Bancaperta: Umberto Colli appointed to the position of General Director.

Milan, July 19, 2006 - The Board of Directors of Bancaperta S.p.A, a bank belonging to the Credito Valtellinese Group, met today with Miro Fiordi acting as chair, and appointed Umberto Colli to the position of General Director.

Colli, 42, graduated with a degree in Economics and Banking from Università degli Studi di Siena, and has a Master's degree in Bank Management from Cefor in Milan. He has been with the Credito Valtellinese Group since 1989, and has been able to fully develop his professional career, gaining a significant amount of experience in the areas of planning, finance, credit, and sales. He has held various positions of increasing responsibility in the Group's banks, the last of which being Assistant Managing Director of Credito Siciliano.

The new General Director will take the place of Norberto Gualteroni, who recently left the position after being appointed Acting Vice Chairman of the Bank, with managerial responsibilities. Deputy General Manager Luigi Tavasci completes the list of top management.

For further information, contact:

Tiziana Camozzi
Institutional Communication and Press Service
Telephone 02 80637471
Email: camozzi.tiziana@creval.it

Raffaella Premoli
Institutional Communication and Press Service
Telephone 02 80637403
Email: premoli.raffaella@creval.it