Consob Approval Of Amendments To TLX Rules

In accordance with the provisions of Article 63.2 of the Consolidated Law, Consob has approved some amendments to the rules governing the markets organized and managed by TLX s.p.a., which had been approved by the company's shareholders at a meeting on 3 December 2003.

The amendments, which are of a formal nature, concern the launch of the Express II system, the new clearing and settlement platform created by Monte Titoli. The new system is now fully operational for transactions involving non-convertible bonds, foreign government securities, Italian government securities, and asset-backed securities. Transactions involving the remaining financial instruments traded on TLX will be settled via Express II from 26 January 2004.