Milan, March 12 2007 - Silvio Scaglia and SMS Finance S.A., as major shareholder of FASTWEB, having positively considered the proposal of Swisscom, have signed an undertaking agreement whereby they have agreed that SMS Finance's share will be delivered to the tender offer procedure, except for the event that competing higher offers are presented.
The undertaking to adhere to the tender offer confirms the intention already expressed by the founder of FASTWEB to sell his shareholding at the same conditions as all other shareholders and to allow them to benefit from the control premium.
Silvio Scaglia believes that the Company has now reached a position of full industrial and operational stability, characterized by an excellent management team. Since more than a year Silvio Scaglia does not have any operational role in the company.
At the request of Swisscom, Silvio Scaglia has committed to remain available as a member of FASTWEB's Board of Directors.