Acquisition of BRSA stock

Milan, December 18 2001 - The Board Meeting, which was held today, has led Credito Artigiano to acquire 999,900 Banca Regionale Sant'Angelo S.p.A. shares - representing 22.43% of the capital stock, namely about L. 68.5 billion - from Banca Popolare Sant'Angelo S.c. a r.l.

The acquisition is part of a plan for the reorganization of Credito Valtellinese banking Group's shareholdings in Sicily, as well as of the agreements between the Group and Banca Popolare Sant'Angelo S.c. a r.l. Such agreements were basically related to a take-over bid launched by Credito Artigiano S.p.A., which led the Milanese bank to control Banca Regionale Sant'Angelo S.p.A. in June 2001.

As a result of the acquisition, Credito Artigiano now holds a share of 76.94% of Banca Regionale Sant'Angelo S.p.A. capital stock.