacts.
                                    Burberry's priorities are:

                                    o  managing and, where practicable, reducing
                                       the waste from operations;

                                    o  understanding   and,  where  practicable,
                                       reducing the volumes of packaging used;

                                    o  improving energy management; and

                                    o  monitoring licensees to ensure acceptable
                                       environmental performance.

                                       98
<PAGE>

                                    In each of  these  areas  Burberry  will set
                                    targets for itself,  its  licensees  and its
                                    suppliers and will measure performance.

                                    The  responsibility  for setting the targets
                                    and  agreeing  improvement  plans rests with
                                    the Burberry  Executive  (the  "Executive").
                                    Environmental   matters  are  the   specific
                                    responsibility   of  the   Chief   Operating
                                    Officer.    He   will    table   an   annual
                                    environmental  update to the Executive.  The
                                    Executive  will  review  this  policy  every
                                    year.

EXTERNAL COMMUNICATIONS

                                    The   Environmental   Policy   states   that
                                    Burberry  will  report on its  environmental
                                    impacts  and  progress  towards  meeting its
                                    goals. This is part of a wider communication
                                    to:

                                    o  Burberry's  customers,  so that  they are
                                       able to make informed purchase decisions;

                                    o  Burberry's  licensees and  suppliers,  so
                                       they can help us reach our goals; and

                                    o  the public and outside agencies,  so they
                                       understand that Burberry is a responsible
                                       company.

                                    The GUS  Environmental  Report  for  2001 is
                                    available   on  request  from  the   Quality
                                    Assurance Department within Burberry.

  LICENSEES

                                    Our  licensees  play  an  important  part in
                                    helping  Burberry  reach its goals.  They do
                                    this  by  ensuring  that  they  follow  good
                                    environmental and social practices.

                                    On  Burberry's  part,  Burberry  will openly
                                    share  relevant  environmental   information
                                    with its licensees including:

                                    o  its environmental concerns as responsible
                                       stakeholders;

                                    o  information  about  environmental  issues
                                       and legislation;

                                    o  industry   best   practices   and   other
                                       developments;

                                    o  specific  areas/issues  for  improvement;
                                       and

                                    o  Burberry's policy in respect of producing
                                       and    maintaining    clear    consistent
                                       user-friendly guidelines.

                                    Burberry  expects and demands high standards
                                    from all its licensees.
                                       99
<PAGE>

ETHICAL AND ENVIRONMENTAL STANDARDS

                                    Burberry  expects  all of its  licensees  to
                                    sign up to its  principles  and standards of
                                    conduct, as set out below.

PRINCIPLES OF CONDUCT

                                    As a  licensee  of  Burberry  we  share  its
                                    commitment   to   high   standards   in  the
                                    following areas:

                                    o  occupational safety and health;

                                    o  employee    welfare    including   labour
                                       standards  and  discrimination  policies;
                                       and

                                    o  minimising our impact on the environment.

STANDARDS OF CONDUCT

                                   Within  these  principles  we  operate to the
                                   following specific standards of conduct:

                                    1. we do not employ any person below the age
                                       of 15 or  below  the  legal  minimum  age
                                       (where  this is higher) in the  countries
                                       in which we operate;

                                    2. we do not use  forced  labour in any form
                                       (prison, indentured, bonded or otherwise)
                                       and  staff  are  not  required  to  lodge
                                       papers or deposits on starting work;

                                    3. we  have   written   health   and  safety
                                       guidelines and provide relevant  training
                                       for   employees.   We  comply   with  all
                                       applicable  local  environmental,  safety
                                       and health regulations;

                                    4. we  have  produced  or are  intending  to
                                       produce  within the next twelve months an
                                       environmental policy;

                                    5. within the customs and  practices  of the
                                       countries  in which we  operate we do not
                                       discriminate   against   any   worker  or
                                       officer  of the  company  on any  grounds
                                       (including race, religion, disability, or
                                       gender).  There are some  instances  when
                                       licensees  might  feel  that a degree  of
                                       discrimination     is     part    of    a
                                       jurisdiction's   culture  and   therefore
                                       Licensees  might  feel  that a degree  of
                                       discrimination   is  necessary   for  the
                                       effective  functioning  of the workplace.
                                       We  acknowledge  that  there  may be such
                                       cases,  although we  consider  this to be
                                       very much the  exception  rather than the
                                       rule. Where licensee companies think that
                                       this is the case,  we insist  that  their
                                       employment  policies  are explicit on the
                                       matter,   and  that  they   provide  full
                                       details  to us  in  writing  stating  the
                                       reasons behind their practice.  We do not
                                       engage in or support  the use of corporal
                                       punishment,  mental,  physical  sexual or
                                       verbal abuse;

                                      100
<PAGE>

                                    6. we provide  each  employee  with at least
                                       the  minimum  wage,  or  the   prevailing
                                       industry wage,  (whichever is higher) and
                                       provide  each  employee  with all legally
                                       mandated benefits;

                                    7. we  provide  one  day  off in  seven  and
                                       require no more than 60 hours of work per
                                       week, or comply with local limits if they
                                       are lower;

                                    8. we comply with all relevant environmental
                                       legislation  in the  regions  in which we
                                       operate.   We  have  identified  all  the
                                       hazardous or toxic waste we produce,  and
                                       are  confident  that it is disposed of by
                                       competent bodies via authorised  disposal
                                       routes; and

                                    9. we will  endeavour  to ensure that all of
                                       our  contractors  adopt these  principles
                                       themselves."

                                    Every  licensee of Burberry will be asked to
                                    indicate  their and  their  sub-contractors'
                                    current and continuing compliance with these
                                    principles  and  standards.  Some  licensees
                                    will  also  be  asked  to  complete  a  more
                                    detailed   questionnaire   explaining  their
                                    environmental and social practices.  We plan
                                    to   visit   our    licensees    and   their
                                    sub-contractors where appropriate as part of
                                    our licensee management programme.

                                    Burberry  recognises that its objectives can
                                    only  be   achieved   through   co-operation
                                    throughout the whole Supply Chain. Therefore
                                    Burberry  requires  all  its  licensees  and
                                    suppliers   to   endeavour  to  achieve  the
                                    following    objectives    in   respect   of
                                    packaging, materials and labelling:

     PACKAGING

                                    Minimising the amount of packaging  Burberry
                                    and its  licensees  and suppliers use is one
                                    of  the   priority   areas   identified   in
                                    Burberry's environmental policy.  Burberry's
                                    specific objectives are to:

                                    o  minimise the amount of packaging material
                                       used to  protect  merchandise  in storage
                                       and distribution, and in the presentation
                                       of the product to our customers;

                                    o  discourage/eliminate the use of all heavy
                                       metals  and other  materials  which  have
                                       significant  and/or  persistent  damaging
                                       impact on the  environment,  for  example
                                       chlorine-gas, bleach paper and cardboard;
                                       and

                                    o  increase  the   proportion   of  recycled
                                       material  we use  except  where  hygiene,
                                       safety  and   product   performance   are
                                       adversely affected.

                                    Effective  partnership  must  exist  between
                                    packaging suppliers,  product manufacturers,
                                    distributors  and Burberry and its licensees
                                    and suppliers.

                                      101
<PAGE>

                                    Burberry,  its licensees and suppliers  will
                                    endeavour to purchase  those  products  that
                                    minimise  energy,  usage and  other  adverse
                                    impacts on the environment.

                                    Burberry  recognises  the need for packaging
                                    materials  for the  purpose of  presentation
                                    and the  maintenance of product  quality and
                                    safety.

                                    Packaging must be of sufficient design, size
                                    and strength to protect  product  throughout
                                    the Supply Chain including transportation.

Materials and Labelling

                                    All  materials in any product and  packaging
                                    must meet all UK, EU and any other  relevant
                                    territory's, laws, standards, directives and
                                    regulations, codes of practice and decisions
                                    having the force of law.

                                    Burberry  prohibits  the use of Azo  dyes in
                                    its products.  In the case of doubt,  a full
                                    list of prohibited chemicals is available on
                                    request    from   the   Quality    Assurance
                                    Department within Burberry.

                                    Burberry asks that  licensees  make it aware
                                    of any  materials  in  products  that may be
                                    particularly      sensitive      from     an
                                    environmental/ethical  perspective. Examples
                                    of such materials might include:

                                    o  Animal  products,  including  fur,  bone,
                                       ivory,  shell or horn (excluding  leather
                                       from domestic cattle or pigs);

                                    o  Tropical or other hardwoods;

                                    o  Heavy  metals (e.g.  mercury,  cadmium or
                                       lead); and

                                    o  Organic    compounds     implicated    as
                                       carcinogens    or   persistent    organic
                                       pollutants.

                                    Burberry expects all products to be labelled
                                    accurately, and in accordance with the laws,
                                    standards    directives   and    regulations
                                    pertaining   in  the   UK,   the   EU,   the
                                    jurisdiction  of  sale,  and  in  any  other
                                    relevant territory.

                                    Where   appropriate    Burberry   encourages
                                    licensees to label packaging as recycled, or
                                    recyclable,  provided that such markings are
                                    consistent with the Burberry brand.

DEDICATED PERSONNEL

All  Licensees  shall  appoint  an  employee  who shall be  responsible  for the
implementation of this  Environmental and Social  Responsibility  Policy and the
name and  details of such  employee  should be  notified  to  Burberry  upon his
appointment and replacement from time to time.

                                      102
<PAGE>

                          APPENDIX G: BANNED SUBSTANCES

                                PRESCRIPTION LIST

LIST OF BANNED MATERIALS:
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
GROUP NAME        CAS NUMBER       NAMES
----------------------------------------------------------------------------------------------------------------------------
<S>               <C>              <C>
Aldehydes         50-00-0          Formaldehyde; Formalin; Methanal; Methyl aldehyde
----------------------------------------------------------------------------------------------------------------------------
Artificial Musks  Not available    Musk tibetene;  (2,6-dinitro-3,4,5-trimethyl-1-t.butylbenzene);  MT
----------------------------------------------------------------------------------------------------------------------------
Artificial Musks  Not available    Tonalide;  (7-acetyl-1,1,3,4,4,6-hexamethyl-1,2,3,4-tetrahydronaphthalene);  AHTN
----------------------------------------------------------------------------------------------------------------------------
Artificial Musks  Not available    Galaxolide; (1,3,4,6,7,8-hexahydro-4,6,6,7,8,8-hexamethylcyclopenta-2-benzopyran); HHCB
----------------------------------------------------------------------------------------------------------------------------
Azodyes           91-94-1          3,3'-dichlorobenzidine; 3,3'-dichlorobiphenyl-4,4'-ylenediamine
----------------------------------------------------------------------------------------------------------------------------
Azodyes           60-09-03         4-amino azobenzene
----------------------------------------------------------------------------------------------------------------------------
Azodyes           90-04-0          o-anisidine; 2-methoxyaniline
----------------------------------------------------------------------------------------------------------------------------
Azodyes           137-17-7         2,4,5-trimethylaniline
----------------------------------------------------------------------------------------------------------------------------
Azodyes           95-80-7          4-methyl-m-phenylenediamine
----------------------------------------------------------------------------------------------------------------------------
Azodyes           95-53-4          o-toluidine; 2-aminotoluene
----------------------------------------------------------------------------------------------------------------------------
Azodyes           139-65-1         4,4'-thiodianiline
----------------------------------------------------------------------------------------------------------------------------
Azodyes           101-80-4         4,4'-oxydianiline
----------------------------------------------------------------------------------------------------------------------------
Azodyes           120-71-8         6-methoxy-m-toluidine; p-cresidine
----------------------------------------------------------------------------------------------------------------------------
Azodyes           Not available    A mixture of: disodium (6-(4- anisidino)-3-sulfonato-2-(3,5- dinitro-2-oxidophenylazo)-
                                   1-naphtholato)(1- (5-chloro-2-oxidophenylazo)- 2-naphtholato)chromate(1-); trisodium
                                   bis(6-(4-anisidino)-3- sulfonato-2-(3,5-dinitro-2- oxidophenylazo)- 1-naphtholato)
----------------------------------------------------------------------------------------------------------------------------
Azodyes           119-90-4         3,3'-dimethoxybenzidine; o-dianisidine
----------------------------------------------------------------------------------------------------------------------------
Azodyes           101-14-4         4,4'-methylene-bis- (2-chloro-aniline); 2,2'-dichloro-4,4'-methylenedianiline
----------------------------------------------------------------------------------------------------------------------------
Azodyes           101-77-9         4,4'-methylenedianiline; 4,4'-diaminodiphenylmethane
----------------------------------------------------------------------------------------------------------------------------
Azodyes           615-05-4         4-methoxy-m-phenylenediamine
----------------------------------------------------------------------------------------------------------------------------
Azodyes           106-47-8         4-chloroaniline
----------------------------------------------------------------------------------------------------------------------------
Azodyes           99-55-8          5-nitro-o-toluidine
----------------------------------------------------------------------------------------------------------------------------
Azodyes           97-56-3          o-aminoazotoluene; 4-amino-2',3 dimethylazobenzene; 4-o-tolylazo-o toluidine
----------------------------------------------------------------------------------------------------------------------------
Azodyes           91-59-8          2-naphthylamine
----------------------------------------------------------------------------------------------------------------------------
Azodyes           95-69-2          4-chloro-o-toluidine
----------------------------------------------------------------------------------------------------------------------------
Azodyes           92-87-5          Benzidine
----------------------------------------------------------------------------------------------------------------------------
Azodyes           92-67-1          biphenyl-4-ylamine, 4-aminobiphenyl, xenylamine
----------------------------------------------------------------------------------------------------------------------------
Azodyes           119-93-7         3,3'-dimethylbenzidine; 4,4'-bi-o-toluidine
----------------------------------------------------------------------------------------------------------------------------
Azodyes           Not available    trisodium bis(6-(4-anisidino)-3- sulfonato-2-(3,5-dinitro-2- oxidophenylazo)-
                                   1-naphtholato)chromate(1-) (C46H30CrN10O20S  2.3Na )
----------------------------------------------------------------------------------------------------------------------------
Azodyes           118685-33-9      disodium (6-(4- anisidino)-3-sulfonato-2-(3,5- dinitro-2-oxidophenylazo)-
                                   1-naphtholato)(1- (5-chloro-2-oxidophenylazo)- 2-naphtholato)chromate(1-);
                                   (C39H23ClCrN7O12S.2Na )

----------------------------------------------------------------------------------------------------------------------------
Azodyes           838-88-0         4,4'-methylenedi-o-toluidine
----------------------------------------------------------------------------------------------------------------------------
Brominated        545-55-1         Tris-(aziridinyl)-phosphine oxide (TEPA); Aziridine, 1,1',1' - phosphinylidynetris;
Flame Retardants                   Triethylenephosphoramide; Triethylenephosphorotriamide; Tris(1-aziridinyl) phosphine
                                   oxide
----------------------------------------------------------------------------------------------------------------------------
</TABLE>
                                      103
<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
GROUP NAME        CAS NUMBER       NAMES
----------------------------------------------------------------------------------------------------------------------------
<S>               <C>              <C>
Brominated        126-72-7         1-Propanol, 2,3-dibromo-, phosphate (3:1); Tris(2,3-dibromopropyl) phosphate; TRIS;
Flame Retardants                   Tris(2,3-dibromo-1 propyl) phosphate; Dibromopropyl phosphate, tris, 2,3-;
                                   Tris(2,3-Dibromopropyl) phosphate
----------------------------------------------------------------------------------------------------------------------------
Brominated        Group of         Polybrominated biphenyls; PBBs; PBDE; Firemaster.
Flame Retardants  Compounds
----------------------------------------------------------------------------------------------------------------------------
CFCs              Group of         Chlorofluorocarbons, CFCs
                  Compounds
----------------------------------------------------------------------------------------------------------------------------
Chlorinated       87-86-5          Pentachlorophenol; Phenol, pentachloro- ; Pentrachlorophenol;
Phenols                            PCP; Santophen 20; Penta
----------------------------------------------------------------------------------------------------------------------------
Halogenated       75-01-4          Vinyl chloride
Organics

----------------------------------------------------------------------------------------------------------------------------
Halogenated       67-66-3          Methane, trichloro- ; Chloroform; Trichloromethane; Methyl trichloride
Organics

----------------------------------------------------------------------------------------------------------------------------
Halogenated       75-09-2          Methane, dichloro- ; Methylene chloride; Dichloromethane;  Methylene Chloride;
Organics                           Methylene dichloride;
                                   Freon 30.

----------------------------------------------------------------------------------------------------------------------------
Halogenated       97-18-7          Phenol, 2,2'-thiobis[4,6-dichloro-; Phenol, 2,2'-thiobis(4,6-
Organics                           dichloro)-; 2,2'-Thiobis(4,6-dichlorophenol); Phenol, 2,2'-thiobis(4,6-dichloro-;
                                   Bithionol; Thiodichlorophenol, 2,2'-, bis[4,6-;
                                   2,2'-Dihydroxy-3,3',5,5'-tetrachlorodiphenyl sulfide; 2,2'-Dih
----------------------------------------------------------------------------------------------------------------------------
Halogenated       935-95-5         Phenol; 2,3,5,6-tetrachloro-; 2,3,5,6-Tetrachlorophenol;
Organics                           Tetrachlorophenol, 2,3,5,6-
----------------------------------------------------------------------------------------------------------------------------
Halogenated       1154-59-2        Benzamide, 3,5-dichloro-N-(3,4-dichlorophenyl)-2-hydroxy-; Tetrachlorosalicylanilide;
Organics                           3,3',4',5-Tetrachlorosalicylanilide;
                                   3,5-Dichlorosalicyl-3,4-dichloroanilide; Irgasan BS-200; TCSA
------------------------------------------------------------------------------------------------------------------------------
Halogenated       70-30-4          Phenol, 2,2'-methylenebis
Organics                           [3,4,6-trichloro- ; Hexachlorophene ; Phenol, 2,2'-methylenebis
                                   [3,4,6- trichloro- ; Phenol, 2,2'-methylenebis
                                   (3,4,6-trichloro- ; Nabac ; 2,2'-Methylenebis(3,4,6-
                                   trichlorophenol);  2,2'-Dihydroxy-3,3'5,5',6,6'-
                                   hexachlorod
----------------------------------------------------------------------------------------------------------------------------
Halogenated       3380-34-5        Triclosan; Phenol, 5-chloro-2-(2,4-dichlorophenoxy)-;
Organics                           2,4,4'-Trichloro-2'-hydroxydiphenyl      ether;
                                   5-Chloro-2-(2,4-dichlorophenoxy)phenol;
                                   CH-3565; Irgasan DP-300; Lexol 300.

----------------------------------------------------------------------------------------------------------------------------
Metals            7440-67-7        Zirconium, Zr
----------------------------------------------------------------------------------------------------------------------------
Metals            7439-97-6        Mercury, Quicksilver
----------------------------------------------------------------------------------------------------------------------------
Nitro Musks       83-66-9          Musk ambrette, Benzene, 1-(1,1-dimethylethyl) -2-methoxy-4-methyl-3,5- dinitro-
----------------------------------------------------------------------------------------------------------------------------
Nitro Musks       81-14-1          Musk ketone; Ethanone, 1-[4-(1,1-dimethylethyl)-2,6-dimethyl-3,5-dinitrophenyl]-;
                                   Acetophenone, 4'-tert-butyl-2',6'-dimethyl-3',5'-dinitro-
                                   -3,5-dimethyl-2,4,6-trinitro-; m-Xylene, 5-tert-butyl-2,4,6-
                                   trinitro-

----------------------------------------------------------------------------------------------------------------------------
Nitro Musks       81-15-2          Musk xylene; Benzene, 1-(1,1-dimethylethyl)
                                   -3,5-dimethyl-2,4,6-trinitro-; m-Xylene, 5-tert-butyl-2,4,6-
                                   trinitro-

----------------------------------------------------------------------------------------------------------------------------
Nitrosamines      Group of         Nitrosamines.
                  Compounds

----------------------------------------------------------------------------------------------------------------------------
NPEs/APEs         25154-52-3       Nonylphenol; NP
----------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                      104
<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
GROUP NAME        CAS NUMBER       NAMES
----------------------------------------------------------------------------------------------------------------------------
<S>               <C>              <C>
NPEs/APEs         67554-50-1       Octylphenol, Octylphenol ethoxylates

----------------------------------------------------------------------------------------------------------------------------
NPEs/APEs         9016-45-9        Nonylphenol ethoxylate; NPEs

----------------------------------------------------------------------------------------------------------------------------
Organic Solvents  111-15-9         Ethoxyethanol acetate
----------------------------------------------------------------------------------------------------------------------------
Organic Solvents  123-91-1         1,4-Dioxane; Dioxane; 1,4-Diethyleneoxide; p-Dioxane; Diethylene ether;
                                   1,4-Diethylenedioxide;  Dioxane,  1,4-;
                                   1,4-Diethylene  dioxide;  1,4-Diethylene oxide;
                                   para-Dioxane
----------------------------------------------------------------------------------------------------------------------------
Organic Solvents  109-86-4         Methoxyethanol

----------------------------------------------------------------------------------------------------------------------------
Organic Solvents  110-80-5         Ethoxyethanol

----------------------------------------------------------------------------------------------------------------------------
Organic Solvents  110-49-6         Methoxyethanol acetate
----------------------------------------------------------------------------------------------------------------------------
Organics          Not available    Acetylethyltetramethyltetralin, AETT
----------------------------------------------------------------------------------------------------------------------------
Organics          92-48-8          2H-1-Benzopyran-2-one, 6-methyl-; 6-Methylcoumarin; Coumarin, 6-methyl-;
                                   Methylcoumarin, 6-
----------------------------------------------------------------------------------------------------------------------------
Organotins        688-73-3         Tributyltin, Related compounds include: bis (tributyltin) oxide (CAS number 56-35-9);
                                   Dibutyltin DBT;  Triphenyltin  TPT;  Dioctyltin
                                   DOT;   Monooctyltin   MOT;   Tributyltin   TBT;
                                   Monobutyltin MBT; Tetrabutyltin TeBT
----------------------------------------------------------------------------------------------------------------------------
Phthalates        84-74-2          DBP; Dibutyl phthalate
----------------------------------------------------------------------------------------------------------------------------
Phthalates        28553-12-0       DINP; di-isononyl phthalate
----------------------------------------------------------------------------------------------------------------------------
Phthalates        117-81-7         DNOP; dioctyl phthalate
----------------------------------------------------------------------------------------------------------------------------
Phthalates        26761-40-0       DIDP; di-isodecyl phthalate
----------------------------------------------------------------------------------------------------------------------------
Phthalates        85-68-7          BBP; benzyl butyl phthalate
----------------------------------------------------------------------------------------------------------------------------
Phthalates        84-61-7          DCHP; dicyclohexyl phthalate
----------------------------------------------------------------------------------------------------------------------------
Phthalates        84-66-2          DEP; Diethyl phthalate; 1,2-Benzenedicarboxylic acid; diethyl ester; Diethyl phthalate;
                                   Phthalic acid, diethyl ester; Ethyl phthalate
----------------------------------------------------------------------------------------------------------------------------
Phthalates        117-81-7         DEHP; Di-(2-ethylhexyl) phthalate; Bis(2-ethylhexyl) phthalate
----------------------------------------------------------------------------------------------------------------------------
Phthalates        131-11-3         DMP; dimethyl phthalate
----------------------------------------------------------------------------------------------------------------------------
Plastics          80-05-7          Bisphenol-A; BPA; Phenol, 4,4'-(1-methylethylidene)bis-; Bisphenol A;
Intermediates                      4,4-Isopropylidenediphenol; Phenol, 4,4'-isopropylidenedi-;
                                   4,4'-Isopropylidenediphenol; Bisphenol A (.alpha.)
----------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                      105
<PAGE>

                        SCHEDULE 1: LICENSED TRADE MARKS

                                      106
<PAGE>

                  BURBERRY'S TRADE MARKS - CLASS 3 - REGISTERED

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID   REGISTERED OWNER     COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>    <C>                  <C>          <C>               <C>    <C>         <C>           <C>         <C>
2373   Burberry Limited     Algeria      BURBERRY          3      001073      058605        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                              17-Jun-2000   17-Jun-2000
2392   Burberry Limited     Algeria      Burberry Check    3      001074      58606         REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                              17-Jun-2000   17-Jun-2000
31322  Burberry Limited     Algeria      BURBERRYS         3      516         61437         REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                              28-Sep-1981
2396   Burberry Limited     Algeria      Equestrian Knight 3      001075      58607         REG         Class 3: Non-medicated
                                         Device                                                         toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                              17-Jun-2000   17-Jun-2000
</TABLE>

                                       107
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID   REGISTERED OWNER     COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>    <C>                  <C>          <C>               <C>    <C>         <C>           <C>         <C>
2552   Burberry Limited     Andorra      BURBERRY          3      14.672      14.666        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                              25-May-2000
2566   Burberry Limited     Andorra      Burberry Check    3      14.674      14.669        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                              26-May-2000
2553   Burberry Limited     Andorra      Equestrian Knight 3      14.673      14.664        REG         Class 3: Non-medicated
                                         Device                                                         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                              25-May-2000
33099  Burberry Limited     Argentina    BURBERRY          3                  1548088       REG         Perfumery, essential oils,
                                                                                                        cosmetics; toilet products
                                                                                                        including toilet soaps, hair
                                                                                                        lotions, dentifrices, nail
                                                                                                        files of paper or emery
                                                                                                        cloth, deodorants and
                                                                                                        anti-perspirants for
                                                                                                        personal use.

54343  Burberry Limited     Argentina    BURBERRY CHECK    3      1966335     1581003       REG         Perfumery, essential oils,
                                                                                                        cosmetics; toilet products,
                                                                                                        including toilet soaps; hair
                                                                                                        lotions; dentifrices; nail
                                                                                                        files of paper or emery
                                                                                                        cloth; deodorants and
                                                                                                        anti-perspirants for
                                                                                                        personal use.

34082  Burberry Limited     Argentina    BURBERRYS         3      1700788     1827258       REG         All the goods in the class.
                                                                              27-Dec-1989
</TABLE>
                                       108
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID   REGISTERED OWNER     COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>    <C>                  <C>          <C>               <C>    <C>          <C>          <C>         <C>
36667  Burberry Limited     Argentina    EQUESTRIAN KNIGHT 3      1841006      1485419      REG         All goods in this class.
                                         Device

                                                                  05-May-1992  30-Nov-1993
33079  Burberry Limited     Argentina    PRORSUM Label     3                   1456660      REG         Perfumery, essential oils,
                                                                                                        cosmetics; toilet products
                                                                                                        including toilet soaps; hair
                                                                                                        lotions; dentifrices; nail
                                                                                                        files of paper or emery
                                                                                                        cloth; deodorants and
                                                                                                        anti-perspirants for
                                                                                                        personal use.

41564  Burberry Limited     Armenia      BURBERRYS         3      950167       3413         REG         Cosmetics (without-medicated
                                                                                                        additives); perfumes and
                                                                                                        perfumery products; soaps;
                                                                                                        essential oils; teeth and
                                                                                                        hair care preparations;
                                                                                                        shampoos; talcum powder;
                                                                                                        powder; bath foam; bath gel;
                                                                                                        shower gel;
                                                                                                        anti-perspirants;
                                                                                                        deodorants; deodorant
                                                                                                        sticks; toilet water; eau de
                                                                                                        cologne; eau de cologne
                                                                                                        spray; oil mist spray;
                                                                                                        shaving lotions; after shave
                                                                                                        lotions and emulsions,
                                                                                                        pre-shave lotions; shaving
                                                                                                        creams; shaving foams;
                                                                                                        shaving soaps, skin cream,
                                                                                                        anti-wrinkle cream;
                                                                                                        skin-moisturisers,
                                                                                                        moisture-creams; anti-aging
                                                                                                        eye balm; night cream; day
                                                                                                        cream; hand cream; body
                                                                                                        moisturisers; cleansing
                                                                                                        cream, depilatories; after
                                                                                                        shave preparations against
                                                                                                        skin irritation; sun tan
                                                                                                        lotions, oils, sprays and
                                                                                                        gels, bronzing lotions, oil
                                                                                                        mists and gels; oil free
                                                                                                        tanning mist, after sun
                                                                                                        moisturisers; protectors
                                                                                                        against ultra sun rays.
                                                                  20-Nov-1995  24-Jul-1998
30356  Burberry Limited     Australia    BURBERRY          3      530991       A530991      REG         All goods in this class
                                                                                                        including non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  21-Mar-1990  21-Mar-1990
2149   Burberry Limited     Australia    Burberry Check    3      824600       824600       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  23-Feb-2000     08-May-2001
</TABLE>

                                      109
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID   REGISTERED OWNER     COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>    <C>                  <C>          <C>               <C>    <C>          <C>          <C>         <C>
30363  Burberry Limited     Australia    EQUESTRIAN KNIGHT 3      531211       A531211      REG         All goods included in this
                                         Device                                                         class including
                                                                                                        non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations for
                                                                                                        the teeth included in this
                                                                                                        class and cosmetic
                                                                                                        preparations for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants,
                                                                                                        eau-de-cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  22-Mar-1990  22-Mar-1990
31453  Burberry Limited     Austria      BURBERRY          3                   90439        REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations, soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                               09-Feb-1979
45472  Burberry Limited     Austria      BURBERRY CHECK    3      AM917/95     159829       REG         Class 3: Cosmetics and
                                                                                                        cleaning preparations.

