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Interim Nine Months 2011
14 December 2011

This document and the information herein does not constitute an offer to sell, to buy or to exchange, nor an invitation to make an offer tobuy, to sell or to exchange, nor a recommendation or advice, regarding any security issued by the Inditex Group. This document contains forward-looking statements. All statements other than statementsof historical fact included herein, including, without limitation, those regarding our financial position, business strategy, management plans and objectives for future operations are forward-lookingstatements. Any such forward-looking statements are subject to risk and uncertainty and thus could differ materially from actual results. Some of these risks include, amongst others, ongoingcompetitive pressure in the sector, consumer tastes and spending trends, economic, political, regulatory and trade conditions in the markets where the Inditex Group is present or in the countries where theGroup’s products are manufactured or distributed. The risks and uncertainties that could affect the forward-looking statements are difficult to predict. The company assumes no obligation to publiclyrevise or update its forward-looking statements in the case of unexpected changes, events or circumstances that could affect them. Given the uncertainties of forward-looking statements, we cautionreaders not to place undue reliance on these statements. For a discussion of these and other factors that may affect forward looking statements and the Inditex Group’s business, financial conditions andresults of operations, see the documents and information communicated by the company to the Comisión Nacional del Mercado de Valores (the Spanish Securities Commission). The contents of this disclaimershould be taken into account by all persons or entities.



Interim Nine Months 2011: Overview
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Sales growth in local currencies +11% High operational efficiency and cost...
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