Campari Group

03/07/2001

Campari priced at Euro 31 following highly successful IPO

Milan, 3 July 2001 - The final offering price for ordinary shares in Davide Campari-Milano S.p.A has been set at Euro 31. The Campari Group is one of with the leading players in the global beverage sector.

The Campari IPO, the largest to be held in Italy in this year with a total value of Euro 900 million at the IPO price, was subscribed over three times. Market response was particularly good both among institutional investors, especially in the UK and the USA, as well as in the retail market from which 17,500 applications were received.

Retail demand alone for the Campari IPO was equal to the average global offer value for all of the IPOs launched in Italy during 2001.

The final offering price was set after consideration of the level of demand from institutional investors, as well as that from the retail investors. The same price was set for the retail offering in Italy as the private placement to professional and institutional investors in Italy and abroad (including Rule144A placement into the US).

The total offering comprises 12,705,000 ordinary shares, plus an over-allotment option of additional 1,524,600 shares.

The offer prospectus was registered with regulatory body Consob, on June 20th 2001 and the offer received the authorisation on the same day.

Borsa Italiana S.p.A. gave its approval for the listing of the ordinary shares of Davide Campari-Milano S.p.A on June 13th 2001.

It was also announced that, following the approval of the shareholders' meeting held on the 2nd of May 2001 and subsequent decisions by the Board of Directors, Davide Campari-Milano S.p.A has purchased one million of its own shares for distribution as part of the group's stock-option plan. The order for the shares, which constitute about 3% of the total share capital, was placed with the joint global coordinators as part of the placement reserved for institutional investors.

The purchase is intended to provide share availability for the stock option plan already approved for key management figures at the same cost price as the exercise price of the assigned stock option plan.