PRESS RELEASE

Construction - investigation launched into Salini Construttori and Impregilo for possible competition-restricting agreement

The strategic accord signed by the two companies evades proper competitive procurement in future tendering.

In a meeting on 17^th October 2012, the Autorità Garante della Concorrenza e del Mercato decided to initiate an investigation into Salini Costruttori and Impregilo to determine whether the two companies set up an agreement designed to avoid proper competitive procurement during their participation in tendering for the construction of infrastructures and large works. Both companies are primary general contractors in the construction sector and specialize in building infrastructures and large complicated works.

The Antitrust is focusing on an agreement signed between the two companies last September 27^th.

The accord set forth rigorous, detailed procedures to characterize the selection and mutual assessment of tenders found to be in their mutual interest, followed by their joint participation in tenders deemed worthwhile for both companies. By signing of the accord, Salini Costruttori and Impregilo manifested a tangible intention not to proceed with proper competitive procurement during future public tendering in their interest.

According to the Antitrust, the accord therefore appears to configure a competition-restricting agreement for the mutual definition of selection procedures and subsequent participation in tendering in the interest of both parties, set within a market context in which tendering is an essential, if not the only, instrument used to assign contracts.

Rome – 18^th October 2012