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INTESA SANPAOLO CONCLUDES PURCHASE PROGRAMME OF OWN ORDINARY SHARES TO SERVE THE SHARE SWAP TRANSACTION FOR ACQUISITION OF CONTROL OF CARIFIRENZE

Torino, Milano, 7 November 2007 – Today, Intesa Sanpaolo concluded its purchase programme of own ordinary shares to serve the share swap for acquisition of control of Carifirenze. The programme had been authorised by shareholders at their meeting held on 2 October 2007 and disclosed in the press release of the same day.

It is expected that, due to the time necessary to obtain approval of acquisition of control of Carifirenze from the Italian Competition Authority and Italian insurer regulator ISVAP (the Bank of Italy has already given its authorisation), the execution of the swap of own ordinary shares purchased on the market with the shares of Carifirenze and the following Mandatory Public Offer on the latter’s total shares not held will presumably take place during the first months of 2008.

Details of purchases made are provided below, pursuant to art. 144 bis of Consob Resolution 11971/99 (“Regolamento Emittenti”, Issuer Regulations).
 
In the last three days, from 5 and 7 November 2007, Intesa Sanpaolo totally purchased 42,788,609 Intesa Sanpaolo ordinary shares (approximately 0.36% of the ordinary share capital), for an overall countervalue of 226,257,994.84 euro through Banca IMI, responsible for the programme execution. From 3 October (the starting date of the programme), to today, 7 November 2007 (the closing date of the programme), Intesa Sanpaolo totally purchased 398,904,617 Intesa Sanpaolo ordinary shares (approximately 3.366% of the ordinary share capital), for a countervalue of 2,158,380,397.58 euro. The total cost of the purchase programme also includes 60,636,030 euro in settlement of the equity swap derivative contract – having as underlying asset the entire number of Intesa Sanpaolo ordinary shares included in the swap transaction, stipulated on 25 July 2007 to minimise the risk of exposure to the market price fluctuations of the own shares to be purchased – and 0.8% as related commissions.

Purchase transactions were carried out in compliance with provisions set forth in articles 2357 and following of the Italian Civil Code and within the limits determined in the shareholders’ resolution. Pursuant to art. 132 of Consolidated Law on Finance (TUF) and art. 144 bis of the “Regolamento Emittenti”, the purchases were carried out on regulated markets according to the operating methods set forth in the regulations providing for the organisation and management of such markets. Moreover, the purchases were carried out in daily volumes not exceeding 25% of the average daily volume of the Intesa Sanpaolo ordinary shares traded in the month preceding the disclosure of the programme to the market (the daily average in September 2007 was 72.3 million shares), as set forth by Regulation EC n. 2273/2003.

Share purchases are detailed in the enclosure and summarised in the table below:

date 

number of ordinary
shares purchased

average purchase
price
(€)

countervalue (€)

5 November 2007

18,079,975

5.2632

95,158,575.49

6 November 2007

18,079,975

5.3157

96,107,463.21

7 November 2007

 6,628,659

5.2789 

34,991,956.15

Total for the last three days

 42,788,609

5.2878

226,257,994.84

Total for the 5th week

72,819,950

5.3942

392,802,534.09

Total for the 4th week

85,497,058

5.3047

453,533,035.22

Total for the 3rd week

75,359,075

5.3755

405,095,371.60

Total for the 2nd week

77,509,950

5.5364

429,128,195.82

Total for the 1st week

44,929,975

5.5990

251,563,266.01

Total for the programme 
3 October 2007 - 7 November 2007

398,904,617

5.4108

2,158,380,397.58

Investor Relations
+39.02.87943180
investor.relations@intesasanpaolo.com 

 Media Relations
+39.02.87963531
stampa@intesasanpaolo.com


www.intesasanpaolo.com

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