New marketing programs – Repeat Boutique business is being cultivated through a program of seasonal mailings of catalogs and brochures to established customers and key new prospects. New expansion opportunities – Movado Boutiques represent the front-line opportunity to grow Movado into a full lifestyle brand. Current plans call for the opening of two to five stores a year in select U.S. metropolitan markets during the next five years. Movado Boutique expansion – Store openings by year  1998 Rockefeller Center, New York, NY The Mall at Short Hills, Short Hills, NJ The Westchester, White Plains, NY 1999 Roosevelt Field Mall, Garden City, NY The Venetian, Las Vegas, NV 2000 Riverside Square, Hackensack, NJ Town Center at Boca Raton, Boca Raton, FL 2001 The King of Prussia Mall, King of Prussia, PA  (opening in July) SoHo, New York, NY  (opening in October) Annual Report 2001 13