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Extraordinary Shareholders' meeting for reverse stock split of shares and separation of Pirelli Re called for 14/15 July

Milan, 10 June 2010 – Pirelli & C. SpA announces that the dates for the extraordinary shareholders’ meeting have been determined. The extraordinary shareholders’ meeting will be held in Milan, Viale Sarca no. 214, at 10 a.m. on Wednesday 14 July, 2010 on first call and, if necessary, on second call on Thursday 15 July, 2010, same place and time.

The extraordinary shareholders’ meeting shall discuss and resolve upon the proposed cancellation of the nominal value of the ordinary and saving shares of the Company and on the reverse stock split grouping the shares in a ratio of 1 new ordinary share or 1 new saving share for every 11 shares in the same category held, as well as on the subsequent amendments to the By-laws.

The extraordinary shareholders’ meeting shall also resolve upon the proposed separation of Pirelli Re from the Pirelli group, to be carried out through proportional assignment to ordinary and saving shareholders of Pirelli & C. of no. 487,231,561 ordinary shares of Pirelli Re held by the Company; in order to carry out such assignment, a reduction of the share capital is expected for an amount corresponding to the value of the stake held in Pirelli Re being assigned to the shareholders. The proposed reduction of the share capital will be preceded by the preparatory amendments to the By-laws.

The reports of the Board of Directors concerning all the points of the agenda and the informative document describing the reduction of the share capital will be made available to the public at the registered office of the Company and Borsa Italiana SpA in compliance within the terms respectively provided by the laws.

The documentation related to the shareholders’ meeting will be also made available on the Company’s website www.pirelli.com. The notice of call of the shareholders’ meeting will be made available on the Company’s website from 12 June 2010.

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