040914_MT

PRESS RELEASE

The Board of Directors of Monte Titoli met today and acknowledged the resignation of the CEO Giovanni Sabatini, who has left the Borsa Italiana Group to join Consob.

The Board has expressed sincere appreciation for his job during the past years wishing him all the best for his new activity.

Following the resignation of Giovanni Sabatini, the existing powers of the CEO have been conferred to the Deputy Chairman, Massimo Capuano and the General Manager, Paolo Cittadini. The Board has entrusted the Deputy Chairman with powers attaining matters of particular strategic relevance for the Company and has strengthen the management powers of the General Manager.

A new member of the Board, Fabrizio Plateroti, has been appointed.

The Boards of Directors of CC&G (Cassa di Compensazione e Garanzia) and BIt Systems have appointed Paolo Cittadini in lieu of Giovanni Sabatini.

Milan, 14th September 2004