52VB Emirate Ab 51 A

    


Unione di Banche Italiane S.c.p.a.


Re:  Banche Popolari Unite S.C.R.L
     EUR 500,000,000.00
     MATURING: 20-Jun-2012
     ISIN: XS0221671547

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20-Dec-2007 TO 20-Mar-2008 HAS BEEN FIXED AT 5.076000 PCT

DAY BASIS: ACTUAL/360

INTEREST PAYABLE VALUE 20-Mar-2008 WILL AMOUNT TO:
EUR 641.55 PER EUR 50,000.00 DENOMINATION

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