DALLAS, Aug 23, 2002/ FW/ --- --- Texas-based Fossil, Inc. announced today that it has acquired European based-companies No-Time AG ("No-Time") and X-Time AG ("X-Time").

No-Time, located in Basel, has acted as the Company's sole distributor in Switzerland since 1988 and currently distributes FOSSIL, EMPORIO ARMANI, DKNY, and Diesel watches.

X-Time owns and operates three retail watch stores in Locarno, Lucern, and Basel, Switzerland.

Commenting on the acquisition, Mike Barnes, President of the Company's International and Special Markets Division, stated, "Europe has become a major market for the Company over the past few years. This acquisition gives us the opportunity to further develop the sales potential in Switzerland and to effectively manage our European brand strategy and product positioning."