Mediobanca – Banca di Credito Finanziario S.p.A. completes the sale of 10% stake in Tod’s S.p.A. via an accelerated bookbuilding aimed at Italian and foreign institutional investors

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Press release

Mediobanca – Banca di Credito Finanziario S.p.A. completes the sale of 10% stake in Tod’s S.p.A. via an accelerated bookbuilding aimed at Italian and foreign institutional investors

Today 15 december 2010 Mediobanca announces to have placed, through an "Accelerated Bookbuilt Offer", n. 3,060,000 Tod’s S.p.A. ordinary shares (approximately 10% of the ordinary share capital) to institutional investors at a price of Euro 76.00. The shares have been offered by Diego Della Valle & C. SAPA (6.08% of the ordinary share capital), by Diego Della Valle (1.96% of the ordinary share capital) and by Andrea Della Valle (1.96% of the ordinary share capital). Settlement of the operation is expected on the 20 December 2010.

Milano, 15 December 2010

In any EEA Member State this communication is only addressed to and is only directed at qualified investors within the meaning of the Prospectus Directive.

This communication is made to or directed only at persons who (1) are outside the United Kingdom, (2) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (3) are persons falling within Article 49(2) (a) to (d) ("high net worth companies, unincorporated associations, etc") of the Order (all such persons together being referred to as "relevant persons"). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only by relevant persons.

It may be unlawful to distribute these materials in certain jurisdictions. These written materials are not for distribution, directly or indirectly, in the United States, Canada, Australia or Japan. The information contained herein does not constitute an offer of securities for sale in the United States, Canada, Australia or Japan. These materials do not constitute or form part of an offer to sell or the solicitation of an offer to buy the securities discussed herein. The securities mentioned herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to or for the account or benefit of U.S. persons absent registration or an exemption from the registration requirements of the Securities Act. There will be no public offer of the securities in the United States.