                                                                  17-Feb-1995  14-Sep-1995
31452  Burberry Limited     Austria      BURBERRYS         3                   90438        REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations, soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.
                                                                               09-Feb-1979
40569  Burberry Limited     Azerbaijan   BURBERRYS         3      94.0817      981249       REG         Non-medicated toilet
                                                                                                        preparations; cosmetics;
                                                                                                        perfumes, perfumery, soaps,
                                                                                                        essential oils, preparations
                                                                                                        for the teeth and hair;
                                                                                                        shampoos; talc, dusting
                                                                                                        powder, bath foam, bath gel,
                                                                                                        shower gel;
                                                                                                        anti-perspirants,
                                                                                                        deodorants, deodorant
                                                                                                        sticks; toilet water, eau de
                                                                                                        toilette, cologne, cologne
                                                                                                        spray, oil mist spray;
                                                                                                        shaving lotion, after shave,
                                                                                                        after shave emulsion,
                                                                                                        pre-shave lotion, shaving
                                                                                                        cream, shaving foam, shaving
                                                                                                        soap, skin creams,
                                                                                                        anti-wrinkle creams,
                                                                                                        moisturisers, moisture
                                                                                                        cream, anti-ageing eye balm,
                                                                                                        night cream, day cream, hand
                                                                                                        cream, body moisturiser,
                                                                                                        cleansing cream,
                                                                                                        depilatories, razor burn
                                                                                                        soother, sun tan lotions,
                                                                                                        oils, sprays, mists and
                                                                                                        gels, bronzing oil mist, oil
                                                                                                        free tanning mist, bronzing
                                                                                                        gels, mists and sprays,
                                                                                                        after sun moisturiser, self
                                                                                                        tanning lotions, ultra sun
                                                                                                        block.
                                                                               08-Sep-1994  27-Jul-1998
</TABLE>

                                      110
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID   REGISTERED OWNER     COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>    <C>                  <C>          <C>               <C>    <C>          <C>          <C>         <C>
2487   Burberry Limited     Bahrain      BURBERRY          3      1705/2000    28044        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  26-Jul-2000  26-Jul-2002
2500   Burberry Limited     Bahrain      Burberry Check    3      1708/2000    28047        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  26-Jul-2000  26-Jul-2000
54542  Burberry Limited     Bahrain      BURBERRYS         3      446/97       21833        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri;
                                                                                                        all included in Class 3.

                                                                  31-Mar-1997  31-Mar-1997
2493   Burberry Limited     Bahrain      Equestrian Knight 3      1709/2000    28048        REG         Class 3: Non-medicated
                                         Device                                                         toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  26-Jul-2000  26-Jul-2000
2515   Burberry Limited     Bahrain      PRORSUM           3      1710/2000    28049        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  26-Jul-2000  26-Jul-2000
2350   Burberry Limited     Barbados     BURBERRY          3      81/9842      81/9842      REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  27-Jun-2000  30-May-2001
2372   Burberry Limited     Barbados     Burberry Check    3                   81/15717     REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-May-2000  25-Jul-2001
</TABLE>
                                      111
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID   REGISTERED OWNER     COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>    <C>                  <C>          <C>               <C>    <C>          <C>          <C>         <C>
40570  Burberry Limited     Belarus      BURBERRYS         3      2764-03      5898         REG         Soaps, perfumery, scents,
                                                                                                        eau de toilette, eau de
                                                                                                        Cologne, deodorants for
                                                                                                        personal use, essential
                                                                                                        oils, oils for scents,
                                                                                                        cosmetics (without medicinal
                                                                                                        additions), shaving
                                                                                                        preparations, antiseptics to
                                                                                                        be used when shaving,
                                                                                                        depilatories, cosmetic
                                                                                                        preparations for baths,
                                                                                                        talc, powder, cosmetic
                                                                                                        preparations for skin care,
                                                                                                        skin creams, sun-tan
                                                                                                        cosmetics, hair lotions,
                                                                                                        shampoos, dentifrices.

                                                                  09-Jun-1994  12-Mar-1997
31675  Burberry Limited     Benelux      BURBERRY          3                   344477       REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations, soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                               08-Oct-1976
31680  Burberry Limited     Benelux      BURBERRY CHECK    3      624442       351957       REG         Class 3 - Toilet
                                                                                                        preparations and toilet
                                                                                                        articles belonging to this
                                                                                                        class; perfumes,
                                                                                                        perfumeries; cosmetics,
                                                                                                        soaps, preparations for
                                                                                                        mouth and teeth care, hair
                                                                                                        care preparations.

                                                                               16-May-1978
31686  Burberry Limited     Benelux      BURBERRY CHECK    3                   397701       REG         Class 3 - Toilet
                                         (blue)                                                         preparations and articles,
                                                                                                        as far as not falling in
                                                                                                        other classes; perfumes and
                                                                                                        perfumery, cosmetics, soaps,
                                                                                                        preparations for care of the
                                                                                                        teeth, oral cavity and hear.

                                                                               21-Jun-1984
</TABLE>
                                      112
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID   REGISTERED OWNER     COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>    <C>                  <C>          <C>               <C>    <C>          <C>          <C>         <C>
31679  Burberry Limited     Benelux      BURBERRYS         3      627339       355157       REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations, soaps; toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.
                                                                  17-Nov-1978  17-Nov-1978
2351   Burberry Limited     Bermuda      BURBERRY          3      32787        32787        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  03-Jan-2001  03-Jan-2001
2374   Burberry Limited     Bermuda      Burberry Check    3      32790        32790        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  03-Jan-2001  03-Jan-2001
31708  Burberry Limited     Bolivia      BURBERRYS         3                   58502A       REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations, soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.
                                                                  27-Jun-1980  30-Jan-1981
43616  Burberry Limited     Brazil       BURBERRYS         3      818342730    818342730    REG         Non-medicated toilet
                                                                                                        preparations; cosmetics;
                                                                                                        perfumes, perfumery, soaps,
                                                                                                        essential oils, preparations
                                                                                                        for the teeth and hair;
                                                                                                        shampoos; talc, dusting
                                                                                                        powder, bath foam, bath gel,
                                                                                                        shower gel;
                                                                                                        anti-perspirants,
                                                                                                        deodorants, deodorant
                                                                                                        sticks; eau de toilette,
                                                                                                        toilet water, cologne,
                                                                                                        cologne spray, oil mist
                                                                                                        spray; shaving lotion, after
                                                                                                        shave, after shave emulsion,
                                                                                                        pre-shave lotion, shaving
                                                                                                        cream, shaving foam, shaving
                                                                                                        soap, skin creams,
                                                                                                        anti-wrinkle creams,
                                                                                                        moisturisers, moisture
                                                                                                        cream, anti-ageing eye balm,
                                                                                                        body moisturiser, razor burn
                                                                                                        soother, bronzing gel.

                                                                  07-Mar-1995  22-Apr-1997
31743  Burberry Limited     Brazil       PRORSUM Label     3      23730-80     800237307    REG         Perfumery and hygiene
                                                                                                        products, and toiletry
                                                                                                        articles in general.

                                                                  26-Aug-1980  26-Aug-1980
</TABLE>
                                      113
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID   REGISTERED OWNER     COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>    <C>                  <C>          <C>               <C>    <C>         <C>           <C>         <C>
2567   Burberry Limited     Bulgaria     BURBERRY          3      50441        40549        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  14-Jun-2000  09-Oct-2001
2569   Burberry Limited     Bulgaria     Burberry Check    3      50442        41252        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  14-Jun-2000  14-Jan-2002
2568   Burberry Limited     Bulgaria     Equestrian Knight 3      50440        40253        REG         Class 3: Non-medicated
                                         Device                                                         toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  14-Jun-2000  10-Jul-2001
31750  Burberry Limited     Canada       BURBERRY          3      109603       40313        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.
                                                                               28-Jul-1926
2379   Burberry Limited     Canada       Burberry Check    3      1075218      TMA590,925   REG         Non-medicated toilet
                                                                                                        preparations, namely eau de
                                                                                                        perfume, eau de toilette and
                                                                                                        shower gel, perfumes, soaps,
                                                                                                        shampoos, and shaving
                                                                                                        preparations, namely
                                                                                                        after-shaves. non-medicated
                                                                                                        toilet preparations;
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils for
                                                                                                        personal use, shaving
                                                                                                        preparations and pot pourri.
                                                                                                        Anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  15-Sep-2000  29-Sep-2003
</TABLE>
                                      114
<PAGE>
              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID   REGISTERED OWNER     COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>    <C>                  <C>          <C>               <C>    <C>          <C>          <C>         <C>
31754  Burberry Limited     Canada       BURBERRYS         3      509902       295769       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  26-Sep-1983  05-Oct-1984
34952  Burberry Limited     Canada       EQUESTRIAN KNIGHT 3      704983       471453       REG         Non-medicated toilet
                                         Device                                                         preparations, namely, eau de
                                                                                                        parfum spray, body
                                                                                                        moisturiser, body cream,
                                                                                                        bath gel and dusting powder,
                                                                                                        perfumes, and soaps.

                                                                  12-May-1992  21-Feb-1997
2356   Burberry Limited     Cayman       BURBERRY          3      2225986      2225986      REG         Class 3: Non-medicated
                            Islands                                                                     toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  15-Mar-2000  15-Mar-2000
</TABLE>
                                      115
<PAGE>
              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2381    Burberry Limited    Cayman       Burberry Check    3      2225922      2225922      REG         Class 3: Non-medicated
                            Islands                                                                     toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  15-Mar-2000  15-Mar-2000
2431    Burberry Limited    Chile        BURBERRY          3      488853       580030       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  05-Jun-2000  24-Oct-2000
2470    Burberry Limited    Chile        Burberry Check    3      488865       579701       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  05-Jun-2000  20-Oct-2000
31766P1 Burberry Limited    Chile        BURBERRYS         3      72224        368249       REG         Toilette preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations; soaps,
                                                                                                        toilette preparations for
                                                                                                        the teeth and for the hair

                                                                  17-Jun-1980  08-May-1981
31766   Burberry Limited    Chile        BURBERRYS         3      72224        598742       REG         Toilette preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations; soaps,
                                                                                                        toilette preparations for
                                                                                                        the teeth and for the hair

                                                                  17-Jun-1980  08-May-1981
</TABLE>
                                      116
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2443    Burberry Limited    Chile        Equestrian Knight 3      488863       579700       REG         Class 3: Non-medicated
                                         Device                                                         toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  05-Jun-2000  20-Oct-2000
31762   Burberry Limited    Chile        PRORSUM Label     3      171.106      370051       REG         Toilette preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations; soaps,
                                                                                                        toilette preparations for
                                                                                                        teeth and hair.

                                                                  21-Mar-1991  18-Jun-1991
2209/
WP-CN   Burberry Limited    China        BURBERRY          3      733385       733385       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.
                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      117
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2211/
WP-CN   Burberry Limited    China        Burberry Check    3      732879       7321879      REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2002
2210/
WP-CN   Burberry Limited    China        Equestrian Knight 3      732707       732707       REG         Class 3: Non-medicated
                                         Device                                                         toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      118
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2014    Burberry Limited    China        PRORSUM           3      9900078148   1446247      REG         Cakes of toilet soap; facial
                                                                                                        cleanser; liquid soap
                                                                                                        product; perfumes eaux de
                                                                                                        cologne; toilet waters;
                                                                                                        essential oils; toothpaste;
                                                                                                        polishes (denture); hair
                                                                                                        oil; hair dyes; waving
                                                                                                        preparations for the hair;
                                                                                                        soap; shampoos; Shampoos for
                                                                                                        pets; antiperspirants
                                                                                                        (toiletries); deodorants for
                                                                                                        personal use; shaving
                                                                                                        preparations; pot pourri.

                                                                  07-Jul-1999  21-Sep-2000
2007    Burberry Limited    China        PRORSUM           3      9900078148   1446274      REG         cakes of toilet soap; facial
                                                                                                        cleanser; liquid soap
                                                                                                        product; perfumes; eaux de
                                                                                                        cologne; toilet waters;
                                                                                                        essential oils; toothpaste;
                                                                                                        polishes (denture); hair
                                                                                                        oil; hair dyes; waving
                                                                                                        prepartions for the hair;
                                                                                                        soap; shampoos; shampoos for
                                                                                                        pets; antiperspirants
                                                                                                        (toiletries); deodorants for
                                                                                                        personal use; shaving
                                                                                                        preparations; pot pourri

                                                                  07-Jul-1999  21-Sep-2000
2432    Burberry Limited    Colombia     BURBERRY          3      00038303     233228       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  24-May-2000  16-Feb-2001
2471    Burberry Limited    Colombia     Burberry Check    3      00044677     2341113      REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  15-Jun-2000  20-Apr-2001
33608  Burberry Limited     Colombia     BURBERRYS         3      290413       135810       REG         Bleaching preparations and
                                                                                                        other substances for laundry
                                                                                                        use; cleaning, polishing,
                                                                                                        scouring and abrasive
                                                                                                        preparations; soaps;
                                                                                                        perfumery, essential oils,
                                                                                                        cosmetics, hair lotions and
                                                                                                        dentifrices.

                                                                               16-Aug-1991
2444    Burberry Limited    Colombia     Equestrian Knight 3      00042764     233918       REG         Class 3: Non-medicated
                                         Device                                                         toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  08-Jun-2000  20-Apr-2001
33182   Burberry Limited    Colombia     PRORSUM Label     3      307131       143256       REG         Bleaching preparations and
                                                                                                        other substances for laundry
                                                                                                        use; cleaning, polishing,
                                                                                                        scouring and abrasive
                                                                                                        preparations; soaps;
                                                                                                        perfumery, essential oils,
                                                                                                        cosmetics, hair lotions and
                                                                                                        dentifrices.

                                                                  09-Aug-1989  13-Jul-1993
</TABLE>
                                      119
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2433    Burberry Limited    Costa Rica   BURBERRY          3                   748-7989     REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  31-May-2000  13-Mar-2001
2472    Burberry Limited    Costa Rica   Burberry Check    3                   784-7989     REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  31-May-2000  14-Mar-2001
31780   Burberry Limited    Costa Rica   BURBERRYS         3                   60432        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                               26-Mar-1982
2445    Burberry Limited    Costa Rica   Equestrian Knight 3                   752-7989     REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  31-May-2000  13-Mar-2001
31771   Burberry Limited    Costa Rica   PRORSUM Label     3                   58691        REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations, soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and the hair.

                                                                  08-Aug-1980  29-Apr-1981
2570    Burberry Limited    Croatia      BURBERRY          3      Z 20000957A  Z20000957    REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  30-Jun-2000  10-Sep-2001
2576    Burberry Limited    Croatia      Burberry Check    3      Z20000960A   Z20000960    REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  30-Jun-2000  11-Sep-2001
2575    Burberry Limited    Croatia      Equestrian Knight 3      Z 20000963A  Z20000963    REG         Class 3: Non-medicated
                                         Device                                                         toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  30-Jun-2000  10-Sep-2001
</TABLE>
                                      120
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2209/
WP-CU   Burberry Limited    Cuba         BURBERRY          3      733385       733385       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  25-Apr-2000  25-Apr-2000
2211/
WP-CU   Burberry Limited    Cuba         Burberry Check    3      732879       732879       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      121
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2210/
WP-CU   Burberry Limited    Cuba         Equestrian Knight 3      732707       732707       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
31785   Burberry Limited    Cuba         PRORSUM Label     3      219204       113610       REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                  03-Nov-1980  28-Apr-1983
31793   Burberry Limited    Cyprus       BURBERRYS         3                   21601        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eaux de
                                                                                                        cologne and toilet water.

                                                                  10-Jun-1981  08-Jun-1981
31806   Burberry Limited    Czech        BURBERRY          3      164923       164923       REG         Non-medicated toilet
                            Republic                                                                    preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  10-Jun-1981  10-Jun-1981
</TABLE>
                                      122
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2209/
WP-CZ   Burberry Limited    Czech        BURBERRY          3      733385       733385       REG         Non-medicated toilet
                            Republic                                                                    preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  25-Apr-2000  25-Apr-2000
2211/
WP-CZ   Burberry Limited    Czech      Burberry Check      3      732879       732879       REG         Class 3: Non-medicated
                            Republic                                                                    toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      123
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2210/
WP-CZ   Burberry Limited    Czech        Equestrian Knight 3      732707       732707       REG         Class 3: Non-medicated
                            Republic     Device                                                         toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
31816   Burberry Limited    Denmark      BURBERRY          3      4496/76      4186-1977    REG         Class 3: Toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, toilet preparations
                                                                                                        for the teeth and for the
                                                                                                        hair.

                                                                  11-Oct-1976  09-Dec-1977
31826   Burberry Limited    Denmark      BURBERRYS         3                   1903/1979    REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations, soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                               29-Jun-1979
31833   Burberry Limited    Dominican    BURBERRYS         3      31094        31094        REG         Toilet preparations,
                            Republic                                                                    perfumes, cosmetic
                                                                                                        preparations, soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                               24-Oct-1980
</TABLE>
                                      124
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2434    Burberry Limited    Ecuador      BURBERRY          3      104732/00    12703-01     REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  07-Jun-2000  22-Aug-2001
2473    Burberry Limited    Ecuador      Burberry Check    3      104731/00    12702/01     REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  07-Jun-2000  22-Aug-2001
31861   Burberry Limited    Egypt        BURBERRYS         3                   59336        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                               07-Jul-1985
2677    Burberry Limited    El Salvador  BURBERRY          3      692-2000     218 Book 144 REG        Class 3 - Toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations;
                                                                                                        soaps, toilet preparations
                                                                                                        for teeth and for the hair.

                                                                  01-Feb-2000  19-Nov-2001
31881   Burberry Limited    El Salvador  PRORSUM Label     3                   58 Book 125  REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations; soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                               05-Jan-1990
</TABLE>
                                      125
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2209/
WP-EE   Burberry Limited    Estonia      BURBERRY          3      733385       733385       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  25-Apr-2000  25-Apr-2000
2211/
WP-EE   Burberry Limited    Estonia      Burberry Check    3      732879       732879       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      126
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
40576   Burberry Limited    Estonia      BURBERRYS         3      8815         18163        REG         Non-medicated toilet
                                                                                                        preparations; cosmetics;
                                                                                                        perfumes, perfumery, soaps,
                                                                                                        essential oils, preparations
                                                                                                        for the teeth and hair;
                                                                                                        shampoos; talc, dusting
                                                                                                        powder, bath foam, bath gel,
                                                                                                        shower gel;
                                                                                                        anti-perspirants,
                                                                                                        deodorants, deodorant
                                                                                                        sticks; toilet water, eau de
                                                                                                        toilette, cologne, cologne
                                                                                                        spray, oil mist spray;
                                                                                                        shaving lotion, after shave,
                                                                                                        after shave emulsion,
                                                                                                        pre-shave lotion, shaving
                                                                                                        cream, shaving foam, shaving
                                                                                                        soap, skin creams,
                                                                                                        anti-wrinkle creams,
                                                                                                        moisturisers, moisture
                                                                                                        cream, anti-ageing eye balm,
                                                                                                        night cream, day cream, hand
                                                                                                        cream, body moisturiser,
                                                                                                        cleansing cream,
                                                                                                        depilatories, razor burn
                                                                                                        soother, sun tan lotions,
                                                                                                        oils, sprays, mists and
                                                                                                        gels, bronzing oil mist, oil
                                                                                                        free tanning mist, bronzing
                                                                                                        gels, mists and sprays,
                                                                                                        after sun moisturiser, self
                                                                                                        tanning lotions, ultra sun
                                                                                                        block.

                                                                  12-Oct-1993  11-Jan-1996
2210/
WP-EE   Burberry Limited    Estonia      Equestrian Knight 3      732707       732707       REG         Class 3: Non-medicated
                                         Device                                                         toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      127
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
62002   Burberry Limited    European     BURBERRY          3      1058312      001058312    REG         Class 3: Non-medicated
                            Union                                                                       toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  26-Jan-1999  26-Jan-1999
2256    Burberry Limited    European     Burberry Check    3      001591601    001591601    REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  27-Mar-2000  15-Feb-2002
</TABLE>
                                      128
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2242    Burberry Limited    European     Equestrian Knight 3      001591577    001591577    REG         Class 3: Non-medicated
                            Union        Device                                                         toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  27-Mar-2000  05-Feb-2002
62977   Burberry Limited    European     PRORSUM           3      1235829      1235829      REG         Class 3: Non-medicated
                            Union                                                                       toilet preparations,
                                                                                                        perfumes, eaux de cologne
                                                                                                        and toilet waters; essential
                                                                                                        oils, cosmetics preparations
                                                                                                        for the teeth and for the
                                                                                                        hair, soaps, shampoos;
                                                                                                        anti-perspirants and
                                                                                                        deodorants, shaving
                                                                                                        preparations, pot pourri.

                                                                  06-Jul-1999  06-Jul-1999

61053   Burberry Limited    European     THOMAS BURBERRY   3      936195       000936195    REG         Class 3: Non-medicated
                            Union        crossed flag                                                   toilet preparations,
                                         device                                                         perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  11-Sep-1998  11-Sep-1998
</TABLE>
                                      129
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2872    Burberry Limited    European     Thomas Burberry   3      002530350    002530350    REG         Class 3: Non-medicated
                            Union        Label                                                          toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  10-Jan-2002  04-Jul-2003
31896   Burberry Limited    Finland      BURBERRY          3                   78873        REG         Toilet preparations,
                                                                                                        perfumes, cosmetics,
                                                                                                        preparations, soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair (Class 3).

                                                                  10-Nov-1978  21-Sep-1981
31897   Burberry Limited    Finland      BURBERRYS         3                   78874        REG         Toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations, soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair (Class 3).

                                                                               21-Sep-1981
31906   Burberry Limited    Finland      PRORSUM Label     3                   83788        REG         Class 3 - Toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, toilet preparations
                                                                                                        for the teeth and for the
                                                                                                        hair.

                                                                               05-Jan-1983
31926   Burberry Limited    France       BURBERRY          3                   1373362      REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations, soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                               14-Oct-1976
2209/
WP-GE   Burberry Limited    Georgia      BURBERRY          3      733385       733385       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      130
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2211/
WP-GE   Burberry Limited    Georgia      Burberry Check    3      732879       732879       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
40575   Burberry Limited    Georgia      BURBERRYS         3      006100/03    4580         REG         Non-medicated toilet
                                                                  (731/03-94                            preparations; cosmetics;
                                                                                                        perfumes, perfumery, soaps,
                                                                                                        essential oils, preparations
                                                                                                        for the teeth and hair;
                                                                                                        shampoos; talc, dusting
                                                                                                        powder, bath foam, bath gel,
                                                                                                        shower gel;
                                                                                                        anti-perspirants,
                                                                                                        deodorants, deodorants
                                                                                                        sticks; toilet water, eau de
                                                                                                        toilette, eau de cologne,
                                                                                                        cologne spray, oil mist
                                                                                                        spray; shaving lotion, after
                                                                                                        shave lotion, after shave
                                                                                                        emulsion, pre-shave lotion,
                                                                                                        shaving cream, shaving foam,
                                                                                                        shaving soap, skin cream,
                                                                                                        anti-wrinkle creams,
                                                                                                        moisturisers, moisture
                                                                                                        cream, anti-ageing eye balm,
                                                                                                        night cream, day cream, hand
                                                                                                        cream, body moisturiser,
                                                                                                        cleaning cream,
                                                                                                        depilatories, razor burn
                                                                                                        soother, sun tan lotions,
                                                                                                        oils, sprays, mists and
                                                                                                        gels, bronzing oil mist, oil
                                                                                                        free tanning mist, bronzing
                                                                                                        gels, mists and sprays,
                                                                                                        after sun moisturiser, self
                                                                                                        tanning lotions, ultra sun
                                                                                                        block.

                                                                  14-Jun-1994  07-Feb-1997
2210/
WP-GE   Burberry Limited    Georgia      Equestrian Knight 3      732707       732707       REG         Class 3: Non-medicated
                                         Device                                                         toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
34020   Burberry Limited    Germany      BURBERRY CHECK                        1091204      REG         Soaps, perfumes, essential
                                         (Burberrys (top))                                              oils, products for body and
                                                                                                        beauty care, hair lotions
                                                                                                        and shampoos, shaving
                                                                                                        lotions, tooth cleaning
                                                                                                        products.

                                                                  06-Aug-1985  09-May-1986
</TABLE>
                                      131
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
34021   Burberry Limited    Germany      BURBERRY CHECK    3      B77418/18WZ  1091205      REG         Soaps, perfumes, essential
                                         (Prorsum label)                                                oils, products for body
                                                                                                        and beauty care, hair
                                                                                                        lotions and shampoos,
                                                                                                        shaving lotions, tooth
                                                                                                        cleaning products.

                                                                  06-Aug-1985  09-May-1986
31993   Burberry Limited    Germany      BURBERRYS         3      W53979       643624       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  26-Jun-1981  26-Jun-1981
34401   Burberry Limited    Germany      BURBERRYS         3      B93959/3WZ   2016690      REG         Perfumery agents for rooms
                                                                                                        in the form of dried leaves,
                                                                                                        flowers and fruits;
                                                                                                        cosmetics, perfumery, soaps,
                                                                                                        shampoos, deodorants for
                                                                                                        personal and non-personal
                                                                                                        use, eau de cologne and
                                                                                                        toilet waters, essential
                                                                                                        oils.

                                                                  16-Oct-1991  08-Jul-1992
31977   Burberry Limited    Germany      BURBERRYS         3                   988664       REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations, soaps, toilet
                                                                                                        preparations, soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                               23-Nov-1978
</TABLE>
                                      132
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
34400   Burberry Limited    Germany      EQUESTRIAN KNIGHT 3      B93960/3WZ   2016691      REG         Perfumery agents for rooms
                                         Device                                                         in the form of dried leaves,
                                                                                                        flowers and fruits;
                                                                                                        cosmetics, perfumery, soaps,
                                                                                                        shampoos, deodorants for
                                                                                                        personal and non-personal
                                                                                                        use, eau de cologne and
                                                                                                        toilet waters, essential
                                                                                                        oils.

                                                                  16-Oct-1991  08-Jul-1992
31975   Burberry Limited    Germany      PRORSUM Label     3                   986187       REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations, soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                               06-Jan-1979
2558    Burberry Limited    Gibraltar    BURBERRY          3                   8380         REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                               13-Oct-2000
2474    Burberry Limited    Guatemala    Burberry Check    3      6877         109517       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  17-Aug-2000  11-Apr-2001
</TABLE>
                                      133
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
32012   Burberry Limited    Guatemala    BURBERRYS         3                   45092        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  22-Dec-1981  29-Sep-1983
32010   Burberry Limited    Guatemala    PRORSUM Label     3                   43758        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations;
                                                                                                        soaps; non-medicated toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                  10-Sep-1980  22-Jul-1982
32030   Burberry Limited    Guyana       BURBERRYS         3                   11249A       REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations; soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                               25-Sep-1980
32029   Burberry Limited    Guyana       PRORSUM Label     3                   11248A       REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations; soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                               25-Sep-1980
51892   Burberry Limited    Hong Kong    BURBERRY          3      10126/1996   8477/1997    REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        perfumery, cosmetic
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, shower and bath
                                                                                                        gels, skin creams, dusting
                                                                                                        powder, talc, deodorants,
                                                                                                        anti-perspirants, oil mist
                                                                                                        sprays, bronzing gels,
                                                                                                        moisturising and cleansing
                                                                                                        preparations, eau-de-cologne
                                                                                                        and toilet water, essential
                                                                                                        oils, shaving preparations,
                                                                                                        pot pourri.

                                                                  14-Aug-1996  14-Aug-1996
2091    Burberry Limited    Hong Kong    BURBERRY          3      3636/2000    12316/2000   REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  23-Feb-2000  23-Feb-2000
2034    Burberry Limited    Hong Kong    PRORSUM           3      8782/1999    5073/2000    REG         Non-medicated toilet
                                                                                                        preparations; perfumes; eau
                                                                                                        de cologne and toilet water;
                                                                                                        essential oils; cosmetic
                                                                                                        preparations for the teeth
                                                                                                        and for the hair; soaps,
                                                                                                        shampoos; anit-persipirants
                                                                                                        and deodorants; shaving
                                                                                                        preparations; pot pourris.

                                                                  08-Jul-1999  08-Jul-1999
</TABLE>
                                      134
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2209/
WP-HU   Burberry Limited    Hungary      BURBERRY          3      733385       733385       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  25-Apr-2000  25-Apr-2000
2211/
WP-HU   Burberry Limited    Hungary      Burberry Check    3      732879       732879       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      135
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
32057   Burberry Limited    Hungary      BURBERRYS         3      2253/907/    123026       REG         Non-medicated toilet
                                                                  1981                                  preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  12-Jun-1981  12-Jun-1981
2210/
WP-HU   Burberry Limited    Hungary      Equestrian Knight 3      732707       732707       REG         Class 3: Non-medicated
                                         Device                                                         toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      136
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2209/
WP-IS   Burberry Limited    Iceland      BURBERRY          3      733385       733385       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourr.

                                                                  25-Apr-2000  25-Apr-2000
32063   Burberry Limited    India        BURBERRYS         3      376900       B376900      REG

                                                                  10-Jun-1981  10-Jun-1981
2096    Burberry Limited    Indonesia    BURBERRY          3      D004358      472181       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  09-Mar-2000  05-Apr-2001
2157    Burberry Limited    Indonesia    Burberry Check    3      D004356      472180       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  09-Mar-2000  05-Apr-2001
31929   Burberry Limited    Indonesia    BURBERRYS         3                   519518       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  20-Jul-1991  03-Mar-1993
34024   Burberry Limited    Iran         BURBERRYS         3      78705        53924        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  27-Jun-1981  27-Jun-1981
</TABLE>
                                      137
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
31872   Burberry Limited    Ireland      PRORSUM Label     3                   B92298       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations, soaps;
                                                                                                        non-medicated toilet
                                                                                                        preparations for the teeth
                                                                                                        and the hair.

