Milan, 18 November 2008 – The deed for the upstream merger of the subsidiary
Moto Guzzi S.p.A. into and with Piaggio & C. S.p.A. was signed today.

The merger will take effect with regard to third parties as from 01/12/2008; it takes effect for accounting and tax purposes as from 01/01/2008.

To read the press release click on the pdf file attached to this page.