Milan, 3 October 2006 – SOPAF S.p.A. announces that it has today finalized
agreements to acquire 70% of Cartesio Alternative Investments SGR S.p.A. from the
firm's other shareholders (Banca Popolare Italiana S.c.a.r.l. and various individuals)
at a price of EUR 2.8 million. SOPAF already held 30% of Cartesio Alternative
Investments SGR.
The acquisition of the shares is subordinated to the procurement of the necessary
authorizations therefor to be issued by the Bank of Italy.
Cartesio Alternative Investments SGR, a hedge fund management company set up in
2002, is currently managing a long/short equity arbitrage fund (Cartesio Global
Equity Fund), whose assets total around EUR 42 million.
In 2005, the fund ranked second amount Italian hedge funds in terms of yield, with a
pre-tax return more than 10% and limited volatility. The pre-tax return for the first
half of 2006 came to 3.18%.

For additional information
Maria Antonietta Barelli                     Claudia Caracausi
SOPAF S.p.A. - Investor Relations      Twister communications group
Tel +39-02 72142429                       Tel +39-02-438114.212 / +39-338 4476613
mabarelli@sopafgroup.it                    ccaracausi@twistergroup.it