                                                                               06-Oct-1976
32071   Burberry Limited    Israel       BURBERRY          3      50809        50809        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  16-Jun-1980  16-Sep-1980
2501    Burberry Limited    Israel       Burberry Check    3      137571       137571       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  09-May-2000  09-May-2001
2494    Burberry Limited    Israel       Equestrian Knight 3      137574       137574       REG         Class 3: Non-medicated
                                         Device                                                         toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  09-May-2000  09-May-2000
32097   Burberry Limited    Italy        BURBERRY          3      35059C/76    758962       REG         Class 3: Toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, toilet preparations
                                                                                                        for the teeth and for the
                                                                                                        hair.

                                                                  19-Oct-1976  04-Feb-1985
</TABLE>
                                      138
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>            <C>        <C>         <C>
2211/
WP-IT   Burberry Limited    Italy        Burberry Check    3      732879         732879     REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de Cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                                 11-Jun-2001
30870   Burberry Limited    Italy        BURBERRYS         3      39667C/90      589806     REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  23-Apr-1990    01-Mar-1993
32078   Burberry Limited    Italy        BURBERRYS         3                     712894     REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, toilet preparations
                                                                                                        for the teeth and for the
                                                                                                        hair.

                                                                  26-Feb-1965    15-Mar-1967
2787    Burbery Limited     Italy        Burberry Check    3      FI2000C001533  932077     REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  16-Nov-2000    14-Jul-2004
</TABLE>
                                      139
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
30871   Burberry Limited    Italy        EQUESTRIAN KNIGHT 3      39668C/90    589807       REG         Class 3: Non-medicated
                                         Device                                                         toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  23-Apr-1990  01-Mar-1993
32094   Burberry Limited    Italy        PRORSUM Label     3                   713161       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, toilet preparations
                                                                                                        for the teeth and for the
                                                                                                        hair.

                                                                  10-Mar-1965  17-Mar-1967
30891   Burberry Limited    Jamaica      BURBERRY          3      3/1778       B20123       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  16-Jun-1981  16-Jun-1981
2397    Burberry Limited    Jamaica      Burberry Check    3      3/4096       37229        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  09-May-2000  09-May-2000
30944   Burberry Limited    Japan        BURBERRY          3      53-84873     1582716      REG         Toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations, soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                               27-Apr-1983
2649    Burberry Limited    Japan        BURBERRY BLUE     3      2000-61983   4476784      REG         Class 3: Shampoos, cleansing
                                         LABEL                                                          preparations for the
                                                                                                        skin,and other soaps;
                                                                                                        essential oils, pot pourri,
                                                                                                        and other fragrance and
                                                                                                        flavourings; eau de
                                                                                                        colognes, and other toilet
                                                                                                        waters, shaving creams, hair
                                                                                                        cosmetics, perfumes and
                                                                                                        other cosmetics;
                                                                                                        dentifrices.

                                                                  06-Jun-2000  25-May-2001
</TABLE>
                                      140
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2211/
WP-JP   Burberry Limited    Japan        Burberry Check    3      732879       732879       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
32424   Burberry Limited    Japan        BURBERRY CHECK    3      13031/1986   2168116      REG
                                                                               29-Sep-1989
30914   Burberry Limited    Japan        BURBERRYS         3                   721626       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        toilet soaps; toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                               30-Sep-1966
30980   Burberry Limited    Japan        BURBERRYS in      3                   2117568      REG         Soaps, cosmetics and
                                         Katakana                                                       perfumes.
                                         Characters

                                                                               21-Feb-1989
30922   Burberry Limited    Japan        BURBERRYS OF      3                   1517012      REG         Toilet goods.
                                         LONDON                                25-May-1982
</TABLE>
                                      141
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2210/
WP-JP   Burberry Limited    Japan        Equestrian        3      732707       732707       REG         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
2652    Burberry Limited    Japan        Equestrian        3      2000-61982   4493209      REG         Class 3: Shampoos, cleansing
                                         Knight Device                                                  preparations for the skin
                                                                                                        (excluding medical use), and
                                                                                                        other soaps; essential oils,
                                                                                                        pot pourri, and other
                                                                                                        fragrance and flavourings;
                                                                                                        eau de colognes, and other
                                                                                                        toilet waters, shaving
                                                                                                        creams, hair cosmetics,
                                                                                                        perfumes and other
                                                                                                        cosmetics; dentifrices.

                                                                  06-Jun-2000  19-Jul-2001
2005    Burberry Limited    Japan        PRORSUM           3      63824/1999   4434995      REG         Class 3: Shampoos and other
                                                                                                        soaps; potpourri and another
                                                                                                        fragrances and flavourings;
                                                                                                        perfumes, eaux de cologne,
                                                                                                        shaving toilet water, toilet
                                                                                                        waters, deodorants for
                                                                                                        personal use, shaving
                                                                                                        preparations, bath salts and
                                                                                                        other cosmetics;
                                                                                                        dentifrices.

                                                                  15-Jul-1999  24-Nov-2000
</TABLE>
                                      142
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
51893   Burberry Limited    Jordan       BURBERRYS         3      43820        43820        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        perfumery, cosmetic
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, shower and bath
                                                                                                        gels, skin creams, dusting
                                                                                                        powder, talc, deodorants,
                                                                                                        anti-perspirants, oil mist
                                                                                                        sprays, bronzing gel,
                                                                                                        moisturising and cleansing
                                                                                                        preparations, eau-de-cologne
                                                                                                        and toilet water, essential
                                                                                                        oils, shaving preparations,
                                                                                                        pot pourri.

                                                                  13-Oct-1996  13-Oct-1996
40571   Burberry Limited    Kazakhstan   BURBERRYS         3      6085         6840         REG         Non-medicated toilet
                                                                                                        preparations, cosmetics,
                                                                                                        perfumes, perfumery, soaps,
                                                                                                        essential oils, preparations
                                                                                                        for the teeth and hair,
                                                                                                        shampoos; talc, dusting
                                                                                                        powder, bath foam, bath gel,
                                                                                                        shower gel;
                                                                                                        anti-perspirants,
                                                                                                        deodorants, deodorant
                                                                                                        sticks; toilet water, eau de
                                                                                                        toilette, cologne, cologne
                                                                                                        spray, oil mist spray;
                                                                                                        shaving lotion, after shave,
                                                                                                        after shave emulsion,
                                                                                                        pre-shave lotion, shaving
                                                                                                        cream, shaving foam, shaving
                                                                                                        soap, skin creams,
                                                                                                        anti-wrinkle creams,
                                                                                                        moisturisers, moisture
                                                                                                        cream, anti-ageing eye balm,
                                                                                                        night cream, day cream, hand
                                                                                                        cream, body moisturiser,
                                                                                                        cleansing cream,
                                                                                                        depilatories, razor burn
                                                                                                        soother, sun tan lotions,
                                                                                                        oils, sprays, mists and
                                                                                                        gels, bronzing oil mist, oil
                                                                                                        free tanning mist, bronzing
                                                                                                        gels, mists and sprays,
                                                                                                        after sun moisturiser, self
                                                                                                        tanning lotions, ultra sun
                                                                                                        block.

                                                                  01-Jul-1994  11-May-1998
31011   Burberry Limited    Kenya        BURBERRY          3      28694        28694        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  11-Jun-1981  11-Jun-1981
</TABLE>
                                      143
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
2209/
WP-KE   Burberry Limited    Kenya        BURBERRY          3      733385       733385       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

2209/                                                             25-Apr-2000  25-Apr-2000
WP-KP   Burberry Limited    Korea        BURBERRY          3      733385       733385       REG         Non-medicated toilet
                            (North)                                                                     preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      144
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
34033   Burberry Limited    Korea        BURBERRY         3      4313/1979     67966        REG         Perfume, perfumed oil,
                            (South)                                                                     general toilet water, face
                                                                                                        powder, skin lotion, facial
                                                                                                        cream, eau de cologne,
                                                                                                        cleansing cream, foundation
                                                                                                        cream, powdered perfume,
                                                                                                        hair tonic, hair dyeing
                                                                                                        agent, hair spray and hair
                                                                                                        de-colouring agent.

                                                                               07-Feb-1980
34032   Burberry Limited    Korea        BURBERRY         3      4317/1979     67915        REG         Toilet soap, washing soap,
                            (South)                                                                     medicated soap, shampoo and
                                                                                                        dentifrices.

                                                                 26-Apr-1979   06-Feb-1980
2161    Burberry Limited    Korea        Burberry Check   3      40-2000-9841  503136       REG         Class 3: Non-medicated
                            (South)                                                                     toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                 06-Mar-2000   08-Oct-2001
51891   Burberry Limited    Korea        BURBERRYS        3      96-42912      413658       REG         Perfumes, perfumery,
                            (South)                                                                     cosmetic preparations for
                                                                                                        the hair, shower and bath
                                                                                                        gels, skin creams, dusting
                                                                                                        powders, talcs, deodorants,
                                                                                                        anti-perspirants, oil mist
                                                                                                        sprays, bronzing gels,
                                                                                                        moisture creams, moisture
                                                                                                        lotions, moisturizing
                                                                                                        creams, cleansing creams and
                                                                                                        cleansing lotions all for
                                                                                                        the skin, shaving lotions,
                                                                                                        hand creams, anti-ageing
                                                                                                        balms, razor burn soothers,
                                                                                                        eau-de-cologne and toilet
                                                                                                        waters, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri, atomizers and
                                                                                                        compacts.

                                                                 24-Sep-1996   31-Jul-1998
52872   Burberry Limited    Korea        BURBERRYS        3      96-42913      409822       REG         Toilet soaps, perfumed
                            (South)                                                                     soaps, shaving soap,
                                                                                                        shampoos, toothpaste and
                                                                                                        dentifrices.

                                                                 24-Sep-1996   14-Jul-1998
2122    Burberry Limited    Korea        Equestrian       3      40-2000-9718  497181       REG         Perfume, eau de perfume, eau
                            (South)      Knight Device                                                  de cologne, essential oils,
                                                                                                        body lotion, body lotion,
                                                                                                        body cream, bath gel, shower
                                                                                                        gel, body deodorants,
                                                                                                        shaving soaps, bath soaps,
                                                                                                        liquid soaps, cosmetic
                                                                                                        soaps, deodorant soaps,
                                                                                                        aftershave lotions,
                                                                                                        aftershave creams,
                                                                                                        aftershave balm, shampoo,
                                                                                                        common toilet water, anti
                                                                                                        perspirants and potpourri.

                                                                 06-Mar-2000   09-Jul-2001
2041    Burberry Limited    Korea        PRORSUM          3      40-1999-27485 40-480143    REG         Class 3: Perfume, eau de
                            (South)                                                                     perfume; eau de cologne,
                                                                                                        essential oils,body lotions,
                                                                                                        body cream, bath gel, showe
                                                                                                        gel, body deodorants,
                                                                                                        shaving soaps, bath soaps,
                                                                                                        liquid soaps, cosmetic
                                                                                                        soaps, deodorant soaps,
                                                                                                        aftershave lotions,
                                                                                                        aftershave cream, aftershave
                                                                                                        balm, shampoo, common toilet
                                                                                                        water, anti-perspirants and
                                                                                                        pot pourri.

                                                                 28-Jul-1999   30-Oct-2000
</TABLE>

                                      145
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
52244   Burberry Limited    Kuwait       BURBERRYS         3      35264        34672        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants,
                                                                                                        eau-de-cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri; all included in
                                                                                                        Class 3.

                                                                  27-Nov-1996  27-Nov-1996
2516    Burberry Limited    Kuwait       PRORSUM           3      49990        44736        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  09-May-2001  05-May-2003
41565    Burberry Limited   Kyrgyzstan   BURBERRYS         3      940210.3     2662         REG         Non-medicated toilet
                                                                                                        preparations; cosmetics;
                                                                                                        perfumes, perfumery, soaps,
                                                                                                        essential oils, preparations
                                                                                                        for teeth and hair;
                                                                                                        shampoos; talc, dusting
                                                                                                        powder, bath foam, bath gel,
                                                                                                        shower gel;
                                                                                                        anti-perspirants,
                                                                                                        deodorants, deodorant
                                                                                                        sticks; toilet water, eau de
                                                                                                        toilette, cologne, cologne
                                                                                                        spray, oil mist spray;
                                                                                                        shaving lotion, after shave,
                                                                                                        skin creams, anti-wrinkle
                                                                                                        creams, moisturisers,
                                                                                                        moisture cream, anti-ageing
                                                                                                        eye balm, night cream, day
                                                                                                        cream, hand cream, body
                                                                                                        moisturiser, cleansing
                                                                                                        cream, depilatories, razor
                                                                                                        burn soother, sun tan
                                                                                                        lotions, oils, sprays, mists
                                                                                                        and gels, bronzing oil mist,
                                                                                                        sun tanning mist, bronzing
                                                                                                        gels, mists and sprays,
                                                                                                        after sun moisturiser, self
                                                                                                        tanning lotions, ultra sun
                                                                                                        block.

                                                                  02-Jun-1994  20-Dec-1995
</TABLE>
                                      146
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK         CLASS  APP NO  REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>               <C>    <C>          <C>          <C>         <C>
40578   Burberry Limited    Latvia       BURBERRY          3      M-93-8216    M34 064      REG         Non-medicated toilet
                                                                                                        preparations; cosmetics;
                                                                                                        perfumes, perfumery, soaps,
                                                                                                        essential oils, preparations
                                                                                                        for the teeth and hair;
                                                                                                        shampoos; talc, dusting
                                                                                                        powder, bath foam, bath gel,
                                                                                                        shower gel;
                                                                                                        anti-perspirants,
                                                                                                        deodorants, deodorant
                                                                                                        sticks; toilet water, eau de
                                                                                                        toilette, cologne, cologne
                                                                                                        spray, oil mist spray;
                                                                                                        shaving lotion, after shave,
                                                                                                        after shave emulsion,
                                                                                                        pre-shave lotion, shaving
                                                                                                        cream, shaving foam, shaving
                                                                                                        soap, skin creams,
                                                                                                        anti-wrinkle creams,
                                                                                                        moisturisers, moisture
                                                                                                        cream, anti-ageing eye balm,
                                                                                                        night cream, day cream, hand
                                                                                                        cream, body moisturiser,
                                                                                                        cleansing cream,
                                                                                                        depilatories, razor burn
                                                                                                        soother, sun tan lotions,
                                                                                                        oils, sprays, mists and
                                                                                                        gels, bronzing oil mist, oil
                                                                                                        free tanning mist, bronzing
                                                                                                        gels, mists and sprays,
                                                                                                        after sun moisturiser, self
                                                                                                        tanning lotions, ultra sun
                                                                                                        block.

                                                                  04-Oct-1993  20-Oct-1996
2580    Burberry Limited    Latvia       Burberry Check    3      M-00-911     M 47 489     REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  10-Jul-2000  20-Feb-2001
2583    Burberry Limited    Latvia       Equestrian        3      M 46 716     M 46716      REG         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  10-Jul-2000  20-Oct-2000
31052   Burberry Limited    Lebanon      BURBERRYS         3      288/A/143684 40926        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                               06-Aug-1981
</TABLE>
                                      147
<PAGE>

             REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2209/
WP-LI   Burberry Limited   Liechtenstein BURBERRY          3       733385      733385       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.
                                                                  25-Apr-2000  25-Apr-2000
2209/
WP-LT   Burberry Limited   Lithuania     BURBERRY          3      733385       733385       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      148
<PAGE>

                 REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2211/
WP-LT   Burberry Limited    Lithuania    Burberry Check    3      732879       732879       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  17-Jul-2002
40577   Burberry Limited    Lithuania    BURBERRYS         3      ZP 13174     25989        REG         Toiletries; cosmetics;
                                                                                                        perfumery; perfumes, soaps,
                                                                                                        essential oils, hair
                                                                                                        lotions, shampoo, talcum
                                                                                                        powder (for toilet use),
                                                                                                        anti-perspirants
                                                                                                        [toiletries], deodorants for
                                                                                                        personal use, deodorant
                                                                                                        soap, toilet water, eau de
                                                                                                        Cologne, oils for toilet
                                                                                                        purposes, lotions for
                                                                                                        cosmetics purposes, shaving
                                                                                                        preparations, cosmetic
                                                                                                        preparations for baths;
                                                                                                        sun-tanning preparations,
                                                                                                        including oils and jelly; UV
                                                                                                        protection preparations;
                                                                                                        cosmetic creams, cosmetic
                                                                                                        creams (anti-ageing eye
                                                                                                        creams), depilatories,
                                                                                                        scented water, shaving
                                                                                                        preparations, cleansing milk
                                                                                                        for toilet purposes,
                                                                                                        cosmetic preparations for
                                                                                                        skin care, dentifrices in
                                                                                                        Class 3.

                                                                  21-Oct-1993  14-Nov-1997
</TABLE>

                                      149
<PAGE>

                    REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2210/
WP-LT   Burberry Limited    Lithuania    Equestrian        3      732707       732707       REG         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
2162    Burberry Limited    Macao        Burberry Check    3      N/5798       N/5798       REG         Class 3: Toiletry
                                                                                                        preparations, cosmetics,
                                                                                                        perfumery, preparations for
                                                                                                        the hair, essential oils".
                                                                  22-Mar-2000  11-Jun-2002
31619   Burberry Limited    Macao        BURBERRYS         3      3803-M       3803-M       REG         Articles of perfumery,
                                                                                                        cosmetics, soaps, body
                                                                                                        lotions and toilet water.

                                                                  23-Dec-1987  25-Jan-1988
2123    Burberry Limited    Macao        Equestrian        3      N/5800       N/5800       REG         Class 3: Toiletery
                                         KnightDevice                                                   preparations, cosmetics,
                                                                                                        perfumery, preparations for
                                                                                                        the hair, essential oils.
                                                                  22-Mar-2000  24-Aug-2000
31627   Burberry Limited    Macao        PRORSUM Label     3      3782-M       3782-M       REG         Articles of perfumery,
                                                                                                        cosmetics, soaps, body
                                                                                                        lotions and toilet water.

                                                                  23-Dec-1987  25-Jan-1988
44650   Burberry Limited    Macedonia    BURBERRYS         3      PZ-531/95    5915         REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.
                                                                  11-Jul-1995  21-Feb-2000
31616   Burberry Limited    Malaysia     BURBERRYS         3      M/B91107     M/B91107     REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water;
                                                                                                        all included in Class 3.

                                                                               24-Jun-1981  24-Jun-1981
</TABLE>
                                      150
<PAGE>

                  REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>

2128    Burberry Limited    Malaysia     Equestrian        3      2000/04041   00004041     REG         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  07-Apr-2000  07-Apr-2000

2563    Burberry Limited    Malta        BURBERRY          3      32761        32761        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  04-Jan-2001  04-Jan-2001
2383    Burberry Limited    Mauritius    BURBERRY          3                   A/48 No.8    REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  05-Jun-2000  05-Jun-2000
</TABLE>

                                      151
<PAGE>

                   REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2413    Burberry Limited    Mauritius    Burberry Check    3                   A/48No.7     REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  05-Jun-2000  05-Jun-2001
2435    Burberry Limited    Mexico       BURBERRY          3      455503       683854       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  30-Oct-2000  30-Oct-2000
2475    Burberry Limited    Mexico       Burberry Check    3      455507       696797       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  30-Oct-2000  30-Oct-2001
30878   Burberry Limited    Mexico       BURBERRYS         3      94415        406401       REG         Bath preparations,
                                                                                                        perfumery, cosmetics and
                                                                                                        hair preparations.

                                                                  24-Aug-1990  20-Feb-1992
</TABLE>

                                      152
<PAGE>

                   REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
31576   Burberry Limited    Mexico       EQUESTRIAN        3      98033        410912       REG         Bleaching preparations and
                                         KNIGHT Device                                                  other substances for laundry
                                                                                                        use; cleaning, polishing,
                                                                                                        scouring and abrasive
                                                                                                        preparations; soaps;
                                                                                                        perfumery, essential oils,
                                                                                                        cosmetics, hair lotions;
                                                                                                        dentifrices, particularly
                                                                                                        essential oils and
                                                                                                        toiletries including bath
                                                                                                        salts, beauty masks, cotton
                                                                                                        wool and cotton sticks for
                                                                                                        cosmetic purposes,
                                                                                                        dentifrices,
                                                                                                        anti-perspirants,
                                                                                                        depilatories, shampoos, hair
                                                                                                        conditioner, lipsticks,
                                                                                                        make-up preparations,
                                                                                                        make-up removing
                                                                                                        preparations, nail care
                                                                                                        preparations, nail polish,
                                                                                                        nail varnish, toilet water,
                                                                                                        cologne, cologne spray,
                                                                                                        deodorant, deodorant stick,
                                                                                                        shower gel, soaps, body
                                                                                                        moisturiser, dusting powder,
                                                                                                        talc, hand cream, bath foam,
                                                                                                        bath gel, oil mist spray,
                                                                                                        bronzing oil mist, oil-free
                                                                                                        tanning mist, ultra sun
                                                                                                        block, aftersun moisturiser,
                                                                                                        self tanning lotion,
                                                                                                        anti-wrinkle cream,
                                                                                                        anti-ageing eye balm, night
                                                                                                        cream, day cream, cleansing
                                                                                                        cream, cleansing lotion,
                                                                                                        moisturiser, after shave
                                                                                                        lotion, after shave
                                                                                                        emulsion, pre-shave lotion,
                                                                                                        shaving foam, moisturising
                                                                                                        cream, bronzing gel, razor
                                                                                                        burn soother.

                                                                  05-Oct-1990  14-Apr-1992
40572   Burberry Limited    Moldova      BURBERRYS         3      002330       022          REG         Non-medicated toilet
                                                                                                        preparations; cosmetics;
                                                                                                        perfumes, perfumery, soaps,
                                                                                                        essential oils, preparations
                                                                                                        for the teeth and hair;
                                                                                                        shampoos; talc, dusting
                                                                                                        powder, bath foam, bath gel,
                                                                                                        shower gel;
                                                                                                        anti-perspirants,
                                                                                                        deodorants, deodorant
                                                                                                        sticks; toilet water, eau de
                                                                                                        cologne, eau de cologne
                                                                                                        spray, oil mist spray;
                                                                                                        shaving lotion, after shave,
                                                                                                        after shave emulsion,
                                                                                                        pre-shave lotion, shaving
                                                                                                        cream, shaving foam, shaving
                                                                                                        soap, skin creams,
                                                                                                        anti-wrinkle creams,
                                                                                                        moisturisers, moisture
                                                                                                        cream, anti-ageing eye balm,
                                                                                                        night cream, day cream, hand
                                                                                                        cream, body moisturiser,
                                                                                                        cleansing cream,
                                                                                                        depilatories, razor burn
                                                                                                        soother, sun tan lotions,
                                                                                                        oils, sprays, mists and
                                                                                                        gels, bronzing oil mist, oil
                                                                                                        free tanning mist, bronzing
                                                                                                        gels, mists and sprays,
                                                                                                        after sun moisturiser, self
                                                                                                        tanning lotions, ultra sun
                                                                                                        block.

                                                                  07-Jul-1994  03-Oct-1996

</TABLE>
                                      153
<PAGE>
              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2209/
WP-MC   Burberry Limited    Monaco       BURBERRY          3      733385       733385       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  25-Apr-2000  25-Apr-2000
2669    Burberry Limited    Morocco      BURBERRY          3      73922        73922        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  21-Jun-2000  21-Jun-2000
</TABLE>

                                      154
<PAGE>

                   REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2415    Burberry Limited    Morocco      Burberry Check    3      73923        73923        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  21-Jun-2000  21-Jun-2000
31120   Burberry Limited    Morocco      BURBERRYS         3                   77831        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  23-Jun-1981  23-Jun-1981
2148    Burberry Limited    New Zealand  BURBERRY          3      609022       609022       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  22-Feb-2000  22-Feb-2000
34072   Burberry Limited    New Zealand  BURBERRY          3      147399       147399       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair in
                                                                                                        the class, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water.

                                                                  02-Jun-1983  02-Jun-1983
2168    Burberry Limited    New Zealand  Burberry Check    3      609021       609021       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  22-Feb-2000  22-Feb-2000
</TABLE>

                                      155
<PAGE>

          REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2142    Burberry Limited    New Zealand  Equestrian        3      609025      609025        REG         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  22-Feb-2000  22-Feb-2000
31030   Burberry Limited    Nicaragua    BURBERRYS         3                   12870        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                               08-Jul-1981
31023   Burberry Limited    Nicaragua    PRORSUM Label     3                   12500        REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations, soaps,
                                                                                                        non-medicated toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                               12-Mar-1981
2209/
WP-NO   Burberry Limited    Norway       BURBERRY          3      733385       733385       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>

                                      156
<PAGE>
                   REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2211/
WP-NO   Burberry Limited    Norway       Burberry Check    3      732879       732879       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000     25-Apr-2000
2210/
WP-NO   Burberry Limited    Norway       Equestrian      t 3      732707       732707       REG         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      157
<PAGE>

                   REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
31142   Burberry Limited    Norway       PRORSUM Label     3                   111635       REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair. NB:
                                                                                                        FOLLOWING GOODS WERE DELETED
                                                                                                        ON RENEWAL IN 1992 WHEN
                                                                                                        EVIDENCE OF CORRESPONDING
                                                                                                        UNITED KINGDOM RENEWAL WAS
                                                                                                        REQUIRED; IT APPEARED THAT
                                                                                                        UK NO. B1100701 HAD BEEN
                                                                                                        ALLOWED TO LAPSE BY
                                                                                                        BURBERRYS IN 1985 AND AS A
                                                                                                        RESULT, CLASS 28 WAS DELETED
                                                                                                        FROM THIS
                                                                                                        REGISTRATION:'Sporting
                                                                                                        articles (not included in
                                                                                                        other classes)'.

                                                                               05-Aug-1982
2904    Burberry Limited    Norway       TB                3      200200001    215.962      REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  02-Jan-2002  03-Oct-2002
</TABLE>
                                      158
<PAGE>

                REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2888    Burberry Limited    Norway       Thomas Burberry   3      200200002    215.963      REG         Class 3: Non-medicated
                                         Label                                                          toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  02-Jan-2002  03-Oct-2002
51890   Burberry Limited    Oman         BURBERRYS         3      14113        14113        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        perfumery, cosmetic
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, shower and bath
                                                                                                        gels, skin creams, dusting
                                                                                                        powder, talc, deodorants for
                                                                                                        personal use,
                                                                                                        anti-perspirants, oil mist
                                                                                                        sprays, bronzing gel,
                                                                                                        moisturising and cleansing
                                                                                                        preparations, eau-de-cologne
                                                                                                        and toilet water, essential
                                                                                                        oils, shaving preparations,
                                                                                                        pot pourri.

                                                                  18-Aug-1996  09-Oct-2002

</TABLE>
                                      159
<PAGE>

                  REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
31483   Burberry Limited    Pakistan     BURBERRYS         3      74448        74448        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  13-Jun-1981  13-Jun-1981
31042   Burberry Limited    Panama       BURBERRYS         3                   28056        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        perparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  13-Jul-1981  02-Mar-1982
31038   Burberry Limited    Panama       PRORSUM Label     3                   26062        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations,
                                                                                                        soaps, non-medicated toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                  20-Nov-1980  06-Aug-1981
2436    Burberry Limited    Paraguay     BURBERRY          3      12409        232447       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  29-May-2000  09-Feb-2001
31149   Burberry Limited    Paraguay     BURBERRY          3      3849         151922       REG         Perfumes, cosmetics, soaps,
                                                                                                        shampoo, toilet
                                                                                                        preparations, creams,
                                                                                                        lotions, aftershave lotion,
                                                                                                        non-medicated toilet
                                                                                                        preparations,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne, toilet water,
                                                                                                        make-up.

                                                                  24-Jun-1981  27-Nov-1981
34046   Burberry Limited    Peru         BURBERRYS         3      99675        68090        REG         All the goods in the class.
                                                                               09-Jun-1987
33591   Burberry Limited    Peru         PRORSUM Label     3      108667       68828        REG         All goods in the class.
                                                                               30-Jun-1987
30900   Burberry Limited    Philippines  BURBERRYS         3      51412        51663        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  16-Jun-1983  07-Oct-1991
</TABLE>
                                      160
<PAGE>

          REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2209/
WP-PL   Burberry Limited    Poland       BURBERRY          3      733385       733385       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  25-Apr-2000  25-Apr-2000
2211/
WP-PL   Burberry Limited    Poland       Burberry Check    3      732879       732879       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      161
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
31162   Burberry Limited    Poland       BURBERRYS         3      Z-79951      59016        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  24-Jun-1981  24-Jun-1981
2210/
WP-PL   Burberry Limited    Poland       Equestrian        3      732707       732707       REG         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
31173   Burberry Limited    Portugal     BURBERRYS         3      208500                    REG         Perfumery articles,
                                                                                                        cosmetics, soaps, hair
                                                                                                        lotions and eau de toilette.

                                                                  22-Sep-1980  02-Sep-1987
31174   Burberry Limited    Portugal     PRORSUM Label     3                   217596       REG         Perfumery articles,
                                                                                                        cosmetics, soaps, hair
                                                                                                        lotions and eau de toilette.

