Olimpia, Mediobanca and Generali: appointment of the Board of the agreement regarding Telecom Italia

JOINT PRESS RELEASE FROM PIRELLI & C. S.p.A., EDIZIONE HOLDING S.p.A., EDIZIONE FINANCE INTERNATIONAL S.A., OLIMPIA S.p.A., MEDIOBANCA S.p.A. AND ASSICURAZIONI GENERALI S.p.A.

OLIMPIA, MEDIOBANCA AND GENERALI: APPOINTMENT OF THE BOARD OF THE SHAREHOLDERS' AGREEMENT REGARDING TELECOM ITALIA HOLDINGS

Milan, 20 November 2006 - Olimpia, Mediobanca and Generali appointed today the members of the Board of the shareholders' agreement signed last October 18 in which they tied-up a total of 23.2% of the ordinary share capital of Telecom Italia.

The four members of the Board are Marco Tronchetti Provera, who will hold the position of Chairman, Gilberto Benetton, Renato Pagliaro and Giovanni Perissinotto.