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Ministry of Economy and FinanceCSSF: ITALIAN FINANCIAL SYSTEM CONFIRMED FUNDAMENTALLY SOUND

Press Release N° 186 of 12/04/2008

The Financial Stability Safeguard Committee' met today to consider the international and domestic financial situation.

The meeting, chaired by Minister of the Economy and Finance Giulio Tremonti, was attended by Banca d'Italia Director General Fabrizio Saccomanni, Treasury Director General Vittorio Grilli, the Chairman of insurance industry supervisory body ISVAP Giancarlo Giannini and the Chairman of stock market regulator CONSOB Lamberto Cardia.

The Committee examined recent trends in markets and the supervisory and regulatory authorities, in that order, reported on the fundamentally sound Italian banking and insurance systems and on its capacity to counter the current financial crisis.

In addition, the Committee considered the programme for the implementation of decree laws recently adopted by Government. Specifically, on matters concerning subscription to capital instruments, the Committee will follow the EU's coordinated policies in the process of being set out.

The Committee has confirmed the schedule of periodical meetings for updates.

Rome 12/04/2008

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