press release

Aperta Sgr operative since 1 October

Milan, 19 October 2005 - Aperta SGR is the name of the new asset management company in the Credito Valtellinese Group.

The new company, whose operativity is ensured by the transfer of the investment branch of Bancaperta, started business on 1 October 2005, with the transfer of all asset management activities carried out by the Credito Valtellinese Group on behalf of third parties;

With the launch of Aperta Sgr, the Creval Group will be able to rely on the consolidated experience it has accumulated in over 20 years of asset management, to take on a leading role in the investment sector.

The assets currently managed by the company amounted to approximately €4.2 billion euros.
"The goal of this new company is to combine the tradition and history of an Italian banking group, which has local roots and a community approach, with the innovation and expertise of an increasingly complex and rapidly developing market," stated Daniele Beltrame, General Director of Aperta Sgr. "We are ready to take on this new challenge, offering even the most demanding customers a range of high-profile services in the sector of investment funds and asset management for private and institutional clients. In keeping with the strategy of our parent company, Credito Valtellinese, our yield targets are set for the medium and long term, primarily aiming at preserving the value of our customers' assets. This is why Aperta Sgr will not be offering speculation products."

The Board of Directors of Aperta Sgr met today to appoint Norberto Gualteroni as Vice Chairman.


For more information, please contact:

Raffaella Cristini
Institutional Relations - Bancaperta
Telephone: +39 02/8063 7596
Email: cristini.raffaella@creval.it

Raffaella Premoli
Press Office
Telephone: +39 02/8063 7403
Email: premoli.raffaella@creval.it

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