FASTWEB Board of Directors examines Swisscom voluntary public tender offer and approves the issuer’s statement

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Press release 26/03/2007
The FASTWEB Board of Directors today examined (i) the statement sent by Swisscom on March 20 (...).On the basis of the declarations of the Offeror and the conclusions set out in the fairness opinion drawn up by its financial advisors, the Board of Directors ruled in favor of the PTO.

Milan, March 26, 2007 -The FASTWEB Board of Directors (Milan MTAX: FWB) today examined (i) the statement sent by Swisscom on March 20, 2007, informing FASTWEB that it had filed a draft Offer Document with Consob that day, and setting out the key terms and conditions of the preemptive public tender offer for 100% of FASTWEB (the PTO) and (ii) the Offer Document filed with CONSOB on March 20, 2007.

On the basis of the declarations of the Offeror and the conclusions set out in the fairness opinion drawn up by its financial advisors, the Board of Directors ruled in favor of the PTO.

Subsequently, the Board of Directors unanimously approved the issuer's statement drawn up pursuant to article 103 of the Italian Consolidated Finance Act and article 39 of Consob Regulation 11971/1999.

The company's financial advisors are Deutsche Bank and UniCredit Banca Mobiliare. Its legal advisors are the MBL & Partners and Cleary Gottlieb Steen & Hamilton LLP.

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