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<SEC-DOCUMENT>0001157523-08-009445.txt : 20081120
<SEC-HEADER>0001157523-08-009445.hdr.sgml : 20081120
<ACCEPTANCE-DATETIME>20081119211448
ACCESSION NUMBER:		0001157523-08-009445
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20081119
FILED AS OF DATE:		20081120
DATE AS OF CHANGE:		20081119

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATUZZI S P A
		CENTRAL INDEX KEY:			0000900391
		STANDARD INDUSTRIAL CLASSIFICATION:	HOUSEHOLD FURNITURE [2510]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11854
		FILM NUMBER:		081202361

	BUSINESS ADDRESS:	
		STREET 1:		VIA IAZZITIELLO 47
		CITY:			SANTERAMO ITALY
		STATE:			L6
		ZIP:			70029

	MAIL ADDRESS:	
		STREET 1:		VIA IAZZITIELLO 47
		CITY:			SANTERAMO ITALTY
		STATE:			L6
		ZIP:			999999999

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NATUZZI INDUSTRIES SPA
		DATE OF NAME CHANGE:	19950823
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a5836420.htm
<DESCRIPTION>NATUZZI S.P.A. 6-K
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2008 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 10pt; font-family: Times New Roman">
    <p style="text-align: right">
      <font style="font-family: Times New Roman; font-size: 10pt">CONFORMED</font>
    </p>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt">Securities
      and Exchange Commission</font><br><font style="font-family: Times New Roman; font-size: 12pt">Washington,
      D.C. 20549</font><br><br><br><font style="font-family: Times New Roman; font-size: 18pt"><b>FORM
      6-K</b></font><br><br><br><font style="font-family: Times New Roman; font-size: 12pt">Report
      of Foreign Issuer</font><br><font style="font-family: Times New Roman; font-size: 12pt">Pursuant
      To Rule 13a-16 Or 15d-16</font><br><font style="font-family: Times New Roman; font-size: 12pt">Of
      The</font><br><font style="font-family: Times New Roman; font-size: 12pt">Securities
      Exchange Act of 1934</font><br><br>
    </p>
    <div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-family: Times New Roman; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            For the month of November 2008
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 34%">
          &#160;
        </td>
        <td valign="top" style="text-align: right; padding-left: 0.0px; width: 33%">
          Commission File Number 1-11854
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      <br>
      <font style="font-family: Times New Roman; font-size: 18pt"><b>NATUZZI
      S.p.A.</b></font><font style="font-family: Times New Roman"><br style="font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 10pt">(Translation
      of Registrant's name into English)</font><font style="font-family: Times New Roman"><br style="font-family: Times New Roman"></font><font style="font-family: Times New Roman"><br style="font-family: Times New Roman"></font><font style="font-family: Times New Roman"><br style="font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 10pt">Via&#160;Iazzitiello
      47</font><font style="font-family: Times New Roman"><br style="font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 10pt">70029
      Santeramo, Italy</font><font style="font-family: Times New Roman"><br style="font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 10pt">(Address
      of principal office)</font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman"><br style="font-family: Times New Roman">
      </font>
    </p>
    <p style="text-indent: 30.0px; text-align: left">
      <font style="font-family: Times New Roman; font-size: 10pt">(Indicate by
      check mark whether the registrant files or will file annual reports
      under cover of Form 20-F or Form 40-F.)</font>
    </p>
    <p style="text-align: left">
      <font style="font-family: Times New Roman; font-size: 10pt">(Check
      One)&#160;Form 20-F</font><u><font style="font-family: Times New Roman; font-size: 10pt">&#160;&#160;&#160;X&#160;&#160;&#160;&#160;</font></u><font style="font-family: Times New Roman; font-size: 10pt">
      &#160;&#160;&#160;Form 40-F</font><u><font style="font-family: Times New Roman; font-size: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></u>
    </p>
    <p style="text-indent: 30.0px; text-align: left">
      <font style="font-family: Times New Roman; font-size: 10pt">(Indicate by
      check mark whether the registrant by furnishing the information
      contained in this Form is also thereby furnishing the information to the
      Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act
      of 1934.)</font>
    </p>
    <p style="text-align: left">
      <font style="font-family: Times New Roman; font-size: 10pt">(Check One)
      Yes </font><u><font style="font-family: Times New Roman; font-size: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;
      </font></u><font style="font-family: Times New Roman; font-size: 10pt">&#160;&#160;
      No </font><u><font style="font-family: Times New Roman; font-size: 10pt">&#160;&#160;&#160;&#160;X&#160;&#160;&#160;&#160;&#160;</font></u>
    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">(If &quot;Yes&quot; is
      marked, indicate below the file number assigned to the registrant in
      connection with Rule 12g3-2(b). 82-___) </font>
    </p>
    <p style="text-indent: 30.0px">

