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UniCredit selects GE Money in the BPH disposal process

UniCredit is planning to transfer its stake in the Polish Bank BPH after completion of the spin-off of a portion of the Bank BPH business (the bank after the spin-off is referred to as "New BPH"). Following a competitive process, UniCredit has selected GE Money EMEA, part of US group GE, a leading provider of financial and consumer credit services, to enter into exclusive negotiations to complete the sale process. UniCredit would like to complete this process by the end of 2007, subject to agreement between both parties and the receipt of all required regulatory approvals.
UniCredit is confident that negotiations will be successfully concluded prior to the de-merger becoming effective. In line with the provisions of the Agreement concluded on 19 April 2006 between the Ministry of State Treasury of the Republic of Poland and UniCredit concerning integration of its banking activities in Poland, UniCredit plans that completion of the transfer of New BPH shares will take place as soon as possible following registration of the de-merger.

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