Fondiaria-Sai S.p.A. - Board of Directors 19th April 2012

The Board of Directors of Fondiaria-SAI, in a meeting today chaired by Jonella Ligresti, reviewed the valuations and estimates carried out to date, with the support of advisors, in relation to

(i) the combined industrial plan guidelines and possible synergies from the integration with the Unipol Group and
(ii) the pro-forma solvency margin (also projected) of the company formed from the proposed merger.

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