9M 2005 Results

Group Net Income: 180 million euro, +41%
Group Assets under Administration: 29.6 billion euro, +17%
Group Gross Inflows: 4,432 million euro, +13%

The Board of Directors of Mediolanum S.p.A. met today in Basiglio (MI) and approved the Consolidated Financial Statements for the first nine months of 2005.

With reference to the GROUP RESULTS:

	Group Net Profit was at 180 million euro, a growth of 41% compared to the results for the same period last year.
	Group Assets under Administration, grew 17% with respect to September 30, 2004 totalling 29,556 million euro, an increase of 15% with respect to the beginning of the year.
	Gross Inflows totalled 4,432 million euro, +13% with respect to the same period last year.

With reference to the DOMESTIC MARKET, (Net Income, Assets and Gross Inflows include Banca Esperia for the 48.5% share pertaining to the Group), the following results were achieved:

	Net Profit was at 184 million euro, a growth of 37% with respect to the results for the same period last year.
	Assets under Administration grew 18% with respect to September 30, 2004, totalling 26,611 million euro, 14% with respect to the beginning of the year.
	Gross Inflows came in at 4,058 million euro, + 14% with respect to the same period last year.
	Gross Premiums Written in total came to 1,829 million euro, an increase of 11% with respect to the same period last year. In particular, Life New Business grew 10% (1,178 million euro), with Recurring Premiums contributing 146 million euro, +16%, and Single Premiums adding 1,033 million euro, +9%.
	Asset Management registered Gross Inflows of 1,217 million euro, a growth of 10% compared to the same period last year.
	Net Inflows came in at 1,042 million euro, +4% with respect to the same period last year. Net Inflows into Managed Savings, were positive at 815 million euro and were positive each month. Net Inflows into Administered Savings were positive at 227 million euro.
	As at September 30, 2005, the Sales Network of Banca Mediolanum totalled 4,979 financial advisors (of whom 3,999 licensed advisors), +2% with respect to September 30, 2004, and a growth of 3% since the beginning of the year.
	There were a total of 790,500 Primary Account Holders as at September 30, 2005 (782,200 at September 30, 2004). There were 342,900 bank customers at September 30, 2005, an increase of 12% with respect to September 30, 2004.
	There were a total of 373,140 bank accounts as at September 30, 2005, an increase of 35,140 with respect to September 30, 2004.
	Banca Esperia registered a net profit of 10.6 million euro (5.1 million euro for Mediolanum's share), triple that of last year's result. Assets under Administration reached 5,505 million euro (2,670 million euro for Mediolanum's share), an increase of 32% with respect to September 30, 2004, and of 14% compared to the beginning of the year.

With reference to the FOREIGN MARKETS:

	Economic results improved by 43% with respect to the same period last year passing from -6.0 million euro to -3.4 million euro.
	Assets under Administration grew by 11% with respect to September 30, 2004, totalling 2,945 million euro, and by 20% compared to the beginning of the year.

STATEMENT REGARDING YEAR-END RESULTS
In light of the results for the first nine months of 2005, it is assumed that the results for the year in course will be positive, with a significant improvement with respect to last year.

A presentation in English with the data contained in this document will be available at the Borsa Italiana offices (Italian Stock Exchange).

Attachments:

Balance Sheet as at September 30 2005 Reclassified Income Statement 9M 2005 Segment Report

Basiglio, Milano 3 City, November 9, 2005

Contacts: Media Relations Roberto Scippa Tel +39 02 9049 2902 Fax +39 02 9049 2345 e-mail: gmmedia@mediolanum.it

Investor Relations Alessandra Lanzone Tel +39 02 9049 2039 e-mail: investor.relations@mediolanum.it

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