    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: right">

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Natuzzi
      SpA Third Quarter and First Nine Months 2008 Consolidated Financial
      Results</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Third
      Quarter 2008 Financial Highlights</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Total
        Net Sales up 0.7% to EUR 142.3 Million (or up 4.6% at Constant
        Exchange Rate) Units Sold up 3.8% over 3Q07</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Operating
        Loss at EUR 12.2 Million (or EUR 9.8 at Constant Exchange Rate) vs.
        Operating Loss of EUR 11.0 Million in 3Q07</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Net
        Loss at EUR 16.2 Million, vs. Net Loss of EUR 14.1 Million Reported in
        3Q07</b></font>
      </li>
    </ul>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>First
      Nine Months 2008 Financial Highlights</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Total
        Net Sales up 5.8% to EUR 483.9 Million (or up 11.1% at Constant
        Exchange Rate) Units Sold up 7.5% over the Same Period in 07</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Operating
        Loss at EUR 29.5 Million (or EUR 16.3 at Constant Exchange Rate) vs.
        Operating Loss of EUR 28.2 Million Reported in the Same Period in 07</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Net
        Loss at EUR 42.1 Million vs. Net Loss of EUR 23.1 Reported in the Same
        Period in 07</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-family: Times New Roman; font-size: 12pt"><b>Expected
        Full Year 2008 Operating Loss in the EUR 35-40 Million Range vs.
        Operating Loss of EUR 49.1 Million in FY 2007</b></font>
      </li>
    </ul>
    <p>