                                                                  10-Sep-1982  02-Sep-1987
</TABLE>
                                      162
<PAGE>
               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2209/
WP-RO   Burberry Limited    Romania      BURBERRY          3      733385       733385       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  25-Apr-2000  25-Apr-2000
2211/
WP-RO   Burberry Limited    Romania      Burberry Check    3      732879       732879       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      163
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2210/
WP-RO   Burberry Limited    Romania      Equestrian        3      732707       732707       REG         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
2209/
WP-RU   Burberry Limited    Russian      BURBERRY          3      733385       733385       REG         Non-medicated toilet
                            Federation                                                                  preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      164
<PAGE>
               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2211/
WP-RU   Burberry Limited    Russian      Burberry Check    3      732879       732879       REG         Class 3: Non-medicated
                            Federation                                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
40447   Burberry Limited    Russian      BURBERRYS         3      104463       80283        REG         Perfumes, eau de cologne and
                            Federation                                                                  eau de toilette, cosmetic
                                                                                                        preparations, toilet soaps,
                                                                                                        shampoos, non-medicated
                                                                                                        toilet preparations,
                                                                                                        including toilet
                                                                                                        preparations for care of
                                                                                                        teeth and hair,
                                                                                                        anti-perspirants.

                                                                               09-Jul-1986
</TABLE>
                                      165
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2210/
WP-RU   Burberry Limited    Russian      Equestrian      t 3      732707       732707       REG         Class 3: Non-medicated
                            Federation   Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
31658   Burberry Limited    Saudi        BURBERRY          3      6171/1401    118/24       REG         Non-medicated toilet
                            Arabia                                                                      preparations, perfumes,
                                                                                                        shampoos, hair preparations,
                                                                                                        anti-perspirants, colognes &
                                                                                                        toilet water.

                                                                  30-Jun-1981  04-Dec-1985
2505    Burberry Limited    Saudi        Burberry Check    3      64909        567/55       REG         Class 3: Non-medicated
                            Arabia                                                                      toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  06-Jun-2000  11-Apr-2001
</TABLE>
                                      166
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2209/
WP-YU   Burberry Limited    Serbia-      BURBERRY          3      733385       733385       REG         Non-medicated toilet
                            Montenegro                                                                  preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  25-Apr-2000  25-Apr-2000
2211/
WP-YU   Burberry Limited    Serbia-      Burberry Check    3      732879       732879       REG         Class 3: Non-medicated
                            Montenegro                                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      167
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
31321   Burberry Limited    Serbia-      BURBERRYS         3                   28153        REG         Non-medicated toilet
                            Montenegro                                                                  preparations, perfumes,
                                                                                                        cosmetics, soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                               25-Feb-1985
2210/
WP-YU   Burberry Limited    Serbia-      Equestrian        3      732707       732707       REG         Class 3: Non-medicated
                            Montenegro   Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
2107    Burberry Limited    Singapore    BURBERRY          3      T00/02932A   T00/02932A   REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Feb-2000  25-Feb-2000
2173    Burberry Limited    Singapore    Burberry Check    3      T00/02921F   T00/02921F   REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Feb-2000  25-Feb-2000
2134    Burberry Limited    Singapore    Equestrian        3      T00/02924J   T00/02924J   REG         Class 3: Non-medicated
                                         Knight Device                                                  Device toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Feb-2000  25-Feb-2000
</TABLE>
                                      168
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2038    Burberry Limited    Singapore    PRORSUM           3      T99/07377H   T99/07377H   REG         non-medicated toilet
                                                                                                        preparations; perfumes, eau
                                                                                                        de cologne and toilet water;
                                                                                                        essential oils; cosmetic
                                                                                                        preparations for the teeth
                                                                                                        and for the hair; soaps,
                                                                                                        shampoos; anti-perspirants
                                                                                                        and deodorants; shaving
                                                                                                        preparations; pot pourri.

                                                                  16-Jul-1999  16-Jul-1999
46752   Burberry Limited    Slovakia     BURBERRYS         3      164923       164923       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  10-Jun-1981  10-Jun-1981
2209/
WP-SI   Burberry Limited    Slovenia     BURBERRY          3      733385       733385       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                               25-Apr-2000  25-Apr-2000
</TABLE>
                                      169
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2211/
WP-SI   Burberry Limited    Slovenia     Burberry Check    3      732879       732879       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
2210/
WP-SI   Burberry Limited    Slovenia     Equestrian        3      732707       732707       REG         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      170
<PAGE>
               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2389    Burberry Limited    South Africa BURBERRY          3      2000/08268   2000/08286   REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  04-May-2000  04-May-2000
2393    Burberry Limited    South Africa Burberry Check    3      2000/08263   2000/08263   REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  04-May-2000  04-May-2000
31193   Burberry Limited    Spain        BURBERRY          3                   648760       REG         Preparations for bleaching
                                                                                                        and other substances for
                                                                                                        colouring, preparations for
                                                                                                        cleaning, polishing,
                                                                                                        degreasing; soaps,
                                                                                                        prefumery, essential oils,
                                                                                                        cosmetics, hair lotions,
                                                                                                        dentifrices.

                                                                  24-Jun-1971  14-Jun-1977
31194   Burberry Limited    Spain        BURBERRYS         3                   648761       REG         Preparations for bleaching
                                                                                                        and other substances for
                                                                                                        colouring, preparations for
                                                                                                        cleaning, polishing and
                                                                                                        degreasing; soaps,
                                                                                                        perfumery, essential oils,
                                                                                                        cosmetics, hair lotions,
                                                                                                        dentifrices.
                                                                  24-Jun-1971  04-Nov-1977
30950   Burberry Limited    Spain        EQUESTRIAN        3      1559562      1559562      REG         Non-medicated toilet
                                         KNIGHT Device                                                  preparations, perfumes,
                                                                                                        cosmetics for teeth and
                                                                                                        hair, soaps, shampoos,
                                                                                                        anti-perspirants for
                                                                                                        personal use, eau de
                                                                                                        cologne, essential oils,
                                                                                                        shaving requisites and
                                                                                                        aromatizing mixtures of
                                                                                                        dried flowers and spices.

                                                                  29-Mar-1990  29-Mar-1990
31191   Burberry Limited    Spain        PRORSUM Label     3                   648758       REG         Preparations for bleaching
                                                                                                        and other substances for
                                                                                                        colouring, preparations for
                                                                                                        cleaning, polishing and
                                                                                                        degreasing; soaps,
                                                                                                        perfumery, essential oils,
                                                                                                        cosmetics, hair lotions,
                                                                                                        dentifrices.

                                                                  24-Jun-1971  04-Oct-1977
31545   Burberry Limited    Sweden       BURBERRY          3                   169064       REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                               31-Aug-1979
31544   Burberry Limited    Sweden       BURBERRYS         3                   167657       REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations, soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                               11-May-1979
</TABLE>
                                      171
<PAGE>
               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
31253   Burberry Limited    Switzerland  BURBERRY          3                    297749      REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations, soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                               22-Nov-1978
2211/
WP-CH   Burberry Limited    Switzerland  Burberry Check    3      732879       732879       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                               25-Apr-2000  25-Apr-2000
</TABLE>
                                      172
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2676    Burberry Limited    Switzerland  BURBERRYS         3                   354147       REG         Class 3 - Toiletries,
                                                                                                        including toiletries for
                                                                                                        dental hygiene and hair
                                                                                                        care, perfumes, cosmetic
                                                                                                        preparations, soaps.

                                                                               11-Aug-1987
31267/
PRIOR1  Burberry Limited    Switzerland  BURBERRYS         3                   293931       REG         Class 3 - Toiletries,
                                                                                                        including toiletries for
                                                                                                        dental hygiene and hair
                                                                                                        care, perfumes, cosmetic
                                                                                                        preparations, soaps.
</TABLE>
                                      173
<PAGE>
               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
31267   Burberry Limited    Switzerland  BURBERRYS         3                   370765       REG         Class 3 - Toiletries,
                                                                                                        including toiletries for
                                                                                                        dental hygiene and hair
                                                                                                        care, perfumes, cosmetic
                                                                                                        preparations, soaps.

32072   Burberry Limited    Switzerland  BURBERRYS         3      2492/90      382647       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations for
                                                                                                        dental and hair care, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de Cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving lotion, pot pourri.

                                                                  26-Mar-1990  13-Jun-1991
</TABLE>
                                      174
<PAGE>
               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
32066   Burberry Limited    Switzerland  Equestrian        3      2493/90      382739       REG         Class 3 - Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations for dental and
                                                                                                        hair care, soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        lotion, pot pourri.

                                                                  26-Mar-1990  18-Jun-1991
2037    Burberry Limited    Switzerland  PRORSUM           3      06091/1999   492.034      REG         Class 3: non-medicated
                                                                                                        toilet preparations;
                                                                                                        perfumes, eaux de cologne
                                                                                                        and toilet waters; essential
                                                                                                        oils; cosmetic preparations
                                                                                                        for the teeth and for the
                                                                                                        hair; soaps, shampoos;
                                                                                                        anti-perspirants and
                                                                                                        deodorants; shaving
                                                                                                        preparations; pot pourri.

                                                                  09-Jul-1999  09-Jul-1999

</TABLE>
                                      175
<PAGE>

                 REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
31263   Burberry Limited    Switzerland  PRORSUM Label     3                   354186       REG         Class 3 - Toiletries,
                                                                                                        including toiletries for
                                                                                                        dental hygiene and hair
                                                                                                        care, perfumes, cosmetic
                                                                                                        preparations, soaps.

                                                                               11-Feb-1987
</TABLE>
                                      176
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2905    Burberry Limited    Switzerland  TB                3      12024/2001   503.297      REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                               20-Dec-2001  02-Oct-2002
</TABLE>
                                      177
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2887    Burberry Limited    Switzerland  Thomas Burberry   3      00157/2002   503.112      REG         Class 3: Non-medicated
                                         Label                                                          toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  09-Jan-2002  09-Jan-2002
2110    Burberry Limited    Taiwan       BURBERRY          3      89011056     1016600      REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps for
                                                                                                        human use, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  03-Mar-2000     01-Oct-2002
</TABLE>
                                      178
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2174    Burberry Limited    Taiwan       Burberry Check    3      89011057     959242       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps for
                                                                                                        human use, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  03-Mar-2000  16-Sep-2001
31549   Burberry Limited    Taiwan       BURBERRYS         3      21946/69     152055       REG         Cosmetics, perfumes, the
                                                                                                        normal range of cosmetic
                                                                                                        products for use on the face
                                                                                                        & body, namely make-up
                                                                                                        creams, and lotions, toilet
                                                                                                        water, eau de parfum, eau de
                                                                                                        toilette, after-shave balms,
                                                                                                        deodorants.
                                                                  17-Sep-1980  01-Jun-1981
31660   Burberry Limited    Taiwan       BURBERRYS         3      21947/69     150172       REG         Cleansers for the human
                                                                                                        body, soaps for human use,
                                                                                                        perfumed soaps, facial
                                                                                                        soaps, facial cleansing
                                                                                                        creams, facial cleansing
                                                                                                        lotions, bathing lotions,
                                                                                                        shower gels, skin cleansers,
                                                                                                        shampoos, perfumed bath and
                                                                                                        shower gel.

                                                                  17-Sep-1980  16-Apr-1981
2135    Burberry Limited    Taiwan       Equestrian        3      89511054     957314       REG         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps for
                                                                                                        human use, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  03-Mar-2000  01-Sep-2001
2207    Burberry Limited    Taiwan       PRORSUM           3      89011058     949255       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps for
                                                                                                        human use, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  03-Mar-2000  16-Jul-2001
2114    Burberry Limited    Thailand     BURBERRY          3      417143       Kor136770    REG         Perfumes, cosmetic
                                                                                                        preparations for the teeth,
                                                                                                        cosmetic preparations for
                                                                                                        the hair, soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        toilette, eau de cologne,
                                                                                                        deodorants, essential oils,
                                                                                                        shaving preparations,
                                                                                                        aftershave preparations, pot
                                                                                                        pourri, perfumed body
                                                                                                        lotions, bath and shower
                                                                                                        gels, perfumed body creams,
                                                                                                        cosmetic preparations for
                                                                                                        skin care.

                                                                  19-Apr-2000  19-Apr-2000
</TABLE>
                                      179
<PAGE>
               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2175    Burberry Limited    Thailand     Burberry Check    3      417149       Kor138452    REG         Class 3: Perfume, cosmetic
                                                                                                        preparations for teeth;
                                                                                                        cosmetic preparations for
                                                                                                        hair; soaps;
                                                                                                        anti-perspirants; eau de
                                                                                                        toilette; eau de cologne;
                                                                                                        deodorants; essential oils,
                                                                                                        shaving preparations;
                                                                                                        aftershave preparations; pot
                                                                                                        pourri; perfumed body
                                                                                                        lotions; bath and shower
                                                                                                        gels; perfumed body creams;
                                                                                                        cosmetic preparations for
                                                                                                        the skin.

                                                                  19-Apr-2000  19-Apr-2000
31281   Burberry Limited    Thailand     BURBERRYS         3      119007       Kor149238    REG         Essential oils,perfumes,
                                                                                                        perfumed soap, toilet soap,
                                                                                                        cosmetic preparations for
                                                                                                        the bath, anti-perspirants,
                                                                                                        shampoos and conditioners
                                                                                                        for the hair, eau de
                                                                                                        cologne, toilet water,
                                                                                                        cosmetics for the hair,
                                                                                                        cosmetics for the eyes,
                                                                                                        cosmetics for the lips,
                                                                                                        cosmetics for the nails,
                                                                                                        skin cream and lotion,
                                                                                                        cosmetics preparations for
                                                                                                        skin care, shaving
                                                                                                        preparations (cosmetics).

                                                                  22-Jul-1981  22-Jul-1981
2140    Burberry Limited    Thailand     Equestrian        3      417146       Kor129970 REG            Class 3: Perfume; cosmetic
                                         Knight Device                                                  preparations for the teet;
                                                                                                        cosmetics preparations for
                                                                                                        the hair; soaps; shampoos;
                                                                                                        anti-perspirants; eau de
                                                                                                        toilette; eau de cologne;
                                                                                                        deodorants; essential oils;
                                                                                                        shaving preparations;
                                                                                                        aftershave preparations; pot
                                                                                                        pourri; perfumed body
                                                                                                        lotions; bath and shower
                                                                                                        gels; perfumed body creams;
                                                                                                        cosmetic preparations for
                                                                                                        skin care.

                                                                  19-Apr-2000  19-Apr-2000
31289   Burberry Limited    Tunisia      BURBERRYS         3                   EE96.0871    REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                               28-Sep-1981
</TABLE>
                                      180
<PAGE>
               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2209/
WP-TR   Burberry Limited    Turkey       BURBERRY          3      733385       733385       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  25-Apr-2000  25-Apr-2001
2211/
WP-TR   Burberry Limited    Turkey       Burberry Check    3      732879       732879       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      181
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
31296   Burberry Limited    Turkey       BURBERRYS         3      58667/81     129539       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.
                                                                  29-Jun-1981  29-Jun-1981

31296/
PRIOR1  Burberry Limited    Turkey       BURBERRYS         3      58667/81     71830        REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetic preparations,
                                                                                                        soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water.

                                                                  29-Jun-1981  29-Jun-1981

2210/
WP-TR   Burberry Limited    Turkey       Equestrian        3      732707       732707       REG         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                               25-Apr-2000     25-Apr-2001

2654    Burberry Limited    Ukraine      BURBERRY          3      2000062814   27705        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  30-Jun-2000  15-Oct-2002
2660    Burberry Limited    Ukraine      Burberry Check    3      2000062815   27706        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  30-Jun-2000  15-Oct-2002
</TABLE>
                                      182
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
40574   Burberry Limited    Ukraine      BURBERRYS         3      93126146     10041        REG         Non-medicated toilet
                                                                                                        preparations; cosmetics;
                                                                                                        perfumes, perfumery, soaps,
                                                                                                        essential oils, preparations
                                                                                                        for the teeth and hair;
                                                                                                        shampoos; talc, dusting
                                                                                                        powder, bath foam, bath gel,
                                                                                                        shower gel;
                                                                                                        anti-perspirants,
                                                                                                        deodorants, deodorant
                                                                                                        sticks; toilet water, eau de
                                                                                                        toilette, cologne, cologne
                                                                                                        spray, oil mist spray;
                                                                                                        shaving cream, shaving foam,
                                                                                                        shaving soap, skin creams,
                                                                                                        anti-wrinkle creams,
                                                                                                        moisturisers, moisture
                                                                                                        cream, anti-ageing eye balm,
                                                                                                        night cream, day cream, hand
                                                                                                        cream, body moisturiser,
                                                                                                        cleansing cream,
                                                                                                        depilatories, razor burn
                                                                                                        soother, sun tan lotions,
                                                                                                        oils, sprays, mists and
                                                                                                        gels, bronzing oil mist, oil
                                                                                                        free tanning mist, bronzing
                                                                                                        gels, mists and sprays,
                                                                                                        after sun moisturiser, self
                                                                                                        tanning lotions, ultra sun
                                                                                                        block.

                                                                  28-Dec-1993  30-Jun-1998

2659    Burberry Limited    Ukraine      Equestrian        3      2000062813   27704        REG         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  30-Jun-2000  15-Oct-2002

2506    Burberry Limited    United Arab  Burberry Check    3      36982        43655        REG         Class 3: Non-medicated
                            Emirates                                                                    toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  18-Jun-2000  18-Nov-2003

51894   Burberry Limited    United Arab  BURBERRYS         3      19076        15078        REG         Non-medicated toilet
                            Emirates                                                                    preparations, perfumes,
                                                                                                        perfumery, cosmetic
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, shower and bath
                                                                                                        gels, skin creams, dusting
                                                                                                        powder, talc, deodorants,
                                                                                                        anti-perspirants, oil mist
                                                                                                        sprays, bronzing gel,
                                                                                                        moisturising and cleansing
                                                                                                        preparations, eau-de-cologne
                                                                                                        and toilet water, essential
                                                                                                        oils, shaving preparations,
                                                                                                        pot pourri.

                                                                               26-Oct-1996  09-May-1998
</TABLE>
                                      183
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2209    Burberry Limited    United       BURBERRY          3      2225986      2225986      REG         Class 3: Non-medicated
                            Kingdom                                                                     toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  15-Mar-2000  15-Mar-2000

2211    Burberry Limited    United       Burberry Check    3      2225922      2225922      REG         Class 3: Non-medicated
                            Kingdom                                                                     toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  15-Mar-2000  15-Mar-2000

42265   Burberry Limited    United       BURBERRYS         3      1572793      1572793      REG         Non-medicated toilet
                            Kingdom                                                                     preparations, perfumes,
                                                                                                        cosmetic preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri;
                                                                                                        all included in Class 3.

                                                                  20-May-1994     20-May-1994

32184   Burberry Limited    United       BURBERRYS         3      1157172      1157172      REG         Non-medicated toilet
                            Kingdom                                                                     preparations, perfumes,
                                                                                                        cosmetics, soaps, shampoos,
                                                                                                        preparations for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water

                                                                  07-Jul-1981  07-Jul-1981
</TABLE>
                                      184
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
30169   Burberry Limited    United       EQUESTRIAN        3      1431028      1431028      REG         Non-medicated toilet
                            Kingdom      KNIGHT Device                                                  preparations, perfumes,
                                                                                                        cosmetic preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri;
                                                                                                        all included in Class 3,
                                                                  09-Jun-1990  09-Jun-1990
2210    Burberry Limited    United       Equestrian        3      2225878      2225878      REG         Class 3: Non-medicated
                            Kingdom      Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  15-Mar-2000  15-Mar-2000
2674    Burberry Limited    United       PRORSUM           3      2235436      2235436      REG         Class 3: Non-medicated
                            Kingdom                                                                     toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  09-Jun-2000  09-Jun-2000
</TABLE>
                                      185
<PAGE>

              REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2410    Burberry Limited    U.S.A.       Burberry Check    3      76/197,401   2689921      REG         Class 3: Perfumes, eau de
                                                                                                        toilettes, body lotion;
                                                                                                        soaps; personal deodorants;
                                                                                                        eau de parfums, aftershaves;
                                                                                                        shampoo for the hair and for
                                                                                                        the body; shower gels; bath
                                                                                                        gels.

                                                                  13-Jun-2000  25-Feb-2003
2485    Burberry Limited    U.S.A.       Burberry Check    3      76/069,308   2732617      REG         Class 3: Perfumes, eau de
                                         (Black&White)                                                  toilettes, eau de parfums;
                                                                                                        body lotions, soaps;
                                                                                                        personal deodorants;
                                                                                                        aftershave; shamppp for the
                                                                                                        hair and for the body;
                                                                                                        shower gels; bath gels.

                                                                  13-Jun-2000  01-Jul-2003
</TABLE>
                                      186
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS
<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2363    Burberry Limited    U.S.A.       Equestrian        3, 18  76/069,307   2,512,119    REG         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations, namely,
                                                                                                        perfumes, eau de cologne,
                                                                                                        and toliet water, essential
                                                                                                        oils for personal use,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        namely toothpastes,
                                                                                                        shampoos, conditioners, hair
                                                                                                        sprays, hair gels, soaps for
                                                                                                        the body, shower gels and
                                                                                                        bath gels and bath foams;
                                                                                                        anti-perspirants and
                                                                                                        deodorants; shaving
                                                                                                        preparations and pot pourri.

                                                                  13-Jun-2000  27-Nov-2001
31312   Burberry Limited    Uruguay      BURBERRY          3      187337       350.645      REG         Class 3 - Perfumery,
                                                                                                        cosmetics, and toilet goods.

                                                                  16-Sep-1982  25-Nov-1983
2477    Burberry Limited    Uruguay      Burberry Check    3      323.451      323.451      REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  07-Jun-2000  18-Dec-2000
31310   Burberry Limited    Uruguay      BURBERRYS         3      175871       245245       REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations; soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair; articles
                                                                                                        of luggage, handbags,
                                                                                                        travelling bags.

                                                                  11-Jul-1980  02-Jul-1981
</TABLE>

                                      187
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2446    Burberry Limited    Uruguay      Equestrian        3      323.452      323.452      REG         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  07-Jun-2000  18-Dec-2000
31311   Burberry Limited    Uruguay      PRORSUM Label     3      175872       245246       REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations; soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair.

                                                                  11-Jul-1980
40573   Burberry Limited    Uzbekistan   BURBERRYS         3      MBGU         02-Jul-1981
                                                                  9401220.3    5455         REG         Non-medicated toilet
                                                                                                        preparations; cosmetics;
                                                                                                        perfumes, perfumery, soaps,
                                                                                                        essential oils, preparations
                                                                                                        for the teeth and hair;
                                                                                                        shampoos; talc, dusting
                                                                                                        powder, bath foam, bath gel,
                                                                                                        shower gel;
                                                                                                        anti-perspirants,
                                                                                                        deodorants, deodorant
                                                                                                        sticks; toilet water, eau de
                                                                                                        toilette, cologne, cologne
                                                                                                        spray, oil mist spray;
                                                                                                        shaving lotion, after shave
                                                                                                        lotion, after shave
                                                                                                        emulsion, pre-shave lotion,
                                                                                                        shaving cream, shaving foam,
                                                                                                        shaving soap, skin creams,
                                                                                                        anti-wrinkle creams,
                                                                                                        moisturisers, moisture
                                                                                                        cream, anti-ageing eye balm,
                                                                                                        night cream, day cream, hand
                                                                                                        cream, body moisturiser,
                                                                                                        cleansing cream,
                                                                                                        depilatories, razor burn
                                                                                                        soother, sun tan lotions,
                                                                                                        oils, sprays, mists and
                                                                                                        gels, bronzing oil mist and
                                                                                                        bronzing gels;, oil free
                                                                                                        tanning mist, mists and
                                                                                                        sprays, after sun
                                                                                                        moisturiser, self tanning
                                                                                                        lotions, ultra sun block.

                                                                  21-Sep-1994  18-Nov-1996
31315   Burberry Limited    Venezuela    BURBERRYS         3      6382-80      106639-F     REG         Toilet preparations,
                                                                                                        perfumes, cosmetic
                                                                                                        preparations; soaps, toilet
                                                                                                        preparations for the teeth
                                                                                                        and for the hair. (National
                                                                                                        and foreign products).

                                                                  29-Aug-1980  15-Feb-1984
</TABLE>

                                      188
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2101    Burberry Limited    Vietnam      BURBERRY          3      N2000/0872   39995        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri..

                                                                  10-Mar-2000  20-Feb-2002
2176    Burberry Limited    Vietnam      Burberry Check    3      N2000/0874   49935        REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  10-Mar-2000  20-Jun-2003
</TABLE>

                                      189
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2141    Burberry Limited    Vietnam      Equestrian        3      N20000873    39996        REG         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  10-Mar-2000  20-Feb-2002
2209/W  Burberry Limited    WIPO         BURBERRY          3      733385       733385       REG         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        cosmetics preparations for
                                                                                                        the teeth and for the hair,
                                                                                                        soaps, shampoos,
                                                                                                        anti-perspirants, eau de
                                                                                                        Cologne and toilet water,
                                                                                                        essential oils, shaving
                                                                                                        preparations, pot pourri.

                                                                  25-Apr-2000   25-Apr-2000
</TABLE>

                                      190
<PAGE>

               REPORT 8 - TM FILE - LISTING BY REG. OWNER WITH GOODS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2211/W  Burberry Limited    WIPO         Burberry Check    3      732879       732879       REG         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de Cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
2210/W  Burberry Limited    WIPO         Equestrian        3      732707       732707       REG         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  25-Apr-2000  25-Apr-2000
</TABLE>
                                      191
<PAGE>

                      BURBERRY'S PENDINGTRADE MARKS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2430    Burberry Limited    Brazil       BURBERRY          3      822964120                 PEN         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  13-Jul-2000
2469    Burberry Limited    Brazil       Burberry Check    3      822964201                 PEN         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  13-Jul-2000
2442    Burberry Limited    Brazil       Equestrian        3      822964171                 PEN         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  13-Jul-2000
</TABLE>
                                      192
<PAGE>

                         BURBERRY'S PENDING TRADE MARKS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
3231    Burberry Limited    Canada       Burberry Check    3      1147603                   PEN         Class 3: Non-medicated
                                         (Black & White)                                                toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  22-Jul-2002
2555    Burberry Limited    Cyprus       BURBERRY          3      56480                     PEN         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  16-May-2000
2788    Burberry Limited    Cyprus       Burberry Check    3      58763                     PEN         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  12-Dec-2000
2376    Burberry Limited    Egypt        BURBERRY          3      135157                    PEN         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  08-Aug-2000
</TABLE>
                                      193
<PAGE>
                         BURBERRY'S PENDING TRADE MARKS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2398    Burberry Limited    Egypt        Burberry Check    3      135160                    PEN         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  08-Aug-2000
3237    Burberry Limited    European     Thomas Burberry   3      002948891                 PEN         Class 3: Non-medicated
                            Union        Script with                                                    toilet preparations, Flag
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  27-Nov-2002
2068    Burberry Limited    Fiji         BURBERRY          3      130/2000                  PEN         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  18-May-2000
2150    Burberry Limited    Hong Kong    Burberry Check    3      3631/2000                 PEN         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  23-Feb-2000
</TABLE>

                                      194
<PAGE>

                         BURBERRY'S PENDING TRADE MARKS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2093    Burberry Limited    India        BURBERRY          3      905509                    PEN         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  23-Feb-2000
2117    Burberry Limited    India        Equestrian        3      905513                    PEN         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  23-Feb-2000
2119    Burberry Limited    Indonesia    Equestrian        3      D004357                   PEN         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  09-Mar-2000
2651    Burberry Limited    Japan        Burberry Check    3      2000-61984   4493210      PEN         Class 3: Shampoos, cleansing
                                                                                                        preparations for the skin
                                                                                                        (excluding medical use),and
                                                                                                        other soaps; essential oils,
                                                                                                        pot pourri, and other
                                                                                                        fragrance and flavourings;
                                                                                                        eau de colognes, and other
                                                                                                        toilet waters, shaving
                                                                                                        creams, hair cosmetics,
                                                                                                        perfumes and other
                                                                                                        cosmetics; dentifrices.

                                                                  06-Jun-2000

</TABLE>

                                      195
<PAGE>

                         BURBERRY'S PENDING TRADE MARKS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
3265    Burberry Limited    Japan        Burberry Check    3      2003-78132                PEN         Class 3: Non-medicated
                                         (Pink)                                                         toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair,
                                                                                                        anti-perspirants, eau de
                                                                                                        cologne, toilet water,
                                                                                                        shaving preparations, other
                                                                                                        cosmetics, soaps, shampoos,
                                                                                                        other soaps and detergents,
                                                                                                        essential oils, pot pourri,
                                                                                                        other perfumery, fragrances
                                                                                                        and incenses.

                                                                  09-Sep-2003
</TABLE>
                                      196
<PAGE>
                         BURBERRY'S PENDING TRADE MARKS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2906    Burberry Limited    Korea        Burberry in       3      45-2002-705               PEN         Class 3: Face powder, skin
                            (South)      Korean                                                         lotion, facial cream,
                                         Characters                                                     cleansing cream,
                                                                                                        anti-perspirants, body
                                                                                                        deodorants, perfumes,
                                                                                                        toothpaste, hair tonic, hair
                                                                                                        dying agent, hair spray,
                                                                                                        hair de-colouring agent,
                                                                                                        shampoo, toilet soap, liquid
                                                                                                        soap, bath soaps, cosmetic
                                                                                                        soaps, deodorant soaps,
                                                                                                        cream soaps, medicated
                                                                                                        soaps, shaving soaps, eau de
                                                                                                        cologne, common toilet
                                                                                                        water, essential oils for
                                                                                                        personal use, shaving
                                                                                                        creams, potpourri
                                                                                                        (fragrance), and talcum
                                                                                                        powder for toilet use.

