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November 18th

Stabilimenti Ferrari

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Managing Director, Head Luxury Goods Team, Merrill Lynch

Antoine Colonna is Managing Director of Equity Research and the head of the Luxury Goods team at Merrill Lynch. He joined Merrill Lynch in July 1999
from Crédit Lyonnais, where he held a similar position for the previous eight
years. Antoine and his team have consistently been ranked as one of the
top three teams on the sector across all key analyst rankings (i.e
Institutional Investor, Extel). This year, Merrill Lynch's Luxury Goods team
came first in both the I.I. and Extel surveys. Antoine ranked respectively as
5th and 1st Pan-European analyst across all sectors in the 2004 Extel Europe
and France surveys. Antoine is "Mover and Shaker" of the Fashion Industry in
2004 (the Times). His team is the 4th most ranked sector team at Merrill Lynch
out of 34. Antoine is a certified analyst (SFAF/EFFAS), holds an MBA from
Strathclyde University (Glasgow), a Masters in Finance from Dauphine
University (Paris) and a BA in Business Management from Toulouse Business School.