JPMORGAN BECOMES DEPOSITARY BANK FOR INTESA SANPAOLO ADR PROGRAM

London - 23 January 2007

The merged Italian bank is the latest Italian. blue-chip company to appoint JPMorgan as depositary bank

JPMorgan today announced that it has been appointed as depositary bank for the Intesa Sanpaolo American Depositary Receipt (“ADR”) program, which replaced the previous Sanpaolo ADR program following the merger with Banca Intesa on January 1. The ADRs are traded on the OTC market in the US.

JPMorgan maintains an extensive European client base, managing more than 70 blue-chip ADR programs in the region, including significant Italian ADR programs.
James Keane, head of ADRs in EMEA, JPMorgan Worldwide Securities Services, said, “Having managed Sanpaolo's ADR facility for over eight years, we are delighted to be working with the merged entity, Intesa Sanpaolo, establishing a Level I ADR program to help facilitate the share exchange.”

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