X0202 4/A 2007-08-09 2007-08-16 0000906782 CYGNE DESIGNS INC CYDS.OB 0001409954 Kraif Serge 19 AVENUE KRIEG 1208 GENEVA SWITZERLAND 0 0 1 0 Common Stock 2007-08-09 4 J 0 8800000 A 8800000 D Common Stock 115000 D Warrant to Purchase Common Stock 3.00 2007-08-09 4 P 0 4400000 A 2009-02-15 2012-01-31 Common Stock 4400000 4400000 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 "Warrant'). The Warrant is exercisable at any time and from time to time between February 15, 2009 and January 31, 2012. The Issuer received approval of its stockholde The Warrant was acquired pursuant to the note conversion agreement described in footnote (1). The Warrant was inadvertently omitted from the Form 4 filed by Mr. Kraif on August 16, 2007. /s/ Serge Kraif 2007-08-17