PRESS RELEASE 28 August 2003, Torino

APPROVED BY THE BOARD OF DIRECTORS THE SIX MONTHS REPORT AS AT JUNE 30TH, 2003 - Consolidated sales at 43.8 million Euro, basically stable in respect of 06/30/02 - Improving Group profitability - EBITDA at 0.9 million Euro (-0.9 million Euro as at 06/30/02) - EBIT at -0.3 million Euro (-2.2 million Euro as at 06/30/02) - Positive performance of the working capital and significant improvement of the net financial position (from -39.8 million Euro as at 12/31/02 to -24.5 million Euro)

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