Press release

IFI - IFI stockholders' meeting approves 2005 financial statementsMay 25, 2006

The annual general meeting of the stockholders of IFI – Istituto Finanziario Industriale S.p.A., which met today in Turin under the chairmanship of Gianluigi Gabetti, approved the financial statements for the year ended December 31, 2005, which show a profit of € 38.5 million (€ 37.7 million in 2004). The stockholders’ meeting voted to appropriate the entire profit to reserves and not distribute dividends.

Furthermore, the stockholders’ meeting, after renewing the authorization for the purchase and disposal of treasury stock, appointed Deloitte & Touche S.p.A. for the audit of the financial statements for the years from 2006 to 2011.

After expressing its appreciation for the work conducted by the board of directors and the board of statutory auditors, having reached the expiry of their three-year term of office, the stockholders’ meeting then appointed the directors for the years from 2006 to 2008: Carlo Acutis, Andrea Agnelli, Tiberto Brandolini d’Adda, Oddone Camerana, John Elkann, Luca Ferrero Ventimiglia, Gianluigi Gabetti, Franzo Grande Stevens, Andrea Nasi, Francesco Marini Clarelli, Virgilio Marrone, Lupo Rattazzi and Pio Teodorani-Fabbri. The statutory auditors were also appointed for the same term of office: Gianluca Ferrero (Chairman),Giorgio Giorgi and Lionello Jona Celesia.

The board of directors, which met afterwards, confirmed Gianluigi Gabetti as Chairman and Pio Teodorani-Fabbri as Vice Chairman and appointed Virgilio Marrone as Chief Executive Officer.

In attachment, new board members and auditor’s resumé

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