Statements regarding the holding in BNL: press release 4

Corporate
Tuesday, May 31, 2005

With reference to the news published today in the press, Unipol Assicurazioni hereby specifies that:
(i) It disposes - within the authorization obtained on 27 May 2005 – of shares equalling 9.67% of the ordinary share capital of Banca Nazionale del Lavoro S.p.A. (‘BNL’), of which 6.46% already acquired and 3.21% through option agreements;
(ii) It has not submitted to the relevant Supervisory Authorities any request to obtain the authorization to increase the current holding in BNL over the threshold of 10%.