Banca del Fermano - Credito Cooperativo s.c.a.r.l.

Pursuant to Article 99.a) of Legislative Decree 58/1998, Consob has ordered the precautionary suspension for 90 days of the public offering of shares of Banca del Fermano - Credito Cooperativo s.c.a.r.l., a new bank currently being established (Resolution 14640 of 8 July 2004).

The order is based on the offering of shares of Banca del Fermano by a committee promoting the offer via the internet site www.comitatopromotorebdf.it, and by means of both interactive procedures and promotional or contractual messages.

The information gathered suggested that there was a well-founded suspicion that the activity of the promoting committee amounted to a public offering for the subscription of financial products involving the solicitation of investors as defined in Article 1.1t) of Legislative Decree 58/1998. Since Consob has neither been notified of such a public offering nor received a copy of the prospectus, as required by Article 94.1 of the same decree, there are grounds for believing that the activity violates statutory and regulatory provisions governing the solicitation of investors.

(In Consob Informa n. 29/2004 - 19 July 2004)