GIOVANNI DE CENSI APPOINTED CREDITO ARTIGIANO MANAGING DIRECTOR

Credito Artigiano General Meeting approved the asset and liability statement on December 31 1997 (net profit 10.8 billion lire) and renewed the company executives.

During the following meeting, Credito Artigiano Board of Directors confirmed Bassano Baroni as Chairman and Giovanni De Censi as assistant Chairman. De Censi was also appointed Managing Director.