Board of Directors of Fondiaria-SAI S.p.A. of June 19, 2012

The Board of Directors of Fondiaria-SAI S.p.A. in a meeting held today under the Chairmanship of Cosimo Rucellai:

• having noted the ISVP measure which requests an acceleration in the verifications and investigations which have been underway for some time concerning the operations contested;
  
• having noted that such verifications and investigations by the Company and the advisors appointed are still in course;
  
• having considered the absolute necessity to quickly complete the investigation, in accordance with the request of ISVAP,

approved the acceleration of the investigations in course in order to evaluate in a meeting of the Board to be held shortly, preliminarily scheduled for June 26, 2012, the proposals of management and the advisors relating to these operations, considered individually and overall, particularly in relation to: (i) any irregularities or violations of law or duties of diligence devolving to the directors or executives of the Company or its subsidiaries in relation to the above-mentioned operations; (ii) the identification of any responsibility of the directors, executives or third parties in relation to the matters verified; (iii) the actions which may be undertaken by the Company in to order attain compensation for damages incurred or in order to mitigate the effects of the operations in question.

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