Credito Valtellinese: monthly report on completion of transactions regarding its own shares

Sondrio, February 2, 2007 - Reference was made to the resolution through which members at the Credito Valtellinese's Ordinary Shareholders' Meeting, held on April 22, 2006, renewed the Board of Directors' authorization to carry out the acquisition of its own shares, as well as the re-listing or cancellation of shares, in accordance with art. 12 of the corporate constitution and current regulations.

The proposal, approved by the Shareholders' Meeting, is aimed at encouraging trading in its stock within normal brokerage activities, and provides for operations on own shares being carried out in accordance with the methods and with respect to the limits listed in the meeting's resolution:

With regard to this, it mentions that within the period of time starting at the date of the aforementioned Shareholders' Meeting, up until January 31, 2007, there were 373,489 own shares acquired in the market, equaling 9.34% of the maximum quantity established in the resolution, for a counter-value of € 4,384,768.01, or 8.77% of the maximum counter-value authorized by the shareholders. Over the same period 332,449 shares were sold for a total of € 3,857,189.81.

On January 31, 2007, there were 47,646 of their own shares in Credito Valtellinese's property portfolio, equaling 0.05% of the total amount of shares in circulation as at the date of this report.

The total number of own shares brokered for the period of January 1-31, 2007 was 60,000 (24,000 acquired, 36,000 sold), which corresponds to 0.97% of the monthly average of exchanges in stock carried out during the previous six months, as compared to a maximum value of 25% established at the Shareholders' Meeting.

For further information, contact:

Tiziana Camozzi
Institutional Communication and Press Service
Telephone 0280.637.471
Email: camozzi.tiziana@creval.it

Raffaella Premoli
Institutional Communication and Press Service
Telephone 0280.637.403
Email: premoli.raffaella@creval.it