Report and financial statements at 31December 2011

Page 79

Overall compensation due to directors and members of the Board of statutory auditors (article 2427, first comma, no. 16, C.c.) and to auditor (Ref. art. 2427, first comma, no. 16-bis, C.c.) is highlighted in accordance with the law

Qualification Directors Auditor Board of statutory auditors

Compensation 150.000,00 24.375,00 85.984,66

These financial statements consisting of Statement of assets and liabilities, Income statement and Explanatory note, truthfully and correctly represents the financial situation and financial year net result and complies with the accounting records.

Chairman of the Board of directors VALENTINO BARBIERATO

Report and financial statements at 31/12/2011

Page 79


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