Reverse stock split of Creval ordinary shares: determined value of the fractions of new shares

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REVERSE STOCK SPLIT OF CREVAL ORDINARY SHARES: DETERMINED VALUE OF THE FRACTIONS OF NEW SHARES

Sondrio, 8 January 2018 - Credito Valtellinese S.p.A. ("Creval") hereby gives notice that as of today the reverse stock split of the Creval ordinary shares has been executed pursuant to the resolution taken by the shareholders' extraordinary meeting of 19 December 2017, on the basis of No. 1 new ordinary share with no par value, regular ranking for dividends, coupon No. 1 (ISIN Code IT0005319444), every No. 10 existing ordinary shares with no par value, coupon No. 1 (ISIN Code IT0005242026).

Following our press release dated 4 January 2018, please be informed that the official price of the Creval ordinary shares recorded on the Mercato Telematico Azionario as of 5 January 2017 is equal to Euro 1.2021. This price will therefore apply for the determination of the value of the new shares fractions resulted from the application of the reverse stock split ratio mentioned above.

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