Annual Accounts and Report as at 30 June 2011 Draft - Mediobanca

STATEMENT OF CHANGES TO AVERAGE MEDIOBANCA NET EQUITYPreviously reportedbalance at 30/6/10Allocation of profit for previous periodReservesDividends and otherfund applicationsChanges toreservesNew sharesissuedChanges during the reference periodTreasurysharesacquiredTransactions involving net equityExtraordinarydividendpayoutsChanges toequityinstrumentsTreasurysharesderivativesStock options 1Overallconsolidated profitBalance at 30/6/11Share capital: 430,551,039 — — — 13,567 — — — — — — 430,564,606a) ordinary shares 430,551,039 — — — 13,567 — — — — — — 430,564,606b) other shares — — — — — — — — — — — —Share premium reserve 2,119,912,746 — — — 230,647 — — — — — — 2,120,143,393Reserves: 2,372,423,708 100,643,084 — — — — — — — 13,496,062 — 2,486,562,854a) retained earnings 2,329,813,794 100,643,084 — — — — — — — — — 2,430,456,878b) others 42,609,914 — — — — — — — — 13,496,062 — 56,105,976Valuation reserves (33,972,127) — — — — — — — — — 21,405,611 (12,566,516)Equity instruments — — — — — — — — — — — —Treasury shares (213,410,361) — — — — — — — — — — (213,410,361)Profit (loss) for the period 244,138,866 (100,643,084) (143,495,782) — — — — — — — 127,375,541 127,375,541Net equity 4,919,643,871 — (143,495,782) — 244,214 — — — — 13,496,062 148,781,152 4,938,669,517Represents the effect on the stock options and performance shores related to the ESOP schemes.1284 –