Acquisition of BRSA stock

Sondrio, April 2 2002 - the Credito Valtellinese S.c. a r.l. has acquired 999,900 of the Banca Regionale Sant'Angelo S.p.A.'s shares - representing 22.43 percent of the capital stock - from the Banca Popolare Sant'Angelo S.c. a r.l. In all, the Credito Valtellinese has paid € 35,373,462.3 for the shares.

The acquisition of shares is part of a plan aimed at the reorganization of the Credito Valtellinese banking Group's holdings in Sicily, which will lead to the establishment of a single member bank based in the island.

Following the acquisition, the Credito Valtellinese S.c. a r.l. and the controlled company Credito Artigiano S.p.A. are now holding 22.43 percent and 76.94 percent of the Banca Regionale Sant'Angelo's stock, respectively. In all, the banking Group holds 99.37 percent of the Sicilian bank's capital stock.