Cash value of 2004-2009 warrants and EMH financial instruments: € 63.9 mln and € 6.5 mln respectively

Milan, 11 June 2008 – Following exercise of the majority of Piaggio & C. S.p.A.2004-2009 warrants and all the EMH financial instruments issued by the company in connection with the acquisition of Aprilia S.p.A., the cash value of the proprietary rights of the holders of the warrants and the EMH financial instruments, based on the valuation submitted by the independent valuer on 5 June, is € 63,942,755.40 for the 9,959 exercised warrants and € 6,500,000.00 for the EMH financial instruments.

At a meeting today in Milan, the Piaggio board of Directors decided to pay a cash settlement for the warrants. Payment of the proprietary rights of both instruments must be settled no later than 3 July 2008.