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The new versions of the accounting and administrative/management software prepared by the<br />
subsidiary company Lulli S.r.l. have already been tested and are currently being verified (running the<br />
existing procedures in parallel in order to ensure the possibility of fall-back) by certain pilot offices.<br />
Within the end of the current year these new procedures shall be adopted by all of the Group<br />
companies affected by the introduction of the Euro.<br />
All of the Group companies with head offices within the Euro area shall commence staff training<br />
programmes as from October 2001 relative to the Euro and the use thereof in the new computer<br />
procedures.<br />
Changes to the Company's offices<br />
The extraordinary shareholders' meeting of 2nd May 2001 resolved the transfer of the Company's<br />
secondary offices from Montemurlo, in No. 20 Via Spartaco Lavagnini, Frazione Oste, to Prato, in No.<br />
61/E Via Fonda di Mezzana.<br />
In addition, the new Padova office became operative as from the beginning of the year 2001.<br />
On behalf of the Board of Directors,<br />
Paolo Nocentini - Chairman<br />
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