UNICREDIT (UCG): In line with the Group corporate governance model, no 2008 bonus is foreseen for CEO and Deputy CEOs Mr. Rampl: The Board express appreciation to the Management Team and confirms the Executive Compensation guidelines - raport 75

Raport bieżący nr 75/2008
Podstawa prawna:

Art. 56 ust. 1 pkt 2 Ustawy o ofercie - informacje bieżące i okresowe

Date: December 18, 2008

Current Report No. 75/2008

Pursuant to § 36 of the Ordinance of the Minister of Finance of October 19, 2005 on current and periodic information submitted by issuers of securities (Journal of Laws No. 209, Item 1744), UniCredit S.p.A. ("UCI") hereby provides the English language version of the current report (press release) prepared by UCI, as well as the Polish translation thereof.

PRESS RELEASE

In line with the Group corporate governance model, no 2008 bonus is foreseen for CEO and Deputy CEOs

Mr. Rampl: The Board express appreciation to the Management Team and confirms the Executive Compensation guidelines

Milan, 18th December 2008 - During today’s meeting, the Board of Directors of UniCredit Group has approved the 2009 Group remuneration policy guidelines and has confirmed the 2008 variable remuneration pay-out rules.

The crisis which has affected globally the financial markets in the last months has deeply changed the framework set out in January 2008, when current year targets were defined for the Management Team.

The Board of Directors has confirmed the Group remuneration policy which, by establishing a direct link between company performance and executive compensation, does provide for the granting of bonus only in case the relevant minimum access targets are achieved.

While the 2008 expected results are satisfactory in this new economic environment, they are not in line with what was originally projected during the managerial Budget process of November - December 2007, approved by the Board on 22nd January 2008. Therefore the bonus calculation results will fall under the minimum access threshold defined by the company incentive system for CEO-Office members, namely, the CEO and the Deputy CEOs.

"This is not an extraordinary measure, but rather the logical consequence of our Governance model, fully supported by both the Board and Top Management", said the Chairman of UniCredit, Dieter Rampl: "This decision - he added - does not question in any way the work and the results achieved by the Management Team, who has been able to safely guide the Group through what is proving to be the worst postwar crisis and who, for this reason, deserves great appreciation from the entire Board of Directors".

Milan, 18th December 2008

Enquiries:

Media Relations:

Tel. +39 02 88628236; e-mail: MediaRelations@unicreditgroup.eu

Investor Relations:

Tel. + 39 02 88628715; e-mail: InvestorRelations@unicreditgroup.eu
Wioletta Reimer - Pełnomocnik UniCredit