Milan, 9 November  2007 –  On 7 November the real estate fund Tergeste, owned 100% by Sopaf Group and managed by Polis Fondi Sgr.p.a., sold its 40% stake in Telma S.r.l., a real estate company with ventures in the south of Milan, to Beni Stabili Development Milano Greenway (JV between Beni Stabili S.p.A. 80% and Greenway Costruzioni S.p.A. 20%).

The sale generates a capital gain of around 8 million euro for Sopaf's consolidated financial statements.

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For further information:
Maria Antonietta Barelli  
SOPAF S.p.A.     
Tel: +39 (02) 72.14.24.29 -  cell: +39.335.620.0990 
mabarelli@sopafgroup.it                       
Laura La Ferla    
PMS – Financial and Corporate Communications  
Tel: +39 02 48000250- cell:+39 329 4705000
l.laferla@pmsgroup.it 
Andrea Faravelli    
PMS – Financial and Corporate Communications 
Tel: +39 02 48000250- cell: +39 328 4909601
a.faravelli@pmsgroup.it