INTESA SANPAOLO SIGNS AN AGREEMENT FOR THE SALE OF ITS 15.7% STAKE IN BANCO DEL DESARROLLO TO SCOTIABANK

Torino, Milano, 31st August 2007 – Today, in the framework of a transaction aimed at the acquisition of 100% of  Banco del Desarrollo’s share capital by Scotiabank, Intesa Sanpaolo  signed an agreement with Scotiabank relating to the sale of its 15.7% stake in Banco del Desarrollo’s share capital for a consideration of approximately 120 million euro, with a capital gain of approximately 60 million euro in its consolidated income statement.

The finalisation of the transaction, which is subject to due diligence and the necessary authorisations, is expected in November 2007.

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