                                                                  22-Feb-2002
2495    Burberry Limited    Kuwait       Equestrian        3      49993                     PEN         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  09-May-2001
</TABLE>

                                      197
<PAGE>
                         BURBERRY'S PENDING TRADE MARKS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2167    Burberry Limited    Malaysia     Burberry Check    3      2000/04039                PEN         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  07-Apr-2000
3203    Burberry Limited    Norway       Thomas Burberry   3      200206704                 PEN         Class 3: Non-medicated
                                                                                                        toilet preparations, Shield
                                                                                                        Device perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  22-Jul-2002
2503    Burberry Limited    Oman         Burberry Check    3      22568                     PEN         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  20-May-2000
</TABLE>

                                      198
<PAGE>
                         BURBERRY'S PENDING TRADE MARKS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
2496    Burberry Limited    Oman         Equestrian        3      22569                     PEN         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  20-May-2000
2476    Burberry Limited    Paraguay     Burberry Check    3      12410                     PEN         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  29-May-2000
2104    Burberry Limited    Philippines  BURBERRY          3      4-2000-01953              PEN         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  03-Mar-2000
2169    Burberry Limited    Philippines  Burberry Check    3      4-200-01950               PEN         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  13-Mar-2000
2129    Burberry Limited    Philippines  Equestrian        3      4-2000-01954              PEN         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  13-Mar-2000
2198    Burberry Limited    Philippines  PRORSUM           3      4-2000-01620              PEN         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.
                                                                  03-Mar-2000
2504    Burberry Limited    Qatar        Burberry Check    3      22864                     PEN         Class 3: Non-medicated
                                                                                                        toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  20-May-2000
</TABLE>
                                      199
<PAGE>

                         BURBERRY'S PENDING TRADE MARKS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
51889   Burberry Limited    Qatar        BURBERRYS         3      15644                     PEN         Non-medicated toilet
                                                                                                        preparations, perfumes,
                                                                                                        perfumery, cosmetic
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, shower and bath
                                                                                                        gels, skin creams, dusting
                                                                                                        powder, talc, deodorants,
                                                                                                        anti-perspirants, oil mist
                                                                                                        sprays, bronzing gel,
                                                                                                        moisturising and cleansing
                                                                                                        preparations, eau-de-cologne
                                                                                                        and toilet water, essential
                                                                                                        oils, shaving preparations,
                                                                                                        pot pourri.

                                                                  05-Sep-1996
2497    Burberry Limited    Qatar        Equestrian        3      22865                     PEN         Class 3: Non-medicated
                                         Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  20-May-2000
2498    Burberry Limited    Saudi        Equestrian        3      64910                     PEN         Class 3: Non-medicated
                            Arabia       Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  06-Jun-2000
2421    Burberry Limited    South        Equestrian        3      2000/08271                PEN         Class 3: Non-medicated
                            Africa       Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  04-May-2000
2499    Burberry Limited    United Arab  Equestrian        3      36981                     PEN         Class 3: Non-medicated
                            Emirates     Knight Device                                                  toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  18-Jun-2000
</TABLE>
                                      200
<PAGE>
                         BURBERRY'S PENDING TRADE MARKS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
3261    Burberry Limited    United       Burberry Check    3      2338837                   PEN         Class 3: Non-medicated
                            Kingdom      (Black & White                                                 toilet preparations,
                                         - With  Text)                                                  perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  16-Jul-2003
3260    Burberry Limited    United       Burberry Check    3      2338838                   PEN         Class 3: Non-medicated
                            Kingdom      (Black & White)                                                toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  16-Jul-2003
</TABLE>

                                      201
<PAGE>

                         BURBERRY'S PENDING TRADE MARKS

<TABLE>
<CAPTION>
                                                                             APP DATE
TMID    REGISTERED OWNER    COUNTRY      TRADEMARK        CLASS  APP NO   REG NO/ REG DATE  STATUS      GOODS
<C>     <C>                 <C>          <C>              <C>    <C>           <C>          <C>         <C>
3262    Burberry Limited    United       Icon Stripe       3      2339137                   PEN         Class 3: Non-medicated
                            Kingdom                                                                     toilet preparations,
                                                                                                        perfumes, cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair, soaps,
                                                                                                        shampoos, anti-perspirants,
                                                                                                        eau de cologne and toilet
                                                                                                        water, essential oils,
                                                                                                        shaving preparations, pot
                                                                                                        pourri.

                                                                  19-Jul-2003
3287    Burberry Limited    U.S.A.       BURBERRY LONDON   3      76/564751                 PEN         Class 3: Non-medicated
                                                                                                        toilet preparations, namely
                                                                                                        perfumes, eau de cologne and
                                                                                                        toilet water, essential oils
                                                                                                        for personal use; cosmetics
                                                                                                        preparations for the teeth
                                                                                                        and for the hair; namely
                                                                                                        toothpastes, shampoos,
                                                                                                        conditioners, hair sprays,
                                                                                                        hair gels, soaps for the
                                                                                                        body, shower gels and bath
                                                                                                        gels and bath foams;
                                                                                                        anti-perspirants and
                                                                                                        deodorants, shaving
                                                                                                        preparations, pot pourri.

                                                                  11-Dec-2003
</TABLE>

                                      202
<PAGE>

                   VARIED TRADE NAMES - CLASS 3 - REGISTERED

<TABLE>
<CAPTION>
                                                           APP DATE
       REGISTERED                                          REG NO/
TMID   OWNER      COUNTRY    TRADEMARK CLASS  APP NO       REG DATE     STATUS  GOODS
<S>    <C>        <C>        <C>       <C>    <C>          <C>          <C>     <C>
2744   Burberry   Argentina  BURBERRY  3      2309912      1866381      REG     Class 3: Non-medicated toilet preparations,
       Limited               TOUCH                                              perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                              03-Oct-2000  08-Apr-2002
2999   Burberry   Argentina  Rocking   3      2371451      1918469      REG     Class 3: Non-medicated toilet preparations,
       Limited               Lamb                                               perfumes, cosmetics preparations for the teeth and
                             Device                                             for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                              09-Apr-2002  17-Mar-2003
57210  Burberry   Argentina  Week end  3      2098877      1754051      REG     All goods in the class.
       Limited               Burberrys
                             OF
                             LONDON
                             (stylised)

                                              20-Aug-1997  23-Sep-1999
2745   Burberry   Australia  BURBERRY  3      852432       852432       REG     Class 3: Non-medicated toilet preparations,
       Limited               TOUCH                                              perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                              05-Oct-2000  05-Oct-2000
3033/WPBurberry   Australia  Rocking   3      779836       779636       REG     Class 3: Non-medicated toilet preparations,
       Limited               Lamb                                               perfumes, cosmetics preparations for the teeth and
                             Device                                             for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                              30-Apr-2002  30-Apr-2002
57872  Burberry   Australia  Week end  3      748014       748014       REG     Non-medicated toilet preparations, perfumes, soaps,
       Limited               Burberrys                                          shower and bath gels, deodorants, anti-perspirants,
                             OF                                                 eau-de-cologne and toilet water, pre-shave lotion,
                             LONDON                                             after-shave lotion.
                             (stylised)

                                              06-Nov-1997  06-Nov-1997
3013   Burberry   Bahrain    Rocking   3      31209        31209        REG     Class 3: Non-medicated toilet preparations,
       Limited               Lamb                                               perfumes, cosmetics preparations for the teeth and
                             Device                                             for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                              13-Apr-2002  13-Apr-2002
2746   Burberry   Bolivia    BURBERRY  3      SM-4468-00   86223C       REG     Class 3: Non-medicated toilet preparations,
       Limited               TOUCH                                              perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                              13-Oct-2000  20-May-2002

</TABLE>

                                      203
<PAGE>

                   VARIED TRADE NAMES - CLASS 3 - REGISTERED

<TABLE>
<CAPTION>
                                                             APP DATE
       REGISTERED                                            REG NO/
TMID   OWNER      COUNTRY    TRADEMARK   CLASS  APP NO       REG DATE   STATUS  GOODS
<S>    <C>        <C>        <C>         <C>    <C>          <C>         <C>    <C>
60714  Burberry   Bolivia    Week end    3      8414         78419        REG   Perfumes, perfumery products, cologne and eau de
       Limited               Burberrys                                          toilette, soaps, shower gel, bath gel, bath foam,
                             OF                                                 deodorant, moisturising products for the body,
                             LONDON                                             toilet talc, anti-ageing eye balm, anti-wrinkle
                             (stylised)                                         cream, after shave emulsion, pre-shave lotion, razor
                                                                                burn soother.

                                                25-Jun-1998  04-May-2000
58087  Burberry   Brazil     Week end    3      820203572    820203572    REG   Non-medicated toilet preparations, perfumes, toilet
       Limited               Burberrys                                          soaps, shower gels, deodorants, anti-perspirants,
                             OF                                                 eau de cologne and toilet water, pre-shave lotion,
                             LONDON                                             after shave lotion.
                             (stylised)

                                                29-Aug-1997  28-May-2002
2749   Burberry   Canada     BURBERRY    3      1079247      582854       REG   Class 3: Non-medicated toilet preparations,
       Limited               TOUCH                                              perfumes, cosmetics, soaps, shampoos,
                                                                                anti-perspirants, eau de cologne and toilet water,
                                                                                shaving preparations,perfumes, essential oils.

                                                18-Oct-2000  30-May-2003

60689  Burberry   Canada     Week end    3      887486       537879       REG   Perfumery products and toiletries, namely perfumes,
       Limited               Burberrys                                          cologne, eau de toilette, soaps, shower gel, bath
                             OF                                                 gel, bath foam, deodorant, body moisturizers, toilet
                             LONDON                                             talc, anti-ageing eye balm, anti-wrinkle cream,
                             (stylised)                                         after shave emulsion, pre-shave lotion, razor burn
                                                                                soother.

                                                17-Aug-1998  28-Nov-2000
3302   Burberry   Chile      Burberry    3      626.780      692.316      REG   Class 3: Non-medicated toilet preparations,
       Limited               Brit                                               perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                03-Nov-2003  21-Apr-2004
3321   Burberry   Chile      Burberry    3      627067       691.319      REG   Class 3: Non-medicated toilet preparations,
       Limited               Tender
                             Touch
                                                                                perfumes, cosmetics, preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.
                                                05-Nov-2003  21-Apr-2004
2740   Burberry   Chile      BURBERRY    3      503.408      591401       REG   Class 3: Non-medicated toilet preparations,
       Limited               TOUCH                                              perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                04-Oct-2000  06-Mar-2001

</TABLE>

                                      204
<PAGE>

                   VARIED TRADE NAMES - CLASS 3 - REGISTERED

<TABLE>
<CAPTION>
                                                            APP DATE
       REGISTERED                                           REG NO/
TMID   OWNER      COUNTRY    TRADEMARK  CLASS  APP NO       REG DATE      STATUS GOODS
<S>    <C>        <C>        <C>        <C>    <C>          <C>            <C>   <C>

3001   Burberry   Chile      Rocking    3      564.329       638.907        REG Class 3: Non-medicated toilet preparations,
       Limited               Lamb                                               perfumes, cosmetics preparations for the teeth and
                             Device                                             for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                               12-Apr-2002   09-Aug-2002
56479  Burberry   Chile      Week end   3      387850        509752         REG Non-medicated toilet preparations, perfumes, soaps,
       Limited               Burberrys                                          shower and bath gels, deodorants, anti-perspirants,
                             OF                                                 eau-de-cologne and toilet water, pre-shave lotion,
                             LONDON                                             after-shave lotion.
                             (stylised)

                                               21-Aug-1997   13-Apr-1998
2741   Burberry   Colombia   BURBERRY   3      77014         237748         REG Class 3: Non-medicated toilet preparations,
       Limited               TOUCH                                              perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                               10-Oct-2000   19-Jun-2001
56480  Burberry   Colombia   Week end   3      97049318      232817         REG Non-medicated toilet preparations, perfumes, soaps,
       Limited               Burberrys                                          shower and bath gels, deodorants, anti-perspirants,
                             OF                                                 eau-de-cologne and toilet water, pre-shave lotion,
                             LONDON                                             after-shave lotion.
                             (stylised)

                                               27-Aug-1997   13-Apr-1998
3003   Burberry   Costa Rica Rocking    3                    135.787        REG Class 3: Non-medicated toilet preparations,
       Limited               Lamb                                               perfumes, cosmetics preparations for the teeth and
                             Device                                             for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                               12-Apr-2002   12-Nov-2002
2729/  Burberry   Czech      BURBERRY   3      746063        746063         REG Class 3: Non-medicated toilet preparations,
WP-CZ  Limited    Republic   TOUCH                                              perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                               23-Oct-2000   23-Oct-2000
3339   Burberry   Denmark    Burberry   3      VA 2004 00650 VR 2004 00682  REG Class 3: Non-medicated toilet preparations,
       Limited               Tender                                             perfumes, cosmetics, preparations for the teeth and
                             Touch                                              for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                17-Feb-2004  27-Feb-2004

</TABLE>

                                      205
<PAGE>

                   VARIED TRADE NAMES - CLASS 3 - REGISTERED

<TABLE>
<CAPTION>
                                                             APP DATE
       REGISTERED                                            REG NO/
TMID   OWNER      COUNTRY    TRADEMARK   CLASS  APP NO       REG DATE   STATUS  GOODS
<S>    <C>        <C>        <C>         <C>    <C>          <C>         <C>    <C>
3004   Burberry   Ecuador    Rocking     3      123239       19655       REG    Class 3: Non-medicated toilet preparations,
       Limited               Lamb                                               perfumes, cosmetics preparations for the teeth and
                             Device                                             for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                23-Apr-2002  05-Mar-2003
2523   Burberry   European   BURBERRY    3      001695949    001695949   REG    Class 3: Non-medicated toilet preparations,
       Limited    Union      TOUCH                                              perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                24-May-2000  24-May-2000
2978   Burberry   European   Rocking     3,     002645182    002645182   REG    Class 3: Non-medicated toilet preparations,
       Limited    Union      Lamb        21,                                    perfumes, talcum powder, cosmetic preparations for
                             Device      25                                     the teeth and for the hair, soaps, all over wash;
                                                                                shampoos, anti-perspirants, eau de cologne, eau de
                                                                                toilette (with or without alcohol) and toilet water,
                                                                                essential oils, baby balm, massage oil, pot pourri.

                                                05-Apr-2002  26-Jun-2003
62868  Burberry   European   Week end    3      497784       497784      REG    Perfumes, perfumery products, cologne and eau de
       Limited    Union      Burberrys                                          toilette, soaps, shower gel, bath gel, bath foam,
                             OF                                                 deodorant for personal use, moisturising products
                             LONDON                                             for the body, toilet talc, anti-aging eye balm,
                             (stylised)                                         anti-wrinkle cream, after-shave emulsion, pre-shave
                                                                                lotion, razor burn soother.

                                                13-Mar-1997  13-Mar-1997

</TABLE>

                                      206
<PAGE>

                   VARIED TRADE NAMES - CLASS 3 - REGISTERED

<TABLE>
<CAPTION>
                                                            APP DATE
       REGISTERED                                           REG NO/
TMID   OWNER      COUNTRY    TRADEMARK  CLASS APP NO        REG DATE     STATUS GOODS
<S>    <C>        <C>        <C>        <C>   <C>           <C>           <C>   <C>
3266   Burberry   France     Burberry   3     03 3 242 506  03 3 242 506  REG   Class 3: Non-medicated toilet preparations,
       Limited               Tender                                             perfumes, cosmetics preparations for the teeth and
                             Touch                                              for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                              22-Aug-2003   22-Aug-2003
2695   Burberry   France     BURBERRY   3     3036772       3036772        REG  Class 3: Non-medicated toilet preparations,
       Limited               TOUCH                                              perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                              26-Jun-2000   26-Jun-2000
56501  Burberry   France     Week end   3     97/667077     97667077       REG  Perfumes, perfumery products, toilet water,
       Limited               Burberrys                                          eau-de-cologne, soaps, shower and bath gel, bath
                             OF                                                 mousse, deodorants, talc, anti-wrinkle gel for the
                             LONDON                                             eyes, anti-wrinkle cream, pre-shave lotion,
                             (stylised)                                         after-shave lotion.

                                              05-Mar-1997   05-Mar-1997
2750   Burberry   Hong Kong  BURBERRY   3     22046/2000    04272/2002     REG  Class 3: Non-medicated toilet preparations,
       Limited               TOUCH                                              perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri; all included in Class 3..
                                              05-Oct-2000   10-May-2000
3008   Burberry   Hong Kong  Rocking    3     2002/05185    03746/2003     REG  Class 3: Non-medicated toilet preparations,
       Limited               Lamb                                               perfumes, cosmetics preparations for the teeth and
                             Device                                             for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                              15-Apr-2002   15-Apr-2002

</TABLE>

                                      207
<PAGE>

                   VARIED TRADE NAMES - CLASS 3 - REGISTERED

<TABLE>
<CAPTION>
                                                                APP DATE
            REGISTERED                                          REG NO/
TMID        OWNER      COUNTRY    TRADEMARK  CLASS APP NO       REG DATE  STATUS GOODS
<S>         <C>        <C>        <C>        <C>   <C>          <C>        <C>   <C>
2711        Burberry   Hong Kong  Week end   3     97 18052     12080/1998  REG Non- medicated toilet prearations, perfumes, soaps,
            Limited               BURBERRYS                                     shower and bath gels, deodorants and
                                  (stylised)                                    anti-perspirants for personal use, eau-de-cologne
                                                                                and toilet water, pre-shave lotions, after-shave
                                                                                ;otions; all included in Class 3

                                                   22-Dec-1997  22-Dec-1997
2729/WP-HU  Burberry   Hungary    BURBERRY   3     746063       746063      REG Class 3: Non-medicated toilet preparations,
            Limited               TOUCH                                         perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                   23-Oct-2000  23-Oct-2000
56765       Burberry   Indonesia  Week end   3     D97-20169    426.286     REG Non-medicated toilet preparations, perfumes, soaps,
            Limited               Burberrys                                     shower and bath gels; deodorants, anti-perspirants,
                                  OF                                            eau-de-cologne and toilet water, pre-shave lotion
                                  LONDON                                        and after-shave lotion.
                                  (stylised)

                                                   18-Sep-1997  18-Sep-1997
2751        Burberry   Israel     BURBERRY   3     142576       142576      REG Class 3: Non-medicated toilet preparations,
            Limited               TOUCH                                         perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                   04-Oct-2000  04-Dec-2001
3014        Burberry   Israel     Rocking    3     156330       156330      REG Class 3: Non-medicated toilet preparations,
            Limited               Lamb Device                                   perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                   10-Apr-2002  03-Apr-2003
60687       Burberry   Israel     Week end   3     120204       120204      REG Perfumes, perfumery products, cologne and eau de
            Limited               Burberrys                                     toilette, soaps, shower gel, bath gel, bath foam,
                                  OF                                            deodorant, moisturising products for the body,
                                  LONDON                                        toilet talc, anti-ageing eye balm, anti-wrinkle
                                  (stylised)                                    cream, after shave emulsion, pre-shave lotion, razor
                                                                                burn soother.

                                                   10-Jun-1998  05-Oct-1999

</TABLE>

                                      208
<PAGE>

                   VARIED TRADE NAMES - CLASS 3 - REGISTERED

<TABLE>
<CAPTION>
                                                              APP DATE
            REGISTERED                                        REG NO/
TMID        OWNER      COUNTRY  TRADEMARK  CLASS APP NO       REG DATE  STATUS  GOODS
<S>         <C>        <C>      <C>        <C>   <C>          <C>         <C>   <C>
2729/WP-JP  Burberry   Japan    BURBERRY    3    746063        746063     REG   Class 3: Non-medicated toilet preparations,
            Limited             TOUCH                                           perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                 23-Oct-2000   23-Oct-2000
3009        Burberry   Japan    Rocking     3    2002-36095    4647041    REG   Class 3: Shampoo and other soaps, fragrances and
            Limited             Lamb Device                                     flavourings, toilet waters, eau de colognes,
                                                                                perfumes and other cosmetics, dentifrices.

                                                 02-May-2002   21-Feb-2003
60682       Burberry   Jordan   Week end    3    50426         50426      REG   Perfumes, perfumery products, cologne and eau de
            Limited             Burberrys                                       toilette, soaps, shower gel, bath gel, bath foam,
                                OF                                              deodorant, moisturising products for the body,
                                LONDON                                          toilet talc, anti-ageing eye balm, anti-wrinkle
                                (stylised)                                      cream, after shave emulsion, pre-shave lotion, razor
                                                                                burn soother.

                                                 23-Jun-1998   23-Jun-1998
2752        Burberry   Korea    BURBERRY    3    40-2000-49643 514908     REG   Class 3: Perfume, perfumed oil, general toilet
            Limited    (South)  TOUCH                                           water, face powder, skin lotion, facial cream, eau
                                                                                de cologne, cleansing cream, foundation cream,
                                                                                powdered perfume, hair tonic, hair dyeing agent,
                                                                                hair spray, hair decolouring agent, shaving gel,
                                                                                shaving foam, shaving mousse, shaving lotion, pot
                                                                                pourris perfumes, toilet soap, washing soap,
                                                                                medicated soap, bath soap. liquid soap, deodorant
                                                                                soap, shampoos, dentifrices, anti-perspirants and
                                                                                essential oils.

                                                 24-Oct-2000   14-Mar-2002

</TABLE>

                                      209
<PAGE>

                   VARIED TRADE NAMES - CLASS 3 - REGISTERED

<TABLE>
<CAPTION>
                                                              APP DATE
        REGISTERED                                            REG NO/
TMID    OWNER      COUNTRY    TRADEMARK  CLASS APP NO         REG DATE  STATUS  GOODS
<S>     <C>        <C>        <C>        <C>   <C>            <C>        <C>    <C>
3010    Burberry   Korea      Rocking    3     40-2002-17979  40-566466  REG    Class 3: Perfumes, shampoos, anti-perspirants, eau
        Limited    (South)    Lamb                                              de cologne, comon toilet water, essential oils for
                              Device                                            personal use, pot pourri (fragrance), bath oils,
                                                                                bath paoder, baby oils, baby powder, bath salts for
                                                                                non-medical purposes, frangrances for non-medical
                                                                                purposes, sun screen lotions, shaving creams, skin
                                                                                milk, skin fresheners, eye lingers, eye make-up
                                                                                removers, eye shadows, after shave lotions, body
                                                                                deodorants, lip gloss, cleansing cream, face powder,
                                                                                hand cream perfumed oils, hair gels, hair
                                                                                conditioners, hair creams, hair tonics, toilet bath
                                                                                salts, cleansing milk for toilet purposes, liquid
                                                                                soaps, shaving soaps, deodorant soaps, bath soaps,
                                                                                cosmetic soaps, paper soaps, cream soaps, hair
                                                                                rinses, toilet soaps and toothpaste.

                                               19-Apr-2002    25-Nov-2003
61923   Burberry   Korea      Week end   3     97-14024       417515      REG   Non-medicated toilet preparations, perfumes, shower
        Limited    (South)    Burberrys                                         and bath gels, deodorants, anti-perspirants,
                              OF                                                eau-de-cologne and toilet waters, pre-shave lotion,
                              LONDON                                            after-shave lotion.
                              (stylised)

                                               28-Mar-1997    21-Aug-1998
61921   Burberry   Korea      Week end   3     97-14025       441277      REG   Water soaps and cleanser.
        Limited    (South)    Burberrys
                              OF
                              LONDON
                              (stylised)

                                               28-Mar-1997    10-Feb-1999
60680   Burberry   Kuwait     Week end   3     41206          38953       REG   Perfumes, perfumery products, cologne and eau de
        Limited               Burberrys                                         toilette, soaps, shower gel, bath gel, bath foam,
                              OF                                                deodorant, moisturising products for the body,
                              LONDON                                            toilet talc, anti-ageing eye balm, anti-wrinkle
                              (stylised)                                        cream, after shave emulsion, pre-shave lotion, razor
                                                                                burn soother.

                                               30-Sep-1997    30-Sep-1998
2755    Burberry   Lebanon    BURBERRY   3     96-01-0770755              REG   Class 3: Non-medicated toilet preparations,
        Limited               TOUCH                                             perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                              17-Oct-2000
2742    Burberry   Malaysia   BURBERRY   3     2000/15901     00015901    REG   Class 3: Non-medicated toilet preparations,
        Limited               TOUCH                                             perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                               09-Nov-2000    10-May-2000

</TABLE>

                                      210
<PAGE>

                   VARIED TRADE NAMES - CLASS 3 - REGISTERED

<TABLE>
<CAPTION>
                                                            APP DATE
           REGISTERED                                       REG NO/
TMID       OWNER     COUNTRY   TRADEMARK CLASS APP NO       REG DATE     STATUS GOODS
<S>        <C>       <C>       <C>       <C>   <C>          <C>           <C>   <C>
2996       Burberry  Mauritius Rocking   3                  A/54 No. 100  REG   Class 3: Non-medicated toilet preparations,
           Limited             Lamb                                             perfumes, cosmetics preparations for the teeth and
                               Device                                           for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                               29-Apr-2002  29-Apr-2002
2756       Burberry  Mexico    BURBERRY  3     456456       691278        REG   Class 3: Non-medicated toilet preparations,
           Limited             TOUCH                                            perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                               03-Nov-2000  7-Mar-2001
3005       Burberry  Mexico    Rocking   3     560683       764609        REG   Class 3: Non-medicated toilet preparations,
           Limited             Lamb                                             perfumes, cosmetics preparations for the teeth and
                               Device                                           for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                               12-Aug-2002  21-Jan-2002
2748       Burberry  New       BURBERRY  3     624482       624482        REG   Class 3: Non-medicated toilet preparations,
           Limited   Zealand   TOUCH                                            perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                               04-Oct-2000  10-May-2000
2729/WP-NO Burberry  Norway    BURBERRY  3     746063       746063        REG   Class 3: Non-medicated toilet preparations,
           Limited             TOUCH                                            perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                               23-Oct-2000  23-Oct-2000

</TABLE>

                                      211
<PAGE>

                   VARIED TRADE NAMES - CLASS 3 - REGISTERED

<TABLE>
<CAPTION>
                                                             APP DATE
        REGISTERED                                           REG NO/
TMID    OWNER      COUNTRY    TRADEMARK  CLASS APP NO        REG DATE   STATUS  GOODS
<S>     <C>        <C>        <C>        <C>   <C>           <C>          <C>   <C>
2757    Burberry   Panama     BURBERRY    3    111126        111126 01     REG  Class 3: Non-medicated toilet preparations,
        Limited               TOUCH                                             perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                               09-Nov-2000   22-Apr-2002
60688   Burberry   Panama     Week end    3    095524        095524        REG  Perfumes, perfumery products, cologne and eau de
        Limited               Burberrys                                         toilette, soaps, shower gel, bath gel, bath foam,
                              OF LONDON                                         deodorant, moisturising products for the body,
                              (stylised)                                        toilet talc, anti-ageing eye balm, anti-wrinkle
                                                                                cream, after shave emulsion, pre-shave lotion, razor
                                                                                burn soother.

                                               12-Aug-1996   12-Aug-1998
3304    Burberry   Paraguay   Burberry    3    29327-2003    269372        REG  Class 3: Non-medicated toilet preparations,
        Limited               Brit                                              perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                               11-Nov-2003   14-Jul-2004

</TABLE>

                                      212
<PAGE>

                   VARIED TRADE NAMES - CLASS 3 - REGISTERED

<TABLE>
<CAPTION>
                                                               APP DATE
            REGISTERED                                         REG NO/
TMID        OWNER      COUNTRY   TRADEMARK CLASS  APP NO       REG DATE  STATUS GOODS
<S>         <C>        <C>       <C>       <C>    <C>          <C>         <C>  <C>
2758        Burberry   Paraguay  BURBERRY  3      25639-2000   239741      REG  Class 3: Non-medicated toilet preparations,
            Limited              TOUCH                                          perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                  04-Oct-2000  17-Sep-2001
3006        Burberry   Paraguay  Rocking   3      8638-2002    251852      REG  Class 3: Non-medicated toilet preparations,
            Limited              Lamb                                           perfumes, cosmetics preparations for the teeth and
                                 Device                                         for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                  17-Apr-2002  18-Nov-2002
56764       Burberry   Paraguay  Week end  3      16260-97     209046      REG  Non-medicated toilet preparations, perfumes, soaps,
            Limited              Burberrys                                      shower and bath gels; deodorants, anti-perspirants,
                                 OF                                             eau-de-cologne and toilet water, pre-shave lotion
                                 LONDON                                         and after-shave lotion.
                                 (stylised)

                                                  12-Aug-1997  24-Nov-1998
2743        Burberry   Peru      BURBERRY  3      116126       73351       REG  Class 3: Non-medicated toilet preparations,
            Limited              TOUCH                                          perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                  18-Oct-2000  24-Jul-2001
2729/WP-PL  Burberry   Poland    BURBERRY  3      746063       746063      REG  Class 3: Non-medicated toilet preparations,
            Limited              TOUCH                                          perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                  23-Oct-2000  23-Oct-2000
60683       Burberry   Poland    Week end  3      Z-188243     131939      REG  Perfumes, perfumery products, cologne and eau de
            Limited              Burberrys                                      toilette, soaps, shower gel, bath gel, bath foam,
                                 OF                                             deodorant, moisturising products for the body,
                                 LONDON                                         toilet talc, anti-ageing eye balm, anti-wrinkle
                                 (stylised)                                     cream, after shave emulsion, pre-shave lotion, razor
                                                                                burn soother.

