The Credito Valtellinese Group has created an account for non-profits: a little help for those who help!

Milan, November 16, 2006. The Credito Valtellinese Group, remaining ever-faithful to its principles of solidarity and paying careful attention to the social make-up of the areas it operates in, is now launching the ContoNoProfit (Non-profit Account), an innovative no-expense savings account, reserved for non-profit organizations (ONLUS), associations for social and cultural promotion, and entities active in the fields of health care, recreational sports, the protection of civil rights, and international solidarity. It is an account created specifically for non-profit associations with social aims, which will offer these organizations incredibly advantageous conditions.

Through this non-profit account, the Group is able to meet the associations' needs with regard to financial operations, in addition to offering exemption from fees for holding the account, and keeping charges for regular bank transactions to a minimum. They are also offered a special interest rate, which is connected to the status of the money market.

"With the ContoNoProfit, our Group intends to reinforce careful attention we have always reserved for social welfare projects, encouraging those who are committed to building solidarity on a daily basis, sharing values that are essential to the overall development of society," states the General Director of Credito Valtellinese, Miro Fiordi.

Main characteristics of the ContoNoprofit

Recipients: all associations approved to receive the "5 for every 1,000" withheld from individual people's income, in accordance with the 2006 Finance Act, including the following:

- non-profit (ONLUS) organizations,
- associations for social promotion,
- officially recognized associations and foundations,

and associations that may not have requested the grant of "5 for every 1,000," but that are able to verify that they are non-profit in nature (by presenting the documentation necessary to obtain exemption from stamp duties, following the established procedure, which has been made available at the counters of all branches of the Credito Valtellinese Group), or any association that operates in the areas of health care, education, training, recreational sport, the promotion of art and culture, or the protection of civil rights.

Conditions:
Lending rate for the customer: ECB* -1
Loan rate for the customer in an ordinary line of credit: ECB* +1
Fee for maximum overdraft: 1/8
Fees (fees for the management of relations in each liquidation, annual fees for holding an account with charges for liquidation and fees for recording transactions): not applicable.

Fees for transfers completed through banks associated with the Credito Valtellinese Group

transactions made at the counter	€ 0.75
online transactions	€ 0.00
regular payments	€ 0.00

Fees for transfers completed through other banks

transactions made at the counter	€ 1.75
online transactions	€ 0.50
regular payments	€ 0.50

For further information, contact:

Renè Paniga
Credito Valtellinese Banking Group
Communications and Public Relations
Tel. +39 0280.637.357
fax +39 0280.637.308
paniga.rene@creval.it

Elisabetta Chiappa
Credito Valtellinese Group
Marketing Direction
Tel. +39 0280.637.965
fax +39 0280.637.308
chiappa.elisabetta@creval.it

*ECB= rate applied by the European Central Bank on open-market transactions (MRO-Main Refinancing Operations).