CREDITO VALTELLINESE LAUNCHES BOND ISSUE FOR THE CITY OF SONDRIO AND OFFERS NEW PRODUCT TO THE LOCAL AUTHORITIES TO IMPROVE SERVICES FOR THE CITIZENS

Credito Valtellinese has launched a new bond issue (BOC - Buoni Ordinari Comunali) for more than L. 3.5 billion for the city of Sondrio. The bond issue, which has been called "Cittą di Sondrio 2001-2021", is meant to finance important public works for the city of Sondrio, providing in this way a source of financing to Sondrio Municipal Authorities.

A series of initiatives that the Public Authorities are undertaking is meant to meet the needs of both the market and the citizens accurately and efficiently.

Today, in fact, technology is becoming more and more important in order to increase work efficiency

Credito Valtellinese banking Group has arranged for Treasury and Cash Services, which will allow simplifying operations using the Internet technologies.

Credito Valtellinese offers a new product for the Public Authorities, which consists of three modules:

• Preparing electronic flows with data concerning receipts and disbursements, and forms ready for the relative transactions

• Display at any time of updated data concerning the treasurer's management activity with real time information on accountancy and financial position

• Opportunity to have a web site for the public authority providing in this way useful information to the citizens and enabling them to find updated information about public services and initiatives

Moreover, Credito Valtellinese Group's customers who are also banc@perta users can pay, directly from home, charges and fees to the public authorities.

Today more than 40 public authorities already benefit from Credito Valtellinese Group services. In 2001 the new product is expected to benefit all public authorities whose treasury and cash services are managed by the member banks.

Since 2000, in addition to serving its home territory, Credito Valtellinese has offered Treasury and Cash services to the cities of Tirano (So), Albavilla (Lc), Galbiate (Lc) and to the Stelvio National Park, as well as to more public authorities.