Press release

IFIL - Notification of objections on the part of ConsobFebruary 22, 2006

Yesterday, Consob formally notified IFIL S.p.A. of its objections under art. 187-
septies of TUF (Unified Law on Financial Intermediation) in relation to the content of
the press release dated August 24, 2005.
Analogous objections were also notified to Giovanni Agnelli e C. S.a.p.az. regarding
the content of its press release on the same date.
Furthermore, Gianluigi Gabetti, Franzo Grande Stevens and Virgilio Marrone
received the notification of the objection regarding the violation of art. 187-ter of
TUF, with Consob assuming that each of those individuals participated in the
decisional process relating to the above press releases.
Exor and its legal representatives, instead, received notification of the violation of the
obligations of communication as regards significant investments under art. 120 of
TUF beginning from Consob’s notice from August 30, 2005.
It is the intention of the parties which received the notifications from Consob to lodge
their objections in accordance with the law and take advantage of every other
opportunity of defense.

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