Banca Monte dei Paschi di Siena SpA : Press reports on transaction 'Alexandria'

In reference to recent press reports, Banca Monte dei Paschi di Siena informs that the transaction known as 'Alexandria' falls within the scope of the analysis communicated in the press release of 17 January 2012, which is currently under way in relation to certain structured deals carried out in previous financial years and still included in the Bank's financial assets portfolio.

As previously reported, the analysis, promptly undertaken by the Bank with the utmost level of care and diligence, is nearing completion and is expected to be submitted to the Bank's Board of Directors for review by mid February.

Having assessed the potential impacts, the Board will then be in a position to adopt all  necessary measures to ensure a fair accounting representation of the transactions in question,  including retrospectively. Upon conclusion of the assessment process, the Bank shall provide a precise indication of any potential balance sheet and profit and loss impacts resulting from the analysis currently being completed.

Nonetheless, it is understood that, as announced on 28 November 2012, the Bank has requested an additional EUR 500 mln in "New Financial Instruments" (also known as 'Monti Bonds') to ensure the prudential coverage of any balance sheet impacts arising from potential adjustments to the financial statements or any costs of termination, should the Bank deem it convenient to terminate the transactions  in the sole interest of both the Bank and its shareholders.

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