Pirelli & C. SpA, Sintonia SpA/Sintonia SA joint press release

Milan, 4 April 2007 - With reference to the press release distributed late in the evening by Assicurazioni Generali and Mediobanca, Pirelli & C. SpA and Sintonia SpA/Sintonia SA specify that the Shareholders' Agreement relating to Telecom Italia, cited in the aforementioned press release, does not foresee any obligation for the participants to consult each other on the indication of candidates for the Board of Directors of the same Telecom Italia.

The Shareholders' Agreement, in fact, foresees exclusively consultation prior to each Shareholders' Meeting of Telecom Italia on the ways to exercize the voting rights belonging to the participants of the Shareholders' Agreement.

For the sake of completeness, it is recalled that on the list presented by Olimpia today for the election of the Board of Directors of Telecom Italia on occasion of the Shareholders' Meeting called for the 15 and 16 April, Renato Pagliaro and Aldo Minucci, respectively co-general manager of Mediobanca and vice general manager of Assicurazioni Generali, are included, who, as prescribed by the by-laws of Telecom Italia, expressly accepted, with purposeful declaration, their relative candidacies.