Suspension of Payments

ANNOUNCEMENT OF MAY 31, 2012

On the day of May 31, 2012 the Special Commissioners of Bank Network Investments SpA in Special Administration (MI), with the favorable opinion of the Monitoring Committee and with the previous authorization by the Bank of Italy, have decided to suspend the payment of liabilities of any kind, pursuant to art. 74 of Leg. No. 385 of the Banking Act (TUB) of September 1, 1993, for the period of one month. The suspension does not include client financial instruments.

The measure was necessary to face the difficult situation of the bank.

The Special Organs of Bank Network Investments SpA, an intermediary member of the Interbank Deposit Protection Fund, are developing a plan for solving the crisis, in order to safeguard clients' rights, which calls for the intervention of Consultinvest SIM and of the Ravenna Savings Bank group.