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UniCredit: statement on the shareholding in Fiat

With regard to its shareholding in FIAT, which has been fully hedged since long time as already stated in the press release as of Nov 9th 2007, UniCredit announces that it has modified the settlement instructions of the hedging transactions from "cash settlement" to "physical delivery".
As soon as the conditions of the contracts will be satisfied, UniCredit will exit from FIAT's share capital.
The settlement will take place out of the market's trades by the end of this year.

Milan, 7 December 2007


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