Credito Valtellinese S.c.a r.l. takes over the whole capital stock of the Rileno S.p.A.

Sondrio, Thursday July 25 2002

The Credito Valtellinese has purchased all the shares of the Rileno S.p.A. from Deutsche Bank. Based in Lecco, Rileno is entrusted with the national tax collection service in the provinces of Como and Lecco. With seven sub-branches in Como, Lecco, Cantů, Erba, Merate, Mariano Comense and Menaggio, it serves an area including 253 municipal districts and 848,000 inhabitants in all. Rileno is basically involved in activities aimed at offering support to the tax system, asset management, and tax collection for the public bodies (State, regional and local governments and other bodies and institutions). In 2001, the company has collected about € 900 million and the revenue has touched to € 17 million. Net profits for the year have amounted to € 1.7 million. The take over of the Rileno is aimed at further increasing the Group's activities in the Public Bodies sector as well as its presence in Lombardy. At present, the Rileno S.p.A. Board of Directors is as follows: Gino Del Marco: Chairman, Matteo Diasio: Managing Director, Giuseppe Mazzucconi, Giovanni Colombo and Franco Sala: members.