Investimenti e Sviluppo SpA Completes Offering of Shares

Investimenti e Sviluppo SpA announced that it has completed the offering of the Company's ordinary shares. During the offering period, which started February 27, 2012 and ended on March 16, 2012, the total number of 8,647,199 stock options corresponding to 78,610,900 of the Company's newly issued ordinary shares were subscribed. Additionally, Sintesi Societa di Investimenti e Partecipazioni SpA has subscribed 34,362,400 of the Company's newly issued shares of the value of EUR 1,498,200.64. As a result the total number of 112,973,300 of the Company's shares, representing approximately 98.6% of 114,545,300 offered shares, have been subscribed. At the end of the offering the total number of 172,920 stock options, representing 1,572,000 of the Company's ordinary shares of a maximum value of EUR 68,539.20, were not subscribed.