MONDRIAN

Mondrian Ltd. was created in 1994 and was given its present name in May 2000.

Mondrian is a dynamic and modern company that realized the importance of using renowned brands and production licenses based on the names of prestigious designers, in order to operate on a broad market. The company also understood how significant it is to hire young and talented up-and-coming designers.

Both the number of employees - some 90 working directly at the firm and 500 working in associated manufacturing workshops - and the reputation of the business groups Mondrian works with - Basile, Voyage, Julien Macdonald, Jilles Doufor, Ferragamo - show that the company has achieved its present superior quality level in the clothing field, particularly in Emilia Romagna. In addition, Mondrian holds a commission for providing Alitalia with clothing for all its female personnel, and is about to conclude a further important contract with another company of the business group IRI.

In practical terms, it does not seem sensible any more today to speak of a clothing sector, due to the coexistence of two neatly differentiated trends: brand and anonymous products. The former involves prestigious and renowned articles by famous designers [griffes], while the latter involves "anonymous" products without brand name or market image. The brand sector has seen an increase both of the demand and of proceeds, while the general data concerning non-brand sector show a significant decrease in demand as well as in profits.

Secondly, there is a strong difference between the export-oriented and the domestic market. The annual growth rate of exporting companies has stabilized around 15%, while companies operating on the domestic market have experienced considerable drops and serious problems in terms of unpaid orders.

Briefly, the tendency of the last years shows that only those companies dealing with brand and export-oriented were able to grow.

This is the path Mondrian has chosen to follow, and since Mondrian is one of the few Italian companies (and not just Italian) able to produce, in a single integrated structure, prêt-a-porter and refined collections; knitwear and textiles; the whole range of products (dresses, skirts, trousers, suits) which for some collections [lines] necessitate very challenging technical solutions both in terms of materials (leather, tulle, satin, fur) and of finishing, this operational strategy seems to be the best to achieve more and more ambitious goals.

It is also important to emphasize that the company's structure is fully able to support the forthcoming development plan, and that its employees are not involved in direct production, but concretely in:

- the design and direct production of samples;

- managing relations with designers, testing samples and organizing collections and fashion shows;

- managing purchases of materials and the relevant storage;

- managing technical relations with outside workshops;

- managing the warehouse of finished products and arranging shipments;

- administration and general services.

The manufacture of the articles is completely carried out by highly qualified craftsmen workshops that are constantly tested by Mondrian's personnel.

Mondrian is based in two different locations:

The first one is in:

Via Modenese 1222

Vignola (Modena)

, which is also the registered headquarters of the company. Located on a 4,826 sqm. area, it houses the top management, the administration and commercial offices, and the offices for style and production control; two production units, one for producing samples of textiles and the other for producing samples of knitwear, both equipped with high-technology machinery.

The second location is in:

Via Spilamberto 1557

Vignola (Modena)

where the warehouse for shipments is based, and where the quality tests take place. The upper floor houses the offices for the designers and a hall for fashion shows.

The products are sold in Milan, in Via Montenapoleone, 27, where the showroom is located.

Mirella Solignani Bizzini Chairperson of the Board of Directors

For further information please contact: Christina Cucchiara Tel: (001-39) 750611, Fax: (001-39) 059 762230 E-mail: commerciale@mondriansrl.it Website: www.mondriansrl.it

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