Pirelli: Shareholders' Agreement presents list for new Board of Directors

Milan, 11 April 2008 - The Shareholders' Agreement of Pirelli & C. SpA announces that it has presented today a list with 20 candidates for the Board of Directors of Pirelli & C. SpA, whose renewal is on the Agenda of the Shareholders' Meeting called for 28 April (on first call) and 29 April (on second call) 2008. The list of candidates follows:

1) Marco Tronchetti Provera
2) Carlo Alessandro Puri Negri
3) Alberto Pirelli
4) Carlo Acutis (independent)
5) Gilberto Benetton
6) Alberto Bombassei (independent)
7) Enrico Tommaso Cucchiani
8) Luigi Campiglio (independent)
9) Berardino Libonati (independent)
10) Giulia Maria Ligresti
11) Renato Pagliaro
12) Massimo Moratti
13) Giovanni Perissinotto
14) Giampiero Pesenti (independent)
15) Luigi Roth (independent)
16) Carlo Secchi (independent)
17) Giampio Bracchi (independent)
18) Marco Lacchini (independent)
19) Gustavo Piga (independent)
20) Alessandro Zattoni (independent)

In addition, the members of the Shareholders' Agreement will propose to the Shareholders' Meeting:

• to fix the number of members of the Board of Directors at 20;
• to set the duration of the new Board of Directors at three fiscal years, and therefore until the Shareholders' Meeting called for approval of the accounts as of 31 December 2010;
• to establish the total annual compensation of the Board of Directors at a maximum of 1.2 million euros (as per Art. 2389, section 1 of the Civil Code), an amount to be divided among the Board members in conformity with the resolutions to be taken on this issue by the Board itself.

The documentation called for by governing law, presented together with the list, will be made available to the public by the Company. The members of the Agreement, finally, communicate that they will propose that the Shareholders' Meeting appoint Paolo Domenico Sfameni to the Board of Statutory Auditors of Pirelli & C. SpA as a replacement for Paolo Francesco Lazzati, who is stepping down.