Banche Popolari Unite


RE: BANCHE POPOLARI UNITE S.C.R.L.
    EUR 400,000,000.00
    MATURING: 30-Sep-2011
    ISSUE DATE: 30-Sep-2004
    ISIN: XS0202393285

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
29-Jun-2007 TO 28-Sep-2007 HAS BEEN FIXED AT 4.364000 PCT

DAY BASIS 91/360

INTEREST PAYABLE VALUE 28-Sep-2007 WILL AMOUNT TO:
EUR 110.31 PER EUR 10,000.00 DENOMINATION

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3858/3855
FAX: 44 20 7508 3866
Email: rate.fixing@citigroup.com
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