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UniCredit sells a stake in Mediobanca

UniCredit has reached an agreement with Benetton, Financière du Perguet, Fininvest, Groupama Group, Mediolanum, Sal Oppenheim, Santusa Holding and Barclays Bank Plc for the divestment of its 9.37% stake in Mediobanca Banca di Credito Finanziario S.p.A. Mediobanca's Shareholders' Agreement voted in favor of the transaction.
After the disposal UniCredit will still hold a shareholding of 8.67% of Mediobanca.

Regarding the stake divestment of 2% of Mediobanca's share capital, agreed with Barclays Bank Plc, UniCredit signed with the same counterpart an equity swap agreement with maturity of up to 6 months on an equivalent number of shares. This agreement allows UniCredit on one hand to keep exposure to the Mediobanca share performance for the same period; while, on the other hand, the cash settlement clause prevents the Company from buying back the dismissed shares.

The completion of the sale will take place on 17 December 2007.

The total consideration paid for the sale of the stake is equal to ca. €1,217 million (€15.85 per share) generating a net consolidated capital gain of about €549 million.

The divestment of the stake is part of the undertakings taken by UniCredit towards the Italian Antitrust Authority according to the Decision n. 17283 dated 18 September 2007 for the clearance of the merger by incorporation of Capitalia into UniCredit.

Milan, 14 December 2007


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