Procedures for Related Party Transactions

In accordance with Consob Regulation no. 17221/2010 and having obtained the favourable opinion of all the members of the Audit, Risk and Corporate Governance Committee (entirely made up of independent directors), the Board of Directors has unanimously approved on 3 november 2010 the "Procedure for related party transactions" and has entrusted the Audit, Risk and Corporate Governance Committee with the task of also serving "Committee for related party transactions" with the exception of remuneration issues entrusted to the Remuneration Committee.

 Annual Financial Report: Rules of Conduct for Effecting Transactions with Related Parties