Business results of the subsidiary Banca Mediolanum

Net Inflows: June 2012 € +255 mn
First half year 2012 € +1,761 mn
Mortgages granted, first half year +127%

Mediolanum S.p.A. announces business results of the subsidiary Banca Mediolanum for the month of June 2012.

Net inflows into Managed Assets deserve mention, € +275 mn, the best monthly result in the last two years. Adding the positive inflows of the previous months (€ +197 mn in just the month of May) brings the total for the half year to € +869 mn.

Corresponding data calculated according to the Assogestioni methodology (for the category "Fondi Aperti" - "Mutual Funds"): € +244 mn for June, and € +704 mn since the beginning of the year.

Data in € mn	June 2012	Jan–June 2012	Jan–June 2011
Life premiums *	(24)	(311)	(672)
Asset management products	275	869	870
Net Inflows into Managed Assets	251	558	198
+ 3rd party Structured bonds & certificates	37	105	94
NI Managed Assets + Structured securities	288	663	292
Net Inflows into Administered Assets	247	1,519	1,002
+ "Freedom" Life Policies (change in assets)*	(280)	(422)	(366)
NI Administered Assets incl. "Freedom" accounts	(33)	1,097	636
TOTAL NET INFLOWS, BANCA MEDIOLANUM	255	1,761	928

* Preliminary data subject to change.

In terms of lending, it should be noted that mortgages granted amounted to € 77 mn for the month and € 398 mn for the first half year, an increase of 127% versus the first half year of 2011, in complete contrast with the market.

Basiglio - Milano 3 City, July 10, 2012

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

The Officer responsible for preparing Mediolanum S.p.A accounting documents, Luigi Del Fabbro, declares that, in compliance with the requirements of the second paragraph of section 154 bis of the Consolidated Finance Act, the financial information contained herein reflects the accounting entries, records and books.

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