UniCredit signs an agreement with GE Money

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


UniCredit signs an agreement with GE Money for the sale of a majority shareholding in New BPH

Today, UniCredit and GE Capital International Financing Corporation, on behalf of GE Money, the global consumer lending unit of General Electric, have signed an agreement for the sale of a majority shareholding in Bank BPH, which will be finalized following the completion of the spin-off of a portion of Bank BPH's business into Bank Pekao (referred hereafter as "New BPH").
Under the terms of the agreement, UniCredit will sell a shareholding close to 66%, out of a total of 71.03% of New BPH held by UniCredit. The transaction envisages also the future sale by CABET Holding, a wholly owned subsidiary of Bank Austria Creditanstalt, to GE Money of the 49.9% shareholding in BPH TFI (the asset management unit of New BPH) that Bank BPH does not already own.
The aggregate purchase price is €625.5 million in cash.
New BPH is a universal bank with a network of 200 branches. On a pro-forma basis, as of 31 December 2006, New BPH had total assets of €2.2 billion, net loans of €1.4 billion, deposits of €1.2 billion and shareholders' equity of €0.4 billion. As of the same date, BPH TFI had total assets under management of €1.8 billion.
The spin-off of a portion of the business of Bank BPH into Bank Pekao has been already approved by the shareholders' meetings of both banks and is subject to the consent of the Polish Banking Supervision Commission.
The sale of UniCredit's shareholding in New BPH is in line with the provisions of the Agreement concluded on 19 April 2006 between the Ministry of State Treasury of the Republic of Poland and UniCredit and represents a further step forward in the integration of the UniCredit Group banking activities in Poland.
Completion of the transaction, expected by year end 2007 following the registration of the spin-off, is subject to the satisfaction of a number of conditions precedent including, inter alia, receipt of all necessary regulatory authorizations and consents from the competent regulatory authorities and other conditions customary for a transaction of this nature.
Merrill Lynch International and UniCredit Markets & Investment Banking acted as financial advisors to UniCredit, with Dewey Ballantine and Studio Legale Grimaldi e Associati acting as legal advisors.


Milan, 3 August 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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