Results of the offer in option of 82,703,400 shares of Capitalia S.p.A. pursuant to Sect. 2437-quarter of the Italian Civil Code

Ad-hoc-Meldung / Ad hoc Release
nach § 15 WpHG / pursuant to § 15 of the German Securities Trading Act

Results of the offer in option of 82,703,400 shares of Capitalia S.p.A. pursuant to Sect. 2437-quarter of the Italian Civil Code



As of October 1, 2007 the merger of Capitalia S.p.A. ("Capitalia") into UniCredito Italiano S.p.A. ("UniCredit") has become effective and therefore all the conditions precedent for the effectiveness of the withdrawal rights exercised have been satisfied. As a result of the above, as of such date UniCredit ordinary shares have been allocated on the basis of the following exchange ratio: 1.12 UniCredit ordinary shares for each Capitalia ordinary share.

All above stated, it is announced that the offer period for the offer in option reserved to the Capitalia's shareholders that did not exercised the withdrawal right on n. 82,703,400 Capitalia ordinary shares, for which the withdrawal right was exercised (the "Shares" and each of them the "Share"), closed on October 3, 2007.

It is recalled that the Shares have been offered based on a ratio of n. 1 Share for 31 Capitalia ordinary shares held at a price of € 7.015 per Share, determined in accordance with the provisions of Art.. 2437-ter, par. 3, of the Italian Civil Code.

Under the offer in option, n. 7,851,704 Shares have been allocated, either following exercise of the relevant option rights or following exercise of the pre-emptive rights granted pursuant to Art.. 2437-quarter, par. 3, of the Italian Civil Code.

The consideration for the Shares for which the option rights and the pre-emptive rights have been exercised will be allocated among the shareholders who have exercised their withdrawal right in proportion to the number of Shares for which the withdrawal right has been exercised by each of them, with value date as at October 15, 2007 through the intermediary who received the application form for the offer in option.

The shareholders who have purchased n. 7,851,704 Shares will receive on the same date newly issued UniCredit ordinary shares on the basis of the merger exchange ratio.

The remaining n. 74,851,696 Shares, equal to n. 83,833,899 UniCredit shares on the basis of the merger exchange ratio, shall be liquidated pursuant to Art. 2437-quarter, par. 4 and 5, of the Italian Civil Code (that is by means of an offer on the market or through purchase by UniCredit using distributable reserves, even departing from the provisions of par. 3 of Art.. 2357 of the Italian Civil Code)

Milan, October 11, 2007
UniCredito Italiano S.p.A.
Via San Protaso 1/3
20121 Milano
Italien

Securities listed on German regulated markets:
ISIN IT0000064854
WKN: 850832
Listed: Official Market (Amtlicher Markt), Frankfurt Stock Exchange (General Standard)


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