MCC, a Leading Italian Bank in Project Financing, Adopts the Equator Principles

Rome - 29 July 2003

MCC S.p.A, a leading Italian bank in project financing, is the first Italian bank to adopt the "Equator Principles", a set of voluntary guidelines developed by major international banks to address the environmental and social issues arising from financing projects and ensure that financed projects are realised according to sound environmental management practices.

MCC, whose former name was Mediocredito Centrale S.p.A, is the investment banking arm of Capitalia Group, the fourth Italian Banking Group, and has a long, positive track record on multisourcing project finance transactions all over the world.

MCC strongly believes that financial institutions must play an important role in ensuring that projects are developed in a socially responsible manner and deem that the adoption of Equator Principles will establish a common framework to better identify social and environmental risks.

MCC has already taken into account and complied with these guidelines for a large number of project financing transactions in the past and the adoption of the Equator Principles externalises its environmental and social risk evaluation process.