THE UNICREDIT GROUP IN 2010: NET PROFIT OF €1,323 MILLION (-22.2% YoY). PROFIT BEFORE TAX REACHES €2.5 BILLION DESPITE GOODWILL IMPAIRMENT OF €362 MILLION.

2010 SHOWS A GOOD TREND YoY IN NET COMMISSIONS, OPERATING COSTS AND LOAN LOSS PROVISIONS.

BOTH NET INTEREST AND NET COMMISSIONS UP IN THE FOURTH QUARTER, CONFIRMING THE RECOVERY.

TRADING INCOME DOWN YoY DUE TO DIFFICULT FINANCIAL MARKETS, BUT STILL POSITIVE IN EVERY QUARTER.

SOLID STRUCTURE OF THE BALANCE SHEET AND OF THE REGULATORY CAPITAL CONFIRMED (CORE TIER I AT 8.58%).

FULL YEAR 2010:

• Group’s portion of net profit reaches €1,323 million (€1,702 million in 2009) with a 2010 featuring several non-operating, non-recurring items (goodwill impairment, integration costs, recognition of deferred tax)

• Operating income at €26,347 million, -5.9% YoY on a constant currency and perimeter basis, with trading income down by 42.9% YoY on a constant currency and perimeter basis

• Good trend in net commissions (+8.4% YoY on a constant currency and perimeter basis), operating costs (-0.1% YoY on a constant currency and perimeter basis) and loan loss provisions (-18.2% YoY on a constant currency and perimeter basis)

• The solid structure of the balance sheet, the good level of liquidity (the structural liquidity ratio reaches 0.98) and the strength of the regulatory capital (Core Tier 1 at 8.58% and Tier 1 at 9.46%) are all confirmed

• Proposed cash dividend of €0.03 per ordinary share

FOURTH QUARTER 2010:

• Group’s portion of net profit reaches €321 million, +9.0% QoQ net the -€43 million of non-operating, non-recurring items

• Operating income at €6,554 million, an increase on the €6,494 million recorded in 3Q10, due primarily to the good performance of net interest (+2.5% QoQ) and net commissions (+8.1% QoQ)

• Operating costs total €3,755 million, a decline of 4.0% QoQ

• Loan loss provisions of €1,751 million, with the cost of risk at 126 bp

For more information visit UniCredit website

More information for media:

UniCredit Bulbank, Identity & Communications Department

Viktoria Blajeva, Phone: + 359 2 9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch

Ekaterina Ancheva, Phone: + 359 2 9264 963, еlbufsjob/bodifwbAvojdsfejuhspvq/ch

More information for clients:

UniCredit Bulbank, Call Centre

Phone: 0700 1 84 84