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Milano, 26 April 2005

Luca Cordero di Montezemolo, Chairman of Fiat, and Sergio Marchionne, Chief Executive Officer, have met today in Milan with the representatives of the main lending banks that in 2002 had provided the 3-billion-euro mandatory convertible facility to Fiat.

The banks were represented by the Chief Executive Officers of the companies: Corrado Passera (Banca Intesa), Matteo Arpe (Capitalia), Alfonso Iozzo (SanPaolo IMI) and Alessandro Profumo (Unicredito Italiano).

During the meeting the operating and financial data of the Group was confirmed. Fiat has reiterated its commitment to achieving the objectives stated for 2005, 2006 and 2007.

The conversion of the mandatory convertible facility, due in September 2005, was confirmed. The Banks also reaffirmed their will to support the Group which is focused in achieving the financial objectives set for the next three years.

 

 
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