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08/30/2002

Press Release



Mediolanum S.p.A. announces that it has completed the inter-company operation passing control of the Mediolanum Group asset management and financial service companies from Mediolanum S.p.A. to Banca Mediolanum S.p.A.
The operation makes these companies part of the Mediolanum Banking Group, allowing strategic, management and operational control by Banca Mediolanum.
The following are the companies transferred to Banca Mediolanum S.p.A:

Mediolanum Asset Management Ltd. (51%)
Mediolanum International Funds Ltd. (51%)
Mediolanum Gestione Fondi SGR p.A. (51%)
Mediolanum International S.A. (99,8%)

It should be noted that this transfer does not substantially affect the asset and economic situation of the Mediolanum Group. All companies involved were wholly owned, directly or indirectly by the holding company Mediolanum S.p.A., prior to this operation.

The transfer is carried out at book value and does not imply surplus value attributable to the holdings transferred.

Milan, August 30, 2002