Holders convertible bonds - Re-opening of conversion rights

02/25/2005 - 08:00 AM

  • Holders convertible bonds - Re-opening of conversion rights
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TELECOM ITALIA S.p.A.

Registered Office in Milan, at 2 Piazza degli Affari

Corporate Headquarters in Rome , at 41 Corso d'Italia

Fully paid-up share capital Euro 8,868,946,358.25

Tax/VAT and Milan Company Register number: 00488410010

Notice to holders of “Telecom Italia 1.5% 2001-2010 convertible bonds

with premium upon redemption”

RE-OPENING OF CONVERSION RIGHTS

Notice is hereby given to the holders of the above-listed bonds that due to the addition to the shareholders meeting agenda of the proposal to approve the annual accounts and the consequent dividend distribution (first call on April 5, 2005; proposal of dividend distribution with ex dividend date on April, 18 2005) as from today until March 10, 2005, both terms inclusive, the conversion rights shall be exercisable .

According to the Convertible Bond Regulations, a pplications for conversion will be suspended once more between March 11 and April 18, 2005 (the ex dividend date) inclusive.

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Requests for clarifications or information may be made by

- calling the 800 number: 00020220 (for calls from inside Italy) or the number: +39 011 4404900 (for calls from outside Italy)

- sending an e-mail to: corporate.affairs@telecomitalia.it