X0202 4 2008-01-23 0000906782 CYGNE DESIGNS INC CYDS 0001173229 GUEZ HUBERT C/O DIVERSIFIED APPAREL RESOURCES, LLC 121 S. BEVERLY DRIVE BEVERLY HILLS, CA 90212 0 0 1 0 Common Stock 2008-01-23 4 S 0 350000 .74 D 650000 I Diversified Apparel Resources, LLC Common Stock 4381420 D Common Stock 2995140 I See Footnote Diversified Apparel Resources, LLC ("Diversified"), of which the Reporting Person is a member, transferred 350,000 shares to an unrelated party in a private transaction. The Reporting Person may be deemed to beneficially own the shares held by Diversified but disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. Consists of 1,615,915 shares held by the Guez Living Trust dated December 6, 1996 (the "Trust") and 1,379,225 shares held by 215 GZ Partners, which the Trust has a 33.34% ownership interest in. Effective December 20, 2007, the Reporting Person resigned as co-Trustee of the Trust; however, because the remaining sole trustee of the Trust is the Reporting Person's wife who resides in the same household as the Reporting Person, the Reporting Person may be deemed to beneficially own the shares held by the Trust but disclaims beneficial ownership of such shares. /s/ Hubert Guez 2008-01-25