Credito Artigiano resolves on non-performing loan selling

Milan, September 16, 2003 - In a meeting held today in Milan, the Board of Directors of Credito Artigiano (Credito Valtellinese banking Group) has resolved on non-performing loan selling to Cassa San Giacomo (Group member company responsible for the management of credit facilities, leasing contracts and legal advice) for a total amount of about 44.3 million euros.

Subject to authorization by the competent Authority, the non-performing loan transaction is being co-ordinated by external advisors.