Milan, 21 April 2006 - Sopaf S.p.A. announces that its subsidiary, LM & Partners S.c.a., has subscribed 33.33% of the Aster Fund, a closed-end real estate investment fund reserved for qualified investors and managed by Vegagest SGR.

The €22 million subscription of is to be financed partially with the subsidiary's own resources and partially with third-party funds.

The investment flanks the Sopaf Group's other investments in the real estate sector, namely, investments in POLIS FONDI SGR (asset management), and LM Real Estate (direct ownership of property).

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

Marco Rubino - Lavinia Borea
Community-Consulenza nella comunicazione
Tel +39-02 89404231