CREMONINI GROUP: the Board of Directors approves the early extinction of the Group's asset back securitisation transaction.

The Board of Directors of Cremonini S.p.A. today approved the commencement of the
procedure for early extinction of the asset back securitisation transaction on the trade
receivables of certain of the Group's subsidiaries (Montana Alimentari S.p.A., Marr S.p.A. and
Inalca S.p.A.), which was launched on 22 July 2002.

The decision was determined by the opportunity to improve and optimise the management of
the Cremonini Group's trade receivables for the purpose of obtaining operative and cost

The advance extinction of the asset back securitisation regards the entire amount of the initial
value of 120 million Euros. The transaction provided for the non-recourse cession of the
receivables to the vehicle company Cremonini SEC Srl, appropriately incorporated based on
Law 130/99, and which had a legal life of 7 years, with the possibility of early repayment with
effect from 24 July 2005.

The securities, issued at par with a Standard & Poor's AAA rating, will be repaid by the vehicle
company on 24 April 2007 (the payment date of the interest coupon) utilising existing receipts
from receivables.

Cremonini, with over 7,200 employees is one of the largest food groups in Europe and
operates in three business areas: production, distribution and catering.
With total revenues of 2,128.9 million euros in 2005, the Group is the absolute leader in Italy in
the production of beef and meat-based processed products (Montana) and in the distribution
and sale of food products to the catering industry (Marr). In addition, it has a significant
presence in the catering sector and, in particular, is the Italian leader in catering on-board trains
and in railway stations (Chef Express). Finally, the Group is 2nd in the Italian motorway catering
market (Moto).

Contact: Barabino & Partners                                                    Cremonini S.p.A.
Massimiliano Parboni                                                               Luca Macario
Raffaella Perugini                                                                    Tel.: 059/75.46.27
Tel.: 06/679.29.29

Castelvetro di Modena, 26 January 2007