Banca Popolare Di Milano Shares Increase In The S&P/MIB Index

Standard & Poor’s will make the following changes in the S&P/MIB index effective the close of trading Wednesday, November 24, 2004:

• Banca Popolare di Milano (Italy, ISIN: IT0000064482) shares will increase to 415,034,231. The change is the result of the issue of new shares following the company’s acquisition of Carinord 1 SPA. The IWF (Investable Weight Factor) for Banca Popolare di Milano will stay the same (100%) as Fondazione CR Alessandria, who became a shareholder after Carinord 1 SPA acquisition with a 7.3% stake in BPM ordinary shares, reduced its holding to below 2%.

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