                                                  15-Jun-1998  17-Aug-2001
2729/WP-RO  Burberry   Romania   BURBERRY  3      746063       746063      REG  Class 3: Non-medicated toilet preparations,
            Limited              TOUCH                                          perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                  23-Oct-2000  23-Oct-2000

</TABLE>

                                      213
<PAGE>

                   VARIED TRADE NAMES - CLASS 3 - REGISTERED

<TABLE>
<CAPTION>
                                                               APP DATE
            REGISTERED                                         REG NO/
TMID        OWNER      COUNTRY   TRADEMARK CLASS  APP NO       REG DATE  STATUS GOODS
<S>         <C>        <C>        <C>       <C>   <C>          <C>         <C>  <C>
2729/WP-RU  Burberry   Russian    BURBERRY  3     746063       746063      REG  Class 3: Non-medicated toilet preparations,
            Limited    Federation TOUCH                                         perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                  23-Oct-2000  23-Oct-2000
60681       Burberry   Russian    Week end  3     98710936     98710369    REG  Perfumes, perfumery products, cologne and eau de
            Limited    Federation Burberrys                                     toilette, soaps, shower gel, bath gel, bath foam,
                                  OF                                            deodorant, moisturising products for the body,
                                  LONDON                                        toilet talc, anti-ageing eye balm, anti-wrinkle
                                  (stylised)                                    cream, after shave emulsion, pre-shave lotion, razor
                                                                                burn soother.

                                                  24-Jun-1998  24-Jun-1998
2759        Burberry   Saudi      BURBERRY  3     67923        621/65      REG  Class 3: Non-medicated toilet preparations,
            Limited    Arabia     TOUCH                                         perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                  11-Nov-2000  11-Nov-2000
3019        Burberry   Saudi      Rocking   3     76328        665/59      REG  Class 3: Non-medicated toilet preparations,
            Limited    Arabia     Lamb                                          perfumes, cosmetics preparations for the teeth and
                                  Device                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                  09-Apr-2002  09-Apr-2002
60578       Burberry   Saudi      Week end  3     44986        501/8       REG  Non-medicated toilet preparations, perfumes, soaps,
            Limited    Arabia     Burberrys                                     shower and bath gels, deodorants, anti-perspirants,
                                  OF                                            eau-de-cologne and toilet water, pre-shave lotion,
                                  LONDON                                        after-shave lotion.
                                  (stylised)

                                                  26-Jun-1998  19-Oct-1999
2760        Burberry   Singapore  BURBERRY  3     T00/17551D   T00/17551D  REG  Class 3: Non-medicated toilet preparations,
            Limited               TOUCH                                         perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                  06-Oct-2000  10-May-2000
59062       Burberry   Singapore  Week end  3     15061/97     T97/15061I  REG  Non-medicated toilet preparations, perfumes, soaps,
            Limited               Burberrys                                     shower and bath gels, deodorants, anti-perspirants,
                                  OF                                            eau-de-cologne and toilet water, pre-shave lotion,
                                  LONDON                                        after-shave lotion.
                                  (stylised)

                                                  10-Dec-1997  10-Dec-1997

</TABLE>

                                      214
<PAGE>

                   VARIED TRADE NAMES - CLASS 3 - REGISTERED

<TABLE>
<CAPTION>
                                                               APP DATE
            REGISTERED                                         REG NO/
TMID        OWNER      COUNTRY   TRADEMARK  CLASS APP NO       REG DATE  STATUS GOODS
<S>         <C>        <C>         <C>       <C>  <C>          <C>         <C>  <C>
2729/WP-SK  Burberry   Slovakia     BURBERRY  3   746063       746063      REG  Class 3: Non-medicated toilet preparations,
            Limited                 TOUCH                                       perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                  23-Oct-2000  23-Oct-2000
3348        Burberry   Switzerland  Burberry  3   51019/2004   520.106     REG  Class 3: Non-medicated toilet preparations,
            Limited                 Tender                                      perfumes, cosmetics, preparations for the teeth and
                                    Touch                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                  18-Feb-2004  31-Mar-2004
2729/WP-CH  Burberry   Switzerland  BURBERRY  3   746063       746063      REG  Class 3: Non-medicated toilet preparations,
            Limited                 TOUCH                                       perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                  23-Oct-2000  23-Oct-2000

</TABLE>

                                      215
<PAGE>

                   VARIED TRADE NAMES - CLASS 3 - REGISTERED

<TABLE>
<CAPTION>
                                                            APP DATE
        REGISTERED                                          REG NO/
TMID    OWNER      COUNTRY     TRADEMARK CLASS APP NO       REG DATE    STATUS  GOODS
<S>     <C>        <C>         <C>       <C>   <C>          <C>         <C>     <C>
60677   Burberry   Switzerland Week end   3    4652/1998    457932      REG     Perfumes, perfumery products, cologne and eau de
        Limited                BURBERRYS                                        toilette, soaps, shower gel, bath gel, bath foam,
                               (stylised)                                       deodorant, moisturising products for the body,
                                                                                toilet talc, anti-ageing eye balm, anti-wrinkle
                                                                                cream, after shave emulsion, pre-shave lotion, razor
                                                                                burn soother.

                                               15-Dec-1998  15-Dec-1998
3311    Burberry   Taiwan      Burberry   3    92063891     1110101     REG     Class 3: Non-medicated toilet preparations,
        Limited                Brit                                             perfumes, preparations for the teeth and
                                                                                for the hair, soaps for human use, shampoos, anti-
                                                                                perspirants, eau de cologne and toilet water,
                                                                                essential oils, shaving preparations, pot pourri.

                                               03-Nov-2003  16-Jul-2004

</TABLE>

                                      216
<PAGE>

                   VARIED TRADE NAMES - CLASS 3 - REGISTERED

<TABLE>
<CAPTION>
                                                               APP DATE
            REGISTERED                                         REG NO/
TMID        OWNER      COUNTRY  TRADEMARK  CLASS  APP NO       REG DATE  STATUS GOODS
<S>         <C>        <C>      <C>        <C>    <C>          <C>         <C>  <C>
2761        Burberry   Taiwan   BURBERRY   3      89057922     1016603     REG  Class 3: Non-medicated toilet preparations,
            Limited             TOUCH                                           perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps for human use, shampoos,
                                                                                anti-perspirants, eau de cologne and toilet water,
                                                                                essential oils, shaving preparations, pot pourri.
                                                  06-Oct-2000  01-Oct-2002
3011        Burberry   Taiwan   Rocking    3      91013670     1035982     REG  Class 3: Non-medicated toilet preparations,
            Limited             Lamb                                            perfumes, cosmetics preparations for the teeth and
                                Device                                          for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                  11-Apr-2002  16-Mar-2003
59129       Burberry   Taiwan   Week end   3      849612       849612      REG  Non-medicated toilet preparations, perfumes, soaps,
            Limited             BURBERRYS                                       shower and bath gels, deodorants, anti-perspirants,
                                (stylised)                                      eau-de-cologne and toilet water, pre-shave lotion,
                                                                                after-shave lotion.

                                                  18-Mar-1998  01-May-1999
3012        Burberry   Thailand Rocking    3      489827       Kor174351   REG  Class 3: Perfumes, eau de toilette, eau de parfums,
            Limited             Lamb                                            cosmetic preparations for the teeth and for the
                                Device                                          hair; toothpaste, soaps, shampoos, anti-perspirants,
                                                                                eau de cologne, toilet water, body lotions, body
                                                                                sprays, after-shave lotions, cosmetic preparations
                                                                                for skin; preparations for body cleansing, essential
                                                                                oils, pot pourri.

                                                  13-Jun-2002  13-Jun-2002
59209       Burberry   Thailand Week end   3      366474       Kor 107999  REG  Perfumes, soaps, shower and bath gels, deodorants,
            Limited             Burberrys                                       anti-perspiarnts, eau-de-cologne, toilet
                                (stylised)                                      water,pre-shave lotion, after-shave lotion

                                                  06-Aug-1998  06-Aug-1998
2729/WP-TR  Burberry   Turkey   BURBERRY   3      746063       746063      REG  Class 3: Non-medicated toilet preparations,
            Limited             TOUCH                                           perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                  23-Oct-2000  23-Oct-2000
60685       Burberry   Turkey   Week end   3      1998/8388    198559      REG  Perfumes, perfumery products, cologne and eau de
            Limited             Burberrys                                       toilette, soaps, shower gel, bath gel, bath foam,
                                OF                                              deodorant, moisturising products for the body,
                                LONDON                                          toilet talc, anti-ageing eye balm, anti-wrinkle
                                (stylised)                                      cream, after shave emulsion, pre-shave lotion, razor
                                                                                burn soother.

                                                  24-Jun-1998  24-Jun-1998

</TABLE>

                                      217
<PAGE>

                   VARIED TRADE NAMES - CLASS 3 - REGISTERED

<TABLE>
<CAPTION>
                                                          APP DATE
       REGISTERED                                         REG NO/
TMID   OWNER      COUNTRY  TRADEMARK  CLASS  APP NO       REG DATE     STATUS   GOODS
<S>    <C>        <C>      <C>        <C>    <C>          <C>          <C>      <C>
2762   Burberry   Ukraine  BURBERRY   3      2000104576    28836       REG      Class 3: Toilet preparations; perfumes; cosmetics
       Limited             TOUCH                                                 preparations for the teeth and for the hair; soaps;
                                                                                shampoos; anti-perspirants; eau de cologne; toilet
                                                                                water; essential oils; shaving preparations; pot
                                                                                pourri; all the above for non-medicated purposes.

                                             13-Oct-2000   16-Dec-2002
2994   Burberry   Ukraine  Rocking    3      2002043037/T  37188       REG      Class 3: Non-medicated toilet preparations,
       Limited             Lamb                                                 perfumes, cosmetics preparations for the teeth and
                           Device                                               for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                             15-Apr-2002   15-Jan-2004
2763   Burberry   United   BURBERRY   3      39231         29056       REG      Class 3: Non-medicated toilet preparations,
       Limited    Arab     TOUCH                                                perfumes, cosmetics preparations for the teeth and
                  Emirates                                                      for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                             06-Nov-2000   22-Oct-2001
60679  Burberry   United   Week end   3      28092         26254       REG      Perfumes, perfumery products, cologne and eau de
       Limited    Arab     Burberrys                                            toilette, soaps, shower gel, bath gel, bath foam,
                  Emirates OF                                                   deodorant, moisturising products for the body,
                           LONDON                                               toilet talc, anti-ageing eye balm, anti-wrinkle
                           (stylised)                                           cream, after shave emulsion, pre-shave lotion, razor
                                                                                burn soother.

                                             31-Aug-1998   18-Oct-2000
2537   Burberry   United   BURBERRY   3      2231970       2231970     REG      Class 3: Non-medicated toilet preparations,
       Limited    Kingdom  TOUCH                                                perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                             10-May-2000   10-May-2000
2993   Burberry   United   Rocking    3      2297097       2297097     REG      Class 3: Non-medicated toilet preparations,
       Limited    Kingdom  Lamb                                                 perfumes, cosmetics preparations for the teeth and
                           Device                                               for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                             04-Apr-2002   30-Aug-2002
54536  Burberry   United   Week end   3      2126565       2126565     REG      Perfumes, perfumery products, cologne and eau de
       Limited    Kingdom  BURBERRYS                                            toilette, soaps, shower gel, bath gel, bath foam,
                           (stylised)                                           deodorant, moisturising products for the body,
                                                                                toilet talc, anti-ageing eye balm, anti-wrinkle
                                                                                cream, after shave emulsion, pre-shave lotion, razor
                                                                                burn soother.

                                             13-Mar-1997   13-Mar-1997

</TABLE>

                                      218
<PAGE>

                   VARIED TRADE NAMES - CLASS 3 - REGISTERED

<TABLE>
<CAPTION>
                                                            APP DATE
       REGISTERED                                           REG NO/
TMID   OWNER      COUNTRY    TRADEMARK  CLASS  APP NO       REG DATE    STATUS  GOODS
<S>    <C>        <C>        <C>        <C>    <C>          <C>         <C>     <C>
2764   Burberry   USA.       BURBERRY   3      76/153502    2634190      REG    Class 3: Non-medicated toilet preparations, namely
       Limited               TOUCH                                              perfumes, eau de cologne and toilet water, essential
                                                                                oils for personal use cosmetics preparations for the
                                                                                teeth and for the hair, namely toothepastes,
                                                                                shampoos, conditioners, hair sprays, hair gels,
                                                                                soaps for the body, shower gels and bath gels and
                                                                                bath forms, anti-perspirants and deodorants, shaving
                                                                                preparations and pot pourri.

                                               25-Oct-2000  15-Oct-2002
57517  Burberry   U.S.A.     Week end   3      75/355145    2315279      REG    Non-medicated preparations, perfumes, eau de
       Limited               Burberry                                           perfume, body lotion, cosmetics, soaps,
                             of London                                          anti-perspirants, eau de cologne, toilet waters,
                             (stylised)                                         pre-shave lotion, after-shave lotion, shaving soap,
                                                                                cologne, bath and shower gels.

                                               11-Sep-1997  08-Feb-2000
2766   Burberry   Uruguay    BURBERRY   3      327565       327565       REG    Class 3: Non-medicated toilet preparations,
       Limited               TOUCH                                              perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                               03-Nov-2000  07-May-2001
3007   Burberry   Uruguay    Rocking    3      339.645      339.645      REG    Class 3: Non-medicated toilet preparations,
       Limited               Lamb                                               perfumes, cosmetics preparations for the teeth and
                             Device                                             for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                               11-Apr-2002  15-Oct-2002
56762  Burberry   Uruguay    Week end   3      298.661      298.661      REG    All goods in the class
       Limited               Burberrys
                             OF
                             LONDON
                             (stylised)

                                               03-Oct-1997  05-Jun-1998
60686  Burberry   Venezuela  Week end   3      12680-98     P-226206     REG    Perfumes, perfumery products, cologne and eau de
       Limited               Burberrys                                          toilette, soaps, shower gel, bath gel, bath foam,
                             OF                                                 deodorant, moisturising products for the body,
                             LONDON                                             toilet talc, anti-ageing eye balm, anti-wrinkle
                             (stylised)                                         cream, after shave emulsion, pre-shave lotion, razor
                                                                                burn soother.

                                               07-Jul-1998  25-Feb-2001
2729   Burberry   WIPO       BURBERRY   3      746063       746063       REG    Class 3: Non-medicated toilet preparations,
       Limited               TOUCH                                              perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                               23-Oct-2000  23-Oct-2000

</TABLE>

                                      219
<PAGE>

                     VARIED TRADE NAMES - CLASS 3 - PENDING

<TABLE>
<CAPTION>
                                                              APP DATE
            REGISTERED                                        REG NO/
TMID        OWNER      COUNTRY     TRADEMARK  CLASS  APP NO   REG DATE  STATUS  GOODS

<S>         <C>         <C>        <C>        <C>    <C>      <C>       <C>     <C>
3300        Burberry   Argentina   Burberry   3      2472842            PEN     Class 3: Non-medicated toilet preparations,
            Limited                Brit                                         perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.
                                                     31-Oct-2003
3319        Burberry   Argentina   Burberry   3      2473431            PEN     Class 3: Non-medicated toilet preparations,
            Limited                Tender                                       perfumes, cosmetics preparations for the teeth and
                                   Touch                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     04-Nov-2003
3288/WP-AU  Burberry   Australia   Burberry   3      814807             PEN     Class 3: Non-medicated toilet preparations,
            Limited                Brit                                         perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.
                                                     11-Nov-2003
3338        Burberry   Austria     Burberry   3      AM1150/2004        PEN     Class 3: Non-medicated toilet preparations,
            Limited                Tender                                       perfumes, cosmetics, preparations for the teeth and
                                   Touch                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                 preparations, pot pourri.

                                                     19-Feb-2004

</TABLE>

                                      220
<PAGE>

                     VARIED TRADE NAMES - CLASS 3 - PENDING

<TABLE>
<CAPTION>
                                                              APP DATE
            REGISTERED                                        REG NO/
TMID        OWNER      COUNTRY     TRADEMARK  CLASS  APP NO   REG DATE  STATUS  GOODS

<S>         <C>         <C>        <C>        <C>    <C>      <C>       <C>     <C>
3301        Burberry    Brazil     Burberry   3      826052746          PEN     Class 3: Non-medicated toilet preparations,
            Limited                Brit                                         perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.
                                                     07-Nov-2003
3320        Burberry    Brazil     Burberry   3      826052738          PEN     Class 3: Non-medicated toilet preparations,
            Limited                Tender                                       perfumes, cosmetics preparations for the teeth and
                                   Touch                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     07-Nov-2003
2747        Burberry    Brazil     BURBERRY   3      823385701          PEN     Class 3: Non-medicated toilet preparations,
            Limited                TOUCH                                        perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.
                                                     10-Nov-2000
3000        Burberry    Brazil     Rocking    3      824501624          PEN     Class 3: Non-medicated toilet preparations,
            Limited                Lamb                                         perfumes, cosmetics preparations for the teeth and
                                   Device                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     11-Apr-2002
3033/WP-BG  Burberry    Bulgaria   Rocking    3      779836             PEN     Class 3: Non-medicated toilet preparations,
            Limited                Lamb                                         perfumes, cosmetics preparations for the teeth and
                                   Device                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                     30-Apr-2002
3299        Burberry    Canada     Burberry   3      1,199,475          PEN     Class 3: Non-medicated toilet preparations,
            Limited                Brit                                         perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.
                                                     12-Dec-2003
</TABLE>

                                      221
<PAGE>

                     VARIED TRADE NAMES - CLASS 3 - PENDING

<TABLE>
<CAPTION>
                                                              APP DATE
            REGISTERED                                        REG NO/
TMID        OWNER      COUNTRY     TRADEMARK  CLASS  APP NO   REG DATE  STATUS  GOODS

<S>         <C>         <C>        <C>        <C>    <C>      <C>       <C>     <C>
3318        Burberry    Canada     Burberry   3      1,199,474          PEN     Class 3: Non-medicated toilet preparations,
            Limited                Tender                                       perfumes, cosmetics preparations for the teeth and
                                   Touch                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.
                                                                                Class 3: Non-medicated toilet preparations,
                                                                                perfumes, cosmetics, preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     12-Dec-2003
2997        Burberry    Canada     Rocking    3      1143564            PEN     Class 3: Non-medicated toilet preparations,
            Limited                Lamb                                         perfumes, cosmetics preparations for the teeth and
                                   Device                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils for
                                                                                personal use, pot pourri.

                                                     12-Jun-2002
3288/W-CN   Burberry    China      Burberry   3      814807             PEN     Class 3: Non-medicated toilet preparations,
            Limited                Brit                                         perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.
                                                     11-Nov-2003
3354        Burberry    China      Burberry   3      392026S            PEN     Class 3: Non-medicated toilet preparations,
            Limited                Tender                                       perfumes, cosmetics, preparations for the teeth and
                                   Touch                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     20-Feb-2004
59130       Burberry    China      Week end   3      9800007011         PEN     Perfumes, soaps, anti-perspirants, eau-de-cologne,
            Limited                BURBERRYS                                    toilet water, deodorants, aftershave lotion, pre-
                                   (stylised)                                   shave lotion, shower and bath gel, non-medicated
                                                                                toilet  preparations.

                                                     22-Jan-1998
3002        Burberry    Colombia   Rocking    3      02.033.931         PEN     Class 3: Non-medicated toilet preparations,
            Limited                Lamb                                         perfumes, cosmetics preparations for the teeth and
                                   Device                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                     19-Apr-2002
3033/WP-CZ  Burberry    Czech      Rocking    3      779836             PEN     Class 3: Non-medicated toilet preparations,
            Limited     Republic   Lamb                                         perfumes, cosmetics preparations for the teeth and
                                   Device                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                     30-Apr-2002

</TABLE>

                                      222
<PAGE>

                     VARIED TRADE NAMES - CLASS 3 - PENDING

<TABLE>
<CAPTION>
                                                              APP DATE
            REGISTERED                                        REG NO/
TMID        OWNER      COUNTRY     TRADEMARK  CLASS  APP NO   REG DATE  STATUS  GOODS

<S>         <C>         <C>        <C>        <C>    <C>      <C>       <C>     <C>
60678       Burberry    Czech      Week end   3      133409             PEN     Perfumes, perfumery products, cologne and eau de
            Limited     Republic   Burberrys                                    toilette, soaps, shower gel, bath gel, bath foam,
                                   OF                                           deodorant, moisturising products for the body,
                                   LONDON                                       toilet talc, anti-ageing eye balm, anti-wrinkle
                                   (stylised)                                   cream, after shave emulsion, pre-shave lotion, razor
                                                                                burn soother.

                                                     09-Jun-1998
2995        Burberry    Egypt      Rocking    3      150735             PEN     Class 3: Non-medicated toilet preparations,
            Limited                Lamb                                         perfumes, cosmetics preparations for the teeth and
                                   Device                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                     30-Apr-2002
3033/WP-EE  Burberry    Estonia    Rocking    3      779836             PEN     Class 3: Non-medicated toilet preparations,
            Limited                Lamb                                         perfumes, cosmetics preparations for the teeth and
                                   Device                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                     30-Apr-2002
3268        Burberry    European   Burberry   3      003322922          PEN     Class 3: Non-medicated toilet preparations,
            Limited     Union      Brit                                         perfumes, cosmetics, preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     21-Aug-2003
3340        Burberry    Finland    Burberry   3      T200400387         PEN     Class 3: Non-medicated toilet preparations,bath,
            Limited                Tender                                       shower and body care preparations, perfumes,
                                   Touch                                        cosmetics, preparations for the teeth and for the
                                                                                hair, soaps, shampoos, anti-perspirants, eau de
                                                                                cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     17-Feb-2004
3033/WP-GE  Burberry    Georgia    Rocking    3      779836             PEN     Class 3: Non-medicated toilet preparations,
            Limited                Lamb                                         perfumes, cosmetics preparations for the teeth and
                                   Device                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                     30-Apr-2002
3341        Burberry    Germany    Burberry   3      304 09 488.9/09    PEN     Class 3: Non-medicated toilet preparations,
            Limited                Tender                                       perfumes, cosmetics, preparations for the teeth and
                                   Touch                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     24-Feb-2004

</TABLE>

                                      223
<PAGE>

                     VARIED TRADE NAMES - CLASS 3 - PENDING

<TABLE>
<CAPTION>
                                                              APP DATE
            REGISTERED                                        REG NO/
TMID        OWNER      COUNTRY     TRADEMARK  CLASS  APP NO   REG DATE  STATUS  GOODS

<S>         <C>         <C>        <C>        <C>    <C>      <C>       <C>     <C>
3342        Burberry    Greece     Burberry   3      149449             PEN     Class 3: Non-medicated toilet preparations,
            Limited                Tender                                       perfumes, cosmetics, preparations for the teeth and
                                   Touch                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     19-Feb-2004
3283        Burberry    Hong Kong  Burberry   3      300068003          PEN     Class 3: Non-medicated toilet preparations,
            Limited                Brit                                         perfumes, cosmetics, preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.
                                                     25-Aug-2003
3325        Burberry    Hong Kong  Burberry   3      300107225          PEN     Class 3: Non-medicated toilet preparations,
            Limited                Tender                                       perfumes, cosmetics preparations for the teeth and
                                   Touch                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     06-Nov-2003
3033/WP-HU  Burberry    Hungary    Rocking    3      779836             PEN     Class 3: Non-medicated toilet preparations,
            Limited                Lamb                                         perfumes, cosmetics preparations for the teeth and
                                   Device                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                     30-Apr-2002
60676       Burberry    Hungary    Week end   3      M9802418           PEN     Perfumes, perfumery products, cologne and eau de
            Limited                Burberrys                                    toilette, soaps, shower gel, bath gel, bath foam,
                                   OF                                           deodorant, moisturising products for the body,
                                   LONDON                                       toilet talc, anti-ageing eye balm, anti-wrinkle
                                   (stylised  )                                 cream, after shave emulsion, pre-shave lotion, razor
                                                                                burn soother.

                                                     18-Jun-1998
3306        Burberry    India      Burberry   3      1247382            PEN     Class 3: Non-medicated toilet preparations,
            Limited                Brit                                         perfumes, cosmetics, preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     03-Nov-2003

</TABLE>

                                      224
<PAGE>

                     VARIED TRADE NAMES - CLASS 3 - PENDING

<TABLE>
<CAPTION>
                                                              APP DATE
            REGISTERED                                        REG NO/
TMID        OWNER      COUNTRY     TRADEMARK  CLASS  APP NO   REG DATE  STATUS  GOODS

<S>         <C>         <C>        <C>        <C>    <C>      <C>       <C>     <C>
3326        Burberry    India      Burberry   3      1248143            PEN     Class 3: Non-medicated toilet preparations,
            Limited                Tender                                       perfumes, cosmetics, preparations for the teeth and
                                   Touch                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     06-Nov-2003
61920       Burberry    India      Week end   3      822101             PEN     Perfumes, perfumery products, cologne and eau de
            Limited                Burberrys                                    toilette, soap, shower gel, bath gel, bath foam,
                                   OF LONDON                                    deodorant, moisturising products for the body,
                                   (stylised)                                   toilet talc, anti-ageing eye balm, anti-wrinkle
                                                                                cream, after-shave emulsion, pre-shave lotion,
                                                                                razor-burn soother.

                                                     07-Oct-1998
3343        Burberry    Ireland    Burberry   3                         PEN     Class 3: Non-medicated toilet preparations, bath,
            Limited                Tender                                       shower and body care preparations, perfumes,
                                   Touch                                        cosmetics, preparations for the teeth and for the
                                                                                hair, soaps, shampoos, anti-perspirants, eau de
                                                                                cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     17-Feb-2004
3344        Burberry    Italy      Burberry   3      FI2004C000389      PEN     Class 3: Non-medicated toilet preparations,
            Limited                Tender                                       perfumes, cosmetics, preparations for the teeth and
                                   Touch                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     18-Mar-2004
3284        Burberry    Japan      Burberry   3      2003-071925        PEN     Class 3: Non-medicated toilet preparations,
            Limited                Brit                                         perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     22-Aug-2003
3288/WP-JP  Burberry    Japan      Burberry   3      814807             PEN     Class 3: Non-medicated toilet preparations,
            Limited                Brit                                         perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.
                                                     11-Nov-2003

</TABLE>

                                      225
<PAGE>

                     VARIED TRADE NAMES - CLASS 3 - PENDING

<TABLE>
<CAPTION>
                                                              APP DATE
            REGISTERED                                        REG NO/
TMID        OWNER      COUNTRY     TRADEMARK  CLASS  APP NO   REG DATE  STATUS  GOODS

<S>         <C>         <C>        <C>        <C>    <C>      <C>       <C>     <C>
3285        Burberry    Korea      Burberry   3      40-2003-0037779    PEN     Class 3: Perfumes, shampoos, anti-perspirants, eau
            Limited     (South)    Brit                                         de cologne, common toilet water, esential oils for
                                                                                personal use, pot pourri (fragrance), bath oils,
                                                                                bath powder, baby oils, baby powder, bath salts for
                                                                                non-medical purposes, frangrance for non-medical
                                                                                purposes, sunscreen lotions, shaving creams, skin
                                                                                milk, skin fresheners, eye liners, eye make-up
                                                                                removers, eye shadows, aftershave lotions, body
                                                                                deodorants, lip gloss, cleansing cream, face powder,
                                                                                hand cream, perfumed oils, hair gels, hair
                                                                                conditionors, hair creams, hair tonics, toilet bath
                                                                                salts, cleansing milk for toilet purposes, liquid
                                                                                soaps, paper soaps, cream soaps, hair rinses, toilet
                                                                                soaps and toothpaste.

                                                     25-Aug-2003
3328        Burberry    Korea      Burberry   3      40-2003-50175      PEN     Perfumes, shampoos, anti-persipirants, eay de
            Limited     (South)    Tender                                       cologne, common toilet water, essential oils for
                                   Touch                                        persona use, pot pourri (fragrance), bath oils, bath
                                                                                powder, baby oils, baby powder, bath salts for
                                                                                non-medical purposes, frangrance for non-medical
                                                                                purposes, sunscreen lotions, shaving creams, skin
                                                                                milk, skin fresheners, eye liners, eye make-up
                                                                                removers, eye shadows, after-shave lotions, body
                                                                                deodorants, lip gloss, cleansing cream, face powder,
                                                                                hand cream, perumed oils, hair gels, hair
                                                                                conditioners, hair creams, hair tonics, toilet bath
                                                                                salts, cleansing milk for toilet purposes, liquid
                                                                                soaps, shaving soaps, deodorants soaps, bath soaps,
                                                                                cosmetic soaps, paper soaps, cream soaps, hair
                                                                                rinses, toilet soaps and toothpaste.