    </p>
    <p>
      SANTERAMO IN COLLE, Bari, Italy--(BUSINESS WIRE)--November 19, 2008--The
      Board of Directors of Natuzzi S.p.A. (NYSE: NTZ) (&#8216;Natuzzi&#8217;, &#8216;the
      Company&#8217; or &#8216;the Group&#8217;), Italy's largest furniture manufacturer and one
      of the world&#8217;s leading makers of leather-upholstered furniture, today
      presented consolidated financial results for the third quarter and first
      nine months of 2008.
    </p>
    <p>
      Aldo Uva, Chief Executive Officer of the Natuzzi Group, commented:
      &#8220;Despite the 5.8% growth of our net sales reported in the first nine
      months of 2008, a highly positive performance in a singularly downbeat
      shopping environment, our profitability was by no means satisfactory.
      Our operating profitability suffered from unfavorable exchange rates,
      with a net impact of nearly EUR 20 million, and from excessively high
      operational costs. The improvement of our gross margin is one of the top
      strategic priorities of our three-year plan, and we are continuing to
      see abundant signs that this business plan is built on the right
      assumptions. We are aware that there is a lot of work ahead of us, but
      we are confident that we will recover profitability within the next few
      quarters.&#8221;
    </p>
    <p>
      Mr. Uva added: &#8220;In the past few weeks, beyond the finalization of our
      business plan, we have considerably strengthened our managerial base
      with the arrival of seasoned professionals as Mariano Domingo, Chief
      Financial Officer &amp; IT/Lean, and Umberto Bedini, SVP Operations, who
      will put their vast international experience behind the delivery of our
      targets. For full year 2008, we are expecting the growth in total sales
      to be roughly in line with the level achieved in the first nine months,
      while our operating loss should be in the range of EUR 35 to 40 million,
      as compared to a loss of EUR 49.1 million reported for full year 2007.&#8221;
    </p>
    <p>
      <b>CONSOLIDATED FINANCIAL RESULTS</b>
    </p>
    <p>
      <b>NET SALES</b>
    </p>
    <p>
      In the third quarter ended September 30, 2008, total net sales of the
      Natuzzi Group amounted to EUR 142.3 million, up slightly from EUR 141.3
      million reported for the third quarter of 2007. Third quarter units sold
      increased by 3.8% compared to the same quarter of the previous year.
    </p>
    <p>
      In the first nine months ended September 30, 2008, total net sales of
      the Natuzzi Group amounted to EUR 483.9 million, up 5.8% from EUR 457.5
      million reported for the same period of 2007. During the first nine
      months of 2008, units sold increased by 7.5% compared to the same period
      of the previous year.
    </p>
    <p>
      In the third quarter of 2008, sales of seats under the Natuzzi brand
      decreased by 8.5% reflecting decreases of 9.8% in the Americas and 11.0%
      in Europe, whereas unit sales in the Rest of the World rose by 11.4%.
      During the same period sales of seats under the Italsofa brand increased
      by 12.2% thanks to positive results in the Americas (+32.4%) and in the
      Rest of the World (+35.0%), partly off set by a 11.8% decrease in Europe.
    </p>
    <p>
      In the first nine months of 2008, sales of seats under the Natuzzi brand
      decreased by 1.5%, reflecting increases of 0.2% in the Americas and
      13.1% in the Rest of the World, offset by a 5.7% decrease in Europe.
      During the same period, sales of seats under the Italsofa brand rose by
      15.1%, achieving positive results in the Americas (+20.0%), Europe
      (+5.9%) and in the Rest of the World (+53.4%).
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      During the third quarter, five new Natuzzi stores were opened (one each
      in The Netherlands, the US, Russia, Italy and Qatar), whereas three
      Natuzzi stores were closed (one each in Portugal, Switzerland and
      Russia), bringing the total number of Natuzzi points of sales to 314 at
      the end of September 2008. Furthermore, in the quarter, two new Italsofa
      stores were opened in China, bringing the total number of Italsofa
      stores to 12. Finally, two new concessions were opened in the UK,
      bringing the total number of concessions operated by the Group to 17.
      The total number of Natuzzi Galleries worldwide was 420 at September 30,
      2008.
    </p>
    <p>
      <b>GROSS PROFIT AND OPERATING RESULTS</b>
    </p>
    <p>
      During third quarter 2008, Gross Profit amounted to EUR 36.7 million (or
      EUR 40.5 million at constant exchange rates), as compared to a Gross
      Profit of EUR 38.6 million in third quarter 2007.
    </p>
    <p>
      For the third quarter of 2008, the Group reported an operating loss of
      EUR 12.2 million, as compared to an operating loss of EUR 11.0 million
      in the third quarter of 2007. On a constant exchange rate basis, the
      Group would have reported an operating loss for the third quarter of
      2008 of EUR 9.8 million.
    </p>
    <p>
      During the first nine months of 2008, Gross Profit amounted to EUR 128.9
      million (or EUR 147.8 million at constant exchange rates), as compared
      to a Gross Profit of EUR 130.6 million reported for the same period in
      2007.
    </p>
    <p>
      For the nine month period ended September 30, 2008, the Group reported
      an operating loss of EUR 29.5 million, as compared to an operating loss
      of EUR 28.2 million in the same period of 2007. On a constant exchange
      rate basis, the Group would have reported an operating loss for the
      third quarter of 2008 of EUR 16.3 million.
    </p>
    <p>
      <b>FOREIGN EXCHANGE, NET</b>
    </p>
    <p>
      During the third quarter of 2008, the Group incurred a net foreign
      exchange loss of EUR 3.2 million, as compared to a net foreign exchange
      loss of EUR 5.9 million in the prior year&#8217;s comparable quarter. The
      foreign exchange losses were mainly due to the following:
    </p>
    <div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="3" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Three months ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <b>30-Sep-08</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <b>30-Sep-07</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Gains (Losses) on mark-to-market
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (5.2)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (2.6)
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Netting figures on domestic currency swaps
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.1
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.0
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt">
          Other, net*
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          1.9
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          (4.3)
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Total Foreign Exchange, Net</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(3.2)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(5.9)</b>
        </td>
      </tr>
    </table>
    </div>
    <p>
      * deriving from a) the difference between invoice exchange rates and
      collection/payment exchange rates and b) the remeasurement of accounts
      receivable and payable at the period-end exchange rates
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      During the first nine months of 2008 the Group incurred a net foreign
      exchange loss of EUR 8.1 million, as compared to a net foreign exchange
      loss of EUR 4.8 million in the prior year&#8217;s comparable period. The
      foreign exchange losses were mainly due to the following:
    </p>
    <div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="3" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Nine Months ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <b>30-Sep-08</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <b>30-Sep-07</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Gains (Losses) on mark-to-market
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (3.0)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (5.8)
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Netting figures on domestic currency swaps
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.6
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          6.2
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt">
          Other, net*
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          (6.7)
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          (5.2)
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Total Foreign Exchange, Net</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(8.1)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(4.8)</b>
        </td>
      </tr>
    </table>
    </div>
    <p>
      * deriving from a) the difference between invoice exchange rates and
      collection/payment exchange rates and b) the remeasurement of accounts
      receivable and payable at the period-end exchange rates
    </p>
    <p>
      <b>OTHER INCOME (LOSS), NET</b>
    </p>
    <p>
      During the third quarter of 2008 the Group reported a loss EUR 0.9
      million as compared to a gain of EUR 0.4 million in 2007.
    </p>
    <p>
      During the first nine months of 2008 the Group reported a loss EUR 2.1
      million as compared to a gain of EUR 3.3 million in 2007. The decrease
      was mainly attributable to exceptional income such as a refund of tax
      and write off of a provision for legal action occurred during the first
      nine months of 2007.
    </p>
    <p>
      <b>TAXES</b>
    </p>
    <p>
      For the third quarter of 2008 the Group reported EUR 0.1 million of tax
      benefits as compared to tax benefits of EUR 1.9 million.
    </p>
    <p>
      During the first nine months of 2008 the Group recorded income taxes for
      EUR 2.3 million, as compared to EUR 5.2 million of tax benefits for the
      same period of 2007.
    </p>
    <p>
      <b>NET RESULT AND GROUP EARNINGS PER COMPANY&#8217;S SHARE</b>
    </p>
    <p>
      For the quarter ended September 30, 2008, the Group reported a net loss
      of EUR 16.2 million, or EUR 0.30 per share (ADR), compared to a net loss
      of EUR 14.1 million, or EUR 0.26 per share, in the third quarter of 2007.
    </p>
    <p>
      For the first nine months of 2008, the Group reported a net loss of EUR
      42.1 million, or EUR 0.77 per share, as compared to a net loss of EUR
      23.1 million, or EUR 0.42 per share, for the first nine months of 2007.
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>TOTAL BACK LOG TREND</b>
    </p>
    <div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>Total Back Log</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="top" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>31-Dec-07</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="top" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Jun-08</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="top" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-08</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="top" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>9-Nov-08</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>&#8364; million</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          99.5
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          88.7
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          109.6
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          99.1
        </td>
      </tr>
    </table>
    </div>
    <p>
      <b>BALANCE SHEET AND CASH FLOW</b>
    </p>
    <p>
      Cash and cash equivalents were EUR 57.1 million at September 30, 2008,
