Exemption from writing the 2005 second quarter’s Interim Management Statement

The Half-Year Financial Report at 30 June 2005 will be approved by the BoD on 28 September 2005

Immobiliare Grande Distribuzione S.p.A. announces that, pursuant art. 82bis of Consob Regulation no. 11971 of May 14^th, 1999, intends to exercise the option of exemption  from the preparation of the 2005 second quarter Interim Management Statement.

The Half-Year Financial Report at 30 June 2005 – for the first time drawn up according to the IAS/IFRS principles – will be approved in the next Board of Directors’ meeting, scheduled on September 8^th, 2005.

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