                                                     13-Nov-2003
2754        Burberry    Kuwait     BURBERRY   3      49326              PEN     Class 3: Non-medicated toilet preparations,
            Limited                TOUCH                                        perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     12-Mar-2001

</TABLE>

                                      226
<PAGE>

                     VARIED TRADE NAMES - CLASS 3 - PENDING

<TABLE>
<CAPTION>
                                                              APP DATE
            REGISTERED                                        REG NO/
TMID        OWNER      COUNTRY     TRADEMARK  CLASS  APP NO   REG DATE  STATUS  GOODS

<S>         <C>         <C>        <C>        <C>    <C>      <C>       <C>     <C>
3015        Burberry    Kuwait     Rocking    3      58612              PEN     Class 3: Non-medicated toilet preparations,
            Limited                Lamb                                         perfumes, cosmetics preparations for the teeth and
                                   Device                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                     05-Mar-2003
3033/WP-LV  Burberry    Latvia     Rocking    3      779836             PEN     Class 3: Non-medicated toilet preparations,
            Limited                Lamb                                         perfumes, cosmetics preparations for the teeth and
                                   Device                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                     30-Apr-2002
60684       Burberry    Lebanon    Week end   3      19607              PEN     Perfumes, perfumery products, cologne and eau de
            Limited                Burberrys                                    toilette, soaps, shower gel, bath gel, bath foam,
                                   OF                                           deodorant, moisturising products for the body,
                                   LONDON                                       toilet talc, anti-ageing eye balm, anti-wrinkle
                                   (stylised)                                   cream, after shave emulsion, pre-shave lotion, razor
                                                                                burn soother.

                                                     22-Jun-1998
3033/WP-LT  Burberry    Lithuania  Rocking    3      779836             PEN     Class 3: Non-medicated toilet preparations,
            Limited                Lamb                                         perfumes, cosmetics preparations for the teeth and
                                   Device                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                     30-Apr-2002
3308        Burberry    Malaysia   Burberry   3      2003/16079         PEN     Class 3: Non-medicated toilet preparations,
            Limited                Brit                                         perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.
                                                     28-Nov-2003
3329        Burberry    Malaysia   Burberry   3      2003/16080         PEN     Class 3: Non-medicated toilet preparations,
            Limited                Tender                                       perfumes, cosmetics preparations for the teeth and
                                   Touch                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     28-Nov-2003

</TABLE>

                                      227
<PAGE>

                     VARIED TRADE NAMES - CLASS 3 - PENDING

<TABLE>
<CAPTION>
                                                              APP DATE
            REGISTERED                                        REG NO/
TMID        OWNER      COUNTRY     TRADEMARK  CLASS  APP NO   REG DATE  STATUS  GOODS

<S>         <C>         <C>        <C>        <C>    <C>      <C>       <C>     <C>
3050        Burberry    Malaysia   Rocking    3      2002/07593         PEN     Class 3: Non-medicated toilet preparations,
            Limited                Lamb                                         perfumes, cosmetics preparations for the teeth and
                                   Device                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     29-Jun-2002
3303        Burberry    Mexico     Burberry   3      635314             PEN     Class 3: Non-medicated toilet preparations,
            Limited                Brit                                         perfumes, cosmetics, preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     18-Dec-2003
3322        Burberry    Mexico     Burberry   3      635315             PEN     Class 3: Non-medicated toilet preparations,
            Limited                Tender                                       perfumes, cosmetics, preparations for the teeth and
                                   Touch                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     18-Dec-2003
61922       Burberry    Mexico     Week end   3      359657             PEN     Perfumes, cologne and eau de toilette, shower and
            Limited                Burberrys                                    bath gel, bath foam, deodorant, moisturising
                                   OF                                           products for the body, after-shave emulsion,
                                   LONDON                                       pre-shave lotion, razor-burn soother.
                                   (stylised)

                                                     08-Jan-1999
3309        Burberry    New        Burberry   3      703869             PEN     Class 3: Non-medicated toilet preparations,
            Limited     Zealand    Brit                                         perfumes, cosmetics, preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     03-Nov-2003
3330        Burberry    New        Burberry   3      703976             PEN     Class 3: Non-medicated toilet preparations,
            Limited     Zealand    Tender                                       perfumes, cosmetics, preparations for the teeth and
                                   Touch                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     05-Nov-2003
3288/WP-NO  Burberry    Norway     Burberry   3      814807             PEN     Class 3: Non-medicated toilet preparations,
            Limited                Brit                                         perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     11-Nov-2003

</TABLE>

                                      228
<PAGE>

                     VARIED TRADE NAMES - CLASS 3 - PENDING

<TABLE>
<CAPTION>
                                                               APP DATE
            REGISTERED                                         REG NO/
TMID        OWNER      COUNTRY      TRADEMARK  CLASS  APP NO   REG DATE STATUS  GOODS

<S>         <C>         <C>         <C>        <C>    <C>      <C>      <C>     <C>
3033/WP-NO  Burberry    Norway      Rocking    3      779836            PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Lamb                                        perfumes, cosmetics preparations for the teeth and
                                    Device                                      for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                      30-Apr-2002
3017        Burberry    Oman        Rocking    3      27838             PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Lamb                                        perfumes, cosmetics preparations for the teeth and
                                    Device                                      for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                      13-Apr-2002
3323        Burberry    Paraguay    Burberry   3      29542-2003        PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Tender                                      perfumes, cosmetics preparations for the teeth and
                                    Touch                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                      13-Nov-2003
3310        Burberry    Philippines Burberry   3      4-2003-10140      PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Brit                                        perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.
                                                      05-Nov-2003
3331        Burberry    Philippines Burberry   3      4-2003-10203      PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Tender                                      perfumes, cosmetics preparations for the teeth and
                                    Touch                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                      07-Nov-2003
59208       Burberry    Philippines Week end   3                        PEN     Non-medicated toilet preparations, perfumes, soaps,
            Limited                 Burberrys                                   shower and bath gels, deodorants, anti-perspirants,
                                    OF LONDON                                   eau-de-cologne and toilet water, pre-shave lotion,
                                    (stylised)                                  after-shave lotion.

                                                      28-Apr-1998

</TABLE>

                                      229
<PAGE>

                     VARIED TRADE NAMES - CLASS 3 - PENDING

<TABLE>
<CAPTION>
                                                               APP DATE
            REGISTERED                                         REG NO/
TMID        OWNER      COUNTRY      TRADEMARK  CLASS  APP NO   REG DATE STATUS  GOODS

<S>         <C>         <C>         <C>        <C>    <C>      <C>      <C>     <C>
3033/WP-PL  Burberry    Poland      Rocking    3      779836            PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Lamb                                        perfumes, cosmetics preparations for the teeth and
                                    Device                                      for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                      30-Apr-2002
3345        Burberry    Portugal    Burberry   3      379024            PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Tender                                      perfumes, cosmetics, preparations for the teeth and
                                    Touch                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                      20-Feb-2004
3018        Burberry    Qatar       Rocking    3      27416             PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Lamb                                        perfumes, cosmetics preparations for the teeth and
                                    Device                                      for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                      21-Apr-2002
3033/WP-RO  Burberry    Romania     Rocking    3      779836            PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Lamb                                        perfumes, cosmetics preparations for the teeth and
                                    Device                                      for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                      30-Apr-2002
3288/W-RU   Burberry    Russian     Burberry   3      814807            PEN     Class 3: Non-medicated toilet preparations,
            Limited     Federation  Brit                                        perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                      11-Nov-2003
3349        Burberry    Russian     Burberry   3      2004703188        PEN     Class 3: Non-medicated toilet preparations,
            Limited     Federation  Tender                                      perfumes, cosmetics, preparations for the teeth and
                                    Touch                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                      18-Feb-2004
3033/WP-RU  Burberry    Russian     Rocking    3      779836            PEN     Class 3: Non-medicated toilet preparations,
            Limited     Federation  Lamb                                        perfumes, cosmetics preparations for the teeth and
                                    Device                                      for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                      30-Apr-2002
</TABLE>

                                      230
<PAGE>

                     VARIED TRADE NAMES - CLASS 3 - PENDING

<TABLE>
<CAPTION>
                                                              APP DATE
            REGISTERED                                        REG NO/
TMID        OWNER       COUNTRY     TRADEMARK CLASS  APP NO   REG DATE  STATUS  GOODS

<S>         <C>         <C>         <C>       <C>    <C>      <C>       <C>     <C>
3315        Burberry    San Marino  Burberry  3      SM-M200300230      PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Brit                                        perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     02-Dec-2003
3317        Burberry    San Marino  Burberry  3      SM-M-200300229     PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Tender                                      perfumes, cosmetics preparations for the teeth and
                                    Touch                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     02-Dec-2003
3313        Burberry    Saudi       Burberry  3      86060              PEN     Class 3: Non-medicated toilet preparations,
            Limited     Arabia      Brit                                        perfumes, cosmetics, preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     02-Nov-2003
3033/WP-YU  Burberry    Serbia-     Rocking   3      779836             PEN     Class 3: Non-medicated toilet preparations,
            Limited     Montenegro  Lamb                                        perfumes, cosmetics preparations for the teeth and
                                    Device                                      for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                     30-Apr-2002
3288/WP-SG  Burberry    Singapore   Burberry  3      814807             PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Brit                                        perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     11-Nov-2003
3352        Burberry    Singapore   Burberry  3      T/04/02218F        PEN     Class 3: Non-medicated toilet preparations,bath,
            Limited                 Tender                                      shower and body care preparations, perfumes,
                                    Touch                                       cosmetics, preparations for the teeth (cleaning) and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     17-Feb-2004
3033/WP-SG  Burberry    Singapore   Rocking   3      T02/08371D         PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Lamb                                        perfumes, cosmetics preparations for the teeth and
                                    Device                                      for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                     30-Apr-2002

</TABLE>

                                      231
<PAGE>

                     VARIED TRADE NAMES - CLASS 3 - PENDING

<TABLE>
<CAPTION>
                                                              APP DATE
            REGISTERED                                        REG NO/
TMID        OWNER       COUNTRY     TRADEMARK  CLASS  APP NO  REG DATE  STATUS  GOODS

<S>         <C>         <C>         <C>        <C>    <C>     <C>       <C>     <C>
3033/WP-SI  Burberry    Slovenia    Rocking    3      779836            PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Lamb                                        perfumes, cosmetics preparations for the teeth and
                                    Device                                      for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                      30-Apr-2002
3298        Burberry    South       Burberry   3      2003/19661        PEN     Class 3: Non-medicated toilet preparations,
            Limited     Africa      Brit                                        perfumes, cosmetics, preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                      07-Nov-2003
3346        Burberry    Spain       Burberry   3      2.586.510(2)      PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Tender                                      perfumes, cosmetics, preparations for the teeth and
                                    Touch                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                      16-Mar-2004
3288/W-CH   Burberry    Switzerland Burberry   3      814807            PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Brit                                        perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                      11-Nov-2003
3033/WP-CH  Burberry    Switzerland Rocking    3      779836            PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Lamb                                        perfumes, cosmetics preparations for the teeth and
                                    Device                                      for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                      30-Apr-2002

</TABLE>

                                      232
<PAGE>

                     VARIED TRADE NAMES - CLASS 3 - PENDING

<TABLE>
<CAPTION>
                                                              APP DATE
            REGISTERED                                        REG NO/
TMID        OWNER      COUNTRY     TRADEMARK  CLASS  APP NO   REG DATE  STATUS  GOODS

<S>         <C>        <C>         <C>        <C>    <C>      <C>       <C>     <C>
3332        Burberry   Taiwan      Burberry   3      92064591           PEN     Class 3: Non-medicated toilet preparations,
            Limited                Tender                                       perfumes, cosmetics preparations for the teeth and
                                   Touch                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     06-Nov-2003
3312        Burberry   Thailand    Burberry   3      537811             PEN     Class 3: Perfumes;, cosmetic preparations for the
            Limited                Brit                                         teeth; cosmetic preparations for the hair; cosmetic
                                                                                preparations for the face; cosmetic preparations for
                                                                                skin care; soaps; shampoos; anti-perspirants, eau de
                                                                                toilette, eau de cologne, deodorants, essential oils
                                                                                shaving preparations, pot pourri; perfumed body
                                                                                lotions and creams; bath and shower gels.

                                                     28-Nov-2003
3333        Burberry   Thailand    Burberry   3      537820             PEN     Class 3: Non-medicated toilet preparations,
            Limited                Tender                                       perfumes, cosmetics preparations for the teeth and
                                   Touch                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     28-Nov-2003
3288/WP-TR  Burberry   Turkey      Burberry   3      814807             PEN     Class 3: Non-medicated toilet preparations,
            Limited                Brit                                         perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     11-Nov-2003
3353        Burberry   Turkey      Burberry   3      2004/003539        PEN     Class 3: Non-medicated toilet preparations,
            Limited                Tender                                       perfumes, cosmetics, preparations for the teeth and
                                   Touch                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                     20-Feb-2004

</TABLE>

                                      233
<PAGE>

                     VARIED TRADE NAMES - CLASS 3 - PENDING

<TABLE>
<CAPTION>
                                                               APP DATE
            REGISTERED                                         REG NO/
TMID        OWNER      COUNTRY      TRADEMARK  CLASS  APP NO   REG DATE STATUS  GOODS

<S>         <C>         <C>         <C>        <C>    <C>      <C>      <C>     <C>
3033/WP-TR  Burberry    Turkey      Rocking    3      779836            PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Lamb                                        perfumes, cosmetics preparations for the teeth and
                                    Device                                      for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                      30-Apr-2002
3314        Burberry    United      Burberry   3      57172             PEN     Class 3: Non-medicated toilet preparations,
            Limited     Arab        Brit                                        perfumes, cosmetics preparations for the teeth and
                        Emirates                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                      18-Nov-2003
3334        Burberry    United     Burberry    3      57171             PEN     Class 3: Non-medicated toilet preparations,
            Limited     Arab       Tender                                       perfumes, cosmetics preparations for the teeth and
                        Emirates   Touch                                        for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                      18-Nov-2003
3020        Burberry    United     Rocking     3      47409             PEN     Class 3: Non-medicated toilet preparations,
            Limited     Arab       Lamb                                         perfumes, cosmetics preparations for the teeth and
                        Emirates   Device                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                      30-Apr-2002
3355        Burberry    United      Burberry   3      2356223           PEN     Class 3: Perfumes
            Limited     Kingdom     Tender
                                    Touch

                                                      18-Feb-2004
3288/WP-US  Burberry    U.S.A.      Burberry   3      814807            PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Brit                                        perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                      11-Nov-2003
3359        Burberry    U.S.A.      Rocking    3      76/976388         PEN     Class 3: Perfumes, cosmetic preparations for the
            Limited                 Lamb                                        hair, non-medicated soaps and shampoos, eau de
                                    Device                                      cologne and toilet water, essential oils for
                                                                                personal use.

                                                      30-May-2002

3305        Burberry    Uruguay     Burberry   3      350.995           PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Brit                                        perfumes, cosmetics, preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                      04-Nov-2003
</TABLE>

                                      234
<PAGE>

                     VARIED TRADE NAMES - CLASS 3 - PENDING

<TABLE>
<CAPTION>
                                                               APP DATE
            REGISTERED                                         REG NO/
TMID        OWNER      COUNTRY      TRADEMARK  CLASS  APP NO   REG DATE STATUS  GOODS

<S>         <C>         <C>         <C>        <C>    <C>      <C>      <C>     <C>
3324        Burberry    Uruguay     Burberry   3      351.036           PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Tender                                      perfumes, cosmetics, preparations for the teeth and
                                    Touch                                       for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                      06-Nov-2003
2767        Burberry    Venezuela   BURBERRY   3      2000-018829       PEN     Class 3: Non-medicated toilet preparations,
            Limited                 TOUCH                                       perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                      16-Oct-2000
3288        Burberry    WIPO        Burberry   3      814807            PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Brit                                        perfumes, cosmetics preparations for the teeth and
                                                                                for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, shaving
                                                                                preparations, pot pourri.

                                                      11-Nov-2003
3033        Burberry    WIPO        Rocking    3      779836            PEN     Class 3: Non-medicated toilet preparations,
            Limited                 Lamb                                        perfumes, cosmetics preparations for the teeth and
                                    Device                                      for the hair, soaps, shampoos, anti-perspirants, eau
                                                                                de cologne and toilet water, essential oils, pot
                                                                                pourri.

                                                      30-Apr-2002

</TABLE>

                                      235
<PAGE>

                         SCHEDULE 2 : LICENSED PRODUCTS

A.       MEN'S LICENSED PRODUCTS
--------------------------------
(1)      MEN'S FRAGRANCE LINE

         (a) Cologne and Eau de Toilette

         (b) Cologne Spray

 (2)     MEN'S FRAGRANCED BODY LINE

         (a) Body Cream

         (b) Deodorant

         (c) Shaving Foam

         (d) Pre-Shave Lotion

         (e) After Shave Emulsion

         (f) After Shave

         (g) Bath and Body Gel

         (h) Razor Burn Soother

         (i) Shampoo

B.       WOMEN'S LICENSED PRODUCTS
----------------------------------
(1)      WOMEN'S FRAGRANCE LINE

         (a) Perfume

         (b) Cologne and Eau de Toilette

         (c) Cologne Spray

(2)      WOMEN'S FRAGRANCED BODY LINE

         (a) Body Moisturizer

         (b) Deodorant

         (c) Bath and Shower Gel

                                      236
<PAGE>

         (d) Shampoo

         (e) Soap

         (f) Bath Foam

         (g) Oil Mist Spray

C.       MEN'S AND WOMEN'S SKIN CARE PRODUCTS

         (a) Face and Body Moisturizing products

         (b) Anti-aging products

         (c) Sun protection products

D.       BABY LICENSED PRODUCTS

         (a) Eau de Toilette Natural Spray

         (b) Baby Wash

         (c) Massage Oil

         (d) Body Moisturizer

                                      237
<PAGE>

                        SCHEDULE 3 : THE LVMH AGREEMENT

THIS AGREEMENT is dated [           ] 2004 and made

BETWEEN

INTER PARFUMS, S.A., a company incorporated under the laws of France, having its
principal office at 4, rond point des Champs-Elysees, 75008 Paris, France
("IPSA"); and

INTER PARFUMS, INC. a company incorporated under the laws of the State of
Delaware, having its principal office at 551 Fifth Avenue, New York, NY
10176-0198, USA ("IPInc"); and

BURBERRY LIMITED,  a company  incorporated  under the laws of England having its
registered office at 18/22 Haymarket London SW1Y 4DQ ("Burberry"); and

LV  CAPITAL,  USA,  INC. a company  incorporated  under the laws of the State of
Delaware ("LV Capital") 19 East 57th Street, New York, New York 10022, USA; and

PHILIPPE BENACIN of 31 Avenue Kleber 75016 Paris France; and

DANIEL PIETTE of [                   ]; and

JEAN CAILLIAU of [                   ]; and

PHILIPPE SANTI of [                  ]; and

JEAN MADAR of 1 Rue de Mareshal Harispe 75007 Paris France.

In consideration for the payment by Burberry of the sum of ten (10) euros to
[   ], the parties to this Agreement hereby agree as follows:

1.       DEFINITIONS

1.1      In this Agreement the following terms have the following meanings:

         "INFORMATION"              means any and all information (in any form)
                                    relating to the business or affairs of
                                    Burberry which is:

                                    (A)      confidential or secret; or

                                    (B)      information whose use or disclosure
                                             might detrimentally affect
                                             Burberry's business, goodwill or
                                             other legitimate interests

                                    which shall include but not be limited to
                                    any and all information concerning:

                                      238
<PAGE>

                                    (1)      proposed, possible or intended
                                             openings or acquisitions of
                                             Burberry retail outlets (including
                                             departments, concessions, sections
                                             or corners in a retail store);

                                    (2)      proposals or intentions for
                                             Burberry to begin supplying any
                                             products to any person, firm or
                                             company;

                                    (3)      Burberry's business plans,
                                             intentions or objectives;

                                    (4)      proposed, contemplated or actual
                                             changes of Burberry personnel
                                             and/or officers;

                                    (5)      product and/or geographic markets
                                             targeted or contemplated by
                                             Burberry;

                                    (6)      proposed or intended brand names of
                                             any Burberry product;

                                    (7)      product development by or on behalf
                                             of Burberry;

                                    (8)      the identity of any proposed or
                                             possible licensee of Burberry;
                                             and/or

                                    (9)      the trading performance of Burberry
                                             (other than in relation to Licensed
                                             Products)

                                    but which shall not include:-

                                    (i)      Permitted Information; or

                                    (ii)     Information which can be
                                             demonstrated by IPSA to have been
                                             publicly available (i.e. in the
                                             public domain) as at the date of
                                             receipt by IPSA or to have become
                                             publicly available (i.e. entered
                                             the public domain) subsequently
                                             other than as a direct or indirect
                                             result of any infringement of the
                                             Licence Agreement or this
                                             Agreement;

         "CONTROL"                  means the power to direct the affairs of
                                    another, whether by contract, the ownership
                                    of shares, or otherwise; and "CONTROLS" and
                                    "CONTROLLED" shall be construed accordingly;

         "LICENCE AGREEMENT"        means the Licence Agreement dated [ ]
                                    between Burberry, IPSA and IPInc;

         "LICENSED PRODUCTS"        means the licensed products as defined in
                                    the Licence Agreement;

                                      239
<PAGE>

         "LVMH"                     means LVMH Moet Hennessy Louis Vuitton S.A.,
                                    a French societe anonyme;

         "LVMH AFFILIATE"           means a corporation, entity or person which
                                    directly or indirectly Controls or is
                                    Controlled by or is under common Control
                                    with LVMH and/or LV Capital;

         "LVMH REPRESENTATIVES"     means those directors of IPInc from time to
                                    time who are Prohibited Persons or are
                                    nominated or appointed by, or who represent,
                                    LVMH, LV Capital and/or any LVMH Affiliate;
                                    the current LVMH Representative being Daniel
                                    Piette and Jean Cailliau;

         "PERMITTED INFORMATION" means:

         (A)      any and all financial data relating to IPSA, including but not
                  limited to all accounts; sales figures; net sales; quarterly
                  accounts; annual accounts; cost of goods; development costs;
                  marketing, promotion and advertising expenses of IPSA and
                  IPSA's projections and forecasts;

         (B)      details of any allegations, claims or notices by or to
                  Burberry from time to time (and at any time) of any breach of,
                  default under, or cure of such breach or default under the
                  Licence Agreement;

         (C)      details of any proposed modifications or amendments to the
                  Licence Agreement from time to time (and at any time); and

         (D)      such other information as Burberry may from time to time at
                  its absolute discretion agree in writing; and

         "PROHIBITED PERSON" means each of:

         (A)      LV Capital;

         (B)      LVMH;

         (C)      any LVMH Affiliate;

         (D)      any person, firm or company who is at the relevant time
                  employed by or a representative, advisor, agent, consultant or
                  officer of LV Capital, LVMH and/or any LVMH Affiliate; and

         (E)      the LVMH Representatives.

2.        INFORMATION

2.1      Without prejudice to clause 26 of the Licence Agreement, each of IPInc,
         IPSA, Philippe Benacin, Jean Madar and Philippe Santi shall:

                                      240
<PAGE>

         (A)      not directly or indirectly disclose (and shall ensure that no
                  person, firm or company will directly or indirectly disclose)
                  any Information to any Prohibited Person at any time;

         (B)      not use (and will not permit, authorise or enable any person,
                  firm or company to use) any Information for any purpose other
                  than the proper performance of the Licence Agreement by IPSA;
                  and

         (C)      ensure that:

                  (1)      all the directors of IPSA;

                  (2)      all the directors of IPInc; and

                  (3)      everyone working at or for IPSA or IPInc in relation
                           to the Licensed Products and/or Burberry from time to
                           time

                  is aware of the obligations contained in this Paragraph 2.1
                  and shall comply with them at all times as if they were each
                  individually a party to this Agreement,

                  provided that Information may be disclosed to any Prohibited
                  Person if and to the extent required by any applicable legal
                  or regulatory requirement, but only if IPSA or IPInc first
                  notifies Burberry promptly of the nature and extent of (and
                  reason for) the required disclosure and gives Burberry
                  reasonable opportunity to object and/or to obtain an
                  appropriate order or confidentiality agreement.

2.2      No LVMH Representative nor any other Prohibited Person shall, and each
         of IPInc, IPSA, Philippe Benacin, Jean Madar and Philippe Santi shall
         procure that no Prohibited Person shall:

         (A)      attend any meetings with Burberry (nor any of Burberry's
                  employees, officers and/or agents) relating directly or
                  indirectly to the Licence Agreement or any of the Licensed
                  Products; nor

         (B)      attend any meetings or participate in discussions if and to
                  the extent that they relate to the operation of the Licence
                  Agreement,

         without  Burberry's  prior written  consent;  but either or both of the
         LVMH  Representatives  may attend any meeting and/or participate in any
         discussion  to the extent that  Permitted  Information  is discussed or
         disclosed,  provided that no other issues  concerning  the operation of
         the  Licence  Agreement  shall  be  discussed  at that  meeting  in the
         presence  (whether  physical,   audible  or  electronic)  or  with  the
         participation of either or both of the LVMH Representatives.

2.3      IPSA, IPInc, Philippe Benacin and Jean Madar will ensure that:

         (A)      all issues concerning the proper day to day performance of the
                  Licence Agreement by IPSA (including design, product
                  development, marketing, promotion, advertising etc) will be
                  dealt with by IPSA alone and (save for the disclosure and
                  discussion of Permitted Information) without reference to
                  IPInc;

                                      241
<PAGE>

         (B)      all issues relating to Burberry and/or the Licence Agreement
                  which (subject to Paragraphs 2.1 and 2.3(A) above) are
                  reported back or referred to IPInc by IPSA (except for
                  Permitted Information) shall be handled exclusively by a
                  committee of IPInc executives, which shall not include either
                  of the LVMH Representatives or any other Prohibited Person;
                  and

         (C)      no member of that committee shall report or disclose (or
                  permit the disclosure of) any Information to any Prohibited
                  Person.

2.4      Without  prejudice to Paragraphs  2.1 to 2.3 above,  if (despite  those
         Paragraphs)  any  Information  is disclosed to or obtained by either of
         the LVMH  Representatives,  neither of the LVMH  Representatives  shall
         disclose that information to any other Prohibited Person (including but
         not limited to the other LVMH Representatives),  nor use it (nor permit
         it to be used) for any  purpose  other than the proper  performance  by
         IPInc and/or IPSA of its obligations under the Licence Agreement or any
         other  purpose  which is  essential  in order to perform the  fiduciary
         duties of the LVMH Representatives as directors of IPInc.

2.5      Each  of  IPInc,   IPSA,   Philippe   Benacin  and  each  of  the  LVMH
         Representatives  shall  execute and deliver to Burberry  within 30 days
         after  the  end of  each  calendar  year a  certificate  of  compliance
         substantially in the form set out in the schedule to this Agreement and
         it shall be a material breach of this Agreement if:

         (A)      any of them has not issued such a certificate within that time
                  period and fails to do so within 30 days after Burberry has
                  notified IPInc and IPSA in writing of that failure; and/or

         (B)      any such certificate is false or misleading in any material
                  respect.

3.       BOARD REPRESENTATION ON IPSA

3.1      IPInc, Philippe Benacin and Jean Madar shall ensure that:

         (A)      no Prohibited Person shall appoint or nominate or seek to
                  appoint or nominate (directly or indirectly) any director or
                  officer of IPSA; and

         (B)      no Prohibited Person, nor any employee, officer, agent or
                  representative of any Prohibited Person, will become a
                  director or officer of IPSA, unless they do so as part of a
                  bona fide acquisition by IPSA of the business of an LVMH
                  Affiliate and on completion of that acquisition the relevant
                  person ceases to be an employee, officer, agent or
                  representative of the LVMH Affiliate and becomes a full time
                  officer or employee of IPSA.

         PROVIDED THAT this Paragraph 3.1 shall not limit the performance by the
         LVMH Representatives of their fiduciary duties as directors of IPInc.

3.2      LV Capital shall not appoint or seek to appoint or nominate (directly
         or indirectly) any director or officer of IPSA; and

3.3      No LVMH Representative shall be appointed or serve as a director or
         officer of IPSA.

                                      242
<PAGE>

4.       NOTICE

4.1      Any notice to be given  under this  Agreement  shall be in writing  and
         shall be deemed sufficiently given to the party to be served if it is:

         (A)      delivered by hand; or

         (B)      sent by courier provided the service used is such that sender
                  receives a receipt indicating successful delivery,

                  to the following addresses:

                  Burberry:         St. Albans House, 10 St. Albans Street,
                                    London SW1Y 4SQ, United Kingdom

                  IPSA:             4, rond point des Champs Elysees, 75008
                                    Paris, France

                  IPInc:            551 Fifth Avenue, New York, NY 10176 USA.

                  Philippe Benacin/and or Philippe Santi:   c/o IPSA at the
                                                            address given above

                  Jean Madar/and or LVMH Representative:    c/o IPInc at the
                                                            address given above

                  or to such other  address(es)  as may be notified from time to
                  time in accordance with this Agreement.

5.       GENERAL PROVISIONS

5.1      The rights and remedies  contained in this Agreement are cumulative and
         not exclusive of any other rights or remedies, whether provided by law,
         equity or otherwise.

5.2      This Agreement  constitutes  the entire  agreement  between the parties
         with  respect  to its  subject  matter  and  (other  than  the  Licence
         Agreement)  supersedes all prior  agreements and  understandings  (both
         oral and  written)  between  the  parties  with  respect to the subject
         matter of this Agreement.

5.3      Nothing in this Agreement shall constitute or be deemed to constitute a
         partnership  between  the  parties  or to make one  party  the agent of
         another for any purposes.

5.4      Each party represents and warrants to the other parties that it has the
         full right,  power and  authority to enter into this  Agreement  and to
         perform all of its obligations under it.