      as compared to EUR 97.7 million at September 30, 2007. The most
      significant changes in the Group&#8217;s cash flows between the first nine
      months of 2008 and 2007 are described below.
    </p>
    <p>
      Cash flows used in operating activities were EUR 26.2 million in 2008,
      as compared to cash flows used by operations of EUR 11.1 million in
      2007. This decrease of EUR 15.1 million from 2007 to 2008 resulted
      principally from the Group&#8217;s net loss of EUR 42.1 million in 2008, as
      compared to a net loss of EUR 23.1 million in 2007. In 2008 working
      capital was affected by the negative impact of trade receivables, net
      and accounts payable, partly offset by positive impact generated by
      inventories.
    </p>
    <p>
      Cash flows used in investment activities in 2008 decreased EUR 10.7
      million to EUR 8.2 million, due to a lower level of investments for the
      first nine months of 2008 as compared to the same period of prior year.
    </p>
    <p>
      Cash provided by financing activities in 2008 totaled EUR 2.9 million up
      from EUR 0.5 million reported one year ago.
    </p>
    <p>
      <u><b>FIRST NINE MONTHS AND</b></u> <u><b>THIRD QUARTER 2008 CONFERENCE
      CALL</b></u>
    </p>
    <p>
      <b>Aldo Uva</b>, Chief Executive Officer, and <b>Mariano Domingo</b>,
      Chief Financial Officer, will discuss financial results, followed by a
      question and answer session, in a teleconference at 10:00 a.m. New York
      time (3:00 p.m. London time &#8211; 4:00 p.m. Italian time) on Thursday
      November 20, 2008. Interested participants should contact the Company&#8217;s
      Investor Relations Department at <u>investor_relations@natuzzi.com</u>,
      or <u>natuzzi@gavinanderson.co.uk</u> for dial-in details. A copy of the
      transcript of the conference can be requested at the above mentioned
      e-mail addresses.
    </p>
    <p>
      <u><b>INVESTOR AND ANALYST PRESENTATIONS</b></u>
    </p>
    <p>
      The Company&#8217;s Senior Management will meet investors and analysts in
      early December to discuss its 2009-2011 Business Plan, outlook and
      results. Investors and analysts wishing to meet management
      representatives should contact the Investor Relation department, or,
      alternatively, the following:
    </p>
    <p>
      Natalie Biasin: +44 20 7554 1400
    </p>
    <p>
      Angela Tucciarone: +1 212 515 1900
    </p>
    <p>
      or send an e-mail to: <u>natuzzi@gavinanderson.co.uk</u>
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <u><b>ABOUT NATUZZI S.P.A.</b></u>
    </p>
    <p>
      Founded in 1959 by Pasquale Natuzzi, Natuzzi S.p.A. designs and
      manufactures a broad collection of residential upholstered furniture.
      With 2007 consolidated revenues of EUR 634.4 million on, Natuzzi is
      Italy's largest furniture manufacturer.
    </p>
    <p>
      The Natuzzi group exports its innovative high-quality sofas and
      armchairs to 123 markets on five continents under two brands, Natuzzi
      and Italsofa.
    </p>
    <p>
      Cutting-edge design, superior Italian craftsmanship, and advanced,
      vertically integrated manufacturing operations underpin the Company's
      market leadership.
    </p>
    <p>
      Natuzzi S.p.A. has been listed on the New York Stock Exchange since May
      1993. The Company is ISO 9001 and 14001 certified.
    </p>
    <p>
      <u><b>___________________________________________________________________</b></u>
    </p>
    <p>
      <u><i><b>FORWARD-LOOKING STATEMENTS</b></i></u>
    </p>
    <p>
      <i>Statements in this press release other than statements of historical
      fact are &#8220;forward-looking statements&#8221;. Forward&#8211;looking statements are
      based on management&#8217;s current expectations and beliefs and therefore you
      should not place undue reliance on them. These statements are subject to
      a number of risks and uncertainties, including risks that may not be
      subject to the Group&#8217;s control, that could cause actual results to
      differ materially from those contained in any forward-looking statement.
      These risks include, but are not limited to, fluctuations in exchange
      rates, economic and weather factors affecting consumer spending,
      competitive and regulatory environment, as well as other political,
      economical and technological factors, and other risks identified from
      time to time in the Group&#8217;s filings with the Securities and Exchange
      Commission, particularly in the Group&#8217;s annual report on Form 20-F.
      Forward looking statements speak as of the date they were made, and the
      Group undertakes no obligation to update publicly any of them in light
      of new information or future events.</i>
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td colspan="19" valign="top" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>NATUZZI S.P.A. AND SUBSIDIARIES</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Unaudited Consolidated Statement of Earnings for the quarters
            ended on
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            September 30, 2008 and 2007 on the basis of Italian GAAP
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Expressed in millions of EUR except per share data)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="11" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>3Q08</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; padding-bottom: 2.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Actual</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>% on sales</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>constant fx*</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>% on sales</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>3Q07</b>
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>% on sales</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Upholstery net sales
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          125.1
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          87.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          130.6
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          88.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          125.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          88.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Other sales
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          17.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          12.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          17.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          11.6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          16.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          11.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Total Net Sales</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>142.3</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>147.8</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>141.3</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Purchases
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (71.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (50.4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (73.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (49.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (65.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (46.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Labor
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (21.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (15.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (21.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (14.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (21.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (15.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Third-party Manufacturers
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (4.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (3.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (4.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (2.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (3.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (2.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Manufacturing Costs
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (10.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (7.4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (10.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (7.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (9.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (7.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Inventories, net
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          2.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          2.4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (2.6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (1.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Cost of Sales</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(105.6</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(74.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(107.3</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(72.6</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(102.7</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(72.7</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Gross Profit</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>36.7</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>25.8</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>40.5</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>27.4</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>38.6</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>27.3</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Selling Expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (36.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (25.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (38.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (25.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (38.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (27.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          General and Administrative Expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (12.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (8.6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (12.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (8.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (11.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (8.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Operating Income (Loss)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(12.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(8.6</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(9.8</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(6.6</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(11.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(7.8</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Interest Income, net
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Foreign Exchange, net
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (3.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (2.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (5.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (4.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Other Income, net
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Earnings (Losses) before taxes and minority interest</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(16.4</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(11.5</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(16.1</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(11.4</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Income taxes
