Combined Shareholders’ MeetingMay 15, 2008

Haute CoutureSpring/Summer 2008

CONSOLIDATED FINANCIAL HIGHLIGHTS(EUR millions)

16,016

797

2006

2,791

14,556

2005

1,654

618

2,133

3,209

17,245

880

2007

2,328

3,610

Revenue

Profit from recurring operations

Net Profit

Of which: Group share

CONSOLIDATED REVENUE(EUR millions)

2005 2006 2007

14,556

2005 2006 2007

14,556

16,01617,045

Other markets

8%

France

14%

Europe (excluding France)

23%

United States

25%

Japan

11%

Asie (excluding Japan)

19%

BREAKDOWN OF REVENUE

By geographic region of delivery

Christian Dior Couture

5%

Wines and Spirits

19%

Fashion and

Leather Goods

33%Perfumes

and Cosmetics

16%

Watches

and Jewelry

5%

Selective Retailing

24%

By business group

Other activities and eliminations : - 2%N.B.

BREAKDOWN OF REVENUE

Euro

31%

US Dollar

29%

Yen

11%

Other currencies

29%

BREAKDOWN OF REVENUE

By invoicing currency

Ready-to-WearSpring/Summer 2008

PROFIT FROM RECURRING OPERATIONS

(EUR millions)

2005 2006 2007

2,7913,209

3,610

GROUP SHARE OF NET PROFIT(EUR millions)

618

797880

2005 2006 2007

Haute CoutureSpring/Summer 2008

� Robust revenue growth

� Significant improvement in operating profit

� Strong growth of more recent activities : Ready-to-Wear for men, Footwear and Jewelry

� Ongoing selective investment strategy focusing on high-growth markets

� Strong media impact of the 60th anniversary celebrations

HIGHLIGHTS

REVENUE(EUR millions)

663731

787

2005 2006 2007

Retail activities

and other

75%

Wholesale activities

21%

License royalties

4%

BREAKDOWN OF REVENUE

By business group

221

184 194

215

7592

116

144159

1999 2000 2001 2002 2003 2004 2005 2006 2007

NUMBER OF DIRECTLY-OPERATED STORES

x 2,9

RETAIL REVENUE(EUR millions)

511557

592

2005 2006 2007

PROFIT FROM RECURRING OPERATIONS

(EUR millions)

53 56

74

2005 2006 2007

Ready-to-WearSpring/Summer 2008

� Strategy based on three major themes :

– New product launches in line with the Brand's upscale image

– Network expansion focusing on high-growth markets

– Constant optimization of operating assets and processes

OUTLOOK

Christal WatchSpring/Summer 2008

� Wines and Spirits

� Fashion and Leather Goods

� Perfumes and Cosmetics

� Watches and Jewelry

� Selective Retailing

LVMH BUSINESS GROUPS

WINES AND SPIRITS(EUR millions)

PROFIT FROM

RECURRING OPERATIONS

2005 2006 2007

REVENUE

2005 2006 2007

2,644

2,9943,226

1,058962869

FASHION AND LEATHER GOODS(EUR millions)

2005 2006 2007 2005 2006 2007

PROFIT FROM

RECURRING OPERATIONSREVENUE

4,812

5,2225,628

1,4671,829

1,633

PERFUMES AND COSMETICS(EUR millions)

2005 2006 2007

256222173

2005 2006 2007

PROFIT FROM

RECURRING OPERATIONSREVENUE

2,2852,519

2,731

WATCHES AND JEWELRY(EUR millions)

833

737

585

2005 2006 2007

14180

21

2005 2006 2007

PROFIT FROM

RECURRING OPERATIONSREVENUE

SELECTIVE RETAILING(EUR millions)

2005 2006 2007

439400347

2005 2006 2007

PROFIT FROM

RECURRING OPERATIONSREVENUE

3,6483,891

4,179

“Jazz Club” BagSpring/Summer 2008

. Other

Non-current assets

. Intangible assets

Current assets

Equity

Non-current liabilities

Current liabilities

TOTAL = 34.7 billion euros

AssetsLiabilities

& equity

. Property, plant and equipment

BALANCE SHEET AS OF DECEMBER 31, 2007

47%

40%

35%

25%

16%

6%

31%

Net cash from operations after

financial charges and taxes

Dividends

Investments

Net change in working capital

Other

Net change in current available for sale

financial assets

(EUR billions)

CONSOLIDATED CASH FLOW

0,8

1,3

3,0

0,5

0,3

0,3

0,1

Net change in cash and cash equivalentsNet change in borrowings 0,3

293256

211

2005 2006 2007

1,16

Total (EUR millions)

Gross amount proposed to the Shareholders’ Meeting(*)

1,41

1,61(*)

DIVIDEND

Dividend per share (in euros)

(*)

Combined Shareholders’ MeetingMay 15, 2008

Christian Dior

Financière

Jean Goujon

100%

LVMH

42,4%

Christian DiorCouture

100%

(as of December 31, 2007)

SIMPLIFIED ORGANIZATIONAL CHART

Listed company(*)

(*)

(*)

SHARE PRICE TREND

65 €

75 €

85 €

95 €

105 €

Jan-07 Apr-07 Jul-07 Oct-07 Jan-08

Combined Shareholders’ MeetingMay 15, 2008