X0202 4 2007-08-09 0000906782 CYGNE DESIGNS INC CYDS.OB 0001409954 Kraif Serge 19 AVENUE KRIEG 1208 GENEVA V8 SWITZERLAND 0 0 1 0 Common Stock 2007-08-09 4 J 0 8800000 A 8800000 D Common Stock 115000 D Serge Kraif acquired the reported securities on August 9, 2007 pursuant to a note conversion agreement with the Issuer effective January 31, 2007, pursuant to which, upon approval of the stockholders of the Issuer, the Issuer issued (i) 8,800,000 shares of its common stock in payment of $22.0 million of $37.0 million of the outstanding $38.5 million principal amount of a convertible subordinated promissory from the Issuer held by the Reporting Person in the principal amount of $38.5 million (the "Note"); (ii) a convertible note in the principal amount of $15.0 million that is convertible into shares of Issuer common stock at a conversion price of $3.50 per share in payment of $15.0 million of the Note, and (iii) a warrant to purchase up to 4,400,000 shares of the Issuer's common stock at a price of $3.00 per share. The Issuer received approval of its stockholders on August 9, 2007. /s/ Serge Kraif 2007-08-15