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Milano, 07 October 2002

JOINT PRESS RELEASE
INTESABCI, DEUTSCHE BANK,

BANCA POPOLARE COMMERCIO E INDUSTRIA


 

IntesaBci, Deutsche Bank and Banca Popolare Commercio e Industria reached a financial agreement for the sale of the bare ownership of the 24.92% stake of Banca Carime still held by IntesaBci to Deutsche Bank and the drawing up by Deutsche Bank and Banca Popolare Commercio e Industria of a call option (exercisable by 2006) and a put option (exercisable in 2006) concerning this stake on conditions equivalent to the current ones.

 

The sale, for a consideration of approximately 400 million euro, generates a capital gain of approximately 220 million euro on IntesaBci’s consolidated statement of income.

 

The operation doesn’t change Banca Popolare Commercio e Industria’s commitments and reflects positively on Banca Popolare Commercio e Industria’s statement of income from now up to 2006 for a present value of approximately 15 million euro.

 

The closing of the operation is subject to the authorisation of the competent authorities.

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