PRESS RELEASE 27 February 2002, Torino

TODAY THE BOARD OF DIRECTORS APPROVED THE PROPOSED BALANCE SHEET AS AT DECEMBER 31ST, 2001: CONSOLIDATED TURNOVER UP TO 112 MILLIONS OF EURO (+24% ON 2000), WHILE, AS PREVIOUSLY ANNOUNCED, THE U.S. COMPANIES LOSSES AFFECT THE PROFITABILITY OF THE YEAR. In the process of the restructuring of the U.S. controlled Companies after the events of last September 11th, current reduction of personnel by almost 30%.

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