FASTWEB: signed new 950 million Euro bank financing

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Press release 18/02/2005
EGM of FASTWEB S.p.A. (Milan, Nuovo Mercato: FWB), convened today in Milan and approved a share capital increase for a maximum of 800 million Euro by means of the issue and offering of option rights to shareholders and convertible bondholders.

Price range between 33 and 37 Euro

Milan, 18 February 2005 - EGM of FASTWEB S.p.A. (Milan, Nuovo Mercato: FWB), convened today in Milan and approved a share capital increase for a maximum of 800 million Euro by means of the issue and offering of option rights to shareholders and convertible bondholders.

The EGM has also approved the price range proposed by the BoD that convened today which has been set between a minimum of 33 Euro and a maximum of 37 Euro for each newly issued share.

Further, the EGM has delegated the setting of the final subscription price to the BoD.