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Earnings (Losses) before minority interest</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(16.3</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(11.5</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(14.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(10.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Minority Interest
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Net Earnings (Losses)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(16.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(11.4</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(14.1</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(10.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Earnings (Losses) Per Share</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(0.30</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(0.26</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Average Number of Shares Outstanding</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          54,853,045
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          54,824,227
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          * at 3Q07 exchange rates
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Key Figures in U.S. dollars (millions)</b>
        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>3Q08</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>3Q07</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Total Net Sales
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          213.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          194.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Gross Profit
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          55.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          53.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Operating Income (Loss)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (18.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (15.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Net Earnings (Losses)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (24.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (19.4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Earnings (Losses) per Share
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.45
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.36
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          Average exchange rate (U.S. dollar per Euro)
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          1.5030
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          1.3746
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td colspan="19" valign="top" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>NATUZZI S.P.A. AND SUBSIDIARIES</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Unaudited Consolidated Statement of Earnings
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            for nine months ended September 30, 2008 and 2007 on the basis of
            Italian GAAP
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Expressed in millions of EUR except per share data)
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="19">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="17" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Nine months ended on</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="11" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>30-Sep-08</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: center; padding-left: 0.0px">
          <b>30-Sep-07</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="text-align: left; padding-left: 0.0px">
          <b>% on sales</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Actual</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>% on sales</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>constant fx*</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>% on sales</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Upholstery net sales
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          426.7
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          88.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          450.9
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          88.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          406.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          88.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Other sales
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          57.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          11.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          57.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          11.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          51.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          11.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Total Net Sales</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>483.9</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>508.1</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>457.5</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Purchases
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (227.6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (47.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (232.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (45.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (223.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (48.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Labor
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (77.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (15.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (77.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (15.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (73.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (16.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Third-party Manufacturers
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (13.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (2.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (13.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (2.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (11.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (2.4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Manufacturing Costs
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (32.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (6.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (33.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (6.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (29.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (6.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Inventories, net
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (3.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (3.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          10.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          2.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Cost of Sales</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(355.1</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(73.4</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(360.3</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(70.9</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(326.9</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(71.5</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Gross Profit</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>128.9</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>26.6</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>147.8</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>29.1</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>130.6</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>28.5</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Selling Expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (123.4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (25.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (128.6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (25.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (123.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (27.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          General and Administrative Expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (35.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (7.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (35.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (7.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (34.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (7.6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Operating Income (Loss)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(29.5</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(6.1</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(16.3</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(3.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(28.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(6.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Interest Income, net
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Foreign Exchange, net
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (8.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (1.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (4.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (1.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Other Income, net
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (2.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          3.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Earnings (Losses) before taxes and minority interest</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(40.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(8.3</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(28.5</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(6.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Income taxes
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (2.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )%
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          5.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Earnings (Losses) before minority interest</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(42.3</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(8.7</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(23.3</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(5.1</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Minority Interest
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Net Earnings (Losses)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(42.1</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(8.7</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(23.1</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(5.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Earnings (Losses) Per Share</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(0.77</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(0.42</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Average Number of Shares Outstanding</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          54,853,045
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          54,824,227
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="4" valign="top" style="text-align: left; padding-left: 0.0px">
          * average first nine months of 2007
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Key Figures in U.S. dollars (millions)</b>
        </td>
        <td>

