Go-ahead to the merger of the Sicilian banks. Credito Valtellinese Group authorized to implement guidelines for the merger by the competent Authorities

Palermo, April 19 2002 - Sicily's regional government and the Bank of Italy have authorized the Credito Valtellinese banking Group to implement a plan for the merger of the Banca Popolare Santa Venera S.p.A. and the Leasingroup Sicilia S.p.A. into the Banca Regionale Sant'Angelo S.p.A., which is leading to establish a new bank: the Credito Siciliano S.p.A.

Following the authorization, extraordinary meetings of the shareholders will be called by the Banca Regionale Sant'Angelo and Leasingroup Sicilia on May 21 2002 and by the Banca Popolare Santa Venera on May 20 (first call) and May 21 (second call) to resolve on the details of the merger.