PRESS RELEASE

CONTACTS:

www.bancagenerali.com

Media Relations

Michele Seghizzi

Tel. +39 02 6076 5683

Michele.seghizzi@bancagenerali.it

Investor Relations

Giuliana Pagliari

Tel: +39 02 6076 5548 giuliana.pagliari@bancagenerali.it

Net inflows exceeded €1.0 billion at end of

April (€213 million in April)

Net inflows in managed products at €923 million (€245 million in April)

Milan, 5 May 2014 - Banca Generali's total net inflows amounted to €1,020 millionYTD, exceeding for the first time ever the ambitious threshold of €1 billion in net inflows from private investors (households and retail investors), in just 4 months.
The April figure confirmed the dynamic growth trend of the previous months, marking a 16%
increase over the highest levels reported in the same period of 2013. In detail, net inflows grew by

€213 million, of which €147 million gathered by the Banca Genear li network (€705 million YTD)

and €66 million by Banca Generali Private Banking (€351million YTD).
Net inflows were once more concentrated in managed products (€923 million, 90% of the tota)l. For more than a year and a half, they have been the most-in-demand amongst investors looking for qualified financial advice and effective alternatives to lower government bond yields in Europe and Italy.

Following the success achieved in the first weeks after its launch in March, the innovative multi- class policy BG Stile Libero continued to catalyze investors' attention in April thanks to the flexible selection of underlying investments and the benefits offered by the policy's insurance cover. This product generated net inflows amounting to €184 million (€341 million for the two- month period) thus confirming the policy's efficacy in portfolio planning. It should be noted that about 90% of BG Stile Libero underlying assets consists of funds and SICAVs. Taking account of this contribution and the increased interest towards portfolio diversification to seize the opportunities offered by the international markets, net inflows of Funds and SICAVs amounted to €486 million YTD.

Lastly, it should be recalled that Banca Generali's traditional insurance products performed well, mainly thanks to the guaranteed capital and stable returns which on average were 4,5% per year from 2009 till today. Life new business totalled €3 1 million in April (€1.0 billion YTD).
The CEO of Banca Generali, Piermario Motta, commented: "Over one billion euro in inflows from retail customers alone in four months is a highly significant result that rewards the expertise of our advisors, as well as the quality of the solutions offered. At a time of volatility and downwards pressure on returns, investors are increasingly looking for thorough, effective solutions from qualified financial advisors capable of providing opportunities and guarantees at an international level. Buoyed by our ability to innovate our products and the dynamic performance of our networks, we are confident about our net inflow prospects in the coming months."

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A) NET INFLOWS AND LIFE NEW BUSINESS IN APRIL 2014

Million of Euros Apr 2014 Mar 2014 Abs. Chg

Mutual Funds -14 -10 -4

Asset Management -29 -18 -11

Mutual Funds and Managed Portfolio -43 -28 -15

Life Insurance 288 288 0

- o/w 'BG Stile Libero' 184 157

Managed Assets 245 260 -15 Non Managed Assets -32 20 -52

of which: Securities -92 -52 -40

Total 213 280 -67 Jan-Apr 2014 Jan-Apr 2013 Abs. Chg

Mutual Funds 176 596 -420

Asset Management -90 24 -114

Mutual Funds and Managed Portfolio 86 620 -534

Life Insurance 837 280 557

- o/w 'BG Stile Libero' 341 0

Managed Assets 923 900 23 Non Managed Assets 97 -39 136

of which: Securities -212 -80 -132

Total 1.020 861 159 Life New Business Apr 2014 Mar 2014 Abs. Chg Life New Business 331 344 -13 Jan-Apr 2014 Jan-Apr 2013 Abs. Chg Life New Business 1.001 378 734

***

The Manager responsible for preparing the Banca Generali's financial reports (Stefano Grassi) declares, pursuant to Paragraph 2 of Art. 154-bis of the Italian Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the documentary results, books and accounting records.

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