Milan, 20 March 2006 - Sopaf S.p.A. announces that it has today perfected the sale of a 50% interest in Blue Skye (Lux) S.à.r.l., a joint venture in the non-performing loan business.  Sopaf has sold the stake to the American fund, D.B. Zwirn Special Opportunities Fund L.P., which is already the owner of the other 50% of the Blue Skye shares.

The stake will be transferred at a price of €12.9 million, in line with the capital invested in the venture, and thus the transaction is to be considered neutral from an earnings perspective.

The sale of the interest in Blue Skye is part of a plan to streamline the Sopaf Group's corporate structure.

Maria Antonietta Barelli     
Sopaf S.p.A. - Investor Relations   
Tel +39-02 72142429     
mabarelli@sopafgroup.it    

Lavinia Borea
Community-Consulenza nella comunicazione
Tel +39-02 89404231
lavinia.borea@communitygroup.it