Milan, January 11 2000 - Bancaperta S.p.A., Credito Valtellinese Group's web-bank, will start, first in Italy, the sale of Julius Baer Sicav Luxembourg stock, bond and cash funds via the Internet.

With the name of Banc@perta, the virtual bank Bancaperta S.p.A. has been providing, since 1997, home banking services, e-commerce facilities and general information on line to Credito Valtellinese's clientele.

The sale of Julius Baer investment funds via the Internet is a very interesting news for the investors, as the virtual banking is a convenient and functional channel for a customized saving management. Along with the selling activity, Bancaperta also provides accurate financial information on line.

Applications available on Bancaperta's web site (www.bancaperta.it) provide exhaustive information and documents enabling the clientele to carry out duties prescribed by the regulations in force and to choose from a wide range of investment opportunities. Bancaperta S.p.A. has been offering on line banking services for years. Therefore, the company can boast a great experience in this field. Bancaperta could develop a very innovative interface, which allows users to explore its web site and to purchase funds through an easy and direct menu.

Moreover, Bancaperta S.p.A is to implement Credito Valtellinese Group's new home page, which, in addition to the traditional banking, financial and insurance services offered by the member banks, includes e-commerce facilities that will enable enterprises to start selling activities via the Internet.

As from February 2000, Bancaperta S.p.A. will start its trading-on-line with a special current account, called CONTO @PERTO, the opening and management of which will be very innovative.

Said Giovanni De Censi, Credito Valtellinese Managing Director: "Credito Valtellinese Group was among the pioneers of the Internet, since we very soon began to use the virtual channel in order to increase and improve the range of services offered to our customers. The sale of investment funds via the Internet, which will boost Bancaperta's activity, is meant to improve the quality of our relations with the clientele, offering them an easy access to our innovative services and strengthening our presence within the strategic sector of the e-commerce".

Renato Bartesaghi, Bancaperta Chairman, added: "Credito Valtellinese Group intends to adopt a global approach strategy. The Internet, in fact, is a reality that globally affects all the activities of the member banks. Through Bancaperta S.p.A., our web-bank, which was born as a virtual bank, developed along with the development of the Internet in Italy and became one of the most innovative web operators within the European banking sector, we intend to further develop our web-banking activities, allowing our clientele to benefit from such innovations."

In addition to the web banking, Bancaperta S.p.A. is entrusted with the Group Finance, corporate finance and bank-insurance activities. Today, more than 15,000 customers, both private customers and enterprises, already benefit from Credito Valtellinese banking Group's on line banking facilities, which are managed by Bancaperta S.p.A.

Bancaperta S.p.A. is the company entrusted with Credito Valtellinese Group's Internet banking, which has been offering a wide range of services on web to the customers. Thanks to the services available, customers can, in short, operate on their current accounts, give instructions for the purchase of securities, choosing also from the "showcase of securities" - a selection of securities provided by your bank -, operate on their revolving financing with the possibility of asking for it on line, collect Ri.Ba., R.I.D. and M.A.V. and take out insurance policies.

Julius Baer Group of Zurich, a leading bank in Switzerland as regards the asset management sector, holds 10% of Bancaperta's stock capital. Julius Baer can offer a wide range of investment funds, including more than 50 funds, and is the fourth best fund vendor in Switzerland.

Thomas Baer, Julius Baer Group Chairman, attended the press conference that Credito Valtellinese Group called in Milan. Says Baer: "I always firmly believed that the Internet is a very important and innovative channel, allowing the bank to offer its services to an increasing clientele. Our co-operation with Credito Valtellinese Group, in particular with Bancaperta S.p.A., allows, from today, to increase the influence of the Baer Group on the strategic Italian market, thanks to a professional sales partner, which can manage the innovation with complete dedication."