Pirelli & C. SpA has given notice that the stock exchange offer of 4,491,769 company savings shares that were the object of withdrawal and not bought in the context of the option offer that closed on 27 February, was concluded on 26 March 2008 without any purchases taking place. Therefore, according to law, the company has on March 27 purchased all such shares that were not placed, at a unit price of 0.8055 euros – a total amount of about 3.6 million euros – using available reserves.

The liquidation value of these savings shares is to be paid to the appropriate parties, through their respective intermediaries, on 31 March 2008. Furthermore, reports Pirelli, there is no creditor opposition to the company regarding the share capital reduction upon expiration of the legal terms. Pirelli has therefore confirmed that the “extraordinary dividend” of 0.154 euros per each ordinary and savings share will be paid on 3 April 2008 (ex dividend 31 March 2008).