The Partners
IFIL IN THE AGNELLI GROUP

IFIL is part of the Agnelli group, for which a simplified structure is introduced hereinafter (sharing percentages calculated upon ordinary capital).

Giovanni Agnelli and C. is a limited partnership company, holding as main share 100% of the IFI ordinary capital - Istituto Finanziario Industriale S.p.A.
IFI capital is composed of 30.875.000 ordinary shares (not listed) and 30.875.000 preference shares (listed at the Milan Stock Exchange)
IFI's main assets are:
- 18.09% of Fiat ordinary capital, one of the major world car operators, of which it shares the control with IFIL (which holds another 12.46% of the ordinary capital)
- 54.10% of IFIL ordinary capital, holding company with a diversified investment portfolio.

HISTORICAL PROFILE
The current composition of IFIL's investment holdings is the result of a strategy aimed at growth and diversification, begun at the end of the 1980s and geared to creating an investment holding company in an international panorama, with a balanced, diversified portfolio firmly established in companies with a high standing and potential.

OBJECTIVE AND STRATEGY
IFIL's objective is to increase the net asset value of the Company and its return in order to guarantee its shareholders a balanced increase in growth and income.
IFIL acts as an active shareholder with a vision in the medium to long-term period offering support to the companies in order to foster and accelerate their development and achieve excellence in returns.
The strategies embodied in the active management of the portfolio and the optimization of the capital structure are the tools by which IFIL intends to pursue its objectives

ASSETS IN IFIL'S PORTFOLIO
The strategy of portfolio diversification, begun at the beginning of the 1980s, is now embodied by five "macro sectors":
Industry represented by the investments in:
- Fiat, one of the major vehicle manufacturers in the world;
- Arjo Wiggins Appleton (through Worms & Cie, 53.1% owned by IFIL), one of the world leaders in the manufacture of high value-added paper products and, in Europe, in the distribution of paper for printing and writing;
- Saint Louis Sucre, one of the most important producers of sugar in Europe, of which Worms & Cie holds a 46.9% stake through the financial investment company F.Franklin Roosevelt;

Retailing represented by the control (exercised jointly with Auchan Group) over Rinascente Group;

Banks and Finance, represented by the investment in Sanpaolo IMI Group (together with the Stake held by the parent company IFI) and in Permal Group (held through Worms & Cie);

Tourism and Hotels
- in which the costant growth of Alpitour, following the integration with Francorosso and Viaggidea and the investment in Viaggi dell'Elefante, confirms the importance and potential assumed by the Agnelli Group which, through Exor Group and IFIL itself, is also present as a stockholder of reference in Club Méd;
- through Sifalberghi, which represents the investments of the Group in the hotel sector, in partnership with the Accor Group;

Services and Hi-Tech, developed through:
- the investment (through Worms & Cie) in SGS (Société Générale de Surveillance Holding S.A.), world leader in inspection and certification activities in the field of raw materials, industrial products and consumer goods with a strong orientation towards future developments in the e-economy;
- the investment in Atlanet, the telecommunications company created by the merger of Telexis (Fiat Group) and Acea Telefonica (Telefonica and Acea Groups) and also operating in the field of third-generation mobile telecommunications (UMTS) through a minority interest in IPSE;
- Ciaoholding, a joint initiative with Fiat Group in the Italian e-commerce B2C market.
  http://www.ifil.it

IFIL

Corso Matteotti, 26
10121 - Torino
Phone: +39.011.5090335
Fax: +39.011.5090385
relazioni.esterne@gruppoifil.com

Our reasons for joining Torino Internazionale

A strong belief in the importance of stimulating cooperation between the public and private sectors in developing medium and long term projects which contribute to the harmonious evolution of the city of Turin in all areas: industry, services, culture, sport and the human element.



IFIL IN THE AGNELLI GROUP

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