Credito Siciliano, a new mark in a big family

Palermo, Wednesday, June 19 2002 - the merger of the Banca Popolare Santa Venera Spa - the Credito Valtellinese Group member bank based in Acireale, Sicily - and Leasingroup Sicilia Spa into the Banca Regionale Sant'Angelo Spa has led to the birth of a new bank named Credito Siciliano.

As from June 29 2002, the Credito Siciliano will start operating as a member of the Credito Valtellinese banking Group. As already for the Banca Popolare Santa Venera, the Leasingroup Sicilia and the Banca Regionale Sant'Angelo, also the Credito Siciliano headquarters will be in Sicily. Its fundamental target will be offering support to the development of Sicily's economy, as well as to local communities, thanks to the membership of the CV banking Group, which allow benefiting from the use of advanced technologies and from a wide range of highly competitive products. In addition, the Credito Siciliano is expected to dispose of a network consisting of 133 branches serving any area of its home territory and to establish a close relationship with the local communities.

The act of merger, which was signed today, just a few weeks after the approval by the Extraordinary Meetings of the merging companies, marks the end of a first stage of a project for the reorganization of the Credito Valtellinese Group's network in Sicily. Next stages will be as follows:
July 1 2002 - the Cassa San Giacomo Spa (Credito Valtellinese Group controlled bank based in Sicily) transferring its 15 banking outlets, which mainly serve the Eastern areas of the island, to the Credito Siciliano.
The Cassa San Giacomo will continue to be involved in the management of credit facilities offering its services to the whole Group, in particular as regards the legal department, leasing contracts and legal advice.