Safilo Press Release, Loan Refinancing Completed

Safilo has officially announced that it has successfully completed the refinancing of the loan deriving from Tabacchi's takeover bid in 2001. The company has in fact sold a 270 million euro minority share to Credit Suisse First Boston (Csfb) Private Equity, the investment fund of the Swiss giant which is the most important asset management company in the world.

According to the announcement, the operation breathes new life into a group financial structure that offers long-term balance and stability, while at the same time establishing the prerequisites for continued company growth. Csfb will be represented on Safilo's board of directors. The operation was implemented by Csfb, San Paolo Imi and Ubm (Unicredit).

'The refinancing represents the conclusion of the Group's family buy-out and delisting operation', stated Safilo's CEO, Roberto Vedovotto. 'It also allows us to take up additional opportunities for growth, especially as far as concerns the purchase of new licenses and the strengthening of the sales and distribution structure in Europe, the United States and Asia'.