5.5      No  amendments  to or  modifications  of any of the  provisions of this
         Agreement  shall be effective  unless they are in writing and signed by
         the  parties  (if  they  are   individuals  or  their  duly  authorised
         representatives (if they are companies).

5.6      No forbearance,  indulgence or relaxation  shown or granted by Burberry
         to any other  party in  enforcing  any of the  terms of this  Agreement
         shall in any way affect, diminish, restrict, operate as or be deemed to
         be a waiver of any breach of any of those terms by any other party.  No
         single or partial  excuse of any right or remedy  under this  Agreement
         shall  prevent  any  further  exercise  of the  right to  remedy or the
         exercise of any other right or remedy.

                                      243
<PAGE>

5.7      Each party shall bear its own costs in relation to the negotiation and
         preparation of this Agreement.

5.8      This  Agreement  shall be subject to and construed in  accordance  with
         English law. The English Courts shall (subject as mentioned below) have
         exclusive  jurisdiction  to determine any disputes  which may arise out
         of, under, or in connection with this Agreement,  provided that nothing
         contained in this Agreement  shall prevent  Burberry from obtaining any
         injunctive or other similar  relief which may be available to it in the
         Courts of any other  jurisdiction  or state in any particular  case and
         the other parties each submit to the jurisdiction of any such court. It
         is  acknowledged  that  damages  would not be an adequate  remedy for a
         breach of this Agreement.

5.9      This Agreement may be executed in any number of  counterparts,  each of
         which when  executed  shall be an  original,  but all the  counterparts
         shall constitute one and the same instrument.

IN WITNESS  WHEREOF THE DULY  AUTHORISED  REPRESENTATIVES  OF THE  PARTIES  HAVE
EXECUTED THIS AGREEMENT ON THE DAY FIRST BEFORE WRITTEN.

                                      244
<PAGE>

SIGNED for and on behalf of
BURBERRY LIMITED by:
Signature:
Name:
Title:

SIGNED for and on behalf of
INTER PARFUMS, S.A. by:
Signature:
Name:
Title:

SIGNED for and on behalf of
INTER PARFUMS, INC. by:
Signature:
Name:
Title:

SIGNED for and on behalf of
LV CAPITAL, USA, INC by:
Signature:
Name:
Title:

SIGNED by JEAN MADAR
Signature:

SIGNED by PHILIPPE BENACIN
Signature:

SIGNED by PHILIPPE SANTI
Signature:

SIGNED by DANIEL PIETTE
Signature:

SIGNED by JEAN CAILLIAU
Signature:

                                      245
<PAGE>

                                    SCHEDULE

                            CERTIFICATE OF COMPLIANCE

To:      Burberry Limited
         18-22 The Haymarket
         London SW1Y 4DQ

FAO:     General Counsel

                                                                 Dated [o] 20[o]
                            CERTIFICATE OF COMPLIANCE

1.       I/We  refer to the  Confidentiality  Agreement  dated [o] 2004  between
         Burberry Ltd,  Inter  Parfums,  S.A.,  Inter  Parfums,  Inc.,  Philippe
         Benacin,  Jean Madar,  Philippe Santi, Daniel Piette, Jean Cailliau and
         LV Capital, USA, Inc (the "CONFIDENTIALITY AGREEMENT").

2.       I/We  hereby  certify  and  confirm to  Burberry  Limited  that all the
         provisions  of  Paragraph  3  of  the  Confidentiality  Agreement  were
         complied with in full during the year.

3.       I/We are fully aware of the  consequences if this  certificate is false
         or misleading in any material respect.

[FOR INDIVIDUALS]                                 [FOR INTER PARFUMS S.A./INC.]

Signed by:                                                    Signed by:

Name:.................................     Name:................................

                                           Title:...............................

Signature:..............................   Signature:...........................

                                           Duly authorised for and on behalf of

                                           INTER PARFUMS SA/INC

in the presence of:

Name of witness:........................................

.........................................................

Address of witness......................................

.........................................................

Occupation of witness...................................

Signature of witness....................................

                                      246
<PAGE>

                         SCHEDULE 4 : COMPETING BRANDS

[--------------------------------------------](28)

------------------------
28       Confidential information omitted and filed separately with the SEC with
         a request for confidential treatment by Inter Parfums, Inc. No.
         10.111:28.

                                      247
<PAGE>

                 SCHEDULE 5 : PRESIDENT OF BURBERRY FRAGRANCES

o        Heads Burberry Fragrances division of the Licensee

o        Responsible for the operational direction of the Burberry Fragrances
         business within the Licensee

o        Responsible for making proposals for the strategic direction of the
         Burberry Fragrances business within the Licensee

o        Directs product development, marketing (including public relations,
         Advertising and Promotion) and sales and distribution, subject to the
         Business Plans and Marketing Plans provided for under this Agreement
         and the Advertising and Promotion expenditure described in clause 15 of
         this Agreement

o        Supervises production, logistics and operations

o        Responsible for recruitment, designation and management of Burberry
         Fragrances personnel.

                                      248
<PAGE>

                        SCHEDULE 6 : MINIMUM LICENCE FEE

PART A

--------------------------------------------------------------------------------
LICENSED YEAR                                         MINIMUM LICENCE FEE

--------------------------------------------------------------------------------
2005                                                  [----------](29)
--------------------------------------------------------------------------------
2006                                                  [----------](29)
--------------------------------------------------------------------------------
2007                                                  [----------](29)
--------------------------------------------------------------------------------
2008                                                  [----------](29)
--------------------------------------------------------------------------------
2009                                                  [----------](29)
--------------------------------------------------------------------------------
2010                                                  [----------](29)
--------------------------------------------------------------------------------
2011                                                  [----------](29)
--------------------------------------------------------------------------------
2012                                                  [----------](29)
--------------------------------------------------------------------------------
2013                                                  [----------](29)
--------------------------------------------------------------------------------
2014                                                  [----------](29)
--------------------------------------------------------------------------------
2015                                                  [----------](29)
--------------------------------------------------------------------------------
2016                                                  [----------](29)
----------------------------------------------------- --------------------------
PART B

----------------------------------------
                        MARKETING
                        THRESHOLD
                          SALES
                    ((EURO) MILLION)
----------------------------------------
              2004
----------------------------------------
              2005 [-----](30)
----------------------------------------
              2006          [-----](30)
----------------------------------------
              2007          [-----](30)
----------------------------------------
              2008          [-----](30)
----------------------------------------
              2009          [-----](30)
----------------------------------------
              2010          [-----](30)
----------------------------------------
              2011          [-----](30)
----------------------------------------
              2012          [-----](30)
----------------------------------------
              2013          [-----](30)
----------------------------------------
              2014          [-----](30)
----------------------------------------
              2015          [-----](30)
----------------------------------------
              2016          [-----](30)
----------------------------------------

-----------------------
(29)     CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SEC WITH
         A REQUEST FOR CONFIDENTIAL TREATMENT BY INTER PARFUMS, INC. NO.
         10.111:29.

(28)     Confidential information omitted and filed separately with the SEC with
         a request for confidential treatment by Inter Parfums, Inc. No.
         10.111:30.

                                      249
<PAGE>

                         SCHEDULE 7 : THE DISTRIBUTORS

                                   SCHEDULE 8
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
     COUNTRY          COMPANY          CONTACT              TEL                FAX                       ADRESSE
------------------------------------------------------------------------------------------------------------------------------------
    <S>             <C>             <C>              <C>               <C>                  <C>
    ARGENTINA         GRETA SA      RENATO SAPHIR    54 11 45 22 50 00  54 11 45 21 11 41   ALVAREZ  THOMAS  2423 1431 BUENOS
                                                                                            AIRES - ARGENTINA
------------------------------------------------------------------------------------------------------------------------------------
     ARMENIA         NUSHIKIAN      GEVORG AZATYAN     37 41 56 00 54    37 41 56 42 92     11-1  Sayat  Nova  Ave, Yerevan
                    ASSOCIATION                                                             ARMENIA
------------------------------------------------------------------------------------------------------------------------------------
    AUSTRALIE          COSMAX        FRANK BREEN      61 29 695 56 78    61 29 695 56 88    13/2  Beauchamp   Road,
                                                                                            Banksmeadow, NSW2019 Sydney
------------------------------------------------------------------------------------------------------------------------------------
     AUSTRIA          FASHION        LISA LOHNER     43 316 295 536 23  43 316 295 643 55   GMEINSTRASSE   22a  A-8055   GRAZ
                      COSMETIC                                                              AUSTRIA
------------------------------------------------------------------------------------------------------------------------------------
   AZERBADJIAN          TAKI           MR SAMIR        98,218,031,819      153,013,889      N(degree)  6  Mamed   Alie  Ave , Baku
                    DISTRIBUTION                                                            AZERBAIJAN
------------------------------------------------------------------------------------------------------------------------------------
     BAHREIN        YOUSUF WAHAB   ABDUL W. ALHAWAJ     973,230,088        973,240,011      po box 891, Manama BARHAIN
                      AL HAWAJ
------------------------------------------------------------------------------------------------------------------------------------
    BANGLADESH     BANGLA PERFUME      MR SHAH         88,029,886,999    88,029,885,101     house 4b, road 13, Gulshan, Dhaka
------------------------------------------------------------------------------------------------------------------------------------
     BELGIUM          MOUREAU         MR MOUREAU       32,2,285,0080      32,2,230,2978     rue   de   treves   53   B   1040
                                                                                            BRUXELLES Belgique
------------------------------------------------------------------------------------------------------------------------------------
     BOLIVIE       FRAGANCE CORP.  Emma VERCELLESI     591.336.82.82      591.332.68.62     SUAREZ  DE  FIGUEROA   287  SANTA
                                                                                            CRUZ BOLIVIA
------------------------------------------------------------------------------------------------------------------------------------
      BOSNIE           ORBICO     ELVIRA NEDZIBOVIC    387 336 36 285    387 336 36 287     luzansko  polje 7 - 7100 sarajevo
                                                                                            BOSNIA
------------------------------------------------------------------------------------------------------------------------------------
      BRESIL           MEXTRA        ANDREA DINIZ      55 11 251 5977    55 11 28 79 168    AV.  PAULISTA  2202 cj 65/66  CEP
                                                                                            01310-300 SAO PAOLO BRAZIL
------------------------------------------------------------------------------------------------------------------------------------
      CANADA         PUIG NORTH      LISA CURTIS      14 16 620 39 79    14 16 695 28 81    5401 Eglinton Avenue West,  Suite
                      AMERICA                                                               205, Etobicoke, Ontario M9C5K6
------------------------------------------------------------------------------------------------------------------------------------
      CHILI         GRETA CHILE     RENATO SAPHIR    54 11 45 22 50 00  54 11 45 21 11 41   ALVAREZ  THOMAS  2423 1431 BUENOS
                                                                                            AIRES - ARGENTINA
------------------------------------------------------------------------------------------------------------------------------------
     CROATIA         ORVAS PLUS     SILVA PLESTINA     38,513,460,910     3,851,346,930     koturaska  69  -  10  000  zagreb
                                                                                            CROATIA
------------------------------------------------------------------------------------------------------------------------------------
      CYPRUS       VASSOS ELIADES     Y. TYMVIOS      357,722,897,359      35722897455      Eliades  Building,  24  Aristides
                                                                                            Str, Ay  Dometios,  Po Box 21085,
                                                                                            Nicosie CYPRIUS
------------------------------------------------------------------------------------------------------------------------------------
     DENMARK          CARETTE         B. CARETTE       45 33 12 03 15    45 33 12 70 15     Bredgade 63,1,  DK1260 Copenhague
                     COSMETICS                                                              DENMARK
------------------------------------------------------------------------------------------------------------------------------------
     ECUADOR            LAS           PABLO JARA       593 7 835 853      593 7 842 670     COMPLEJO  LA LAGUNA  EDIF.  PINAR
                    FRAGRANCIAS                                                             DEL  LAGO  PENT  HOUSE  P.O.  BOX
                                                                                            01.01.0890 CUENCA / ECUADOR
------------------------------------------------------------------------------------------------------------------------------------
      EGYPT          AL SHARIF      SAID AL SHARIF     202 348 68 64      202 335 54 50     11  HARROON  ST  FLAT  N(degree) 8 DOKKI
                     MARKETING                                                              GIZA EGYPT
------------------------------------------------------------------------------------------------------------------------------------
  EMIRATS ARABES      GHADEER         SYED ABEDI       971 4 825 000      971 4 825 053     po box 2623, Dubai
       UNIS           TRADING
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                      250
<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
     COUNTRY          COMPANY          CONTACT              TEL                FAX                       ADRESSE
------------------------------------------------------------------------------------------------------------------------------------
    <S>             <C>             <C>              <C>               <C>                  <C>
     ESTONIA       KARL LARK ESTI   INGA GRINBERG      3,726,563,786      3,726,563,729     ehitajate  tee 148/a - EE 13517 -
                                                                                            tallin
------------------------------------------------------------------------------------------------------------------------------------
     FINLAND        OY KARL LARK      P. FORSMAN     35 89 50 64 10 20   35 89 55 05 44     PB13, FIN00381 Helsinki FINLAND
------------------------------------------------------------------------------------------------------------------------------------
     GERMANY          NOBILIS     THOMAS SCHNITZLER    49,611,928,560    496,119,285,678    HAGENAUER   STRASSE 44  E-65203
                                                                                            WIESBADEN GERMANY
------------------------------------------------------------------------------------------------------------------------------------
      GREECE           AROMCA      D. ROUSSOPOULOS     30 12 83 50 01    30 12 83 45 65     6 Papadiamanti Str,
                                                                                            Metamorfosi,14452  Athenes - GREECE
------------------------------------------------------------------------------------------------------------------------------------
 HONG KONG/CHINE      ETERNAL         STEVEN LAU      852 2 796 26 68    852 2 796 20 83    Unit  2203-8,  22/F,  Enterprise
                      OPTICAL                                                               Square  Two,  N(degree)  3  Sheung  Yuet
                                                                                            Road, KNL, HONG KONG
------------------------------------------------------------------------------------------------------------------------------------
     HONGRIE          MARTIMEX        MR MARTON        36 23 44 43 47    36 23 44 43 47     ebner   gyorghy   koz2  - 2040
                      HUNGARY                                                               budaors
------------------------------------------------------------------------------------------------------------------------------------
      INDIA          BACCAROSE     HEMANSU KOTECHA    912,222,873,732    912,222,852,780    66 Maker Chamber VI, Bombay INDIA
------------------------------------------------------------------------------------------------------------------------------------
    INDONESIE        PT TANESIA      MR SATIADHI     62 22 14 585 7535  62 21 45 857 534    JL.   Boulevard   Artha   Gading,
                                                                                            Komplex   Rukan   Artha   Gadang,
                                                                                            Niaga Block 1 n(degree)1,  Sentra Bisnis
                                                                                            Kelapa   Gading,   Kelapa  Gading
                                                                                            Permai, North Jakarta, 14240,
------------------------------------------------------------------------------------------------------------------------------------
       IRAN           FARKISH        MR GHASSEMI       98,212,062,725    98,212,072,126     44 Dashte Behest ave, Teheran
------------------------------------------------------------------------------------------------------------------------------------
     IRELAND       INTERNATIONAL     CLAUS MICHEL     00 3531 2810 278  00 3531 281 0273    TINNA PARK  KLIPEDDER  CO WICKLOW
                      COSMETIC                                                              IRELAND
------------------------------------------------------------------------------------------------------------------------------------
      ISLAND           FORVAL          HARALDUR        354 5 114 777      3,545,114,774     austrurtrond 6 - 127 reykjavik
                                      JOHANNSSON
------------------------------------------------------------------------------------------------------------------------------------
      ISRAEL        SCHESTOWITZ        MICHAEL        00 972 39200 300  00 972 4857 26 37   Industrial Area pob 33083
                                     SCHESTOWITZ                                            HAIFA  31330
------------------------------------------------------------------------------------------------------------------------------------
      ITALY          PA.CO.DIS       JC. MICHELOT    39 02 95 83 82 34  39 02 95 30 91 01   Cascina  Corte  Francesca,
                                                                                            Incugnate di  Truccazzano,  20060
                                                                                            Milan ITALY
------------------------------------------------------------------------------------------------------------------------------------
      JAPON           BLUEBELL      ERIC DOUILHET     813 54 13 10 60    813 54 13 10 56    Shin-Nogizaka    Building,  4th
                                                                                            floor,  1-15-14,  Minami  Aoyama,
                                                                                            Minato-ku, TOKYO 107-0062, JAPON
------------------------------------------------------------------------------------------------------------------------------------
     JORDANIE         IBRAHIM     KHALED ABU SHAQRA    962 6 592 9920    962 6 592 3219     po box 6525, 11118 Amman
                      TRADING
------------------------------------------------------------------------------------------------------------------------------------
      KOREA         I.P.C. TONG         MR KIM         822 423 32 03      822 423 34 21     Sewon Building,  3rd floor, 151-5
                        SANG                                                                Samsung Dong, Kangnam ku,
                                                                                            SEOUL 135-878, KOREA
------------------------------------------------------------------------------------------------------------------------------------
      KOWEIT       WAHRAN TRADING  NAIM ABU SHANAB     9,655,755,212      9,655,744,170     po box 5746, Safat 13058
------------------------------------------------------------------------------------------------------------------------------------
      LATVIA         MIRABELLA    NATALY VASILEVSKA    3,717,080,425      3,717,080,427     23  Antonijas  Street - lv-1010-
/LETTONIE/BIELORUSSIE                                                                       RIGA  - LATVIA
------------------------------------------------------------------------------------------------------------------------------------
     LEBANON        CH. SARRAF &     JOYCE SIRGI       961 1 888 306      961 1 601 559     po box 90201, Jdeidet El Metn
                         CO
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                      251
<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
     COUNTRY          COMPANY          CONTACT              TEL                FAX                       ADRESSE
------------------------------------------------------------------------------------------------------------------------------------
    <S>             <C>             <C>              <C>               <C>                  <C>
     LITUANIA        FRAGRANCE        MR GUDELIS       370 2 610 045      370 2 227 780     vilnius   duty  free - b
                   INTERNATIONAL                                                            radvilaites  str. 1 /pilies
                                                                                            str.2 - 2001 Vilnius LITUANIA
------------------------------------------------------------------------------------------------------------------------------------
    MACEDONIA      ELIKSIR ELENA  VLADIMIR TRENESKI    38,923,086,074    38,923,086,071     ul.  Kozle  124b - 1000  skopje
                       DOOEL                                                                MACEDONIA
------------------------------------------------------------------------------------------------------------------------------------
     MALAYSIA      BEAUTE CONCEPT   CHUNG TZE MAY      603 216 288 99     603 263 18 99     A-11.1,  Block  A,  Megan  Phileo
                                                                                            Ave,  12  Jalan  Yap  Kwan  Seng,
                                                                                            50450 Kuala Lumpur, West MALAYSIA
------------------------------------------------------------------------------------------------------------------------------------
      MAROC        CINQUIEME SENS     HIND ROZZ        212 22 24 62 26   212 22 24 62 40    158  BLD   ABDELLAH   BEN  YACINE
                                                                                            BELVEDERE CASABLANCA
------------------------------------------------------------------------------------------------------------------------------------
      MEXICO         CLARINS DE   JEAN-MARIE LE ROY   52 55 5281 39 90  52 55 52 81 41 63   MUSSET  35 COL. REFORMA  POLANCO
                       MEXICO                                                               11550 MEXICO DF
------------------------------------------------------------------------------------------------------------------------------------
   NETHERLANDS     ELHA COSMETIC      LEO HERTZ        31,172,507,442    31,172,500,255     ELHA  COSMETICS  BV  DFS
                                                                                            LEIMUIDERDIJK  298   2154MS
                                                                                            BURGERVEEN NETHERLANDS
------------------------------------------------------------------------------------------------------------------------------------
  NEW CALEDONIA       IMPORLUX     GEORGES GONZALEZ     689 43 58 20      689 43 58 20      14 route  despointes  po box 3691
                                                                                            98800 NOUMEA  - NEW CALEDONIA
------------------------------------------------------------------------------------------------------------------------------------
   NEW ZEALAND      BLUM IMPORTS    Mr Markus BLUM     6,493,098,009      6,493,098,017     Po  Box  9113, New  market,
                                                                                            Auckland NEW ZEALAND
------------------------------------------------------------------------------------------------------------------------------------
     NORVEGE           SOLIS        S. HJELMELAND      47 67 10 81 40    47 67 10 81 50     Vollsveien   13H, 1366  Lysaker
                                                                                            NORWAY
------------------------------------------------------------------------------------------------------------------------------------
       OMAN        CAPITAL STORE     HAIDER JAWAD       968,796,200        968,797,277      po box 335, Ruwi
                                        SULTAN
------------------------------------------------------------------------------------------------------------------------------------
     PAKISTAN          BEAUTE        IMRAN AHMED       92,214,919,001    92,214,933,578     258 D, KDA Extension 1A, Karachi
                      PAKISTAN
------------------------------------------------------------------------------------------------------------------------------------
PANAMA / COLOMBIE      WAKED         Abdul WAKED        507.441.4444      507.441.6598      CALLE 15  AVENUE  ROOSEVELT  ZONA
                                                                                            LIBRE DE COLON -PANAMA
------------------------------------------------------------------------------------------------------------------------------------
     PARAGUAY           JGA       JACQUES ALLINQUANT   595.21.27.160     595.21.215.078     CAPITAN  CAPINELLI  N(degree) 3620
                                                                                            ESQUINA  ABENTE HAEDO  ASUNCION -
                                                                                            PARAGUAY
------------------------------------------------------------------------------------------------------------------------------------
       PERU          GRETA PERU     RENATO SAPHIR    54 11 45 22 50 00  54 11 45 21 11 41   ALVAREZ  THOMAS  2423 1431 BUENOS
                                                                                            AIRES - ARGENTINA
------------------------------------------------------------------------------------------------------------------------------------
   PHILIPPINES       BEAUTEONE      V. MARCHADESCH     63 27 57 28 32    63 27 28 30 23     25/F Yuchengo Tower, RCBC plaza,
                       S'PORE                                                               6819 Ayala  Corner Sen. Gil Puyat
                                                                                            Ave, Makati City.
------------------------------------------------------------------------------------------------------------------------------------
     POLOGNE         SELECTIVE     GERARD COEFFIER     48,225,980,770    48,225,980,784     ul. Bitwy  warszawskiej 1920r 7b
                       BEAUTY                                                               - 02366 warszawa
------------------------------------------------------------------------------------------------------------------------------------
     PORTUGAL           LUSO         JP SAUTHIER      351 1 322 31 50    351 1 322 31 60    rua  do  alecrim  38/2e - 1200
                   HELVETICA LDA                                                            Lisbon Portugal
------------------------------------------------------------------------------------------------------------------------------------
      QATAR          BLUE SALON    ASHRAF ABU ISSA      974,441,424        974,446,456      po box 6255, Doha QATAR
------------------------------------------------------------------------------------------------------------------------------------
   REP. TCHEQUE      APRO DELTA    HELENA EGNEROVA    420,541,225,270    420,541,225,270    spotovni  letiste  medlanky  - ul
                                                                                            turisticka - 621 00  brno  CZECH
                                                                                            REPUBLIC
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                      252
<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
     COUNTRY          COMPANY          CONTACT              TEL                FAX                       ADRESSE
------------------------------------------------------------------------------------------------------------------------------------
    <S>             <C>             <C>              <C>               <C>                  <C>

     RUMANIA          PRESTIGE      CRISTINA LAZAR    40 21 20 17 130    40 21 20 17 772    rue  domnita  ruxandra  12 - 5e
                       PARFUM                                                               etage - sector 2 - 7000  bucarest
                                                                                            RUMANIA
------------------------------------------------------------------------------------------------------------------------------------
      RUSSIE          COFIDEC       MARC KAPUSTIN     70 95 73 031 70    70 95 73 031 17    3-1bat, Gubkina St. 117333 Moscow
------------------------------------------------------------------------------------------------------------------------------------
   SAUDI ARABIA       NATIONAL     GHAITH AL MALKI     96,626,518,580    96,626,516,636     po box 337, JEDDAH 21411
                    MARKETING CO
------------------------------------------------------------------------------------------------------------------------------------
      SERBIE        TOMAS & RAY     JELENA JANILIC    3 81 11 3691 543  3 81 11 3690 750    Andre   Nikolica  12A - 11 000
                                                                                            Belgrade
------------------------------------------------------------------------------------------------------------------------------------
    SINGAPOUR        BEAUTE'ONE     Patrick CHONG      65 64 88 88 61    65 62 86 11 84     13  Tai   Seng   Drive,   Luxasia
                                                                                            Building,  #03-02/03  Singapore
                                                                                            535219,
------------------------------------------------------------------------------------------------------------------------------------
     SLOVENIA         G-TRADE         MR LEDNIK        386 63 40 640     386 63 484 960     LJUBLANSKA CESTA 042 - 3000
                                                                                            CELJE SLOVENIA
------------------------------------------------------------------------------------------------------------------------------------
      SPAIN           COLOMER     CRISTINA MARIGOMEZ   34 91 309 0277    34 91 309 2371     CALLE  GOYA  115 - 28009  MADRID
                                                                                            SPAIN
------------------------------------------------------------------------------------------------------------------------------------
    SRI LANKA        PEE BEE GP       MR SURTANI        941,552,871       9,411,255,871     55 Chatam str. Colombo 1
------------------------------------------------------------------------------------------------------------------------------------
      SWEDEN         LANDSTROM       MR LANDSTROM      46 31 45 14 10    46 31 45 14 62     Sisjo  Kullegata 8, 421 31 Vastra
                                                                                            Frolunda SWEDEN
------------------------------------------------------------------------------------------------------------------------------------
   SWITZERLAND        FRANCOIS       F. BERGERAT       41 22 827 5620    41 22 827 5629     13 rue le Royer GENEVE 26 SUISSE
                      BERGERAT
------------------------------------------------------------------------------------------------------------------------------------
      TAIWAN         BEAUTE'ONE       AILEEN JEN       88,622,528,528    886,225,285,926    G11F-10,n(degree)188,Nan  King  E,  Rd.,
                                                                                            Sec 5, Taipei
------------------------------------------------------------------------------------------------------------------------------------
     THAILAND       NOBLE COSPER        SHERRY       66 27 21 23 61 68   66 27 21 23 60     24   Soi   Onnuch  62, Onnuch
                                    VITHYAVIRANONT                                          Latkrabang Road,
                                                                                            10250 Suan Luang Bangkok.
------------------------------------------------------------------------------------------------------------------------------------
     TUNISIA         COSMETICA        MR FARHAT        216 3 465 021      216 3 465 468     Route   de   Sousse  KM2 51010
                                                                                            OUARDANINE
------------------------------------------------------------------------------------------------------------------------------------
      TURKEY       TE HA GUZELLIK    Vedat AKYOL      90 212 347 32 00  90 212 347 13 57    Dikilitas   Mahallesi, Hamidiye
                                                                                            Sokak n(degree)1, Blamumcu,
                                                                                            Istanbul 80700 TURKEY
------------------------------------------------------------------------------------------------------------------------------------
       U.K.          FRAGRANCE     Georges PHARAND    44,207,284,1456    44,207,267,8815    SPRING  HOUSE  10B  SPRING PLACE
                      FACTORY                                                               NW5 3BH LONDON
------------------------------------------------------------------------------------------------------------------------------------
     UKRANIA          BROCARD        RITA MASSAD       49 30 880 110    49 30 880 112 99    Schluter Str. 54, D10629
                      PARFUMS
------------------------------------------------------------------------------------------------------------------------------------
     URUGUAY         URU-GRETA      RENATO SAPHIR    54 11 45 22 50 00  54 11 45 21 11 41   ALVAREZ  THOMAS  2423 1431 BUENOS
                                                                                            AIRES - ARGENTINA
------------------------------------------------------------------------------------------------------------------------------------
    USA LOCAL       COSMOPOLITAN      DON LOFTUS       2,129,806,400      2,129,806,464     909 3rd Ave, New York, NY 10022
                                                                                            USA
------------------------------------------------------------------------------------------------------------------------------------
    UZBEKISTAN       BREFAC LTD      ERIK COKINI      998,711,143,866    998,711,143,865    72/3,  rue  Abror Khidoyatov,
                                                                                            Tachkent
------------------------------------------------------------------------------------------------------------------------------------
     VIETNAM        PHUONG PHAT   MR TRAN QUOC CHUNG   84 8 9104 772      84 8 9104 784     Sai Gon Trade  Center - Unit 113,
                                                                                            37 Ton Duc Thang street,
                                                                                            Ben  Nghe  Ward,  District  1,
                                                                                            HO CHI MINH CITY, VIETNAM
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                      253
<PAGE>

IN WITNESS  WHEREOF THE DULY  AUTHORISED  REPRESENTATIVES  OF THE  PARTIES  HAVE
EXECUTED THIS AGREEMENT ON THE DAY AND YEAR FIRST BEFORE WRITTEN.

SIGNED for and on behalf of
BURBERRY LIMITED by:

Signature: /s/ Rose Marie Bravo

Name: Rose Marie Bravo

Title: Chief Executive

SIGNED for and on behalf of
INTER PARFUMS, S.A. by:

Signature: /s/ Philippe Benacin

Name: Philippe Benacin

Title:   PDG

SIGNED by:

Signature: /s/  Jean Madar

Name: Jean Madar

Title:   CEO

and by:

Signature: /s/ Philippe Benacin

Name: Philippe Benacin

Title:   President

duly authorised on behalf of
INTER PARFUMS, INC.
and thereby executed by
INTER PARFUMS, INC.
as its deed

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00086-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00086-of-00352.parquet"}]]