BULGARI S.P.A. SHARE CAPITAL AMENDMENT

This is to confirm you the new composition in the share capital of Bulgari S.p.A. pursuant the subscription of a number of stock options resolved by the extraordinary shareholders meetings of April 10th 1996, April 29th 2002, April 29th 2003, April 28th 2005, April 18th 2008 and July 21st 2009.

Current Sharecapital
Sharecapital (prior to current update)
Euro
n. shares
Par Value
Euro
n. shares
Par Value
Ordinary shares:

coupon n. 17
24.408.955,27
348.699.361
0,07
23.742.327,77
339.176.111
0,07

This variation has been duly filed on September 19th, 2011.