Milan, 23 August 2007 - Sopaf S.p.A., upon the indication of Borsa Italiana S.p.A., announces that the convertible bonds under the name of "SOPAF 2007-2012 convertibile 3.875%" will begin trading on 27 August 2007.

It is furthermore noted that:

• the bonds accrue annual interest at the rate of 3.875%, calculated on the nominal value of the same, and paid in arrears on 10 August of each year;
• the first coupon, payable on 10 August 2008, is equal to €0.0341 per bond (pre-tax) and represents annual interest accrued as from 10 August 2007;
• the Rules for the Bond contain the basis for the interest computation.

For additional information:
Maria Antonietta Barelli
SOPAF S.p.A.
Tel: +39 (02) 72.14.24.29 - cell: +39.335.620.0990
mabarelli@sopafgroup.it