Sec Form 4 Filing - BOLLER KRAUKAUER FRANCES @ G III APPAREL GROUP LTD /DE/ - 2003-09-11

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person BOLLER KRAUKAUER FRANCES 2. Issuer Name and Ticker or Trading Symbol G III APPAREL GROUP LTD /DE/ [ GIII] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) VP-Mens Sales (of subsidiary) (Last) (First) (Middle) C/O GIII APPAREL GROUP LTD, 512 SEVENTH AVE 3. Date of Earliest Transaction (MM/DD/YY) 09/11/2003 (Street) NEW YORK, NY10018 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock, $.01 par value per share 09/11/2003 M 700 A $ 2 0 D Common Stock, $.01 par value per share 09/11/2003 S 700 D $ 10 0 D Common Stock, $.01 par value per share 09/11/2003 M 5,000 A $ 1.63 0 D Common Stock, $.01 par value per share 09/11/2003 S 5,000 D $ 10 0 D Common Stock, $.01 par value per share 09/11/2003 M 5,000 A $ 2.75 0 D Common Stock, $.01 par value per share 09/11/2003 S 5,000 D $ 10 4,500 I By Husband

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deem ed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Employee Stock Option (Right to Buy) $ 2 09/11/2003 M 700 ( 1 ) 12/05/2004 Common Stock 700 $ 0 0 D Employee Stock Option (Right to Buy) $ 1.63 09/11/2003 M 5,000 ( 1 ) 05/07/2005 Common Stock 5,000 $ 0 0 D Employee Stock Option (Right to Buy) $ 2.75 09/11/2003 M 5,000 ( 1 ) 12/11/2005 Common Stock 5,000 $ 0 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other BOLLER KRAUKAUER FRANCES C/O GIII APPAREL GROUP LTD 512 SEVENTH AVE NEW YORK, NY10018 VP-Mens Sales (of subsidiary) Signatures /s/ Frances Boller Krakauer 09/15/2003 Signature of Reporting Person Date

Explanation of Responses:

( 1 )This option vested in equal amounts on each of the first five anniversary dates of the date of grant.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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