Pirelli: Shareholders' meeting

Shareholders' Meeting of Pirelli & C. Spa:

• 2008 Financial Statements Approved
• New Board of Statutory Auditors Appointed

Milan, 21 April 2009 - The Shareholders' meeting of Pirelli & C. SpA met today in ordinary and extraordinary sessions.

In the ordinary session, the Shareholders' meeting approved the 2008 financial statements, which did not foresee distribution of dividends.

The Shareholders' meeting also appointed, through the list system, a new Board of Statutory Auditors for the Company for fiscal years 2009, 2010 and 2011, composed of: Enrico Laghi (whom the Shareholders' meeting also appointed Chairman), Paolo Domenico Sfameni and Paolo Gualtieri, standing statutory auditors, and Luigi Guerra and Franco Ghiringhelli, alternate statutory auditors. The components of the new Board of Statutory Auditors were selected from the only list presented, by participants of the Pirelli & C. SpA Shareholders' Pact. Their compensation was confirmed at 41,500 euros for standing statutory auditors and 62.000 euros for the Chairman of the Board of Statutory Auditors. CVs of the new statutory auditors are available on the Company's website (www.pirelli.com).

In the extraordinary session, the Shareholders' meeting resolved upon definitive reduction of revaluation reserves in the measure utilized to cover the 2008 fiscal year result.