Milano, 30 September 2005

Following approval of relevant regulatory authorities, Banca Intesa has finalised today the acquisition of a 75% stake minus one share in KMB for a consideration of USD 90 million.


Banca Intesa has also a put/call option exercisable from 2010 signed with EBRD (the European Bank for Reconstruction and Development) one of the founding shareholders of KMB which will keep a 25% stake plus one share in the bank.


As at 31st December 2004, KMB had RRB 9.28 billion of assets (around USD 334 million), RRB 6.71 billion of customer loans (around USD 242 million) and RRB 897 million of shareholders’ equity (around USD 32 million). For the twelve months ended 31st December 2004, its net income amounted to RRB 102 million (around USD 4 million). KMB has over 50 branches and sub-branches in all the important cities of the Russian Federation and more then 35,000 clients.


KMB, which will be renamed Intesa KMB, is a leading bank in the Russian Federation in lending and leasing to small enterprises, a business which Banca Intesa intends to further strengthen while developing services to individuals.


Banca Intesa is already present in the Russian Federation with its Moscow Representative Office and ZAO Banca Intesa, the only Italian bank with an operating licence in Russia which was set up at the end of 2003 to assist Italian enterprises present in the area and all those interested in operating in this important market.


Banca Intesa thus moves further into the fulfilment of its strategy of growth in Central and Eastern Europe where the Group is already operational with Croatia’s second largest bank Privredna Banka Zagreb (PBZ), Slovakia’s second largest bank Vseobecna Uverova Banka (VUB), Serbia and Montenegro’s second largest bank Delta Banka and Hungary’s fourth largest bank Central-European International Bank (CIB), while its acquisition of UPI Banka in Bosnia and Herzegovina is under way. The Group is also present in the Czech Republic through a Vub branch, in Slovenia through its Italian subsidiary Banca Popolare FriulAdria’s operations and in Poland with its Warsaw Representative Office.

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