June, United Kingdom BANCA CR FIRENZE GROUP

Banca CR Firenze Group Investor Relations 2 *Market share as at Dec. 31, Others as at Mar. 31, 2002, Findomestic excluded ** Direct + indirect funding Group network: 417 branches Tuscany market share * : by deposit 15.7% by loan 12.2% 900,000 customers Euro 25.8 bln total deposits ** Euro 11.7 bln customer loans 2001 ROE : 11.3% (13.7% adj) Strong regional presence Important leading partners SHAREHOLDERS AGREEMENT CR Firenze Foundation 22% Sanpaolo IMI 15% BNP Paribas 7% 44% Banca CR FIRENZE Group - Highlights

Banca CR Firenze Group Investor Relations 3 BUSINESS MODEL Infogroup Datacentro Centro Telemktg. Citylife Perseo Finance Pro.Du.Ser. CR PISTOIA e PESCIA CR ORVIETOCR MIRANDOLA CR CIVITAVECCHIA Findomestic Liberamente Network Product Companies Service Companies Consumer CreditFinancial Planners BANCA CR FIRENZE (Parent Company) Specialized units by Sanpaolo IMI and BNP Paribas Eptaconsors Arval Italia Centrovita Centro Leasing Centro Factoring Cerit CR Firenze Gest. Int.le

Banca CR Firenze Group Investor Relations 4 INCOME SOURCES Commercial banking Lending Asset management Group integration Strategic investments Consumer credit Stock performance High diversification helps the Group to cope with a turbulent environment Contribution to the net income *As at Mar. 31, 2002

Banca CR Firenze Group Investor Relations 5 Euro bln Net NPL ratioCoverage ratio 1Q 2002 after deconsolidation of CFT Finanziaria LENDING Steady growth coupled with improving quality

Banca CR Firenze Group Investor Relations 6 5 – 4 – 3 rating as % of performing loans 5 – Excellent38.7% Loans by rating* 4 – Good 15.5% 3 – Acceptable20.8 % 2 – Risky22.4% 1 – Critical 2.6% *CRF Group as at Mar. 31, 2002 (non-financials and family companies), Findomestic excluded LENDING - Asset quality The Internal Rating System proved to be effective and reliable in monitoring credit quality

Banca CR Firenze Group Investor Relations 7 CR FIRENZE Gestion International: the proprietary mutual fund factory Since April 2001 Luxembourg based Umbrella Fund 35 sub-funds Euro mln High quality multibrand products Discretional Accs. Mutual Fund Dis. Accs. Mutual Funds Insurance Products Asset under management ASSET MANAGEMENT - 2

Banca CR Firenze Group Investor Relations 8 AUM / Indirect funding ratio at 56.6% Defensive composition of mutual fund portfolio Immediate switch to equity funds as the market recovers Mutual funds by category AUM stock at market value NET INFLOWS % Euro mln 7,000 AUM net inflows ASSET MANAGEMENT Strong commitment to improve AUM revenues As at Mar. 31, 2002

Banca CR Firenze Group Investor Relations 9 Shareholdings book value Shareholdings profit Return on main shareholdings *As at Dec. 31, 2002 Capital has been allocated in companies focused on a specific business Each company developed as market leader Capital allocation STRATEGIC INVESTMENTS Euro mln

Banca CR Firenze Group Investor Relations 10 Sept The beginning of the JV with Cetelem S.A. and Banco di Sardegna June Shareholders agreement between C.R. Firenze and Cetelem S.A. in order to exercise joint control over the Company Sept B. di Sardegna resolved to accept the offer from C. R. Firenze and Cetelem. C.R. Firenze Group Cetelem BNP Paribas Group Banco Sardegna FINDOMESTIC BANCA - Shareholding

Banca CR Firenze Group Investor Relations 11 Market share: by transaction 29% by volume 13% 2001 ROE : 23.3% 3,600,000 customer database 94 Customer Service Centers Over 65,000 affiliated stores 1,536 employees S & P rating : ST A2 LT A- Trentino Alto Adige Friuli V. Giulia Veneto Emilia Romagna Marche Umbria Abruzzo Molise Puglia Basilicata Calabria Sicilia Sardegna Campania Lazio Toscana Liguria Piemonte Valle dAosta Lombardia * As at Dec. 31, 2001 FINDOMESTIC BANCA - Highlights Widespread distribution High market penetration *

Banca CR Firenze Group Investor Relations 12 Source: Assofin - As at Dec. 31, 2001 Findomestic 3.66 Fiatsava 3.13 Deutsche Bank 2.01 AgosItafinco (Intesa) 1.74 Finemiro (Cardine) 1.70 Fiditalia (SocGen) 1.56 Compass 1.23 Euro billion Revolving cards Personal loans Home Appliances Vehicle financing THE CONSUMER CREDIT LEADER BPLDucato 1.22 Citifin 1.09 Finconsumo 1.01 IntesaBci (Comit network) 1.67 Business segmentation

Banca CR Firenze Group Investor Relations 13 Source : Assofin and Findomestic *As % of outstanding credits- Italy, new business (yoy %) Findomestic, new business (yoy %) % % % % NPL ratio* % System average : 2 % THE CONSUMER CREDIT LEADER - 2 Outperforming growth and steady reduction of credit losses