Excellent performances for Bancaperta as fund management advisor: the Julius Baer Italian Stock Fund top of the lists of best Italian Stock Funds in most European countries

Milan, May 27, 2003 - The Julius Baer Italian Stock Fund, for which Bancaperta acts as advisor, has been ranked in the top Italian Stock Funds in most European countries for two years running.

In particular, last year , it was ranked first of the total 23 funds available in Germany, first of the total 20 funds available in Austria, second of the total 24 funds available in Switzerland, second of the total 35 funds available in Luxemburg, fourth of the total 102 funds available in Italy.

In 2001, the Julius Baer Italian Stock Fund was ranked first in the German, Austrian and Swiss financial markets.

The above-mentioned fund management ratings were made available by Standard & Poor's Fund Services, a major provider of fund/sicav performance information in some of the main European countries, including Austria, Belgium, France, Germany, Luxemburg, the Netherlands, Spain, Switzerland and, since 2002, also the Italian market.

Furthermore, at the recent Lipper Fund Awards - Italy 2003, the Julius Baer Italian Stock Fund has been awarded Lipper leader for capital preservation 1 by Lipper Inc, a Reuters Group fund analysis and research firm. Being a Lipper Leader for Preservation of Capital is widely regarded as a major distinguishing feature for a company involved in asset management.
Bancaperta is the web bank of the Credito Valtellinese banking Group. Bancaperta S.p.A. is also entrusted with the coordination and management of all financial activities dealt with by the Creval Group. Bancaperta 2002 balance sheet recorded strong increases in the main aggregates. As of December 31, 2002, in fact, direct deposits stood at € 330.2 million (+13.8%), indirect deposits at € 4,076.1 million (+ 40.9%), net profit at € 9.2 million (+ 88.9%).