PRESS RELEASE

As of April 18th, 2005, seven new stock futures will be traded
on the Derivatives Market of Borsa Italiana

On Monday April the 18th 2005, Borsa Italiana's IDEM market will launch seven new IDEM stock futures bringing the total number of stock futures traded on the IDEM market up to 34. The underlying shares for the new stock futures contracts are: Aem, Alleanza Assicurazioni, Autogrill, Bulgari, Gruppo Editoriale L'Espresso, Finmeccanica and Luxottica Group. Since the start of the new year, the IDEM market has launched a total of 12 new stock futures contracts.

The growing success of the IDEM stock futures is confirmed by its volumes: during the first quarter of 2005, the daily standard contracts have averaged 3,637, with an increase of 79% compared to the same period of 2004, while the open interest (the number of open positions) at end March was above 105,000 contracts (+ 57% compared to March 2005).

Today, the IDEM stock futures contracts registered a new daily record a total of 172,709 standard contracts (offsetting the precedent record set on April, 11th, of 109,938 traded contracts).

In addition to IDEM stock futures, on Borsa Italiana's IDEM market, trading of futures, minifutures, S&P/MIB index option and futures and stock options is possible.

It has been a record breaking first three months of 2005, with the IDEM market recording a daily average of 80,868 standard contracts, with an increase of 11% compared to the first three months of 2004. Open interest in March showed a growth rate of 27% compared to the same period of 2004. The historical record of daily trading of the futures S&P/MIB contract has also been established, equal to 57,183 contracts.

Milano, April 13th 2005