Banca Monte dei Paschi acquires 100% of AXA SIM

Reached an agreement with AXA for the acquisition of its Italian asset gathering subsidiary.

AXA and Banca Monte dei Paschi di Siena have signed today a sale-and-purchase agreement relating to 100% of the share capital of AXA SIM.

AXA SIM is a company operating in the asset gathering sector. As of June 30, 2007 it had assets under management of 1.9 billion euro and a distribution network of over 440 financial advisors (promotori finanziari).

With this transaction, BMPS will significantly strengthen its competitive position in the Italian asset gathering market, increasing the size of its financial advisors’ distribution network and improving its geographic coverage, achieving a better presence in some areas of the country that are currently scarcely covered.

This agreement complements the strategic alliance between AXA and BMPS announced in March 2007 and further strengthens the partnership between the two groups.