Credito Valtellinese Group boosts its size

The "Specialsocio Newsletter", which Credito Valtellinese banking Group is sending to its more than 100,000 shareholders, reports the figures below: Overall incomes totalling more than L. 24,000 billion (+19.6%), direct incomes totalling more than L. 10,600 billion (+ 23.5%, in comparison with 1998), indirect incomes touching to L. 13,500 billion (+16.7%) - more than L. 5000 billion consisting of personalized asset management portfolios - customers' investments totalling nearly L. 7,550 billion (+18.4%). As at December 31, the Group's consolidated results for 1999 showed a very positive performance in comparison with 1998, confirming its considerable growth in size. At present, in fact, Credito Valtellinese Group includes six banks and three service companies and numbers 200 counter windows with a staff of 2,140 employees.

During the second half of 1999, the Group has been undertaking numerous initiatives, thanks in particular to its web-bank Bancaperta S.p.A., which has been offering a wider range of Internet services. Bancaperta, in fact, launched - first in Italy - the sale on-line of Julius Baer Luxembourg Sicav Euro-denominated stock, bond and cash funds. The company is also implementing Credito Valtellinese Group's new web site, which, along with banking, finance and insurance, includes the e-commerce. The Specialsocio Newsletter also reports Banca dell'Artigianato e dell'Industria of Brescia take-over, Credito Valtellinese's successful debut on the Euromarket with a bond issue the nominal value of which amounts to 250 million Euro and the Certification of Quality for Stelline Servizi Immobiliari S.p.A.