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Ad-hoc-Meldung/ Ad hoc Release nach § 15 WpHG/pursuant to § 15 of the German Securities Trading Act - UniCredit: Launch of mandatory tender offer on Bank BPH shares

Ad-hoc-Meldung / Ad hoc Release
nach § 15 WpHG / pursuant to § 15 of the German Securities Trading Act
UniCredit announces that it has today notified the Polish Securities and Exchange Commission, for its review, as well as the Warsaw Stock Exchange and the Polish Press Agency, of the intention to launch the mandatory tender offer for the shares of Bank BPH S.A. ("BPH") that UniCredit does not already indirectly own - through Bank Austria Creditanstalt AG ("Bank Austria"), in turn controlled by Bayerische Hypo- und Vereinsbank AG - representing 28.97% of BPH's share capital.
The price offered, in cash, by UniCredit for each BPH share is PLN 702.11 (equal to the 3-month arithmetical average of average daily volume weighted prices of BPH shares) and complies with the minimum price requirements set by applicable Polish law, while the last closing BPH share price as of January 19, 2006 was PLN 790. On the basis of the price offered and the current exchange rate, the maximum disbursement for UniCredit is expected to be ca. €1,550 million.
The acceptance period is expected to commence on January 31, 2006 and to remain open for 30 calendar days, until March 1, 2006.
UniCredit also informs that it is in the process of finalizing the application to obtain the authorization of the Polish Banking Supervision Commission ("BSC") to exercise the voting rights at the shareholders' meeting of BPH in respect of over 75% of votes. Pending such approval, the exercise of voting rights with respect to the 71.03% of BPH's share capital owned by Bank Austria has been temporarily suspended.


Enquiries:

Media Relations:
Tel. +39 02 88628236; e-mail: Uci.Ufficiostampa@unicredit.it
Investor Relations:
Tel. + 39 02 88628715; e-mail: UCI-InvestorRelations@unicredit.it

UniCredito Italiano S.p.A.
Via San Protaso 1/3
20121 Milano
Italien

Securities listed on German regulated markets:
ISIN IT0000064854
WKN: 850832
Listed: Official Market (Amtlicher Markt), Frankfurt Stock Exchange (General Standard)