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Pirelli C&S: Press Release new CEOs

Milan, 28 December 2000 Pirelli SpA announced today that, in
consequence of the strong growth of its Cables and Systems Sector,
also as a result of recent international acquisitions, and with the
objective of enhancing the Sector’s strategic focus and managerial
effectiveness, the decision has been made to separate Energy
activities from Telecom activities and to entrust them to two newly
appointed CEOs. Energy Cables and Systems activities are to be
entrusted to Oscar Cristianci (an Argentinian national), formerly
Deputy General Manager Tyre Sector and CEO South American
activities; Telecom Cables and Systems activities are to be
entrusted to Kevin Riddett (a US national), formerly CEO of Pirelli
Cables and Systems North America. Both will report directly to the
Chairman and Chief Executive Officer of Pirelli SpA, Marco
Tronchetti Provera. Giuseppe Morchio, to whom the Company is
thankful for the significant contribution given to the Sector, is
leaving the Group to undertake entrepreneurial activities of his
own.

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