Autostrade SPA IWF Change In The S&P European Indices

Standard & Poor’s will make the following changes in the S&P Europe 350, S&P Euro Plus and S&P Euro Indices effective the close of trading Thursday, July 15, 2004:

• Autostrade SPA (Italy, SEDOL: 7667163, GICS: Industrials, GICS Code: 20305020), a member of the S&P Europe 350, S&P Euro Plus and S&P Euro indices, Investable Weight Factor will change from 0.3 to 0.478. This is following the sale of ordinary shares by Banca Popolare di Milano SCRL and Schemaventotto SPA. Banca Popolare di Milano SCRL reduced its holding to less than 5% and Schemaventotto SPA reduced its holding to 52.2% of shares outstanding.

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