From the Richemont site:


Ferrari F1 & Enzo

Ferrari and Richemont have agreed to enter into an exclusive license agreement
for the development, manufacturing and distribution of watches by Richemont
under the Ferrari brand;
Panerai, the Italian historical brand recognised for the high quality, technology
and style of its timepieces, will be responsible for the development of haute
horlogerie 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.