        </td>
        <td colspan="14" valign="bottom" style="text-align: center; padding-left: 0.0px">
          <b>Nine months ended on</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2" valign="top" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-08</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2" valign="top" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-07</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Total Net Sales
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          736.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          615.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Gross Profit
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          196.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          175.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Operating Income (Loss)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (44.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (37.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Net Earnings (Losses)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (64.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (31.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Earnings (Losses) per Share
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (1.17
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.56
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          Average exchange rate (U.S. dollar per Euro)
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          1.5223
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          1.3447
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td colspan="27">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="27" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>UPHOLSTERY NET SALES BREAKDOWN</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="12" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Sales*</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="12" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Seat Units</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="9" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Three months ended on</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px">
          <b>% Over</b>
        </td>
        <td>

        </td>
        <td colspan="9" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Three months ended on</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px">
          <b>% Over</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="4" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-08</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="4" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-08</b>
        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>(Under)</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="4" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-08</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="4" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-08</b>
        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>(Under)</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Americas</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>51.0</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>40.8</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>48.7</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>38.9</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>4.7</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>326,795</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>52.9</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>287,502</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>48.3</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>13.7</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Natuzzi
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          22.9
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          18.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          26.7
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          21.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (14.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          115,139
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          18.6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          127,692
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          21.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (9.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %)
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Italsofa
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          28.1
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          22.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          22.0
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          17.6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          27.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          211,656
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          34.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          159,810
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          26.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          32.4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Europe</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>60.2</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>48.1</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>64.6</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>51.5</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>(6.8</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>227,741</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>36.9</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>257,271</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>43.3</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>(11.5</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%)</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Natuzzi
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          33.6
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          26.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          34.9
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          27.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (3.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          83,888
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          13.6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          94,215
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          15.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (11.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %)
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Italsofa
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          26.6
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          21.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          29.7
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          23.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (10.4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          143,853
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          23.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          163,056
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          27.4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (11.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %)
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Rest of the world</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>13.9</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>11.1</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>12.0</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>9.6</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>15.8</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>62,848</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>10.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>50,115</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>8.4</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>25.4</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Natuzzi
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          8.2
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          6.6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          7.3
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          5.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          12.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          22,619
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          3.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          20,313
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          3.4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          11.4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt">
          Italsofa
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          5.7
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          4.6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          4.7
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          3.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          21.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          40,229
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          6.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          29,802
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          5.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          35.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>TOTAL</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>125.1</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>125.3</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(0.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>617,384</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>594,888</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>3.8</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Break down by brand</b>
        </td>
        <td>

