Alitalia Team And Alitalia Express: Shareholders` Meeting

In today`s extraordinary Shareholders` Meetings of Alitalia Team and Alitalia Express - two Alitalia subsidiaries - a project was approved for the partial transfer from Alitalia Team to Alitalia Express of the corporate branch which basically consists of ATR aircraft and the related personnel, as part of the 1996-2000 Restructuring Plan implementation.

The shareholder meeting thus formalised the consolidation within Alitalia Express of operations Ð which have in any case already been performed by the latter company since September 1997 under a company branch lease contract Ð as envisaged by “Alitalia Regional Network” project for connecting European and domestic regional-scale airports.

In addition, Alitalia Team`s shareholders agreed on a share capital increase from the current amount of Lit. 7,500 million to Lit. 150,000 million, in view of fleet development and investment programmes to be carried out by Alitalia Team in the near future.