Popolare Santa Venera

Annual Meeting unanimously confirms balance sheet as at December 31 2000:
Net profits increase by 25%
Dividends due to the shareholders attain L. 5,000 per share

Acireale (Catania), March 30 2001 - On Friday, March 30 a great number of the more than 4,000 shareholders attended the Extraordinary and Ordinary General Meeting of Banca Popolare Santa Venera S.p.A., unanimously confirmed the balance sheet for 2000 and resolved on a 5,000-lira dividend per share, as well as on all statutory changes, including the conversion of its capital stock into Euro.

The wide range of services and innovative solutions offered to the clientele in its home territory thanks to the new technologies, which the bank adopted in conformity with the Group's standards, allowed to improve the performance of all items of the balance sheet. In fact, direct deposits amounted to L. 1,462 billion, increasing by 7% with respect to 1999 (L. 1,366 billion). Indirect deposits increased by 14.1%, attaining L. 920 billion, compared with L. 806 billion in 1999. The overall deposits amounted to L. 2,382 billion, compared with L. 2,172 billion in 1999 (+9.7%). As far as indirect deposits are concerned, particularly positive were the performances of customers' deposits held for custody and administration (+32.5%) and of insurance deposits (+17.8%). Also investments improved their performance, totalling L. 919 billion, compared with L. 825 billion in 1999 (+11.3%). The impact of net overdue bills on investments was 9.1%, compared with a 9.8% in 1999.

Although there was a cut in extraordinary assets with respect to the previous year (L. 2.7 billion compared with L. 9.6 billion in 1999), gross profits for the year increased by 62.9%, totalling L. 15.7 billion compared with L. 9.6 billion in 1999. After entering taxes on incomes for L. 9.7 billion and provisions for general banking risks (L. 1 billion), net profits for the year amounted to L. 5 billion, with an increase by 25% (L. 4 billion in 1999).

The meeting also resolved on the appointment of the new Executive Board, which is now made of the following directors: Giovanni De Censi, Giovanni Continella, Mario Cotelli, Miro Fiordi, Antonio Leonardi, Carlo Negrini and Antonio Pogliese. Also the Board of Auditors was renewed. Its members are Angelo Garavaglia, Alessandra Foti and Mario Scandura. Giovanni De Censi and Giovanni Continella were appointed Chairman and vice-Chairman of the Executive Board. Angelo Garavaglia was appointed Chairman of the Board of Auditors.