        </td>
        <td colspan="12" valign="bottom" style="text-align: center; padding-left: 0.0px">
          <b>Sales*</b>
        </td>
        <td>

        </td>
        <td colspan="12" valign="bottom" style="text-align: center; padding-left: 0.0px">
          <b>Seat Units</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="9" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Three months ended on</b>
        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px">
          <b>% Over</b>
        </td>
        <td>

        </td>
        <td colspan="9" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Three months ended on</b>
        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px">
          <b>% Over</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="4" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-08</b>
        </td>
        <td>

        </td>
        <td colspan="4" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-08</b>
        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>(Under)</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="4" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-08</b>
        </td>
        <td>

        </td>
        <td colspan="4" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-08</b>
        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>(Under)</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Natuzzi
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          64.7
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          51.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          68.9
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          55.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (6.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          221,646
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          35.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          242,220
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          40.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (8.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %)
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt">
          Italsofa
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          60.4
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          48.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          56.4
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          45.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          7.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          395,738
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          64.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          352,668
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          59.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          12.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>TOTAL</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>125.1</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>125.3</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(0.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%)</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>617,384</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>594,888</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>3.8</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td colspan="11" valign="top" style="text-align: left; padding-left: 0.0px">
          * Expressed in millions of EUR
        </td>
        <td colspan="13">

        </td>
        <td colspan="3">

        </td>
      </tr>
    </table>
    </div>
    <div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="12" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Sales*</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="12" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Seat Units</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="9" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Nine months ended on</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px">
          <b>% Over</b>
        </td>
        <td>

        </td>
        <td colspan="9" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Nine months ended on</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px">
          <b>% Over</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td colspan="4" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-08</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="4" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-07</b>
        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>(Under)</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="4" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-08</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="4" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-07</b>
        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>(Under)</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Americas</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>145.9</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>34.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>144.1</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>35.5</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>1.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>920,085</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>46.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>832,657</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>45.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>10.5</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Natuzzi
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          77.9
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          18.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          83.3
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          20.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (6.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          401,666
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          20.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          400,819
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          21.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Italsofa
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          68.0
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          15.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          60.8
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          15.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          11.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          518,419
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          26.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          431,838
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          23.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          20.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Europe</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>239.9</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>56.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>230.2</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>56.6</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>4.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>896,174</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>45.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>888,829</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>48.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>0.8</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Natuzzi
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          141.8
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          33.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          139.5
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          34.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          366,188
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          18.4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          388,161
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          21.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (5.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %)
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Italsofa
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          98.1
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          23.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          90.7
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          22.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          8.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          529,986
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          26.6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          500,668
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          27.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          5.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Rest of the world</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>40.9</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>9.6</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>32.0</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>7.9</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>27.8</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>173,343</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>8.8</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>129,902</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>7.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>33.4</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Natuzzi
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          25.7
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          6.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          21.8
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          5.4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          17.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          72,727
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          3.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          64,291
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          3.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          13.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt">
          Italsofa
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          15.2
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          3.6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          10.2
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          2.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          49.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          100,616
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          5.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          65,611
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          3.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          53.4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>TOTAL</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>426.7</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>406.3</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>5.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>1,989,602</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>1,851,388</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>7.5</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Break down by brand</b>
        </td>
        <td>

        </td>
        <td colspan="12" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Sales*</b>
        </td>
        <td>

        </td>
        <td colspan="12" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Seat Units</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="9" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Nine months ended on</b>
        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px">
          <b>% Over</b>
        </td>
        <td>

        </td>
        <td colspan="9" valign="top" style="text-align: center; padding-left: 0.0px">
          <b>Nine months ended on</b>
        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: left; padding-left: 0.0px">
          <b>% Over</b>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="4" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-08</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="4" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-07</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>(Under)</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="4" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-08</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="4" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>30-Sep-07</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: double black 2.25pt">
          <b>(Under)</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px">
          Natuzzi
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          245.4
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          57.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          244.6
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          60.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          840,581
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          42.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          853,271
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          46.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (1.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          %)
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt">
          Italsofa
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          181.3
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          42.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          161.7
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          39.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          12.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          1,149,021
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          57.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          998,117
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          53.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          15.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>TOTAL</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>426.7</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>406.3</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>5.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>1,989,602</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>1,851,388</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>100.0</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>7.5</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td colspan="11" valign="top" style="text-align: left; padding-left: 0.0px">
          * Expressed in millions of EUR
        </td>
        <td colspan="13">

        </td>
        <td colspan="3">

        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td colspan="5" valign="top" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>NATUZZI S.P.A. AND SUBSIDIARIES</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Unaudited Consolidated Balance Sheet as of&#160;&#160;
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            September 30, 2008 and December 31, 2007&#160;&#160;(Expressed in millions
            of EUR)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>30-Sep-08</b>
        </td>
        <td>

