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Milano, 25 January 2006

Today, Banca Intesa has launched on the international markets a 1,500 million euro Subordinated Lower Tier II bond issue under its Medium Term Notes Programme.

 It is a ten-year, callable after 5 years, floating rate Euro Medium Term Notes issue with a quarterly coupon of three-month Euribor plus 25 basis points. Such spread will step up by 60 basis points starting from 8th February 2011 if the early redemption option is not exercised by the Issuer.

 The re-offer price is 99.812%.

 Considering that it was re-offered below par, total discount margin for the investor, calculated at the early redemption date, is three-month Euribor plus 29 basis points.

 Settlement is due on or about 8th February 2006.

 The bond is not offered to the Italian retail market; it is distributed to international professional investors and financial institutions. It will be listed on the Luxembourg Stock Exchange and, as usual, traded in the Over-the-Counter.

 After four years, Banca Intesa returns on the subordinated market with a new Lower Tier II benchmark that is the biggest ever issued by a single A rated bank.

 This transaction will contribute to restoring the Lower Tier II capital of the Issuer by offsetting recent reimbursements and periodic regulatory amortisation.

 Banca Caboto, Calyon and Barclays act as joint lead managers for the placement of this bond.

 The ratings assigned to Banca Intesa’s senior long-term debt are: A1 by Moody’s, A+ by Standard & Poor’s and A+ by Fitch.

Investor Relations
+39.02.87943180
investorelations@bancaintesa.it

Media Relations
+39.02.87963531

stampa@bancaintesa.it


www.bancaintesa.it

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