Banca Caboto SpA renews with Rolfe & Nolan

London, January 7th 2004: Banca Caboto SpA has renewed its facilities management agreement with Rolfe & Nolan, which provides a comprehensive service for listed derivatives processing, MIS and general ledger
accounting.

Banca Caboto SpA is the investment banking arm of the Gruppo Banca Intesa and a leading player in the Italian capital markets. Caboto offers comprehensive and innovative financial services to institutional investors, banks and brokers via its trading operations in Milan, London and New York.

Bob Freeman, Rolfe & Nolan's Chief Executive said: "Rolfe & Nolan is proud of the solutions that it offers. We are delighted to continue and further deepen our strong existing relationship with Caboto. Renewal decisions are never taken lightly."

Paolo Bovone - Head of Operations at Banca Caboto SpA said: "We enjoy a well-established and productive relationship with Rolfe & Nolan and value its robust and versatile solutions as well as its deep knowledge of this sector. There has been much change in the Italian financial landscape over the last couple of years and Rolfe & Nolan has helped us to maintain both our coverage and our competitive position."

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