        </td>
        <td valign="top" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>31-Dec-07</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <b>ASSETS</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Current Assets:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          57.1
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          87.5
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Marketable debt securities
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Trade receivables, net
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          111.1
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          117.7
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Other receivables
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          47.6
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          47.8
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Inventories
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          103.6
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          107.3
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Unrealized foreign exchange gains
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.9
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Prepaid expenses and accrued income
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.8
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.8
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          2.0
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.1
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Total current assets</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>323.2</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>364.1</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Non-Current Assets:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Net property, plant and equipment
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          225.2
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          235.9
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Treasury shares
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Other assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          13.3
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          17.3
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; border-bottom: solid black 1.0pt">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          0.2
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>TOTAL ASSETS</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>561.7</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>617.5</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <b>LIABILITIES AND SHAREHOLDERS' EQUITY</b>
        </td>
        <td colspan="4">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Current Liabilities:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Short-term borrowings
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          8.4
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          7.6
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Current portion of long-term debt
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.5
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.3
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Accounts payable-trade
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          66.0
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          89.3
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Accounts payable-other
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          29.8
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          29.2
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Accounts payable shareholders for dividends
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.6
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.6
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Unrealized foreign exchange losses
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          2.1
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Income taxes
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.0
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.6
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Salaries, wages and related liabilities
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          18.9
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          17.5
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Total current liabilities</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>127.3</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>146.1</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Long-Term Liabilities:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Employees&#8217; leaving entitlement
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          32.5
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          33.3
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Long-term debt
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          3.4
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          2.1
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Deferred income for capital grants
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          12.3
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          13.3
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px; border-bottom: solid black 1.0pt">
          Other liabilities
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          10.7
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          10.9
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Minority Interest</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>0.9</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>0.2</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Shareholders&#8217; Equity:</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Share capital
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          54.9
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          54.8
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Reserves
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          42.3
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          42.3
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Additional paid-in capital
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          8.3
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          8.3
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 20.0px">
          Retained earnings
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          269.1
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          306.2
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>Total shareholders&#8217; equity</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>374.6</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>411.6</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>561.7</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>617.5</b>
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td colspan="7" valign="top" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>NATUZZI S.P.A. AND SUBSIDIARIES</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Unaudited Consolidated Statement of Cash Flows
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            for the nine-month period ended September 30, 2008 and 2007
            (Expressed in millions of EUR)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>30-Sep-08</b>
        </td>
        <td>

        </td>
        <td colspan="2" valign="top" style="text-align: center; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>30-Sep-07</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Cash flows from operating activities:</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Net earnings (losses)
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (42.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (23.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Adjustments to reconcile net income to net cash provided by
          operating activities:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          22.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          22.4
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Employees' leaving entitlement
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (1.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (8.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Minority interest
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          (Gain) loss on disposal of assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.2
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Unrealized foreign exchange (losses) / gain
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          3.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          5.8
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Deferred income for capital grants
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.7
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Change in assets and liabilities:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Receivables, net
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          6.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          17.3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Inventories
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          3.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (10.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Prepaid expenses and accrued income
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.4
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Other assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          3.2
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Accounts payable
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (23.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (12.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Income taxes
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.6
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (3.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Salaries, wages and related liabilities
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (1.0
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Other liabilities
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          3.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          2.9
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Total adjustments</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>15.9</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>12.0</b>
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(26.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(11.1</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Cash flows from investing activities:</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Property, plant and equipment:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Additions
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (10.8
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (19.2
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Disposals
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.4
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Government grants received
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Marketable debt securities:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Proceeds from sales
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Purchase of business, net of cash acquired
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.1
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Disposal of business
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>NET CASH USED BY INVESTING ACTIVITIES</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(8.2</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(18.9</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Cash flows from financing activities:</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Long term debt:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Proceeds
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          2.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 35.0px">
          Repayments
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.5
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.3
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Short-term borrowings
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.8
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Capital Injection
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Dividends paid to shareholders
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Dividends paid to minority shareholders
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.0
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>2.9</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>0.5</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Effect of translation adjustments on cash
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1.1
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (0.9
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(30.4</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>(30.4</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 15.0px">
          Cash and cash equivalents, beginning of the year
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          87.5
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          128.1
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; border-bottom: solid black 1.0pt">
          <b>CASH AND CASH EQUIVALENTS, END OF THE PERIOD</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>57.1</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px">
          <b>97.7</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br><u><b>Investor Relations Dept.</b></u><br>Tel.:
      +39-080-8820-812<br>Fax: +39-080-8820-241<br><u>investor_relations@natuzzi.com</u><br>or<br><u><b>Corporate
      Press Office</b></u><br>Tel.: +39-080-8820-124<br>Fax: +39-080-8820-508<br><u>relazioni.esterne@natuzzi.com</u>
    </p>
    <p>

    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
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      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: right">

    </p>
    <p style="text-align: right">
      <font style="font-family: Times New Roman; font-size: 10pt">CONFORMED</font>
    </p>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font><font style="font-family: Times New Roman; font-size: 10pt">
      </font>
    </p>
    <p>

    </p>
    <p style="text-indent: 30.0px">
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned, thereunto duly authorized.</font>
    </p>
    <div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 59%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 31%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            NATUZZI S.p.A.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 59%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 15.0px; width: 31%">
          (Registrant)
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 59%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 31%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 59%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 31%">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 6%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 59%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 31%">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 6%">
          Date:
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 59%">
          November 19, 2008
        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 31%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 59%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 31%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 59%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 4%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            By:
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 31%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>/s/ ALDO UVA</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 59%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 15.0px; width: 31%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Aldo Uva
          </p>
        </td>
      </tr>
    </table>
    </div>
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