Milano, 22 May 2002

Regarding some recent press news IntesaBci informs that no events concerning its presence in Argentina have occurred and, in particular, IntesaBci has not planned any injection of funds into Banco Sudameris Argentina, controlled by IntesaBci’s subsidiary Banque Sudameris SA (Paris).


IntesaBci continues to monitor in close cooperation with the Argentinian Central Bank the developments of the Argentinian liquidity crises which also affects its subsidiary in the country.


Any decision on the nature of the support to the Argentinian subsidiary is in any case subordinated to the definition by the local Authorities of a restructuring plan of the Argentinian banking and financial system.