From the Richemont site:RICHEMONT AND FERRARIFerrari and Richemont have agreed to enter into an exclusive license agreementfor the development, manufacturing and distribution of watches by Richemontunder the Ferrari brand;Panerai, the Italian historical brand recognised for the high quality, technologyand style of its timepieces, will be responsible for the development of hautehorlogerie Ferrari watches following the concept ??Ferrari engineered by Panerai??;Panerai will present its first collection of Ferrari watches in spring 2006;Panerai will be appointed ??Official Timekeeper to Ferrari?? with immediate effect.Read the official pressrelease here.