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Milano, 22 April 2004

The bond issue totals 1 billion euro, double the originally-forecasted amount


Today Banca Intesa SpA launched a 1 billion euro bond issue on the international markets as part of its “Medium Term Notes” programme.

The issue marks Banca Intesa’s return to the international bond market. The operation has been greatly appreciated by the market, with requests which double the originally-forecasted amount which totalled 500 million euro.

The structure is the most tested: Senior, Floating rate, Euro Medium Term Notes with a seven-year maturity and a quarterly coupon of 3-month Euribor plus 20 basis points.

The issue price has been set at 99.87%.

The payment is due on 10th May.

The issue is offered to institutional investors and to international financial intermediaries and will be listed on the Luxemburg Stock Exchange and on the Over-the-counter market.

ABN Amro, Banca Caboto and Morgan Stanley are lead managers for the placement of the issue.

Considering the offer price, the issue has been distributed in Europe with a total spread of 3-month Euribor plus 22 basis points.

Geographic breakdown of placed bonds is the following: UK/Ireland - 28%; Italy - approximately 25%; Austria/Germany - 19%; Scandinavia/Holland - 12%.

The seven-year bond enables Banca Intesa to significantly extend its “benchmark” yield curve which had, to date, been made up of the 2.5-year issue (1,800 million euro) and the approximately 4-year issue (1,000 million euro).

Banca Intesa therefore continues its “Benchmarking” policy aimed at offering international investors investment opportunities over the whole range of maturities via the issue of extremely-liquid, high-standing bonds.

The seven-year issue follows from and continues the success of the five-year benchmark bond in sterling, issued by Banca Intesa on the international markets in the last few weeks, for total amount of 400 million of GBP.

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