SIT - Società Impianti Turistici s.p.a.

Pursuant to Article 99.1a) of Legislative Decree 58/1998, Consob has ordered the precautionary suspension for 90 days of the public offering of shares and bonds of SIT - Società Impianti Turistici s.p.a. (Resolution 14547 of 4 May 2004).

The order follows the offer made by the company to invest in its shares and bonds through the distribution of a brochure entitled "Il Grande Sogno si sta realizzando. Partecipa anche tu" containing a detailed description of the operation. The brochure included a form for the subscription of shares and/or bonds and the rules of the bond loan.

All the information gathered indicated that there was a well-founded suspicion that the operation being carried out by SIT was aimed at the subscription of financial products and therefore, according to the definition in Article 1.1t) of Legislative Decree 58/1998, amounted to a public offering.

Given that Consob has no record of having received either due notice of such a public offering or the prospectus to be published, as required by Article 94.1 of Legislative Decree 58/1998, there are grounds for believing that these activities are in violation of the legal and regulatory requirements governing the solicitation of investors.

(In Consob Informa n. 19/2004 - 10 May 2004)