Internal Dealing

List of the Relevant Persons

KME Group S.p.A. in view of the Regulations of the Italian Stock Exchange (Borsa Italiana S.p.A.) and its instructions on the subject of the adoption of an Internal Dealing Code having the purpose of governing, with binding effects, the flows of information and limitation thereon regarding Relevant Persons on the subject of financial instruments issued by listed companies, has resolved to adopt, as of January 1, the following Internal Dealing Code:

List of the Relevant Persons	Black out period		Operations
	art. 8
KME Group S.p.A.
Referred to article 152 sexies let. c.1) of Listed Companies Regulations
Vincenzo Cannatelli	20	10
Domenico Cova	20	10
Mario D’Urso	20	10
Marcello Gallo	20	10
Marcello Fazzini	20	10
Independent auditors “Deloitte & Touche” represented by Paolo Guglielmetti	20	10
Independent auditors “KPMG S.p.A.” represented by Riccardo Cecchi
Giuseppe Lignana	20	10
Gian Carlo Losi	20	10
Vincenzo Manes	20	10
Pasquale Pace	20	10
Diva Moriani	20	10
Alberto Pecci	20	10
Alberto Pirelli	20	10
Italo Romano	20	10
Salvatore Orlando	20	10
Marco Lombardi	20	10
Referred to art. 152 sexies let. c.3) of Listed Companies Regulations
Achim Degner	20	10
Reiner Fritsch	20	10
Marcello Gallo	20	10
Jurgen Gebhardt	20	10
Johann von Graevenitz	20	10
Andrè Luecke	20	10
Vincenzo Manes	20	10
Hartmut Meine	20	10
Diva Moriani	20	10
Paolo Orlando	20	10
Salvatore Orlando	20	10
Roelf Evert Reins	20	10
Peter Spiekermann	20	10
Reinhard Wessel	20	10
Referred to art. 152 sexies let. c.4 of Listed Companies Regulations
G.I.M. - Generale Industrie Metallurgiche S.p.A.
INTEK S.p.A.

Art. 8  Black out periods

The Relevant Persons may not carry out operations on financial instruments in the 30 days prior to the meetings of the Board of Directors and Executive Committee called to examine the draft of the Annual Report of the company and G.I.M. - Generale Industrie Metallurgiche S.p.A.; a similar black-out period shall apply to the 10 days prior to the meetings of the aforementioned bodies called to examine the infra-annual reports of the companies.

Stricter terms can be foreseen as regards individual Relevant Persons. In case of extraordinary operations and at the initiative of the Chairman of the Board of Directors, the company may adopt similar prohibitions limited in time and applied to individual Relevant Persons. This decision is made confidentially and therefore need not be reported to the market.

Any exceptions to the aforementioned black-outs may be the subject of prior agreements between the individual Relevant Persons and the Chairman of the Board of Directors of the company; in case of exceptions granted, notice shall be given in the sphere of communication per art.10, except in confidential cases.