BANCA DELL'ARTIGIANATO E DELL'INDUSTRIA ADOPTS 2002 BALANCE SHEET
INCREASES RECORDED IN DIRECT DEPOSITS, INVESTMENTS AND INTEREST MARGIN
FURTHER DEVELOPMENT OF THE LOCAL BANKING NETWORK

Brescia, April 11, 2003. In a meeting which was held today, in Brescia, the shareholders of Banca dell'Artigianato e dell'Industria (BAI) adopted the BAI 2002 balance sheet.

The year ended December 31, 2002 recorded increases in direct deposits, investments and interest margin also for the Credito Valtellinese Group member bank based in Brescia. Details of the 2002 balance sheet are as follows:

Direct deposits at € 49.5 million, compared with € 39.7 million for the previous year (+24.65%)
Investments at € 88.7 million, compared with € 64.6 million for the previous year (+37%)
Interest margin at € 3.1 million, compared with € 2.4 million for the previous year (+29.49%)

Such increases were also linked to the opening of three new branches during 2001. Strongly committed to serving customers in its home territory, BAI is planning a further development of the local banking network. In fact, four more branch offices are scheduled for opening in the coming year, of which the one in Rovato was already opened March 31, 2003.