During course of the board of directors meeting held today, chaired by Gabriele Galateri di Genola, Deloitte presented the key-findings of an internal review carried out further to the occurrence of the legal events affecting the Company in recent years.
Based on the information currently available and the legal advice of counsels Franco Bonelli and Bruno Cova, the Board of Directors would not be submitting, to the forthcoming Shareholders Meeting agenda, the proposal to commence legal action against the directors in office at the time of the events reviewed. The Board Member Luigi Zingales has expressed his complete disagreement.
The Board of Directors has also appointed director Aldo Minucci as Member of the Appointment and Remuneration Committee, to take the place of professor Berardino Libonati, who has recently passed away.
Milan, 16 December 2010